Mongolia Economy Statistics

Editor L.Byambadorj

2016-03-29 18:33 GMT+9

Mongolia Economic Forum 2016 starts tomorrow on March 30, 31 at State Palace. GoGo Mongolia will bring you live coverage from State Palace for the full duration of this event.

Today we take a look at some key economic statistics.

1. Credit Rating


Standard & Poor's credit rating for Mongolia stands at B+. Moody's rating for Mongolia sovereign debt is B2. Fitch's credit rating for Mongolia is B+. In general, a credit rating is used by sovereign wealth funds, pension funds and other investors to gauge the credit worthiness of Mongolia thus having a big impact on the country's borrowing costs.

2. GDP Growth Rate

/Data provided by Word Bank and Mongol Bank/

GDP / sectors/  Last Previous Highest Lowest Unit
Gdp From Agriculture 392013.80 621594.10 940123.20 45958.52 MNT Million
Gdp From Construction 201047.20 189466.30 310564.10 5816.01 MNT Million
Gdp From Manufacturing 271628.80 250093.20 278325.20 120048.10 MNT Million
Gdp From Mining 1253235.40 1134574.50 1253235.40 395477.20 MNT Million
Gdp From Services 695392.70 880532.80 880532.80 503792.82 MNT Million
Gdp From Transport 375329.70 223256.90 375329.70 122199.13 MNT Million
Gdp From Utilities 88038.90 48838.90 88038.90 39620.78 MNT Million


3. Markets /Currency/
/Actual - as of March 2016; Unit against US Dollar/

/Forecast - Unit against US Dollar/

Forecast Actual Q1/16 Q2/16 Q3/16 Q4/16 2020
Currency 2049 2014 2054 2074 2094 1595


4. Labour


/Actual - as of March 2016 ; Unit - Million/
/Forecast/

Forecast Actual Q1/16 Q2/16 Q3/16 Q4/16 2020 Unit
Population 3.06 3.09 3.1 3.12 3.14 3.38 Million


/Actual - as of Jan 2016/
/Forecast/

Forecast Actual Q1/16 Q2/16 Q3/16 Q4/16 2020 Unit
Unemployment Rate 8.3 7.8 8 6.5 8.21 7.97 percent


In Mongolia, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force. 

5. Inflation
/Actual/

/Forecast/

Forecast Actual Q1/16 Q2/16 Q3/16 Q4/16 2020 Unit
Inflation Rate 2 2.3 3.5 4.1 4.8 4 percent

 

6. Interest Rate
/Actual/

In Mongolia, interest rates decisions are taken by the Bank of Mongolia (Mongolbank). 
/Forecast was last predicted on March 29, 2016/

Forecast Actual Q1/16 Q2/16 Q3/16 Q4/16 2020 Unit
Interest Rate 12 12 13 13 13 8 percent

 

7. Balance of Trade
/Actual ; Units - USD Million/
/Forecast was last updated March 29, 2016/

Forecast Actual Q1/16 Q2/16 Q3/16 Q4/16 2020 Unit
Balance of Trade 131 102 105 102 102 102 USD Million

 

8. Competitveness Index & Rank
/Actual was last updated March 29, 2016//
/Forecast was last predicted on March 29, 2016; Used autoregressive integrated moving average (ARIMA) model/

Mongolia scored 3.81 points out of 7 on the 2015-2016 Global Competitiveness Report published by the World Economic Forum. Competitiveness Index in Mongolia averaged 3.72 Points from 2007 until 2016, reaching an all time high of 3.87 Points in 2013 and a record low of 3.43 Points in 2010

/Actual was last updated March 29, 2016//

/Forecast was last predicted on March 29, 2016/

Mongolia is the 104 most competitive nation in the world out of 144 countries ranked in the 2015-2016 edition of the Global Competitiveness Report published by the World Economic Forum. Competitiveness Rank in Mongolia averaged 100.40 from 2007 until 2016, reaching an all time high of 117 in 2010 and a record low of 89 in 2007

9. Government Debt to GDP & Government Budget

/Actual/ 

Mongolia recorded a Government Debt to GDP of 51.70 percent of the country's Gross Domestic Product in 2011. Government Debt to GDP in Mongolia averaged 61.26 percent from 1992 until 2011, reaching an all time high of 105.50 percent in 2003 and a record low of 24.50 percent in 1992.
/Actual/

Mongolia recorded a Government Budget deficit equal to 2 percent of the country's Gross Domestic Product in 2013. Government Budget in Mongolia averaged -4.26 percent of GDP from 1990 until 2013, reaching an all time high of 3.10 percent of GDP in 2006 and a record low of -14.30 percent of GDP in 1998.

Most of the data you see above is was up-to-date provide by World Bank, Mongol Bank (Bank of Mongolia) and National Statistics Office of Mongolia.

Source: tradingeconomics

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