Mongolia recorded a Current Account deficit of 12.30 percent of the country's Gross Domestic Product in 2020. source: Mongolbank

Current Account to GDP in Mongolia averaged -6.99 percent of GDP from 1991 until 2020, reaching an all time high of 5.43 percent of GDP in 2006 and a record low of -27.40 percent of GDP in 2012. This page provides - Mongolia Current Account to GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news. Mongolia Current Account to GDP - values, historical data and charts - was last updated on October of 2021.

Current Account to GDP in Mongolia is expected to reach -13.00 percent of GDP by the end of 2021, according to Trading Economics global macro models and analysts expectations. In the long-term, the Mongolia Current Account to GDP is projected to trend around -10.00 percent of GDP in 2022 and -5.50 percent of GDP in 2023, according to our econometric models.

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Mongolia Current Account to GDP

Mongolia Last Unit Reference Previous Highest Lowest
Current Account -167.62 USD Million Aug/21 -356.94 316.77 -627.90
Current Account to GDP -12.30 percent of GDP Dec/20 -15.60 5.43 -27.40
Exports 806.30 USD Million Sep/21 885.20 960.50 15.40
Imports 652.60 USD Million Sep/21 635.80 748.80 14.70
External Debt 32487000.00 USD Thousand Mar/21 32161914.32 32487000.00 2110586.64

Mongolia Current Account to GDP
The Current account balance as a percent of GDP provides an indication on the level of international competitiveness of a country. Usually, countries recording a strong current account surplus have an economy heavily dependent on exports revenues, with high savings ratings but weak domestic demand. On the other hand, countries recording a current account deficit have strong imports, a low saving rates and high personal consumption rates as a percentage of disposable incomes.