Mongolia's trade surplus up 45.5 pct in first quarter on coal trade surge

ULAANBAATAR, April 12 (Reuters) - Mongolia's foreign trade surplus hit $523.7 million in the first quarter of the year, up 45.5 percent from the same period in 2016, the country's statistics office said on Wednesday.
The increase was driven by a 446 percent surge in coal trade, which reached $541.3 million over the period, while total mineral exports were up 58 percent, the National Statistical Office said. Minerals represented 89.2 percent of Mongolia's total exports over the period.
Mongolia's trade surplus for the whole of 2016 stood at $1.56 billion, up 79 percent on the year.
But an economic slowdown caused by dwindling foreign investment and declining commodity prices turned into a full-blown crisis last year as Mongolia's currency, the tugrik, plummeted.
Amid concerns it would be unable to repay debt, the country agreed a $5.5 billion bailout with the International Monetary Fund and other partners in February.
The ruling Mongolian People's Party has blamed the country's economic woes on the previous government's expansionist fiscal policies. It is attempting to reverse course with policies aimed at curbing government spending and attracting foreign investment, especially in its lucrative natural resources.
Despite plans to raise taxes and cut spending, the MPP has a narrow lead in public support ahead of presidential elections set for June 26, according to a survey published this week by the Sant Maral Foundation, a Mongolian polling organisation.
The MPP was setting Mongolia in the "right direction", 35.9 percent of respondents said, while 28.3 percent said it was taking the country in the "wrong direction".
Candidates for the presidential election have not yet been announced. Incumbent Tsakhia Elebegdorj of the Democratic Party will step down after completing his maximum two terms in office.
(Reporting by Terrence Edwards; Editing by David Stanway and Susan Thomas)

Source:Reuters news agency
Share:

1 comment:

  1. My name is.Mrs.Juliet Quin. I live in Canada and i am a happy woman today? and i told my self that any lender that rescue my family from our poor situation, i will refer any person that is looking for loan to him, he gave me happiness to me and my family, i was in need of a loan of $ 73,000.00 to start my life all over as i am a single mother with 3 kids I met this honest and GOD fearing man loan lender that help me with a loan of $ 73,000.00 Canada Dollar, he is a GOD fearing man, if you are in need of loan and you will pay back the loan please contact him tell him that is Mrs.Juliet Quin that refer you to him. Contact Dr Purva Pius via email: reply to email (urgentloan22@gmail.com)

    ReplyDelete

Facebook page

Powered by Blogger.

Categories

Advertising in Mongolia An Culture Editorial of the Mongolianviews education Environmental protection Famous Mongolians Foreigners in Mongolia Inner Mongolia Ivanhoe Mines Mongolia agriculture Mongolia analysis Mongolia and Australia Mongolia and Belorussia Mongolia and Cambodia Mongolia and Canada Mongolia and central Asia Mongolia and China Mongolia and Cuba Mongolia and EU Mongolia and Germany Mongolia and Hongkong Mongolia and Hungary Mongolia and India Mongolia and Inner Mongolia Mongolia and Iran Mongolia and Italy Mongolia and Japan Mongolia and Kazakhstan Mongolia and Korea Mongolia and Kuwait Mongolia and Malaysia Mongolia and Nato Mongolia and North Korean Mongolia and Poland Mongolia and Russia Mongolia and Singapore Mongolia and South Korea Mongolia and Taiwan Mongolia and the world Mongolia and Tibet Mongolia and Turkey Mongolia and UK Mongolia and Ukraine Mongolia and UN Mongolia and USA Mongolia and Vietnam Mongolia Banking Mongolia civic society Mongolia crime Mongolia diplomacy Mongolia Economy Mongolia Education Mongolia Energy Mongolia Finance Mongolia Health Mongolia History Mongolia holiday Mongolia in international media Mongolia Industries Mongolia Joke Mongolia law Mongolia LGBT Mongolia medical Mongolia military Mongolia Mining Mongolia Mining Developments Mongolia Mortgage Mongolia natural disaster Mongolia Petroleum Mongolia public announcements Mongolia railways Mongolia Religion Mongolia society Mongolia Sports Mongolia Stamp Mongolia telecommunication Mongolia tourism Mongolia Urbanization Mongolia Wild Life Mongolian Agriculture Mongolian Archeology Mongolian Food Mongolian Gay Mongolian Government news Mongolian History Mongolian Military Mongolian Mining Development Mongolian Movie Mongolian News Mongolian Parliament Mongolian Political news Mongolian Press Mongolian Songs Mongolian Women Mongolian Youth Mongolians abroad Moninfo Opinion Oyu Tolgoi Investment Agreement Photo news Press Release Rio Tinto Tavan Tolgoi coal mine Ulaanbaatar development Weird expatriates in Mongolia

Blog Archive

Followers

Live Traffic