Editor’s note: GlobalAtlanta traveled to Mongolia last year. This story is part of a special report on the country, the second to be featured in our Emerging Market series.
Given Georgia‘s massive trade relationship with China, Mongolia‘s southern neighbor, the state’s commercial relationship with the land of horses and herders seems particularly insignificant.
Mongolia makes very little, and even though its people have to import many finished goods, its small population and distance from Georgia put it low on companies’ radars. (The state’s population more than triples Mongolia’s approximately 3 million.)
Though total trade was only about $830,000 in 2010, trends seem to be moving Georgia’s way.
For one, Georgia is running a massive trade surplus with Mongolia. Imports were basically nil, with just over $2,600 worth of chemicals and apparel coming in.
Exports of meat, carpet, chemicals, radio and radar parts, electrical switching systems and insulated wire totaled $825,852. That was an 11 percent more than 2009 and a whopping 2,706 percent increase since 2005, when Georgia sold basically nothing to the north Asian country.
Georgia’s stats mirrored national trends. In 2010, U.S. trade with Mongolia stood at $126 million. Again, the balance favored the U.S. – $115 million in exports to $12 million in imports. Exports were up 184 percent from $74 million the previous year, according to the Office of the U.S. Trade Representative.