Exports composition as of November

Economy
en_amarsaikhan@montsame.mn
2015-12-11 18:47:50

Ulaanbaatar /MONTSAME/ According to the foreign trade review by the Bank of Mongolia (BoM), the share of mineral exports in total exports declined by two percent from that of the previous year. Exports of coal, copper concentrate, iron ore and concentrate and crude oil have a weight of nearly 74 percent of total exports and 85 percent of mining exports.

In addition, these four products’ share in the mining exports decreased by 3.0 points from that of the previous year, and share in the total exports decreased by 4.0 points.

In overall, Mongolia’s export decreased by 18.3 percent against the same period of 2014, which was mainly affected by a decrease in commodity prices.

Exports of non-monetary gold increased by four percent, which accounted for 0.3 percent in the growth of mining export. On the other hand, coking coal, copper concentrate, iron ore, and crude oil export decreased by nearly 33 percent, nine percent, 49 and 40 percent, respectively, which accounted for 19 percent decrease in the growth of mining export.

Total export decreased by 947.5 million USD from that of the previous year4. It is affected by the increase of export commodities’ quantities (USD 57.4 million) and decrease in export commodities’ prices (USD 1,004.9 million).

Because of the increase in quantity of crude oil, nonmonetary gold and copper concentrate export, mining export increased by 293 million USD. On the other hand, because of decrease in prices of mineral exports, mining export declined by 919 million USD.

Cashmere, cashmere products’ export decreased by 47 million USD, while other exports increased by 7 million USD.