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FDI drops 36 percent in January

By B.KHASH-ERDENE

The Central Bank of Mongolia issued a preliminary report on balance payments for January 2014 earlier this week.
According to the bank, their current account deficit stands at 75.5 million USD, which is a decrease of 79 percent or 284.8 million USD on a year on year basis. The results were impacted by the following: trade of goods deficit decreased by 119 percent, to 29 million USD; trade of services deficit declined by 57 percent, to 65.5 million USD; deficit of income account dropped by 11 percent to 49.5 million USD; and current transfer increased by 99 percent to 10.6 million USD.
The Central Bank said that capital and financial accounts showed a surplus of 290 million USD, which is a decrease of 20 percent or 48.6 million USD on a year on year basis. This was due to a 36 percent decline in foreign direct investment to Mongolia, equaling 101.3 million USD; other investments showed a decrease of 65 percent or 32.1 million USD, and portfolio investment increased by 114.1 million USD compared to the previous year.

Short URL: http://ubpost.mongolnews.mn/?p=8133

Posted by on Feb 27 2014. Filed under Business & Economics. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

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