Professional Documents
Culture Documents
Ulaanbaatar
2017
Monthly Economic Report/26
2,000
40% 25.3 billion.
30%
0 20%
10% Figure 2. State budget (bln MNT)
-2,000 0%
Income (bln MNT) Expenditure (bln MNT)
-4,000 -10% Income growth, yoy (%) Expenditure growth, yoy (%)
-20% 8,000 60%
-6,000
-30% 6,000 50%
-8,000 -40% 4,000
1 3 5 7 9 11 1 3 5 7 9 11 1 3 5 7 9 11 1 3 5 7 9 11 1 40%
2,000
2013 2014 2015 2016 2017
- 30%
Source: www.1212.mn (2,000) 20%
(4,000)
As of January 2017, share of mineral products (6,000)
10%
0%
in total export equals 87.6% whereas share of (8,000)
-10%
(10,000)
textile and natural, cultured stones metals (12,000) -20%
1 3 5 7 9 11 1 3 5 7 9 11 1 3 5 7 9 11 1 3 5 7 9 11 1
were 2.8%, 4.2% respectively. 2013 2014 2015 2016 2017
Source: www.1212.mn
Although border price of exporting copper
concentrate dropped, exporting coal price has
Details of budget performance in 2016M01,
been grown in recent months. For instance,
2017M01 are compared as follows:
border price of exporting coal grew by 2.2 times
than January 2016. And it was USD 29.6 per ton Figure 3. Details of budget income (bln MNT)
whereas touched USD 64.3 per ton presently. 300.5
360.9
2016M01
2017M01
Specifically, coal export income had an
influence on the total export growth
86.777.0 76.988.9
significantly. It was USD 34.3 million January 49.138.3 53.0
79.7
34.8
19.229.8 31.2
2016 whereas amounted USD 169.3 million in
Tax revenue Social Value added Excise tax Revenue of Other taxes Non tax
reporting month. security tax foreign revenue
contribution activities
163.2
2017M01
machinery and its equipment, electric
appliances.
62.3
49.1
The improving trade performance will have 31.0
17.3
1.6 3.0 - 2.1
a positive impact on international reserve Expenditures Current Interest Capital Subsidies Net lending
on goods and transfers expenditure
further and it equals USD 1.3 billion in services
0%
2000
Figure 7. USD, JPY and daily fluctuation
0 -10%
1 3 5 7 9 11 1 3 5 7 9 11 1 3 5 7 9 11 1 3 5 7 9 11 1
USDMNT JPYMNT
2013 2014 2015 2016 2017 2600 2.5% 25 5.0%
2.0% 4.0%
2500
Source: www.1212.mn, Bank of Mongolia 1.5%
23 3.0%
2400 2.0%
1.0% 21 1.0%
Annual M2 growth of 20.6% was 2300
0.5% 0.0%
2200
contributed by time deposit in MNT and foreign 2100
0.0% 19 -1.0%
-2.0%
-0.5%
currency, current account in MNT and foreign 2000 -1.0%
17 -3.0%
-4.0%
currency. Specifically, time deposit and current 1900 -1.5% 15 -5.0%
1/2/2016
6/5/2016
1/2/2017
2/23/2016
4/13/2016
7/27/2016
9/18/2016
11/10/2016
1/2/2016
2/17/2016
4/1/2016
5/18/2016
7/4/2016
8/19/2016
10/5/2016
1/7/2017
11/21/2016
account in MNT grew by 29.4%, 11.0% whereas
time deposit and current account in foreign
currency grew by 54.7%, 28.3% respectively Source: Bank of Mongolia
January 2017 compared with same month of BoM has been holding FX auction twice a week
last year. and ask amount was higher than bid based on
the auction request from commercial banks in
Annual inflation, has been maintaining its last auctions.
significant lower level, was 3.3% in first month
of this year.
Educati
Transport,
0.01%
Housing, Cloth,
0.5% 0.5%
Source: www.1212.mn,
1 2
https://mongolbank.mn/documents/pressrelease/20161219e.pdf http://www.imf.org/en/News/Articles/2017/02/19/PR1754-Mongolia-IMF-Reaches-
Staff-Level-Agreement-on-3Yr-EFF
Monthly Economic Report/26
V. Balanced of Payment
As a result of Balanced of payment (BoP)
performance last year, current account had a
deficit of USD 449.0 million, capital and
financial account was USD 707.4 million
respectively. BoP finally (total of current,
capital and financial accounts) equals USD -18.2
million.
Table 1. Balanced of payment (mln $)3
2016M01-
2016M12
12
I. Current Account 39.1 -449.0
I.1 Goods and services balance 217.4 187.8
1. Goods balance 352.3 1,329.9
2. Services balance -135.0 -1,142.1
I.2 Income balance -181.2 -832.3
I.3 Current transfers 2.9 195.5
II. Capital and Financial Account -40.0 707.4
II.1 Capital account 6.0 92.3
II.2 Financial accounts -45.9 615.1
1. Direct investment 110.9 -4,081.2
1.1 Abroad -2.7 -9.0
1.2 In Mongolia 113.6 -4,072.1
2. Portfolio investment -10.7 469.1
3. Financial derivatives 2.2 -1.7
4. Other investment -148.4 4,228.8
III. Net Errors and Omissions -29.3 -276.6
Total of Current, Capital and Financial
-30.1 -18.2
Accounts
3
BoP performance as of December 2016, The Bank of Mongolia