Current Account in Mongolia
Mongolia - Current AccountThe economy slowed markedly in the third quarter, as a weakening external sector took its toll on economic activity. Export growth slowed from the high levels seen in H1, while, contrastingly, import growth accelerated to a two-year high. More positively, buoyant fixed investment and private consumption levels highlighted a healthy domestic economy. Looking to Q4, the picture appears to be one of moderation. In the first two months of the quarter, industrial production ebbed slightly and merchandise exports declined. Moreover, domestic credit contracted in October, which could potentially have knock-on effects for private consumption. In other news, Parliament recently approved the 2020 budget, which features a significant hike in spending and various policies and projects aimed at promoting economic growth.
Mongolia - Current Account Data
|Current Account (% of GDP)||-37.4||-15.8||-8.1||-6.3||-10.1|
5 years of economic forecasts for more than 30 economic indicators.
Mongolia Current Account Chart
Source: Bank of Mongolia and FocusEconomics calculations.
|Exchange Rate||2,735||-0.04 %||Jan 01|
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