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AmCham Mongolia Daily News Wire

January 18, 2021

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Ulaanbaatar authorities consider reopening home, clothing, beauty, and toy stores 
The Metropolitan Professional Inspection Department and Ulaanbaatar Mayor's Office reported that starting from today, stores selling electronic goods and furniture, mobile phone sales and service centers, express service points, and ski resorts will be reopening. 
The city's authorities plan to gradually reopen other businesses, such as home, clothing, beauty, toy, and fabric stores. 

Tax revenue totaled 8.5 trillion MNT in 2020, down 13.4 percent from 2019

The National Statistics Office reported that the state budget had a 4.5 trillion MNT deficit in 2020. Total expenditure and net lending reached 14 trillion MNT, a 20 percent increase from the previous year. Expenditure growth was driven by higher current and capital expenditures. Equilibrium income and aid were 9.4 trillion MNT.

Tax revenue, which accounted for 81 percent of state revenue, was 8.5 trillion MNT in 2020, down 13.4 percent from 2019. This was mainly due to a 10-20 percent reduction in social insurance revenue, VAT, and income taxes. In response to the pandemic, the government implemented 5.1 trillion MNT in stimulus measures, which included social security and personal income tax exemptions, with some tax and social security discounts extended to the end of the year. In the first half of 2020, mining exports were restricted due to border constraints, putting downward pressure on the budget. Annual coal exports fell by 21.6 percent.


Prices for consumer goods and services rose nationwide in December

Last month, prices for consumer goods and services increased by 2.3 percent compared to December 2019, and decreased by 0.6 percent compared to the previous month. The increase compared to the same period last year was affected by increases of 8.5 percent for food, non-alcoholic beverages, and water; an increase of 4.2 percent for alcohol and tobacco; 3.7 percent for clothing, textiles, and footwear; and a 3.8 percent increase in the cost of medicine and medical services.
However, prices for housing, water, electricity, gas, and other fuels decreased by 7.3 percent (electricity, gas, and other fuel fell by 13.8 percent) and transportation costs fell by 5.2 percent.
Inflation rose 2.3 percent in December 2020, 39.1 percent due to rising commodity prices. Simultaneously, the impact of rising commodity prices increased by 4.5 percentage points from the same period in 2019.


2020 domestic production data released
According to preliminary data for 2020, the nation's gross industrial output reached 16.5 trillion MNT, decreasing by 1.2 trillion MNT (6.7 percent) from the previous year. This decrease was mainly due to a decrease of 1.1 trillion MNT (8.4 percent) in mining and quarrying gross output and a 227.6 billion MNT (6.1 percent) decrease in manufacturing output.
However, electricity, thermal energy, and water supply production output grew by 74.9 billion MNT (6.7 percent) in 2020. Water supply, sewage, waste management, and remediation activity output increased by 23.6 billion MNT (21.5 percent) from the previous year.
In the mining and quarrying sector, the extraction of copper concentrate, iron ore, and gold increased by 1.1-24.6 percent compared to the previous year. In the manufacturing industry, the production of bottled water, soft drinks, juice, cement, flour, and milk rose by 0.8-11.5 percent compared to the previous year. Coal briquette and face mask production was 2.7-13.3 times higher compared to 2019.
However, in the mining and quarrying sectors, the extraction of brown coal, fluorspar, hard coal, and crude oil fell by 1.8-40.3 percent. In the manufacturing sector, the production of alcohol, alcoholic beverages, lime, copper cathode, combed cashmere, meat, concentrated coal, cashmere products, steel, and cigarettes decreased by 0.8-49.1 percent compared to the previous year.
Industrial output sales in 2020 reached 19.7 trillion MNT, a decrease of 902.3 billion MNT (4.4 percent) compared to 2019. The decrease mainly resulted from a 539.2 billion MNT (3.8 percent) drop in sales from mining and quarrying output, and a 470.6 billion MNT (8.8 percent) decrease in manufacturing output sales. 

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