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Monday, November 11, 2013

[BREAKING: Mongolia 3Q GDP +11.9%, 9 Month GDP +11.5%, Inflation 10.8%, NPL +83.1%, Trade Deficit $1.9B - NSO October Statistics]

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BREAKING NEWS: Monday, November 11, 2013

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Mongolia 3Q GDP Growth 11.9% on Year, Statistics Office Says

By Michael Kohn

Nov. 11 (Bloomberg) -- Mongolia’s gross domestic product grew 11.9% on year in the third quarter, the National Statistics Office says in statement distributed today.

GDP grew 11.5% in the first nine months, the agency says in statement distributed at its office today.

* Mongolia’s economy grew 14.3% in the second quarter and 11.3% in the first half, according to data reported earlier by the statistics agency. Annual growth in 2012 was 12.4%.

 

Social and economic situation of Mongolia (As of the first 10 months of 2013)  

November 11 (National Statistics Office) --

I. Social indicators  

In the first 10 months of 2013, 66277 mothers delivered 66618 children (live births) increased by 4192 mothers or 6.8 percent and 4271 children or 6.9 percent, compared to same period of the previous year.

In the first 10 months of 2013, at national level infant mortality increased by 4 or 0.4 percent to 953 and child mortality aged 5 increased by 26 or 2.3 percent to 1181.

The number of unemployed reached 39.4 thousand at the end of October 2013, reflecting an decrease of 688 persons or 1.7 percent compared to same period of the previous year.

In revenue of social insurance fund of the first 10 months of 2013, 997.0 bln.tog, expenditure 872.2 bln.tog, showing an increase 182.7 bln.tog or 22.4 percent in revenue, 123.0 bln.tog or 16.4 percent in expenditure compared to same period of the previous year.

In social welfare fund of the first 10 months of 2013, 196.2 thous.persons 109.8 bln.tog granted pensions, showing in increase 18.0 thous.persons or 10.1 percent in number of persons received social welfare pensions and allowances, 17.0 bln.tog or 18.3 percent in social welfare pensions and allowances compared to same period of the previous year.

In the first 10 months of 2013, a total of 188.4 bln.tog distributed for 988.3 thousand children ages below 18 by the Human Development Fund for children. For the 21 thous.tog cash allowances to allocated from The Human Development fund paid 215.1 thous.persons a total 21.8 bln.tog. For the one mln.tog cash allowances to allocated from The Human Development fund for elderly and disabled of 5.4 thous.persons, the fund paid a total 4.3 bln.tog.

In the first 10 months of 2013, the total number of infectious disease cases reached 31730, decrease by 4343 cases or 12.0 percent compared to same period of the previous year. The decrease in the number of infectious disease cases was mainly due to the decrease of 3457 or 60.3 percent in viral hepatitis, 2884 or 36.1 percent in mumps although there were increase of 1716 or 81.6 percent in varicella and 1038 or 26.3 percent in syphilis.

At national level, 21190 crimes were registered in the first 10 months of 2013, reflecting an increase of 2938 crimes or 16.1 percent compared to same period of the previous year. The increase in the number of crimes was mainly due to the increases in crime against the right of ownership (1925), crime against human life and health (or physical well-being) (956) compared to same period of the previous year.

In the first 10 months of 2013, occurred crimes caused 7888 injuries and 817 deaths. The number of injuries up by 941 persons or 13.5 percent and the number of deaths up by 17 persons or 2.1 percent compared to same period of the previous year.

II. Macroeconomic indicators

In the first 9 months of 2013, GDP by production approach reached 12266.4 bln.tog at current prices increases 22.1 percent compared to the previous year.

In the first 9 months of 2013, GDP reached 4369.7 bln.tog at 2005 constant prices increases of 11.5 percent compared to the previous year.

The national consumer price index in October 2013, increased by 1.4 percent compared to the previous month, 9.7 percent compared to the beginning of the year and 10.8 percent compared to same period of the previous year.

The increase in national index compared to the previous month was mainly due to 3.6 percent increase in clothing, footwear and cloth, 3.8 percent housing, water electricity and fuels.

According to the report of the Bank of Mongolia, money supply (broad money or M2) at the end of October 2013, reached to 8717.7 bln.tog, increased by of 235.7 bln.tog or 2.8 percent compared to the previous month, and increased by 1585.1 bln.tog or 22.2 percent compared to same period of the previous year.

