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[제　목] MONGOLBANK REPORTS

[작성자] MONTSAME

[작성일] 2002년11월23일

[화 일] 화일없음

MONGOLBANK REPORTS

MONGOLBANK REPORTS

Ulaanbaatar, November 22. /OANA-MONTSAME/. The comparison of the last 12 months' money
and price index changes with the previous year's shows that the volatility of price level has been
significantly reduced, inflation has been stable, amount of savings and loans has increased,
financial intermediation has deepened, and these outcomes demonstrate the real results of the
effective monetary policy. In the first ten months of this year, the total industrial output (at 1995 base
price) reached 226.0 billion togrogs, increased by 4.2% (9.2 billion togrogs), and industrial
products like mineral exploration decreased by 7.6%, manufacturing increased by 29.0%, and
electricity, thermal energy, steam industry -- by 3.5% from the same period of the last year. In
October, deflation, represented by consumer price index, increased by 0.3%. Though this is 2.8%
higher compared to the same period of the previous year, this is 1.8% lower than the beginning of
the year. This 2 percent decrease is the least growth of inflation since 1991. Compared to the
previous month, in October, the price decline of the products with the highest weight in consumer
basket such as meat, meat products and vegetables by 5.7% and 11.3% respectively have caused
0.3% increase in general consumer price index. In this month, out of 239 items in the consumer
basket, prices of 57 percent have increased, 26 percent have decreased, and the prices of
remaining 156 percent have been stable. In October, the total external trade turnover equaled to
1137.5 million USD, increased by 208.6 million USD or 22.5% from the same period of the last year.
The external trade was in deficit with the amount of 137.3 million USD in October, and this was
caused by the export increase of 9.6% from the same period of the last year, reaching 500.1 million
USD and the import increase of 34.8%, reaching 637.4 million USD. The main reason for the export
increase was the growth of textile products by 2.3 million USD, animal origin products by 1.7 million
USD, and raw and processed skins by 2.3 million USD. On the other hand, the increase of
products with high weight in import such as plant origin products by 24.7 million USD, food
products by 9.3 million USD, sewn products by 21.1 million USD, iron and iron products by 3.3
million USD, machinery, equipment, electronic appliances, recorders, television set, and their
spare parts by 26.3 million was the main influence on the import growth. Compared to the same
period of the previous year, the import financing went down by 19.8 million USD or 17.7% and the
net balance or short-term capital flow decreased by 140.3 million USD, reaching negative level of
45.2 million USD. By the end of October 2002, the official bank's midpoint rate of Togrog with USD,
which was announced by Mongolbank, reached 1121.00 togrogs, depreciated by 0.4% (4.00
togrogs) from last month, 1.7% (19.00 togrogs) from the beginning of the year, and 1.9% (21.00
togrogs) from the same period of the previous year. end PSH