Current Account in Mongolia
Mongolia - Current AccountGrowth should have stayed strong in the first quarter of the year, powered by brisk private consumption and external trade dynamics. Exports continued to surge throughout the quarter, buttressed by strong mining production on the back of the Oyu Tolgoi project. However, political uncertainty surrounding the colossal mine spiked in recent days after a group of lawmakers recommended a revision of the 2009 and 2015 investment agreements underpinning the project. Although the mining minister later ruled it out, investors will be on edge. Moreover, on 27 March, parliament voted to undermine the judiciary’s independence by empowering the president to quash a corruption investigation, a move that will likely further depress investor sentiment.
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||2,650||-0.04 %||May 13|
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