Over the past decade, Mongolia has exported cars and related equipment valued at $75.1 million. But what exactly are we selling, and where is it going?

• What's in the mix? Our automobile and related equipment exports cover a range of items, from trucks and vehicles to special-purpose vehicles, motorcycles, headlights, alarms, and windshield wipers.

Big jump - 8.7 times!

Back in 2014, Mongolia exported cars and equipment valued at $2.4 million. Fast forward to the first 10 months of this year, and the figure has surged to $20.8 million.

• 672.8% up, but imports too: Over the years, our car exports surged by an average of 672.8% per year, whereas imports only saw a 14% increase. However, in the first 10 months of this year, we imported 44.7 times more cars and gear than we exported - a whopping $930.2 million.

Where? What?

We're not just importing cars. We're actively exporting them. In the first 10 months of this year, 813 passenger cars were exported, marking a 12.7-fold increase compared to the previous year. The majority, 61.1%, found their way to Kazakhstan, 23.2% to Kyrgyzstan, 13.8% to Russia, and the remaining portion was exported to other countries.

• 17.2 Times More Money! The value of these passenger car exports jumped 17.2 times, from $994.7 thousand to $17.1 million in the last 10 years.
• Imports Insight: We also imported 60.4 thousand passenger cars, with a 7.1% increase from the previous year. That's a lot of cars coming in, right?

Last but not least…

While Mongolia doesn't manufacture cars, it predominantly sells its used passenger cars through Russia. Despite the notable surge in exports, the nation's dependency on imports is clear. Nonetheless, the escalating influx of cars and equipment indicates a swift and dynamic development in Mongolia's car trade.