/ Nov 06, 2008

Economic and Social Situation of Mongolia (As first 8 months of 2007)

General Government budget

  • In the first 8 months of 2007, total revenue and grants of General Government budget amounted to 1 051.9 bln.togrogs and total expenditure and net lending 840.6 bln.togrogs. The General government budget overall balance surplus was 211.3 bln.togrogs.
    Current revenue of General Government amounted to 1 048.1 bln.togrogs and current expenditure 713.6 bln.togrogs. The budget current balance was a surplus 334.5 bln.togrogs.

  • Compared with the same period of previous year, tax revenue increased by 30.3 percent, taxes on foreign trade increased by 31.6 percent and excise tax increased by 29.9 percent.

  • The shares of capital expenditure and net lending in the total expenditure and net lending amounted to 10.6 percent and 4.5 percent, which were increased by 0.2 points and 0.7 points compared to the same period of the previous year. But the share of current expenditure in the total expenditure and net lending amounted to 84.9 percent, which decreased by 0.9 points, compared with the same period of the previous year.

Money, Loan and Stock market

  • According to the report of the Bank of Mongolia, at the end of August of 2007 money supply (broad money, or M2) increased by 4.8 percent or 100.8 bln.togrogs over the July of 2007, reaching 2195.4 bln. Togrogs.

  • Currency issued in circulation inscreased 8.2 percent or 26.5 bln.togrogs compared to July of 2007, reaching 351.6 bln.togrogs and compared to August of 2006, increased by 39.0 percent or 98.7 bln.togrogs.

  • Time saving deposits increased by 2.3 percent or 22.8 bln.togrogs over the previous month, increased by 82.2 percent or 460.0 bln.togrogs compared with August of 2006, reaching 1019.7 bln.togrogs.
  • As for foreign currency deposits, they increased by 9.9 percent or 32.0 bln.togrogs reaching 355.3 bln.togrogs over the previous month and decreased by 10.4 percent or 41.1 bln.togrogs compared with August of 2006 .

  • In the end of August 2007 the remainder of loans outstanding increased by 63.8 percent compared with August of 2006, reaching 1808.1 bln.togrogs. Meanwhile, principals in arrears increased by 50.5 percent and substandard, doubtful, loss loans decreased by 4.9 percent. The nonperforming loans reached 64.1 bln.togrogs, which was 3.5 percent of the total loans outstanding.

  • The nominal rate of togrog against US.dollar is 1187.3 togrog at the end of August 2007. Compared with August of 2006, rate of togrog weaken by 1.7 percent. The nominal rate of togrog against EUR is 1621.9 togrog compared with August of 2006, rate of togrog weaken by 8.2 percent, the nominal rate of togrog against CNY is 157.3 togrog compared with August of 2006, rate of togrog weaken by 7.2 percent.
  • According to Mongolian Stock Exchange report, in August of 2007, the stocks were traded 23 times, in total 13.8 mln.stocks were traded and value of traded stocks has reached to 12.2 bln. togrogs. Compared with July of 2007, stocks were traded increased by 5.5 times and value of traded stocks increased by 11.5 times respectively, stocks were traded decreased by 27.3 percent and value of traded stocks increased by 6.9 times compared with August of 2006. During August of 2007, the TOP-20 average index increased by 3856.4 points compared with July of 2007, reaching 10490.2.
    Total market capitalization of listed companies reached 740.4 bln. togrogs in August of 2007.

Consumer price index

  • In August 2007, the consumer price index increased by 3.3 percent compared with previous month, by 11.3 percent from the corresponding period of previous year, by 10.6 percent from the end of previous year and by 17.2 percent compared with reference period (December 2005).
    In August 2007, the prices of the footwear & cloth, miscellaneous goods and services, household furnishings & equipment, communication, restaurants and hotels, transport, food and non-alcoholic beverages, housing, water, electricity & fuels, alcoholic beverages and tobacco, medical care and education groups increased by 0.3-20.2 percent. These were the major contributions to the increase in the overall index of 3.3 percent.
    Prices of group recreation and culture decreased by 0.2 percent.
    In August 2007, the consumer price index decreased by 1.2 percent in Selenge aimag and in the rest aimags consumer price index increased by 0.1-6.2 percent.

External trade

  • For the first 8 months of 2007, total external trade turnover equaled 2402.5 mln. US dollars, of which exports 1143.3 mln. US dollars and imports 1259.2 mln. US dollars. Total external trade balance turned a deficit of 115.9 mln. US dollars. As compared with the same period of the previous year, total external trade turnover increased by 30.5 percent, exports by 27.0 percent and imports by 33.9 percent respectively. As compared with the same period of the previous year, mineral products exports by increased 199.7 mln. US dollars, natural or cultured pearls, precious metal, jewellery export by 61.3 mln. US dollars and base metals and articles exports increased by 1.4 mln. US dollars but textiles and textile articles decreased by 16.5 mln. US dollars.

  • Compared with the same period of the previous year, the greezy cashmere and combed goat down exports increased by 2.9 and 21.2 mln. US dollars respectively. In the recent years mineral products export increased drammatically. It is influensed by growing of copper concentrate and zinc concentrate export. Mineral products import comprises 64.9 percent, natural or cultured pearls, precious metal, jewellery 15.6 percent, textiles & textiles articles 13.5 percent, raw & processed hides, skins, fur & articles thereof 2.0 percent, live animals & animals origin products 0.7 percent of the total export and it\'s amount comprises 96.7 percent of the total export.

  • The volume of copper concentrate exports decreased by 0.7 percent or 2.6 thousand ton and their value in US dollars increased by 28.7 percent or 112.8 mln. dollars compared with the same period of the previous year. For the first 8 months of 2006, the average price of copper concentrate per ton was 981.6 US dollars. But in the first 8 months of 2007, it was 1271.4 US dollars and increased by 29.5 percent. It is keeping the high percent of mineral products, machinery, transportation vehicles import in the total import. In the first 8 months of 2007, mineral products import comprises 28.2 percent, machinery, mechanical equipment, electric appliances, recorders, TV sets & spare parts 19.9 percent auto, air & water transport vehicles & their spare parts 9.6 percent, food products 6.7 percent of the total imports.

  • Compared with the same period of the previous year, mineral products imports increased by 79.6 mln. US dollars, machinery, mechanical equipment, electric appliances, recorders, TV sets and their spare parts import by 76.6 mln.US dollars, auto, air and water transport vehicles and their spare parts import by 34.6 mln.US dollars, food products import by 26.2 mln. US dollars and vegetable origin products import by 6.2 mln. US dollars respectively, which are comprised high percentage in the imports.
    But textiles and textile articles import decreased by 15.3 mln. US dollars.


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