Mineral Output Down As Mongolia's Economy Shrinks

Government figures indicate that Mongolia’s industrial output shrank 7.6 percent in the first four months of 2009.

Industrial output during this period was $334 million, a decrease of $27 million over the same period last year.

Government officials attributed the decrease to a $5.7 million or 2.9 per cent reduction in mining and quarrying and $23 million drop in manufacturing.

Decreased mining output was mainly focused in minerals such as crude oil, copper concentrate, gold, fluor spar concentrate, and zincum concentrate.

At the same time, there was a reduction in output in manufactured products such as carpet, wheat flour, beer, wine, soft drinks, cigarettes, railway sleepers, cement, lime, articles of iron concrete and metal beds.

Source: Mongolia-Web