Ulaanbaatar /MONTSAME/ Mining products accounted for 95 percent of the Mongolia’s USD 7.6 billion worth of exports sold in 2020. The remaining 5 percent were non-mining products. Most of the mining products were non-value-added raw materials, while 97 percent of the non-mining exports were nine types of products. Even though around 1,500 companies have exported in the past 3 years, 70 percent of total exports remain to be made by only 30 companies.
Therefore, to boost and diversify non-mining exports, Export Development Project is being implemented with funding support from the World Bank.
As part of the project aligned with the government’s plan to diversify the country’s mining-dependent economy, export-oriented companies and business clusters that meet certain criteria will receive financial support worth USD 50 to 100 thousand.