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HomeEntertainmentMongolia exported 16,138,000 tons of coal in 2021

Mongolia exported 16,138,000 tons of coal in 2021

Mongolia exported 16,138,000 tons of coal in 2021

AKIPRESS.COM – In Mongolia, the mining sector makes up 24 percent of the country’s GDP, 69 percent of the industrial sector, 77 percent of foreign direct investment and 93 percent of exports. According to last year, total revenue of the state budget was MNT 13,362.3 billion, of which 29.6 percent or MNT 4,114.4 billion was generated by the mining sector alone, Montsame reported citing the Ministry of Mining and Heavy Industry.

Before the pandemic, Mongolia used to export over 30 million tons of coal annually, but last year it exported 16,138 thousand tons. Despite the decline in the volume of mineral exports, the income from export in 2021 was equal to those of previous years as a result of high commodity prices in the world market and response to the pandemic. For instance, the country exported 36,265,000 tons of coal and earned $2,803,000,000 in 2018, exported…

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