Overall imports decrease in 2015Economy
Ulaanbaatar /MONTSAME/ As of December 2015, 29% of total imports were consumer goods, 38% were capital goods and 19%--fuels. Share of the capital goods in total imports decreased 2% from that of the previous year, while the share of consumer goods import increased by 3%.
Mongolian imports decreased 27.5% against 2014. Main contributors of this decrease were capital goods decrease, which equals to 12% of the total decrease and fuel imports, which is 9%.
Capital goods and petroleum products’ imports went down 31% (654 million USD) and 39% (447 million USD) respectively.
Imports of passenger cars decreased 27% (94 million USD) and foods–by 16% (87 million USD). Capital goods import decreased 31% (654 million USD), which was mainly contributed by 33% decrease in machinery, equipment and supplies (364 million USD). In addition, import of construction materials declined 38% (284 million USD) over the previous year.
Intermediate goods and industrial material import decreased 13% (76 million USD). Fuels import decreased by 39% (447 million USD). The border price of oil has been decreasing since the end of 2013. In parallel with global oil market price, it declined sharply during the last half year.
The growth of consumer goods import, calculated by three month moving average method, is constantly declining. Even though, the import growth of non-durable consumer gods was relatively stable, it started to decline by faster pace in the last six months.