Trading Partner Portal: Mongolia
Overview
Trade Overview
Mongolia is a landlocked country south of Russia and north of China. With an area of approximately 604,200 square miles and a population of 3.52 million, it is the most sparsely populated country in the world. Although Mongolia is three times larger than California, it has less than 8% the total population of the state. Its GDP for 2024, was $23.59 billion, with GDP per capita coming in at $6,691. Mongolia became a member of the WTO in January 1997.
U.S. – Mongolia Trade
Tw-way goods trade between Mongolia and the United States was $277 million in 2025. The United States exported roughly $234 million to Mongolia with non-electrical machinery being the top export at $52 million. Other top exports were transportation equipment ($50 million), plastics and rubber products ($37 million), used or second had merchandise ($27 million), and computer and electronic products ($22 million).
Mongolia imported $43 million to the U.S. in 2025, $22 million of which was products supporting agriculture and forestry. Other imports were mineral and ores ($12 million), apparel & accessories ($4 million), goods returned ($1 million), and agricultural products ($1 million).
California – Mongolia Trade
California exported roughly $62 million in goods to Mongolia in 2025, a 10% decrease from 2024. Top export categories from California to Mongolia include used or second-hand merchandise ($23 million), transportation equipment ($22 million), computer and electronic products ($9 million), processed foods ($2 million) and leather & allied products ($1 million).
California imported a total of $12 million in goods from Mongolia in 2025 a 71% increase compared to 2024. With top imports being products supporting agriculture and forestry ($10 million), apparel and accessories ($2 million), agricultural products ($572 thousand), textile products ($314 thousand), and used or seciond-hand merchandise ($46 thousand).
Trade Agreements
Trade Agreements
U.S. – Mongolia Transparency Agreement
In September 2013 U.S. Trade Representative Michael Froman and Luvsanvandan Bold, Mongolia’s Foreign Affairs Minister signed a Transparency Agreement at a ceremony in New York.
“This agreement represents an important milestone in the U.S.-Mongolia trade relationship. I know that Minister Bold shares my belief that an agreement setting forth mutual commitments on transparency will help to improve and deepen that relationship, to the benefit of both of our economies and our businesses and workers,” Ambassador Froman commented. “Transparency is critical to the proper and efficient functioning of the international trading system. Producers, suppliers, exporters and investors need the predictability that comes with a clear understanding of the policies and practices that are going to be applied.”
United States, Mongolia Sign Transparency Agreement
September 2013
Mongolian Cashmere
Mongolian Cashmere
Mongolia has been internationally recognized as one of the finest cashmere producers in the world due to the success of its semi-domesticated goats, which are adapted to its harsh climate. After China, Mongolia is the second largest cashmere producer in the world, producing approximately 30% of the world’s supply. Mongolia is looking to expand its market further and is seeking to connect with foreign consumers. Successful cashmere companies include Gobi Corporation, Goyo Cashmere, Buyan Cashmere, and Altai Cashmere.