Mongolia's trade volume rises 92.4%

Mongolia's trade volume reached more than 8 billion U.S. dollars in the January-September period of this year, up 92.4 percent from the same period in 2010, said the central bank of Mongolia. The bank's latest statistics showed Mongolia's exports stood at 3.3 billion dollars in the first three quarters of this year, representing a year-on-year increase of 66.7 percent, while imports reached 4.8 billion dollars, up 114.7 percent with a trade deficit of about 1.5 billion dollars. The increased deficit was mainly caused by the country's surging imports of heavy machinery, fuel, cars and trucks and furniture, according to the bank.