Mongolia (country)

A

Agriculture, Forestry, and Fishing

In 2003 over 22 per cent of the population was engaged in agriculture. The Mongolians are primarily herders; in 2005 the country had about 11.7 million sheep, 12.2 million goats, 1.84 million cattle, 2.01 million horses, and 256,600 camels. Collective farms and state farms controlled all cultivated lands and accounted for most of the nation’s livestock. 2000 saw the severest winter in the region in years, with temperatures plummeting as low as -50°C (-58°F), in January 2001. The United Nations and Red Cross appealed for millions of pounds of aid, after it was predicted that 6.6 million animals—almost a quarter of the nation’s herd—could die by the end of winter. Principal crops in 2005 (with production in tonnes) were wheat (140,000), barley (1,000), and oats (220,100; 1996); potatoes (85,000); and hay (655,100; 1996).

Mongolia’s forestry and fishing resources are limited. In 2005 total roundwood removals amounted to 631,000 cu m (22.3 million cu ft), the majority of it for use as fuel. The fish catch in 2004 (entirely freshwater) was 305 tonnes.

B

Mining

Mongolia’s rich deposits of iron ore are located near Darhan, an industrial centre that was developed with Soviet help. Annual coal production in 2003, from mines near Ulaanbaatar and Darhan, totalled some 6.45 million tonnes. The mining of copper and molybdenum began in the late 1970s near Erdenet. Other minerals produced include tungsten and fluorspar.

C

Manufacturing

Manufacturing is small and local in character but forms an important sector of the country’s economy. The major products include building materials, processed food and alcoholic beverages, leather goods, woollen textiles, furs, and wooden items. The Mongolian government has recently tried to expand manufacturing and attract investment.

D

Energy

In the late 1980s Mongolia had an installed electricity-generating capacity of about 900,000 kW. Production of electricity in 2003 was about 3 billion kWh, all generated by thermal facilities. Major power stations in the country are situated at Ulaanbaatar, Darhan, Choybalsan, and Sühbaatar.

E

Currency and Banking

The monetary unit of the Republic is the tughrik (tögrög) of 100 möngö (1,164.94 tughriks equal US$1; 2007). The bank of issue is the State Bank of the Republic of Mongolia (1924).