According to figures published by the National Statistics Office, the number of business entities in the commercial sector grew 31.5 percent in 2008, and rose more rapidly than those engaged in other sectors.

The number of citizens running small shops and counters stood at 24,900. Preliminary estimates put the total sales of wholesale and retail trade entities at MNT 1,573.3 billion (at current prices), showing an increase of 48.5 percent or MNT 513.6 billion over 2007. Both the growth and the absolute figures were influenced by the rise of imports of all types of fuel and oil products by 60.5 percent.
Some 59.7 percent of the total sales were in wholesale trade and the other 40.3 percent was generated by retailers. The share of wholesale trade in the total sales increased 0.6 percent over 2007. At of the end of 2008, business entities earning more than MNT 5 billion had an average trading area of 1,151.3 m2, whereas those with incomes of MNT 100,000 or less occupied an average trading area of 63.2 m2. Some 1.6% of the total business entities worked up to 8 hours a day, 81.9% 8-10 hours, and 16.5% kept open 24 hours a day.

 

Source: en.news.mn

Feb 2, 2009