Research On Ways To Expand Mongolian Iron Ore Export

As the demand for steel and iron increases all over the world, not only in Mongolia but also the demand has already increased in our neighbor countries. Mongolia is a natural resource haven. Mongolian iron ore is the main source for export. The Mongolian national resource foundation has announced that our iron and steel ore is453million tons. Since2004Mongolian iron and steel ore has started mining and has been continuing rapidly in the recent few years. It has been10years since Mongolia has transformed into a market economy from a planned economy. As a result, Mongolia has started to enroll independently in World Trade Center. Even though Mongolia has found its rightful place in the international businesses,there is still a big gap between the international trade center, as import is overflowing the export. So due to the unbalanced situation of this import and export Mongolia has turned into an import focused country. When the import overflows the export in a country, the foreign currency flow tends to increase, leading to an unbalanced trade within the country.Mongolia exports a comparatively few amounts of products, some being iron ore, coal, steel, bronze etc. For Mongolia iron ore is currently a part of the strategically announced product. Currently Mongolia is exporting iron ore as its raw material. Due to globalization and the increasing development of technology and scientifically new foundlings, and the fast growing economy, I think exporting iron ore by raw material has its negative sides on economy and international trade of Mongolia. Turning raw material into a certain product, residual value products and increasing its export flow, and start to make use of the large amounts of iron ore that is being unused at the moment. These are currently the main and important topics for economy nowadays. Iron ore export is increasing continuously, and is the3rd most important strategically announced product. Research and statistics of iron ore hasn’t been done to a very great degree and this has caught my attention.I, myself is a Mongolian student in a foreign country, and I wanted to do research on this topic about iron ore and its export. By this topic I’ve written iron ore’s export and its present situation, and also the factors that it’s facing and some problems that need to be paid more attention to. Furthermore, by the present situation research, I personally have done research on the6main factors that influences the iron ore export, such being, Mongolian supply factors, international marketing demand factors, international marketing price, Mongolian policy factors, and economy factors, and Mongolian construction factors are included. By doing a great deal of research on the previous chapters I have extracted some worth trying methods, and thus has formulated my conclusion.This article has2low points, the1st being the research and statistic relating to this certain topic is very few and limited.2ndly the researches done beforehand about iron ore export is lacking in many ways.