Mongolia’s trade balance to show profit in 2014
The Mongolian Parliament estimated that Mongolia’s foreign trade balance will be positive in 2014, for the first time in five years. Oyu Tolgoi’s extraction is expected to play the main role in positivity.
In detail, the foreign trade commodity turnover of Mongolia is estimated to be 16.7 billion USD in 2014, and 8.4 million USD of it will be of export, while the remaining 8.3 million USD will be of import according to Ministry of Economic Development’s estimate.
Thus, Mongolia’s foreign trade balance (FTB) will be positive and will reach 32.6 million USD. Export will rise by 31.9 percent while import will rise by 14.1 percent in 2014.
The nation’s FTB is equal to 0.2 percent of Mongolia’s gross domestic product, but it is estimated to be equal to 6.6 to 6.2 percent in 2015 and 2016.
Mongolia’s balance of payment, directly dependent on foreign trade, is estimated to rise in 2014 and to reach five billion USD according to the Ministry of Economic Development.
Short URL: http://ubpost.mongolnews.mn/?p=4846
In detail, the foreign trade commodity turnover of Mongolia is estimated to be 16.7 billion USD in 2014, and 8.4 million USD of it will be of export, while the remaining 8.3 million USD will be of import according to Ministry of Economic Development’s estimate.
Thus, Mongolia’s foreign trade balance (FTB) will be positive and will reach 32.6 million USD. Export will rise by 31.9 percent while import will rise by 14.1 percent in 2014.
The nation’s FTB is equal to 0.2 percent of Mongolia’s gross domestic product, but it is estimated to be equal to 6.6 to 6.2 percent in 2015 and 2016.
Mongolia’s balance of payment, directly dependent on foreign trade, is estimated to rise in 2014 and to reach five billion USD according to the Ministry of Economic Development.
Short URL: http://ubpost.mongolnews.mn/?p=4846
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