Coal trucks near Gants Mod port on the Chinese border

Mongolia’s foreign exchange reserves reach record $8.9 billion

ULAANBAATAR — Mongolia’s official foreign exchange reserves reached a record $8.9 billion at the end of September, the Ministry of Economy and Development reported.

First Deputy Prime Minister and Minister of Economy and Development J. Enkhbayar said on October 7 that Mongolia’s export revenues reached $16.6 billion in the first nine months of 2026, up 54 percent from the same period a year earlier.

Mining products remained the main driver of export growth. Mining export revenues reached $15.8 billion during the first nine months, a 57 percent year-on-year increase. Coal exports generated $6.1 billion, while copper concentrate exports totaled $7.1 billion. Coal revenues rose 50 percent, and copper concentrate revenues increased 79 percent.

Non-mining exports also grew 9 percent to $776 million.

To increase export flows, the government commissioned the 250-kilometer heavy-duty road linking Tavantolgoi and Gashuunsukhait and introduced measures to give priority at the border to coal traded through the mining exchange. Smart gates and testing laboratories have also been established at the Gashuunsukhait, Shiveekhuren and Zamyn-Uud border crossings, while operations at Gashuunsukhait have been fully digitized.

Going forward, the government plans to reduce congestion at Gashuunsukhait, accelerate work on the Shiveekhuren–Sehe border railway link and fully implement the foreign trade electronic single-window system.