Category: Mongolia

Mongolia Country Update: What a Difference a Year Makes

This time last year the economy was suffering badly because of the China Covid-Zero policy which greatly restricted exports of coal and copper. The country’s financial position was nearing critical, and investors feared default.

Country Snapshot: Mongolia

Will resource nationalism return and disrupt?
Growth declined in 2019. Despite the surge in coal exports to China last year, GDP growth dropped to 5.1% for the year, from 6.9% in 2018 and 8.6% in 1Q19. Delays with the Oyu Tolgoi expansion and problems in other sectors, such as agriculture, balanced out the coal growth.

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