AGP Executive Report
Last update: 8 hours agoTrade and Reserves: Mongolia’s foreign trade turnover rose 34.6% year on year to $25.9 billion in the first nine months, with a $6.5 billion surplus. Mining accounted for nearly 90% of exports; export revenue reached $16.6 billion and foreign-exchange reserves hit a record $8.9 billion. Inflation and Imports: Annual inflation climbed to 12.9% in September, including a 20.8% rise in food prices and a 46.9% jump in meat. Fuel made up 22.6% of imports, while gasoline and diesel purchases increased. Credit Outlook: S&P affirmed Mongolia’s BB- rating with a stable outlook, citing mining-led growth while warning that social spending and major projects could pressure public finances. Business Costs: Ulaanbaatar proposed halving taxes to 1% for restaurants, hotels, resorts, car washes and auto-service businesses. Infrastructure: The 127-kilometer Bagakhangai–Khushig Valley–Emeelt railway is under construction, with its first 87 kilometers completed; the line is intended to ease congestion and move hazardous cargo around the capital.
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