National Statistical Office reports on February’s socioeconomic indicators

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The National Statistical Office released its monthly report on socioeconomic indicators of the country last week. Below are the February 2016 socioeconomic indicators of Mongolia.

Unemployment

The number of unemployed reached 35,100 at the end of February 2016, which is an increase of 1,300 (3.9 percent) compared to the same period of the previous year and an increase of 500 (1.4 percent) compared to January.
In the first two months of 2016, Social Insurance Fund revenue amounted to 240.7 billion MNT, reflecting an increase of 50.7 billion MNT (26.7 percent), and the expenditure of the fund reached 264.9 billion MNT, a rise of 33.7 billion MNT (14.6 percent) compared to last year. The fund issued a total of 23.7 billion MNT in pensions and welfare benefits from the Social Welfare Fund to 176,400 recipients. The number of pensioners and welfare recipients increased by 17,000 (10.6 percent) compared to the same period last year, and the amount issued increased by 1.9 billion MNT (8.5 percent).

Money Supply

According to Mongol Bank, money supply (broad money or M2) reached 10 trillion MNT at the end of February 2016. It increased by 142 billion MNT (1.4 percent) from the previous month, and decreased by 237.7 billion MNT (2.3 percent) compared to the same period of last year.
At the end of February 2016, currency issued in circulation reached 655.5 billion MNT, a decrease of 58.2 billion MNT (8.2 percent) from the previous month and a decrease of 120.4 billion MNT (15.5 percent) compared to last year.

Lending

Loans outstanding amounted to 11.6 trillion MNT at the end of February 2016, 155.6 billion MNT (1.3 percent) lower than the previous month and 549.5 billion MNT (4.5 percent) lower than the same period last year.
Principals in arrears reached 974.5 billion MNT at the end of February 2016, increased by 35.6 billion MNT (3.8 percent) from January and by 576.4 billion MNT (2.4 times) compared to the same period in 2015.
At the end of February 2016, nonperforming loans over the banking system reached 889.1 billion MNT, an increase of 4.8 billion MNT (0.5 percent) from the previous month and of 222.1 billion MNT (33.3 percent) compared to the same period of the previous year.

Financial Market

In February 2016, 35.6 million shares worth 51.5 billion MNT were traded on the stock market. The total turnover of stocks decreased by 60.1 billion MNT (53.8 percent) and securities trading increased by 22.7 million shares, 2.8 times higher than the same period in 2015.

Foreign trade

In February 2016, Mongolia traded with 105 countries and total external trade turnover reached 965.4 million USD. Exports amounted to 613.3 million USD and imports 352.1 million USD.
Total external trade turnover decreased by 250.2 million USD (20.6 percent). Exports decreased by 139.9 million USD (18.6 percent) and imports decreased by million USD (23.8 percent) compared to last year.
External trade balance showed a surplus of 290.9 million USD in February 2015, and 261.2 million USD in February 2016.

Consumer price index

In February, the national consumer price index increased by 0.7 percent compared to the previous month, by 1.2 percent since beginning of the year, and by two percent compared to February 2015. The increase was mainly due to price increases of 23.1 percent in education; 4.7 percent for clothing, footwear, and textiles; and 4.5 percent for furnishings and household equipment.

Transportation

In February 2016, 2.82 million tons of freight and 424,500 passengers were carried by railway transport. Compared to last year, freight increased by 68,700 tons (2.5 percent) and passengers decreased by 59,600 (12.3 percent). Revenue from railway transportation in February 2016 reached 56.1 billion MNT, reflecting an increase of 4.6 billion MNT (8.9 percent) compared to the same period last year.
In February 2016, 387.9 tons of freight and 84,900 passengers were carried by air transportation. Air freight decreased by 23.5 tons (5.7 percent) and passengers increased by 300 (0.3 percent) compared to last year. Revenue from air transportation reached 35.1 billion MNT, which is an increase of 2.1 billion MNT (6.5 percent) compared to February 2015.

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