Mongolia Quarterly Economic Update, August 2011

The Mongolian economy is experiencing rapid growth in 2011 the second quarter saw the economy growing at a whopping 17.3 percent year on year, compared to 9.9 percent in the first quarter. Transportation and construction grew at 39.9 percent and 38...

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Bibliographic Details
Main Author:	World Bank
Format:	Report
Language:	English en_US
Published:	Washington, DC 2017
Subjects:	ACCOUNTING AGRICULTURE ANNUAL GROWTH ARREARS BALANCE OF PAYMENTS BALANCE SHEET BANK ACTIVITIES BANK LENDING BANK LOAN BANK RATE BANKING SECTOR BANKING SYSTEM BASE PRICES BENCHMARK BID BOND BONDS BUFFER BUFFERS CAPITAL ACCOUNT CAPITAL EXPENDITURES CASH PAYMENTS CASH TRANSFERS CENTRAL BANK CENTRAL BANK BILL CENTRAL BANK BILLS COMMERCIAL BANK COMMERCIAL BANKS COMMODITY COMMODITY PRICES CONSUMER PRICE INDEX CONSUMER PRICE INFLATION CONSUMERS CORE INFLATION COST OF LIVING CREDIT LINES CURRENCY APPRECIATION CURRENT ACCOUNT CURRENT ACCOUNT BALANCE CURRENT ACCOUNT DEFICIT CURRENT EXPENDITURES CUSTOMS DUTIES DEBT DEBT DEFAULTS DEBT RATING DEPOSITS DEPRECIATION DISTORTIONS DIVIDEND DIVIDENDS DOLLAR VALUE DOMESTIC BONDS DOMESTIC CREDIT DOMESTIC MARKETS DOMESTIC PRICES DUTCH DISEASE ECONOMIC BOOM ECONOMIC GROWTH ECONOMIC OUTLOOK ECONOMIC RESEARCH EQUIPMENT EURO ZONE EXCHANGE RATE EXPENDITURE EXPENDITURES EXPORT COMMODITIES EXPORT GROWTH EXPORT SECTOR EXPORTERS EXPORTS EXTERNAL DEBT EXTERNAL TRADE FINANCIAL MARKETS FISCAL BALANCE FISCAL BALANCES FISCAL LEGISLATION FISCAL POLICIES FOOD PRICES FOREIGN BONDS FOREIGN CURRENCY FOREIGN CURRENCY DEPOSITS FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN EXCHANGE RESERVES FOREIGN TRADE GDP GDP PER CAPITA GLOBAL ECONOMY GLOBAL STANDARDS GOLD GOOD GOVERNANCE GOVERNMENT EXPENDITURES GOVERNMENT INTERVENTION GOVERNMENT POLICIES GOVERNMENT SPENDING GROSS DOMESTIC PRODUCT GROWTH RATES HOLDING HUMAN DEVELOPMENT IMPORT IMPORTS INCOME INCOME DISTRIBUTION INCOME TAX INCOMES INFLATION INFRASTRUCTURE DEVELOPMENTS INSTRUMENT INTEREST RATE INTEREST RATES INTERNATIONAL COMPETITION INTERNATIONAL RESERVES INTERNATIONAL STANDARDS ISSUANCE LABOR FORCE LABOR MARKETS LIQUIDITY LIQUIDITY PROBLEMS LOAN CLASSIFICATION LOAN STOCK LOCAL CURRENCY LOOSE MONETARY POLICY MARKET FORCES MINERAL PRICE MINERAL PRICES MONETARY POLICY NATURAL RESOURCE NOMINAL INTEREST RATES NON-PERFORMING LOAN NON-PERFORMING LOANS NPL OIL EXPORTERS OIL EXPORTS OIL PRICES OIL REVENUES OPEN ECONOMY OUTPUT OUTSTANDING LOANS OUTTURN OUTTURNS PARALLEL MARKET PARALLEL MARKET RATE PER CAPITA INCOME PORTFOLIO PORTFOLIO INFLOWS POVERTY REDUCTION PREPAYMENTS PRICE CEILINGS PRICE INCREASE PRODUCTS EXPORTS PROFITABILITY PUBLIC EXPENDITURES PUBLIC GOOD PUBLIC SECTOR DEBT PUBLIC SERVICES PUBLIC TRANSPORT PURCHASING POWER RAPID ECONOMIC GROWTH RAPID GROWTH RATE OF GROWTH REAL CONSUMPTION REAL EFFECTIVE EXCHANGE RATE REAL GDP REAL INTEREST REAL INTEREST RATE REAL INTEREST RATES REAL SECTOR RECESSION REMITTANCES RESERVE RESERVES SAVINGS SHORT-TERM INTEREST RATE SOCIAL DEVELOPMENTS SOVEREIGN DEBT STOCK MARKET STOCK MARKET INDEX SURPLUS TAX TAX INCREASES TELECOMMUNICATIONS TIME DEPOSITS TOTAL EXPORT TOTAL EXPORTS TOTAL REVENUE TRADE BALANCE TRADE DATA TRADE DEFICIT TRANSPORT TRUST FUND UNCERTAINTY UNEMPLOYMENT UNEMPLOYMENT RATE WAGES WEALTH
Online Access:	http://documents.worldbank.org/curated/en/423541468277491080/Mongolia-quarterly-economic-update-August-2011 http://hdl.handle.net/10986/27086

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Summary:	The Mongolian economy is experiencing rapid growth in 2011 the second quarter saw the economy growing at a whopping 17.3 percent year on year, compared to 9.9 percent in the first quarter. Transportation and construction grew at 39.9 percent and 38.4 percent, respectively, while retail and wholesale trade grew at 24.7 percent, with Mongolians spending more on consumption as a result of higher incomes. The mining and manufacturing sectors recorded respectable growth rates of 8.3 and 12.9 percent yoy in the second quarter, respectively. Reflecting the higher growth, unemployment declined from 13 percent in December 2010 to 8.7 percent in June. Informal labor markets for unskilled workers are also booming, with real wages nearly doubling between December 2010 and June 2011. Mongolia's economic outlook depends heavily on global macroeconomic factors: the current uncertainty and poor growth prospects for the global economy are cause for concern. If there is another global recession, Mongolia's small, open economy will be affected. In that case, China's policy reaction will be crucial for Mongolia.

Mongolia Quarterly Economic Update, August 2011

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