Mongolia’s trade surplus contracted 13% YoY in August to USD 382 mln, driven by a sharp increase in imports (10.3% YoY) against a modest rise in exports (2.3% YoY). China remains the dominant trading partner, accounting for 92% of Mongolia’s exports from January to August. The country also experienced a sharp decline in non-performing loans (NPLs) to approximately 8.6% of total loans.