Trade Balance in Mongolia

Mongolia Trade Balance | Economic News & Forecasts

Mongolia - Trade Balance

A recent release shows that GDP fell in the third quarter, following a small contraction in Q2, amid high Covid-19 cases, albeit without any escalation in restrictions. Overall, GDP components faced a less forgiving base effect in Q3: Private consumption fell at a similar pace to Q2, government consumption declined at a faster rate and fixed investment slumped. Meanwhile, exports fell markedly while imports soared, and consequently the external sector weighed on overall GDP in Q3. Moving on to Q4, despite some pandemic-related border checkpoint closures in late October, strong Chinese demand for coal amid power shortages and the ban on Australian coal should have supported exports of the black diamond. That said, cumulative data suggests a slowdown in industrial output in October, mainly due to the mining subsector.

Mongolia - Trade Balance Data

2015   2016   2017   2018   2019  
Trade Balance (USD billion)0.9  1.6  1.9  1.1  1.5  

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Mongolia Trade Balance Chart

Mongolia Trade
Note: Trade balance in USD bn.
Source: Bank of Mongolia and FocusEconomics calculations.

Mongolia Facts

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

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