Total FDI in 2010-2019 reaches MNT 37.2 trillionEconomy
Ulaanbaatar /MONTSAME/. The National Statistics Office has recently released the latest edition of the ‘Economic Security’ survey. In its section titled ‘Balanced policy of investment’, the total investment made in Mongolia reached MNT 83.3 trillion between 2010 and 2019, and out of them,
- MNT 36.6 trillion (43.9 percent) are domestic investment,
- MNT 46.7 trillion (56.1 percent) are foreign investment.
According to the survey, 36.1 percent of the domestic investment was budget investment in 2010-2019, while foreign direct investment (FDI) accounted for 81.8 percent of total foreign investment.
Survey also shows that the foreign direct investment in Mongolia during the given period reached MNT 37.2 trillion in total, accounting for 44.7 percent of the total investment in the country, however, it’s unstable and volatile.
Investment in the mining sector accounts for 37.5 percent of gross domestic product, as the share of mining industry’s investment equaled to 63.7-56.3 percent of the gross domestic product between 2011 and 2012 and decreased to 22.4 percent in 2015.
With the commencement of the Oyu Tolgoi open pit mine development, large inflows of investment came in 2011, and the foreign direct investment of 2011 and 2012 accounted for already 24.7 percent of the total investment over the last 10 years. Caused by world market price drops and domestic political instability, the FDI to Mongolia plummeted in 2013 and 2014.
In terms of countries invested, Canada financed 47.5 percent of the total foreign direct investment made 2011, and 65.7 percent in 2019.
Investment from Japan to Mongolia had slowed down, from 6.6 percent of foreign direct investment in 2014 down to 4.3 percent in 2019.