Key Market Indicators
Mongolia's electrical equipment exports have seen a dramatic decline in 2023, plummeting to approximately $218,000. This marks a staggering 76.6% drop from the previous year's total of nearly $930,000. The downward trend has been consistent since 2001, with an average annual decrease of 42.3%. On the import front, Mongolia is projected to boost its electrical equipment imports to roughly $493 million by 2028, up from about $467 million in 2023. This represents a modest growth rate of 0.9% annually. However, it's worth noting that since 2001, the country's demand for imported electrical equipment has declined at an average rate of 0.8% each year.
