Industrial sector production reaches 3.3 trillion MNT

The American Chamber of Commerce in Mongolia

2018-04-13 14:01 GMT+8

On April 12, the National Statistical Office of Mongolia presented its report on the Social and Economic Situation of Mongolia as of the first quarter of 2018. Since the beginning of the year, Mongolia’s export volume increased by 182.5 million USD and imports grew by 354.2 million USD, compared to the same period in 2017.

Processed and semi-processed gold exports and the import of diesel fuel, machinery, mechanical equipment, electric appliances, and parts accounted for the increase in trade. The industrial sector grew by 21.7 percent, reaching 3.3 trillion MNT in revenue. The equilibrated balance of the state budget experienced a deficit of 25.8 billion MNT.

The price of consumer goods and services increased by 6.6 percent due to seasonal low supply for some foods. An excise tax increase for tobacco and a shortage of oil in the first quarter and subsequent increase in retail prices also impacted the consumer price hike.

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