Current Account in Mongolia
Mongolia - Current AccountEconomic growth accelerated in the third quarter in annual terms, propelled by investment related to the colossal Oyu Tolgoi copper mine. Although fixed investment growth slowed, it remained strong nonetheless, and the economy further benefitted from a build-up of inventories, likely related to industrial machinery imports. Overall, the external sector’s performance improved in the quarter as imports slowed while export growth picked up. However, private spending growth slowed to a near standstill. Meanwhile on 21 November, IMF staff declared that Mongolia was on track to meet all of its support program’s year-end targets.
Mongolia - Current Account Data
|Current Account (% of GDP)||-35.7||-15.9||-8.0||-5.7||-9.7|
5 years of economic forecasts for more than 30 economic indicators.
Mongolia Current Account Chart
Source: Bank of Mongolia and FocusEconomics calculations.
|Exchange Rate||2,657||-0.04 %||Jan 16|
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