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Each year, Mongolia harvests 2900 tons of raw cashmere from 13 millions goats, and produces 25 percent of the total raw cashmere of world. The fiber length of Mongolian cashmere is the attribute for the premier quality cashmere products and produces yarn with the best spinning ability.
Archive for the 'Mongolian Economy' Category
Cashmere Production
Cashmere Processing
{mosimage}In Mongolia, herders hand comb goats in the spring, when the goats begin to naturally shed their cashmere undercoat. For first combing, cashmere is usually only harvested from the neck and belly of the goat, leaving the body covered for warmth. The herder will comb the same goats again as the weather warms, continuing to collect cashmere as the goats shed.
Unemployment
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Due to economic growth decline during the transition period, unemployment has been rising continually. The average unemployment rate from 1996 to 2001 was 5.6 per cent. At the end of 2002 the unemployment rate reached 3.6 per cent, decreasing by 2 percent compared with the average of 1996-2001.
Due to economic growth decline during the transition period, unemployment has been rising continually. The average unemployment rate from 1996 to 2001 was 5.6 per cent. At the end of 2002 the unemployment rate reached 3.6 per cent, decreasing by 2 percent compared with the average of 1996-2001.
Economic Indicators
The reform measures undertaken by the Government at the initial stage of the transition has led to the stabilization of the economic situation and recovery of the economy since 1993. The GDP growth rate increased to 2.3 per cent in 1994.
Private Sector
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As a result of successive and decisive policies of the Government, the
private sector has become a prevailing sector in the economy since
1995. Due to restructuring and privatization programs the private
sector expanded.
As a result of successive and decisive policies of the Government, the
private sector has become a prevailing sector in the economy since
1995. Due to restructuring and privatization programs the private
sector expanded.
Monetary Policy
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Tight monetary policy has been continuously pursued aimed at providing
an appropriate growth of monetary aggregates, to reduce the inflation rate, and to ensure a stable tugrug rate. Interest rates are used as one of the key tools of monetary policy in Mongolia.
Tight monetary policy has been continuously pursued aimed at providing
an appropriate growth of monetary aggregates, to reduce the inflation rate, and to ensure a stable tugrug rate. Interest rates are used as one of the key tools of monetary policy in Mongolia.
Fiscal Policy
The budgetary and tax policy of the Government in recent years has aimed at the stabilization of the macro economy.
Taxation
The fiscal federalism of Mongolia composes a two tier system as its banking sector, namely, central and local government levels.The intergovernmental transfer system, from the central to the local governments.
Financial Sector Development
Sixteen commercial banks, more than eighty non-banking financial institutions, around 200 savings and credit cooperatives, 34 broker and security firms, four leasing companies, and sixteen insurance companies are active in the financial sector.
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