Mongolia’s foreign trade turnover expanded by 16.9 percent year on year to USD 20.1 billion in the first 10 months of this year, according to data released by the country’s National Statistics Office

The country registered a surplus of USD 4.9

The underground mine of Mongolia’s Oyu Tolgoi copper-gold mining project has produced more than 127,000 tons of copper since its launch in March.

The underground mine is very important for the implementation of “Vision 2050” — the Mongolian government’s long-term development

The Bank of Mongolia has paid special attention to the big picture, such as building the essential building blocks of financial stability, making the necessary reforms in the banking sector, and regularly improving its supervisory framework. By going public, banks

Mongolia’s central bank reported today (7 November) it purchased a total of 14.2 tons of gold in the first 10 months of this year from legal entities and individuals.

As of October, the Bank of Mongolia’s average gold purchase price had

Mongolia will introduce a tax-free system from January 2024, exempting foreign citizens from value-added tax. The move is part of the country’s efforts to promote tourism. To claim tax refund, foreign citizens will need to register in the E-Mongolia mobile

Construction of the Mongolian portion of Russia’s planned new Power of Siberia-2 gas pipeline to China may start in the first quarter or first half of 2024, TASS news agency quoted Russian Deputy Prime Minister Viktoria Abramchenko.

Russia wants to increase

The downward pressure on the global economy and increasingly complex external environment this year brought more attention of the international community including Mongolia to the Chinese economy. Some Western media have been hyping up “overcapacity”, “debt crisis” and “foreign capital

The International Monetary Fund (IMF) is forecasting 2023 GDP growth for Mongolia of 5.5%, following on from last year’s 5.0%.

Mongolia will likely see a 4.5% GDP expansion in 2024, the Fund added in its newly published World Economic Outlook (WEO) October