Mongolia Social and Economic Indices February 2010

By , 23 March, 2010, 1 Comment

ULAANBAATAR, MONGOLIA – The National Statistics Office has published social and economic data. All figures are for February alone or for the first two months in 2010 and, unless otherwise mentioned, all comparisons are with the corresponding period in 2009.

CPI

The consumer price index rose 3.0 percent over January, 5.4 percent over the end of 2009, and 8.3 percent over February 2009.

State budget

The overall balance in the General Government budget in the first two months of 2010 showed a deficit of MNT51.4 billion, MNT 0.8 billion less than in the same period of the previous year, mainly because revenue increased 53.8 percent more than did expenditure.

The current account deficit was MNT36.6 billion. Tax revenue was 74.8 percent more than in 2009. Windfall profits tax yielded 227.4 times more, corporate income tax 2.2 times more, and value added tax 34.6 percent more. Non-tax revenue was up by 91.3 percent.

FDI

Foreign direct investment in the fourth quarter of 2009 was USD284.1 million, 2.2 times more than in the same period in the previous year.

Trade balance

Total turnover in trade with 86 countries in the first two months of 2010 was USD607.6 million, of which exports were USD311.7 million and imports USD295.8 million. The total turnover increased 38.7 percent, exports 34.1 percent, and imports 43.7 percent.
The trade balance surplus was USD15.9 million, 40.0 per cent less than in the same period of 2009.

Industrial output

Total industrial output in the first two months of 2010 was MNT266.2 billion, an increase of 17.0 per cent at 2005 constant prices. Industrial products worth MNT507.3 billion at current prices were sold at domestic and foreign markets.

Domestic companies executed 66.3 percent of the total construction and installation work worth MNT3.9 billion.

Passengers, freight

The number of railway passengers in the first two months of 2010 rose 7.1 percent, and the volume of freight 21.2 per cent. The corresponding rise in airlines passengers and freight was 29.0 percent and 29.4 percent respectively. The combined revenue of railway and air transportation increased 22.2 percent.

Unemployment

The number of registered unemployed people at the end of February 2010 rose 11.6 percent over January. Women were 54.3 percent of the total. Of the 3,000 registered unemployed persons who got a job in the first 2 months of 2010, 18.1 percent were employed by government or state-owned enterprises and the rest by companies, cooperatives or small-scale private businesses.

Labor Force Survey

The latest Labor Force Survey (LFS), conducted in the fourth quarter of 2009, puts the number of economically active Mongolians aged 15 and above at 1,120,300, with men accounting for 53.2 per cent of them. People holding jobs numbered 977,400 and 142,900 were unemployed. The rate of unemployment in the quarter was 12.8 per cent nationwide, 16.5 per cent in urban areas and 7.9 percent in the provinces.

Household economics

A nationwide sample survey of 2,802 households in the last quarter of 2009 found average monthly monetary income was MNT349,100, an increase of 1.6 percent, while the average monthly monetary expenditure was MNT368,300, rising by 0.9 percent.

Source: Montsame; highlighted in the BCM Newswire by Mongolia Business Council

1 Response {+}
Leave a Reply

*