Nation’s balance of payments deficit declines by 65 percent in 2016


Mongol Bank reported that the nation’s balance of paymentssaw a deficit of 93.6 million USD, which was a figure down by 171.6 million USD (65 percent) in comparison to the same period last year.

Analysts believe that the decline was mainly influenced by a foreign trade account surplus of 146.9 million USD (21 percent) and a 138.9 million USD (26 percent) decrease in the foreign trade deficit.

The capital and financial balance of Mongolia currently equals 178.4 million USD, which is a result down by 179.4 million USD (50 percent) compared to the same period in 2015. The report also underlined that even though foreign direct investment was up by 65.2 million USD in comparison to last year, the nation’s income portfolio was down by 162.9 million USD, and other investment deficits increased by 71.6 million USD, influencing the balance of payments deficit.