Mongolia trades with 103 countries

Total expenditure and net lending of the General Government budget reached MNT 664.0 billion reflecting an increase of MNT 223.2 billion and 50.6 per cent, against the previous year.

This was mainly due to increase of MNT 82.6 billion or 46.1 per cent in subsidies and transfers. Spending of MNT 41.4 billion on capital expenditure as of the first quarter of 2010 was higher by MNT 13.6 billion or 49.2 per cent over the same period of the previous year. Increase in capital expenditure was due to an increase of MNT 17.1 billion or 72.5 per cent in domestic investment of internal sources.

As of the first quarter of this year, Mongolia traded with 103 countries from all over the world and total external trade turnover reached USD 1076.2 million, of which exports made up USD 499.0 million and import did USD 577.2 million. External trade balance in the first quarter of 2010 showed a deficit of USD 78.2 million and increased by USD 6.7 million or 9.3 per cent, against the previous year.

Against the previous year, total external trade turnover increased by USD 360.0 million or 50.3 per cent, of which exports by USD 176.7 million or 54.8 per cent, imports by USD 183.3 million or 46.6 per cent respectively. Compared with the same period of the previous year, total export increased due to increase of 4.9 times in value of zinc concentrate; and of 3.0 times in value of iron ores; and of 1.9 times in value of flour spare ores and concentrate, and of 5.0 times and 5.6 times in value of coal and crude petroleum oils, respectively.

 

Source:Montsame