Trade balance of Mongolia shows losses of 471.1 million USD - News.MN

Trade balance of Mongolia shows losses of 471.1 million USD

Old News! Published on: 2015.03.10

Trade balance of Mongolia shows losses of 471.1 million USD

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As reported by Mongol Bank, Mongolia's trade balance in 2014 show losses of 471.1 million USD. 

In 2012, the trade balance of Mongolia showed revenue of 1.7 billion USD, and in 2013 it had losses of 1.8 billion MNT.

According to performance in 2014, the size of the trade balance decreased by 3.9 times.  

Comparing this performance with the preliminary information presented on January 30, 2014, losses of actual accounts decreased by 3.3 million USD, and profits of assets and financial accounts by 41.6 million USD. This was due to a decrease in foreign investment and losses of accounts and losses of service and trade. 

With decreased direct foreign investment the quantity of imported goods with high costs are also expected to decrease, which financial analysts say may be the main reason for trade balance losses.  

 

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