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- BREAKING NEWS -
Thursday, July 31, 2014
FDI -70% to $873.2 million, Current Account Deficit -62% to $603 million - Preliminary BoP, First 6 Months of 2014
July 31 (Bank of Mongolia) --
Current account deficit stands at US$ 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.
BoM MNT Rates: Thursday, July 31 Close
July MNT vs USD, CNY Chart:
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