Mongolia's automotive gasoline imports increase by nearly 39 percent

Source:Xinhua Published: 2017/11/18 8:14:47

The volume of imports of automotive gasoline to Mongolia grew by 38.7 percent year-on-year in January-October 2017 to 210.5 million US dollars, according to the National Statistics Committee of Mongolia on Friday.

Meanwhile, the import of diesel fuel increased by 90.7 percent compared to the same period in 2016, amounting to 347.9 million dollars.

As experts noted, the increase in volume of imported fuel demonstrates the activation of Mongolia's economy.

Meanwhile, the import of kerosene for the first 10 months of this year grew by 24 percent, compared to the same period last year. As a result, the total amount of imported aviation fuel was 24,800 tons.

It should be noted here that the Mongolian Parliament has increased the excise tax on imported fuel since July of this year in frames of the continuation of the implementation of IMF's Expanded Fund Facility Program in Mongolia.

According to the agreement reached with the IMF, the Parliament of Mongolia in October 2017 had to raise the excise tax on gasoline, but the Ministry of Mining and Heavy Industry of Mongolia proposed to postpone the consideration of the above-mentioned issue for uncertain term.

According to the National Statistics Committee, Mongolia imported about 94 percent of the fuel from the Russian Federation in 2016, in particular, from the Rosneft oil company.

In 2017, more than 96 percent of imported fuel was imported from Russia, and the rest from China.

Posted in: ASIA-PACIFIC

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