Mongolia

Герб
 Флаг
 

Coat of arms: the outer rim features a tumen nasan, symbolizing eternity, surrounding a circular blue field, symbolizing the sky. On the centre of the field is a combination of the Soyombo symbol and the wind horse (treasured steed), symbolizing Mongolia's independence, sovereignty, and spirit. Sun, moon and fire symbols derived from the Xiongnu. Above the field is a Cintamani, representing the Buddhist Three Jewels, which in Mongolian folklore grants wishes. Below the central emblem is a green mountain range, with the Wheel of Dharma at the center. On the bottom of the mountain range and wheel is a khadag, a ceremonial scarf.

Flag: is a vertical tricolour with two reds at in sides and a blue in the middle, with the Soyombo symbol defacing the left red stripe. The blue stripe is described as the eternal blue sky and the red stripes symbolise thriving forever. The Soyombo symbol is a geometric abstraction that represents fire, sun, moon, earth, water, and a round shape as dualist aspect.

 

 
  • Anthem: «The national anthem of Mongolia» was created in 1950, composed by Bilegiin Damdinsüren and Luvsanjambyn Mördorj, and written by Tsendiin Damdinsüren.
  • Official languages: Mongolian.
  • Geographical location: it is a landlocked country in East Asia. It is sandwiched between China to the south and Russia to the north.
  • Administrative divisions: Mongolia is divided into 21 provinces and subdivided into 329 districts.
  • Capital: Ulaanbaatar.
  • Governance: the politics of Mongolia takes place in a framework of a semi-presidential representative democratic republic, and of a multi-party system. Executive power is exercised by the President and the Government. Legislative power is vested in both the government and parliament. The Judiciary is independent of the executive and the legislature. 
  • Population: 3.2 million.
  • Currency: Tögrög.
  • GDP: $11,6 billion.
  • Time zone: UTC +7, UTC +8.
  • Telephone code: +976.
  • Barcode: 865.

 

Trade and economic cooperation Belarus and Mongolia

Mongolia's economic performance in 2017: 

  • GDP per capita — $3 959; 
  • Foreign debt — about $26 billion; 
  • Inflation — 6.4%;
  • Exports — $6.2 billion; 
  • Imports — $4.3 billion.

Mongolia's Most Valuable Export Products:

  • Copper;
  • Coal;
  • Animal products;
  • Wool;
  • Clothing.

Mongolia's Most Valuable Import Products:

  • Processed petroleum oils;
  • Machinery and equipment;
  • Industrial goods;
  • Food products.

Belarusian exports to this country are quite diversified and prevail in trade turnover. Mongolian exports to Belarus are small.

Dynamics of trade between Belarus and Mongolia (in million U.S. dollars)

Year

Turnover

Exports

Imports

Surplus

2009

10648

10604

44

10560

2010

13161

13161

 

2011

77448

77446

2

77444

2012

111364.6

111364.2

0,4

111363.8

2013

107755.9

107731.2

24.7

107706.5

2014

22404.8

21706.1

698.7

21007.4

2015

23195.3

23149.9

45.4

23104.5

2016

9895.7

9826.9

68.8

9758.1

2017 

13642.7

13517.4

124.7

13392.6

2017 as compared to 2016, %

137.9

137.6

181.4

 

In 2017, Belarusian exports increased by 37.6% or $3.7 million to $13.5 million, a growth rate (excluding exports of processed petroleum oils) was 139.0%. Belarus exceeded its exports plan by 110% in 2017. Mongolian exports accounted for $124.8 thousand, main export item was fluorspar ($124.0 thousand).

Belarusian exports of services increased by 214.0% to $4.1 million, Mongolian exports of services amounted to $3.9 million. Trade surplus was $163.5 thousand in 2017, trade deficit was $1.1 million in 2016.

Belarus mainly exports:

  • Mining vehicles ($4.8 million); 
  • Milk in powder ($3.9 million);
  • Spare parts to cars and tractors ($0.8 million);
  • Bakery confectionery products ($0.4 million);
  • Medicaments ($0.3 million); 
  • Electrical transformers ($0.3 million); 
  • Footwear ($0.3 million);
  • Synthetic staple fibres, not carded ($0.2 million);
  • Packings of plastics ($0.2 million).

Main services provided by Belarus are trucking services (73.2% of total exports of services) and rail services (20.6%). Main services provided by Mongolia are rail services (93.1%).

 

This article has been prepared on the basis of information provided by the National Centre for Marketing and Price Study of the Ministry of Foreign Affairs, and the Embassy of the Republic of Belarus in Mongolia, and taken from public sources. The information presented herein is for informative purposes only. In this regard, it may be useful for the companies, which have been working in Mongolia for a long time, as well as for those, which are going to enter this market. Any questions, feedbacks and comments concerning this article are welcome. All of them will be fully considered and taken into account, if possible. If you have any information that may be interesting and useful for the visitors of this page, please write to us.

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