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Morning! After nearly 2 decades, Mongolia and China have finally agreed to build the Gashuun Sukhait–Gants Mod cross-border railway, with construction set to begin in April 2025 and take 2.5 years. Talks began in the early 2000s—so for those of us born around that time, it’s been a lifelong saga. Now, 20 years later, they’re finally moving forward. Funny and a little tragic to say, an entire generation grew up watching these never-ending negotiations inch forward. 😓

Today’s highlights in 3 sentences…

• 🏦 Government’s First Dollar Bond

• 🫶🏻 Marriage in Mongolia

• 💸 Dividends Distribution Continues

Buckle Up!

MARKET

• MNG: Foreign trade turnover reaches $2 billion, with a $46 million surplus in January 2025.

• GOV: State budget revenue declines by 36.7% compared to the same period last year, totaling ₮1.7 trillion. Meanwhile, expenditure increases by 5.2% to ₮2.2 trillion.

• NSO: Inflation in the first month rises to 9.6%, reflecting a 2 percentage point increase from the same period last year.

💍 Nearly Half of Mongolians are Married

Belated Happy Valentine’s Day! Did you know that in Mongolia, 360 couples share the same name, while 287 couples celebrate their love on the same birthday? Nearly half of the population is already married. However, statistics reveal a clear trend: women tend to marry earlier than men, although the gap diminishes with age.

Trend in the Age Gap

In Mongolia, 49.9% of the population is already married, while 34.6% have never been married. However, when and how people enter marriage varies significantly by age and gender.  

• 🐥 Early Marriage: Marriage is uncommon in this age group, but women still marry at a higher rate than men. Only 2.8% of men are married, compared to 6.4% of women. This early disparity suggests that social or cultural norms encourage women to settle down at a younger age.

• 👨🏻‍🦱👩🏻‍🦰 The Gap Widens in Young Adulthood: Marriage rates rise significantly, but the gender gap remains. Among those aged 25-34, 55.5% of women are married, compared to 43.7% of men. This trend indicates that men often delay marriage due to career priorities, financial stability, or personal choices.

• 🗽 Marriage Becomes the Norm After 35: By their mid-30s, marriage becomes the norm for most Mongolians, and the gender gap nearly disappears. In this age group, 82.1% of men and 86% of women are married.

• 🤔 Near-Universal Marriage in Later Life: For those aged 45-55 and older, marriage becomes almost universal, with both men and women reaching a 95.8% marriage rate. This suggests that long-term singlehood or lifelong bachelorhood is relatively rare in Mongolia.

🤔 Marriage Does Not Equal Births

Despite nearly half of Mongolians being married, the country is experiencing a significant demographic shift. Last year, the birth rate dropped to its lowest level since 2008, raising concerns about Mongolia’s future population growth. Several factors contribute to this decline. 

• 🙃 The rising cost of living, housing, and childcare discourages young couples from having children. More people prioritize careers, financial stability, and personal freedom before starting a family. Additionally, as men tend to marry later than women, childbirth may also be delayed.

Mongolia’s marriage trends show a strong cultural preference for settling down, but shifting economic and social dynamics are reshaping family life. If this trend continues, policies supporting young families may become increasingly important for sustaining population growth.

🚂 Choo, Choo! Dividend Distribution Train Rallies

The trend of companies distributing dividends gains momentum as the year progresses.

🗒️ Current Status: 10 Companies Announce Dividends

Since the start of the year, 10 public companies announce dividend distributions. Among these, KhanBank (KHAN) and APU (APU) stand out with the highest dividend payouts. For instance, KhanBank distributes 58.5% of its 2024 net profit, amounting to ₮373.5 billion, as a dividend of ₮195.35 per share, yielding a solid 16.1%.

• 🦄 Meanwhile, APU decides to distribute ₮69.2 billion from its second-half 2024 net profit, contributing to a total of ₮127.6 billion in dividends for the year. Their second-half dividend yield stands at 6.5% based on yesterday’s share price.

• 🏁 Dividend Yield Rankings: At the other end of the spectrum, Erdenet Suvraga (SVR) and Invescor NBFI (INV) offer the lowest dividend yields, while LendMN NBFI (LEND) provides the highest.

📈 Stock Price Reactions

Investors react positively to dividend announcements. Following KhanBank’s dividend announcement, its share price rises 9.6%, and Invescor NBSF’s share price rises by 4.62% the day after the announcement. Additionally, Monlogistics Holding (MLG), which announces both a dividend and a share buyback, sees a notable increase in its share price of 8.38%.

👏 Setting a Standard for Transparency

It’s good news for investors as 4 out of the 9 companies disclose their dividend payment dates clearly. LendMN NBSF, for the second year in a row, confirms its dividend payout date of April 4. Such transparency benefits investors, allowing them to plan and manage their dividend yield expectations effectively.

❌ No Dividends for Some Companies

However, 6 companies opt not to pay dividends. Gobi (GOV), which had initially planned to distribute dividends in 2024, reverses this decision, citing that its financial results do not meet the conditions necessary for dividend payments. For some companies, particularly those dealing with losses, and debts, or focused on expanding operations, not paying dividends is a strategic move to reinvest profits into growth.

Finally, investors are still awaiting decisions from the banks. Once those are made, we analyze the companies that raise expectations and provide updates accordingly. Stay tuned for more insights!

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⭐ Selected for you

ECONOMY & BUSINESS

• Mongolia Plans First Dollar Bond Since Credit Rating Upgrades. (Yahoo!Finance)

• The Hidden Cost of Mongolia's Mining Boom. (EastAsiaForum)

• Troy Minerals Submits Mining License Application for Tsagaan Zalaa Silica Project in Mongolia. (StockTitan)

POLITICS

• Mongolia Welcomes Cooperation with IRCS. (TehranTimes)

• How the Curtailing of US Aid Impacts Mongolia’s Development. (TheDiplomat)

• Nutrition Status of the Population of Mongolia. (UNICEF)

• Mongolia’s First Conference on National Strategy for AI and Big Data. (UNDP)

• What to Watch as Mongolia’s Prime Minister Oyun-Erdene Visits China. (TheDiplomat)

• Russia Expands Feed Exports to Central Asia. (AllAboutFeed)

CULTURE & LIFESTYLE

• SBIFF Day 9 | Balletic Action Connection, and News from Mongolia. (Independent)

• Mongolia on a Soft Power Jolt to Develop Tourism, Cultural Exports Take to Stages Worldwide. (InteliNews)

• Mongolia: The Sleeping Giant of VALORANT. (Valo2Asia)

• Breastfeeding Rates Decline in Mongolia. (XinhuaNews)

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Publisher: Ts.Ankhbayar
Writer: M.Khulan
Graphics by: Ts.Tselmeg

Disclaimer: The information Inside Mongolia provides is for educational and informational purposes only. It is not intended to be or constitute financial advice, trading advice, or any other advice. The decision whether to consider the information we provide is solely our readers' independent decision.