Tax revenue increased by 18.8 percent compared to previous year
In 2019, general government budget revenue amounted to MNT 11.9 trillion by preliminary results, with MNT 10.8 trillion of which accounted for equilibrated revenue.
Mongolia’s foreign trade surplus reaches USD 1.5 billion in 2019
In 2019, Mongolia traded with 152 countries from all over the world and total trade turnover reached USD 13.7 billion, of which USD 7.6 billion were exports and USD 6.1 billion were imports.
Sales of industrial production reach MNT 20.1 trillion in 2019
By preliminary results of 2019, the gross industrial output reached MNT 17.4 trillion, showing an increase of MNT 1.8 trillion (11.2%) from the previous year.
All types of transport carry 173 million passengers in 2019
At the end of 2019, 69.0 million tonnes of freight were carried in total by all types of transport. Compared to the same period of the previous year, the carried freight increased by 1.2 million tonnes (1.7%).
Proposal made to advance agricultural cooperation with Laos
On January 16, Speaker of the State Great Khural G.Zandanshatar met with President of the National Assembly of the Lao People's Democratic Republic Pany Yathotou.
Oyu Tolgoi 2019 fourth quarter production and 2020 guidance released
Ulaanbaatar /MONTSAME/. Turquoise Hill, who focuses on the Oyu Tolgoi mine development in Mongolia through its 66 percent of stakes, today announced fourth quarter 2019 production for Oyu Tolgoi as well as operational and financial guidance for 2020.
Mongolian carriers become able to make transport to 16 countries
As a result of active work of the Ministry of Road and Transport for developing international road transport relations with European Union member states, conditions created to make transport with 16 countries, exchanging a letter of consent on conducting transportation.
Mongolia welcomes 577.3 thousand tourists last year
The National Statistical Office reported that a total of 6.1 million passengers (double counting) have crossed the border of Mongolia in 2019, showing a decrease of 5.5 thousand or 0.1 percent.
Erdenet Thermal Power Plant produced 324 million kw/h electricity in 2019
Orkhon /MONTSAME/. Thermal Power Plant of Erdenet Mining Corporation started electricity electricity two years ago. In 2019, the plant fulfilled its electricity supply plan by 100.1 percent, providing a total of 324 million kw/h of electricity.
Government sets out to boost agricultural exports
Ulaanbaatar /MONTSAME/. At its meeting of today, Cabinet resolved to announce 2020 as a year to increase exports.
World Bank East Asia Pacific Regional Vice President visits Mongolia
Ulaanbaatar /MONTSAME/. The World Bank Vice President for East Asia and Pacific, Victoria Kwakwa, concluded a two-day official visit to Mongolia on January 14.
Shadow economy fluctuates at 9.2-15.7 percent of GDP
Ulaanbaatar /MONTSAME/. The National Statistical Office of Mongolia released a report on research made on the informal economy of Mongolia between 2015 and 2018. The report shows that the share of shadow economy in the country’s GDP has been fluctuating at around 9.2 – 15.7 percent in the last decade.
Free zones to be discussed
Current state, future, and the development of Zamyn-Uud, Altanbulag, and Tsagaannuur free economic zones will be broadly discussed on January 16.
Mongolian products placed in Chinese online trading center
Over 100 types of products of Mongolian entities have been placed in Ho Tao online trading center in Bayannur city of Inner Mongolia Autonomous Region of China under circumstances to pay tax after sale.
Import increases by 4.3 percent in 2019
Mongolia imported materials and products worth USD 6.1 billion in 2019 which increased by 4.3 percent compared with 2018, according to Mongolian Customs General Administration (MCGA).
Mongolia joins Addis Tax Initiative
Ulaanbaatar /MONTSAME/. The Addis Tax Initiative (ATI) has welcomed Mongolia as its newest member. In its press release, the ATI acknowledged Mongolia’s commitment to increasing domestic revenue mobilization (DRM) towards sustainable development.
Development plan for knowledge economy introduced
At the initiative of the Mongolian National Chamber of Commerce and Industry, the Speaker of Parliament G.Zandanshatar held a meeting with businessmen on January 11, exchanging views on timely issues and economic development of the country.
EBRD finances major infrastructure project in Mongolia
Regional integration and international trade between Mongolia, China and Russia will be boosted by the completion of a major infrastructure project supported by the EBRD.
Issues on Ulaanbaatar-Darkhan road extension construction discussed
Ulaanbaatar /MONTSAME/. Minister of Finance Ch.Khurelbaatar and Minister of Road and Transport Development B.Enkh-Amgalan met with Mr. Mookiah Thiruchelvam, Project Administration Unit Head of the Asian Development Bank’s Resident Mission in Mongolia.