SCOPE: Mongolia

DATA COLLECTION METHOD: Secondary research

TIME PERIOD: 2022.02.18 – 2022.04.20

GOAL: The main purpose of this market research is to study the current situation of Mongolia's mining industry, the import market of mining machinery and equipment, and to analyze the information on machinery and equipment currently used in the industry.

MAIN FINDINGS: It is necessary and important for any business to determine their resources and make decisions by studying the market. This research has become significant research for heavy machinery and equipment sales and rental service providers and consumer organizations to get a wide range of information at a low price. To briefly summarize the main findings of the research, in the last 3 years, due to many unpredictable events in global economic growth and policy planning, our country's economic indicators such as GDP, mining industry income, and foreign trade have increased until 2019, maintaining their growth of many years. In 2020, due to the impact of the epidemic, it decreased, and in 2021, it increased again. In 2021, a total of 1.4 trillion MNT of mining machinery and equipment was imported, which increased by 48.5 percent from 2020, but decreased by 20.7 percent from 2019. A total of about 450 individuals and enterprises traded about 12,000 machines and equipment of about 90 brands with 37 countries.