At the end of October 2013, currency issued in circulation reached 824.8 bln.tog, decreased by 50.2 bln.tog or 5.7 percent compared to the previous month and increased by 107.2 bln.tog or 14.9 percent compared to same period of the previous year.

Loans outstanding at the end of October 2013, amounted to 10488.8 bln.tog, up by 335.3 bln.tog or 3.3 percent compared to the previous month, and up by 3633.4 bln.tog or 53.0 percent compared to same period of the previous year.

Principals in arrears at the end of October 2013, reached 169.4 bln.tog, increased by 16.0 bln.tog or 10.4 percent compared to the previous month, and increased by 36.9 bln.tog or 27.8 percent compared to same period of the previous year.

At the end of October 2013, the non-performing loans over the bank system reached 560.5 bln.tog, showing a increase of 23.3 bln.tog or 4.3 percent compared to the previous month, and a increase of 254.3 bln.tog or 83.1 percent compared to same period of the previous year.

In Securities trading of the first 10 months of 2013, the 59.4 mln.shares valued at 68.7 bln.tog were traded. The Securities trading was decreased by 74.8 bln.tog or 52.1 percent and shares decreased by 72.2 mln.shares or 54.9 percent compared to same period of the previous year.

In the first 10 months of 2013, total equilibrated revenue and grants of the General Government Budget amounted to 4458.8 bln.tog and total expenditure and net lending amounted to 4641.8 bln.tog, representing deficit of 183.0 bln.tog in the equilibrated balance of General Government Budget.

In the first 10 months of 2013, current revenue of the General Government Budget amounted to 4458.0 bln.tog and current expenditure reached 3539.0 bln.tog. Thus, the budget equilibrated current balance was in surplus of 919.0 bln.tog.

Compared to same period of the previous year, tax revenue increased by 439.6 bln.tog or 12.6 percent. The increase was mainly due to the increases of 201.3 bln.tog or 15.2 percent in taxes on goods and services, 149.0 bln.tog or 20.9 percent in income tax, 147.9 bln.tog or 27.8 percent in social security contribution, although there was decreases of 102.0 bln.tog or 16.2 percent in other taxes.

Compared to same period of the previous year, non-tax revenue increased by 112.6 bln.tog or 27.7 percent. The increase was mainly due to the increases of 63.4 bln.tog or 92.7 percent in revenues from oil petroleum, 59.6 bln.tog or 2.2 times in interest and fines, 12.3 bln.tog or 7.4 times in revenues from budget entities although there was decreases of 27.3 bln.tog or 72.9 percent in revenues from dividends.

In the first 10 months of 2013, total expenditure and net lending of the General Government Budget increased by 120.3 bln.tog or 2.7 percent to 4641.8 bln.tog compared to same period of the previous year. This was mainly due to increases of 274.3 bln.tog or 17.4 percent in expenditure of goods and services, 84.8 bln.tog or 3.1 times in lending minus repayments, 62.7 bln.tog or 65.6 percent in interest payments although there was decreases of 221.0 bln.tog or 12.6 percent in subsidies and transfers, 80.5 bln.tog or 7.6 percent in capital expenditure.

In the first 10 months of 2013, Mongolia traded with 130 countries from all over the world and total external trade turnover reached 8821.2 mln.US dollars, of which exports made up 3480.2 mln.US dollars and imports made up 5341.0 mln.US dollars.

Foreign trade balance showed a deficit of 1.9 bln.US dollars in the first 10 months of 2013, reflecting 213.8 mln.US dollars or 10.3 percent decrease compared to same period of the previous year.

Total external trade turnover decreased by 582.8 mln.US dollars or 6.2 percent, of which imports down by 398.3 mln.US dollars or 6.9 percent, and exports down by 184.5 mln.US dollars or 5.0 percent, compared to same period of the previous year.

Mineral products, textile articles accounted, natural or cultured stones, precious metal, jewelry, coins, raw & processed hides, skins, fur & articles, animal origin products for 96.9 percent of the total export value amount.

III. Economic sector indicators  

On the 1st of November 2013, 384.3 thous.tons of cereals, 193.7 thous.t of potatoes, 100.1 thous.t of vegetables were harvested and 1055.0 thous.t of hay harvest, 31.5 thous.t of handmade fodder and 2949.6 t of silage crops were produced.

Compared to same period of the previous year, vegetables rose by 2.3 thous.t or 2.3 percent, silage crops rose by 1974.3 t or 2.0 times, cereals down by 86.6 thous.t or 18.3 percent, hay harvest down by 85.0 thous.t or 7.5 percent, potatoes down by 51.9 thous.t or 21.1 percent, handmade fodder down by 2.3 thous.t or 6.7 percent.

