Current Account in Mongolia

Mongolia Current Account | Economic News & Forecasts

Mongolia - Current Account

Economic growth slowed in the second quarter but remained strong. The slowdown was due to weaker fixed investment and export growth. Both private and government consumption growth, for their part, accelerated in Q2. In terms of industrial production, despite dipping in June, output was strong in Q2 across all three sectors: mining and quarrying; manufacturing; and electricity, thermal energy and water supply. In less positive news, however, development of the Oyu Tolgoi gold-copper mine’s underground copper extraction section, which could turn the mine into the world’s third largest source of copper, continues to face problems; in July, operator Rio Tinto warned of further delays and costs reaching up to USD 1.9 billion.

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 Rate2,684-0.04 %Sep 04

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