Trade Balance in Mongolia
Mongolia - Trade BalanceA 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
|Trade Balance (USD billion)||0.9||1.6||1.9||1.1||1.5|
5 years of economic forecasts for more than 30 economic indicators.
Mongolia Trade Balance Chart
Source: Bank of Mongolia and FocusEconomics calculations.
|Exchange Rate||2,735||-0.04 %||Jan 01|
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