Mongolia Three Month Interbank Rate was quoted at 13.63 percent on Wednesday May 23.

Standard & Poor's credit rating for Mongolia stands at B- with stable outlook. Moody's credit rating for Mongolia was last set at B3 with stable outlook. Fitch's credit rating for Mongolia was last reported at B- with positive outlook.

The Gross Domestic Product (GDP) in Mongolia expanded 6.10 percent in the first quarter of 2018 over the previous quarter.

Producer Prices in Mongolia decreased to 244.50 Index Points in April from 247.50 Index Points in March of 2018.

Producer Prices in Mongolia increased 19.10 percent in April of 2018 over the same month in the previous year.

Mongolia’s annual inflation rate dropped to 6 percent year-on-year in April of 2018 from 6.6 percent in March. It was the lowest inflation rate since September last year, as prices slowed for clothing & footwear (3 percent from 3.8 percent in March); housing & utilities (13 percent from 13.3 percent) and transport (6.1 percent from 9.1 percent). Also, cost rose at a softer pace for recreation & culture (2.6 percent from 3.9 percent); miscellaneous goods & services (6.7 percent from 7.5 percent); health (9.6 percent from 10.3 percent) and restaurants & hotels (5.5 percent from 6.1 percent) and prices of communication fell faster (-1.2 percent from -1.1 percent). In contrast, cost advanced further for food & non-alcoholic beverages (6.1 percent from 5.9 percent); furnishings & household equipment (6.2 percent from 5.9 percent) and alcoholic beverages & tobacco (8.5 percent from 7.5 percent). On a monthly basis, consumer prices increased 0.6 percent, easing from a 0.9 percent in March.

Mongolia's trade surplus narrowed to USD 191.5 million in April of 2018 from USD 258.2 million in the same month of the previous year, as imports jumped 32.2 percent to USD 451.5 million while exports grew at a softer 7.2 percent year-on-year to USD 642.9 million. Considering the first four months of 2018, the trade surplus decreased 30.5 percent year-on-year to USD 543.4 million from USD 781.9 million in the previous year. Imports soared 41.5 percent year-on-year to USD 1581.9 million, boosted by mineral products (33.3%); machinery & equipment, electrical appliances (50.1%); vehicles & parts (53.6%) and base metals & articles thereof (80.5%). Meantime, sales rose 11.9 percent to USD 2125.4 million, mostly driven by mineral products (10.2%) and natural & cultured stones & precious metals jewelry (90.4%).

Industrial production in Mongolia increased 1.4 percent year-on-year in April of 2018, easing from a downwardly revised 14.5 percent gain in March. Manufacturing slowed (11.6 percent vs 26.7 percent), mostly due to a decline in production of dairy products (-14.8 percent vs 83 percent); textiles (-21 percent vs 17.7 percent) and coke, refined petroleum & nuclear fuels (-42.4 percent vs 56.1 percent). Also, output fell further for food & beverages (-38.6 percent vs -14.2 percent); tobacco (-78.9 percent vs -33.3 percent) and transport equipment (-47.7 percent vs -24.8 percent). In addition, a decline was seen in mining & quarrying (-1.8 percent vs 12.4 percent in March), mainly due to extraction of coal (-16.9 percent vs 16.6 percent). On the other hand, electricity, thermal energy & water supply activities increased (11 percent vs 8.8 percent). On a monthly basis, industrial production went down 6.3 percent, after a downwardly revised 7.3 percent increase in March.

The Mongolian economy expanded 6.1 percent year-on-year in the first quarter of 2018, well above 4.2 percent a year earlier. It is the highest growth rate for the first three months of the year since 2014. Industry and construction rebounded (5.3 percent compared to -2.4 percent a year earlier); services went up 4.9 percent (6.1 percent a year earlier) and agriculture edged up a meager 0.3 percent (4.2 percent a year earlier). On a seasonally adjusted basis, the economy grew 1.6 percent over the previous quarter.

Cost of food in Mongolia increased 6.10 percent in April of 2018 over the same month in the previous year.