In the first 10 months of 2013, the total industrial output increased by 222.6 bln.tog or 12.2 percent to 2046.9 bln.tog (at 2005 constant prices) compared to same period of the previous year. The increase in the industrial output was mainly due to 0.8-60.2 percent, increases in mining and quarrying products such as coal, crude oil, copper concentrate with 35 percent, gold and 0.2 percent to 8.2 times increases in industrial main products of manufacturing sector such as wine, soft drinks, bread, copper 99 %, kind of sausage, milk, metal foundries, combed down, concrete mortar, vacuum windows and doors, printing plastic cards.

In the first 10 months of 2013, 17397.5 thous.t freight and 3190.4 thous.passengers (double counting) were carried by railway transport. Compared to same period of the previous year, the number of carried freight rose by 448.9 thous.t or 2.6 percent and the number of carried passengers decreased by 178.0 thous.persons or 5.3 percent.

The revenue from railway transport increased by 977.9 mln.tog or 0.3 percent to 350.2 bln.tog in the first 10 months of 2013, compared to same period of the previous year.

In the first 10 months of 2013, 3480.1 t freight and 660.2 thous.passengers (double counting) were carried by air transport. Compared to same period of the previous year, the number of carried freight increased by 94.5 t or 2.8 percent, the number of carried passengers rose by 5.2 thous.persons or 0.8 percent.

The revenue from air transport increased by 21.5 bln.tog or 12.6 percent to 193.0 bln.tog in the first 10 months of 2013, compared to same period of the previous year.

According to the report of the Institute of Meteorology and Hydrology, maximum precipitation was registered in Ulaanbaatar city (34.5 mm) in October 2013. In October 2013, Khovsgol soum of Dornogobi aimag had the highest air temperature (29.6°C), while Alag-Erdene soum of Khovsgol aimag had the lowest air temperature (-27.6°C).

Wind speed reached 35 m/sec in Sainshand soum of Dornogobi aimag.

Daily average concentration of nitrogen dioxide exceeded 30 times around the West crossroad of Ulaanbaatar city, 19 times around the 32nd Toirog, 10 times around Kharkhorin market, 7 times around the 1th micro district, 6 times around the 13th micro district, daily average concentration of sulphur dioxide exceeded 5 times around the 13th micro district, 3 times around the 32nd Toirog, 1 times around the 1th micro district and 1 times around the Kharkhorin market, particulate matter less than 10 micrograms exceeded 25 times around 13th micro district and around the West crossroad, 23 times around the 32nd Toirog, 20 times around the Kharkhorin market, 2.5 micrograms exceeded 14 times around the West crossroad, 9 times around 13th micro district from the maximum allowable concentration of air quality standard in October 2013.

In the first 10 months of 2013, 3899 disasters and accidents occurred. As a result, 199 people died, 235.3 thous.livestock and animals had lost. There were 3274 times fires of construction, 176 times forest fires 120 accidental floods and river and lake accidents, 71 times animal madness diseases, 52 times heavy rain and floods, 3.5 magnitude earthquake 39 times, 37 times severe storms, 27 times thunder, 26 times related to chemical substance usage and emergency calls, 18 times anthrax, 14 times industrial accident in the first 10 months of 2013.

In the first 10 months of 2013, estimated damage caused by the disasters and accidents amounted to fires of construction 8.7 bln.tog, fires on forest 6.1 bln.tog, heavy rain and floods 3.1 bln.tog, severe storms 700.4 mln.tog, foot and mouth disease 595.5 mln.tog, thunder 125.8 mln.tog, animal madness diseases, anthrax, malignant catarrhal fever, chemical substance usage and emergency calls 76.0 mln.tog.

In the first 10 months of 2013, floods and river and lake accidents 118 people, fires of construction 52 people, thunder and industrial accident respectively 8 people, mining and rock falls artisanal mining and rock falls 6 people, heavy rain and floods 3 people, fires on forest and severe storms 2 people died.

Compared to same period of previous year, disaster and accidents occurred up by 532.

A loss and deaths of livestock and animals increased by 223.1 thous.heads in the first 10 months of 2013, compared of the previous year.

Link to report

 

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Munkhdul Badral Bontoi

Founder & CEO

Email: mogi@covermongolia.mn

Mobile: +976 9999 6779

Skype: mogibb

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