International Trade in Mongolia

International Trade in Mongolia

The Mongolian economy has kept a steady growth rate since 2002 (9% in 2008), mainly due to the rise in prices of raw materials, stimulated by the Chinese demand. However, the country suffered greatly from the international financial crisis and the decline of global sales of raw materials.... Read more

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Market Analyses About Mongolia (0)

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Import and Export Services in Mongolia (87)

  • Shenzhen Neptune Logistics Co.,Ltd

    Shenzhen Neptune Logistics Co.,Ltd

    Road Freight, Mongolia

    Neptune Logistics Corporation of CHINA enjoys this opportunity to introduce ourselves as a mutimodal transport expert and one of the...
  • Munkh cashmere

    Munkh cashmere

    Business Administration, Mongolia

    Officially established in 2005, Munkhbumuud LLC is a experienced manufacturer of garments, accesories and home textile from cashmere, yak...

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Agents and Distributors in Mongolia (1)

  • Acumen International

    Acumen International

    HR Outsourcing, Mongolia

    ACUMEN INTERNATIONAL is a SINGLE REGIONAL EMPLOYMENT SOLUTIONS PROVIDER in the former Soviet Union, Eastern and South-Eastern Europe plus...

Overview About International Trade in Mongolia

Economic Overview

The Mongolian economy has kept a steady growth rate since 2002 (9% in 2008), mainly due to the rise in prices of raw materials, stimulated by the Chinese demand. However, the country suffered greatly from the international financial crisis and the decline of global sales of raw materials. After shrinking by 1.6% in 2009, growth recovered in 2010 reaching 8.5% and should further stabilize in 2011. 

 

In order to deal with the crisis, the government of Mongolia has launched a stimulus plan worth 980 million USD and has also reached an agreement with the IMF. Its main objectives are to control the budgetary deficit and the inflation through an adjusted currency policy and to reinforce the banking system. At the end of hte program, the IMF has emphasized the country's economy's good performance and the success in reaching the objectives it had set itself. The main challenge remains the management of the expected boom of the mining industry.

Even if unemployment is kept at 2.8% of the population, Mongolia remains a poor country, with 33% of its population living beyond the poverty line.

 

FDI in Figures

Foreign direct investments have been the engine of the Mongolian econom...

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