Tuesday, February 16, 2016

[BREAKING: Mongolia's GDP growth slows to 2.3% in 2015 in preliminary data]

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Tuesday, February 16, 2016

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Mongolia’s GDP Growth Slows to 2.3% in 2015: Statistics Office

By Michael Kohn

February 16 (Bloomberg) -- Mongolia’s gross domestic product grew 2.3% y/y in 2015, slowing from 7.8% in 2014, according to a release from the National Statistics Office on Tuesday.|

* Economy grew 11.6% in 2013, 12.3% in 2012 and 17.3% in 2011: NSO

* 2015 data is preliminary reading

* Consumer price index increased 1.7% y/y in Jan.

* Loans outstanding were 11.8t tugrik at the end of January, 2.5% decrease y/y

* Principles in arrears were 922.2b tugrik at the end of January, an 8% increase m/m, and an increase of 190% y/y

* Non-performing loans totaled 872.9b tugrik at the end of January, a 0.4% increase m/m and 32.8% increase y/y

* Tax revenue decreased 5.5% at the end of January y/y

* Total external trade turnover decreased 26.6% y/y in January; with exports decreasing 30.4% and imports decreasing 19.5%

* External trade balance was surplus of $130m in January compared with a surplus of $225.4m in the same period yr earlier

* Industrial production index was up 15% y/y

* GDP data compiled by production approach at 2010 constant prices




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