Mongolia’s export revenue reaches US$16.6 billion
AKIPRESS.COM – Mongolia’s export revenue has increased, while foreign exchange reserves reached US$8.9 billion at the end of last month, and the exchange rate remained stable, Montsame reported.
Minister of Economy and Development Enkhbayar Jadamba said the physical volume of mining exports has reached 100% of the annual target for copper concentrate, 95.7% for coal, 71.8% for iron ore and 65% for crude oil.
Mongolia’s export revenue has increased by 3.4 times over the past decade, reaching US$15.7 billion last year. Export revenue reached US$16.6 billion in nine months, an increase of 54% from the same period last year.
Non-mining export revenue reached US$776 million during the same period, increasing by 1.1 times year-on-year. In particular, exports of wool and cashmere products reached US$244 million, up 73% from the same period last year, while leather and hide exports reached US$2.3 million, an increase of 109%. Exports of meat and meat products amounted to US$84 million, down 11% year-on-year.
At a Cabinet meeting, the government ordered relevant officials to take measures to ease traffic congestion around six intersections at the Gashuunsukhait border crossing and increase the flow of export transportation, begin cross-border railway connections at the Shiveekhuren-Sekhe and Khangi-Mandal border crossings, and commission automated customs clearance systems, smart gates, and coal testing laboratories at the Bulgan and Bichigt border crossings by the end of this year.
