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Thursday, July 31, 2014

[BREAKING: FDI down 70% in first half as MNT sets another low, current account deficit $603.6m]

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- BREAKING NEWS -

Thursday, July 31, 2014

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FDI -70% to $873.2 million, Current Account Deficit -62% to $603 million - Preliminary BoP, First 6 Months of 2014

July 31 (Bank of Mongolia) --

Main indicators:

Current account deficit stands at US$ 603.6 million which is decrease of 62 percent or US$ 1,004.3 million from the previous year. This includes (i) 113 percent decrease of international trade in goods’ deficit, thus showed surplus of US$ 86.0 million; (ii) international trade in services’ deficit decreased by 11 percent to US$ 649.8 million; (iii) deficit on income account dropped by 51 percent to US$ 143.4 million; and (iv) surplus on current transfer increased by 81 percent to US$ 103.5 million.

Capital and financial accounts showed surplus of US$ 2.6 million which is decrease of 97 percent or US$ 884.9 million from 2013. This is due to 70 percent decline of foreign direct investment to Mongolia which equals to US$ 873.2 million and increase in other investment deficit by US$ 465.5 million.

Such increase in other investment were caused by following factors (i) US$ 209.5 million increase of trade credit receivables, (ii) US$ 187.3 million decline on disbursement of loans.

Balance of Payment for the First 6 Months of 2014

External sector statistics

Link to release

 

BoM MNT Rates: Thursday, July 31 Close

 

7/31

7/30

7/29

7/28

7/25

USD

1,870.92

1,870.00

1,867.19

1,860.88

1,856.92

EUR

2,506.28

2,505.52

2,508.10

2,499.44

2,500.62

CNY

303.14

302.78

302.13

300.73

299.84

GBP

3,161.48

3,166.75

3,170.77

3,159.31

3,152.21

RUB

52.70

52.45

52.46

52.60

52.94

July MNT vs USD, CNY Chart:

 

Link to rates

 

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