China is consolidating its dominance in Mongolian exports by increasing coal purchases and financing logistics routes. Russia's share in Ulaanbaatar's exports has decreased to 0.5%, while over 90% of Mongolian exports go to China.
China is solidifying its status as Mongolia's key economic partner, increasing Ulaanbaatar's dependence on its southern neighbor while diminishing Russia's role in regional trade. This was reported by the Foreign Intelligence Service of Ukraine (FIS), writes UNN.
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China is sharply increasing its purchases of Mongolian coal and actively funding new logistics routes. Mongolia plans to increase coal exports to China by almost 20% this year, bringing sales to 100 million tons. This resource sector already accounts for about 12% of Mongolia's GDP.
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Beijing's dominance in foreign trade is rapidly strengthening: currently, over 90% of Mongolian exports go to the Chinese market, while in 2022 this figure was 64%. For comparison: the second most important, Switzerland, receives only 5.6% of Mongolian supplies.
Russia, which until recently was one of the key partners, has effectively lost its role. Its share in Ulaanbaatar's exports has shrunk to a meager 0.5%, reflecting a shift in the geo-economic balance in Central Asia.
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To support the growing volumes, both countries are promoting infrastructure projects, including the agreement to build a new railway line between Gashuun-Sukhait and Ganch-Modu. These projects could push Mongolian coal exports to 165 million tons per year, which is critically important for China as the world's largest steel producer.
The growing trade dependence of Mongolia on China indicates a deep transformation of economic priorities and the gradual displacement of Russian influence amid Beijing's active expansion.
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