Ulaanbaatar
Balance of payment deficit rises
Economy
Ulaanbaatar /MONTSAME/ Current and capital account balance resulted in deficit of USD 157.0 million in the first quarter of 2017 and increased by USD 6.1 million compared to the same period of last year. Current account saw deficit of USD 171.3 million, which was mainly due to deficit amounted to USD 372.0 million in services account and USD 256.4 million in primary account. Nevertheless, goods account surplus reached USD 418.4 million.
In the first quarter of 2017, capital account had surplus of USD14.3 million, which is almost at the same level as the previous year’s. Financial account had surplus of USD 105.9 million, representing decrease of USD 177.8 million compared to the same period of 2016. This is explained by the USD 76.5 million decline in direct foreign investment. Overall balance of payment deficit was USD 163.7 million, increasing by USD125.9 million against the same period of 2016.
In the first quarter of 2017, capital account had surplus of USD14.3 million, which is almost at the same level as the previous year’s. Financial account had surplus of USD 105.9 million, representing decrease of USD 177.8 million compared to the same period of 2016. This is explained by the USD 76.5 million decline in direct foreign investment. Overall balance of payment deficit was USD 163.7 million, increasing by USD125.9 million against the same period of 2016.
Source: National Statistics Office; Bank of Mongolia
