Current Account in Mongolia

Mongolia Current Account | Economic News & Forecasts

Mongolia - Current Account

Activity seemed to remain downbeat in Q3, as major trading partner China faced headwinds in the quarter. The domestic economy was likely suppressed by an increase in new daily Covid-19 cases, which peaked in the period, with associated deaths also at high levels. Moreover, available data on industrial production points to a cumulative slowdown in the quarter. However, restrictions were relatively loose, which should have propped up momentum somewhat. Moving on to Q4, despite some pandemic-related border checkpoint closures in late October, strong Chinese demand for coal amid power shortages, coupled with the recent rise in commodity prices, should have supported Mongolian coal exports. Moreover, China’s continued ban on Australian coal bodes well for exports ahead.

Mongolia - Current Account Data

2015   2016   2017   2018   2019  
Current Account (% of GDP)-8.1  -6.3  -10.1  -16.8  -15.6  

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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

Value Change Date
Exchange Rate2,735-0.04 %Jan 01

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