AKIPRESS.COM - The production of the industrial sector in Mongolia reached 15.6 trillion tugriks in seven months, increasing by 5.4 trillion tugriks (53.2%) compared to last year, according to the preliminary estimates.

This was due to the increase of the mining production by 4.3 trillion tugriks (64.8%) and the processing industry by 825.7 billion tugriks (32%), Montsame reports, citing the National Statistics Office.

The total production of the mining and extraction industry reached 11 trillion tugriks in seven months by preliminary estimates, making increase of 4.3 trillion tugriks (64.8%) compared to the same period of the previous year. Growth of hard coal and lignite production by 2.9 trillion tugriks (3.4 times), gross ores production by 699 billion tugriks (13.5%), and oil production by 597.3 billion tugriks (5.1 times) mostly affected this increase.

The physical volume of copper concentrate, lignite, silver concentrate, hard coal, coal concentrate, oil, and fluoride concentrate increased from 26.1% to 9.8 times in the mining and extraction industry, while fluoride, zinc concentrate, unrefined gold, and iron ore production decreased by 7.1-48.2% compared to the previous year.

The physical volume of production of cathode copper, absolute alcohol, flour, liquid milk, cement, metal structure, and livestock meat increased from 0.8% to 2.7 times in the manufacturing sector, whilst production of cigarettes, water, soft drinks, juice, combed cashmere, vodka, coal briquettes, lime, and cashmere knitwear decreased by 1.8-41.5%.

The preliminary estimates indicate that sales of the products of the industrial sector in the first seven months of 2023 reached 25.1 trillion tugriks, increasing by 10.8 trillion tugriks (75.5%). This was due to the increase in the sales of the mining and extraction industry by 9.3 trillion tugriks (92.5%) and the sales of the processing industry by 1.2 trillion tugriks (36.8%).

Growth of the sales of the mining and extraction industries by 9.3 trillion tugriks (92.5%) compared to the previous year was mainly due to the increase of sales of the coal mining sector by 8 trillion tugriks (3.8 times), metal ore mining by 624.5 billion tugriks (8.9%), and oil mining by 555.5 billion tugriks (4.4 times).

According to the NSO, 17.1 trillion tugriks of the 17.7 trillion sales on the foreign market are from the mining and extraction sector. Coal accounted for 58.5% of foreign sales of mining products, metal ore for 36.2%, oil extraction for 4.2%, and other mineral extraction for 1.1%.