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Balance of payments totals 811.9 million USD in 2017 www.gogo.mn
Mongolia's balance of payments (BoP) totaled 811.9 million USD in 2017, after experiencing a deficit for the past four years.
In 2016, the BoP deficit was 18.2 million USD. The nation's financial account balance had a 2.4 billion surplus, but the capital account balance had a 907.1 million USD deficit in 2017.
As stated in the Bank of Mongolia's Financial Stability Report, the current account deficit was financed with foreign loans and foreign currency reserves from 2013 to 2016, but it was financed with foreign direct investment in 2017.
As of the third quarter of 2017, foreign direct investment totaled 702 million USD, the majority of which came from Canada (285 million USD). Luxembourg invested 155 million USD in 2017, a record investment compared to previous years.
Seventy-nine percent of 2017's investment was made in mining.
Published Date:2018-01-31
