The Financial Express
Swasti Lankabangla Swasti Lankabangla

Mongolia's industrial production grows 23.3pc in Jan-May

| Updated: July 02, 2018 15:52:30

File Photo (Collected) File Photo (Collected)

The volume of industrial production in Mongolia grew 23.3 per cent in the January-May period compared to the same period last year, amounting to $2.439 billion US dollars.

The Ministry of Mining and Heavy Industry of Mongolia announced this at a press conference for local media on Thursday, reports Xinhua.

Sumiyabazar Dolgorsuren, minister of the mining and heavy industry, said that production of the main products of mining and extractive industries was up by 23.7 per cent, which is the main cause of the growth of industrial production.

In particular, coal production of the East Asian country increased by 48 per cent, and the volume of iron ore production went up 12.6 per cent against the corresponding period of 2017.

Currently, over 72.2 per cent of Mongolia's total industrial production is accounted for by mining industry products.

The minister said that the production volume of copper concentrate for this period increased by 3.0 per cent, and fluorite concentrate grew 39.5 per cent.

As for crude oil production, it fell by 9.0 per cent compared to the same period last year.

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