Mongolia exported 6.1 million barrels of crude oil to China in 2018

AKIPRESS.COM – Mongolia exported 6.1 million barrels of crude oil to China in 2018, local media reported Monday, citing the country’s Ministry of Mining and Heavy Industry.

As a result, Mongolia received 223.4 billion Mongolian Tugrik (84.94 million U.S. dollars) into the state budget, Xinhua reported.

During this period, Mongolia extracted 6.4 million barrels of crude oil.

Mongolia’s economy will accelerate this year and exceed international forecasts, according to experts of the Central Bank, because prices of natural resources including copper, gold and coal, which have a significant impact on Mongolia’s economy, will be relatively high.

The increase in foreign investment and the development of mega-projects will also have a positive impact on the Mongolian economy, the experts added.

Meanwhile, more than 97 percent of imported fuel was imported from Russia.

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