Minerals export fell by USD 390 Million in 2012

Jan 17 • Business, Economy, Government, Mining, News • 386 Views • No Comments on Minerals export fell by USD 390 Million in 2012

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Mongolia’s exports are largely dominated by minerals and agricultural products. The nation exported goods worth USD 4.38 Billion in 2012 according to the latest figures released by National Statistics Office (www.nso.mn). 89.2% of this amount is represented by exports of various minerals.

Total exports in 2012 fell 8.99%. It means that the exports decreased by USD 430 Million from that of the year 2011. The main factor for this fall was largely due to the fact that minerals export was dropped by USD 390 Million in 2012.

The following minerals featured prominently in Mongolia’s exports in 2012: 20.9 Million tons of coal, 574,000 tons of copper concentrate, 6.4 Million tons of iron ores, 3,570 barrels of crude oil, 2.8 tons of semi-processed and unprocessed gold, and 140,000 tons of zinc concentrate.

Coal represented 43.2% of exports in the country, copper concentrate 19.1% and iron ore 12.1%. It should be noted that the amount of iron ore exports increased by 10% and crude oil exports grew by 40%. At the same time, exports of iron ores in 2012 grew substantially with the production reaching 7.56 Million tons.

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