Current Account in Mongolia

Mongolia Current Account | Economic News & Forecasts

Mongolia - Current Account

The economy registered a strong first quarter, thanks to skyrocketing investment and a surge in exports, both related to the ramp-up of the Oyu Tolgoi copper mine. Moreover, this robust momentum appears to have largely carried over into the second quarter. Indeed, industrial production continued to show healthy growth in April and May, while exports remained solid despite a slight dip in May. On 28 June, the IMF completed its Article IV mission in Mongolia. The Fund reported good progress on improving economic resilience, notably by greatly strengthening foreign reserves, improving the fiscal balance and reducing public debt. Nevertheless, the Fund also stated that buffers remained insufficient to face major external shocks, particularly a downturn in mineral prices.

Mongolia - Current Account Data

2013  2014  2015  2016  2017  
Current Account (% of GDP)-37.4  -15.8  -8.1  -6.3  -10.1  

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Mongolia Current Account Chart

Mongolia Current Account
Note: Current account balance as % of GDP.
Source: Bank of Mongolia and FocusEconomics calculations.

Mongolia Facts

Exchange Rate2,660-0.04 %Jul 11

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