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Mongolia Quarterly Economic Update, August 2011
World Bank Open Knowledge Repository (formerly "World Bank E-Library Publications") Available online
View online- Format:
- Book
- Government document
- Author/Creator:
- World Bank.
- Series:
- Economic Updates and Modeling
- World Bank e-Library.
- Language:
- English
- Subjects (All):
- Accounting.
- Agriculture.
- Banking Sector.
- Bonds.
- Capital Expenditures.
- Cash Transfers.
- Commercial Banks.
- Commodity Prices.
- Consumers.
- Cost of Living.
- Currencies and Exchange Rates.
- Debt.
- Debt Markets.
- Depreciation.
- Dutch Disease.
- Economic Growth.
- Expenditures.
- Exporters.
- Finance and Financial Sector Development.
- Fiscal & Monetary Policy.
- Foreign Direct Investment.
- Gdp.
- Global Economy.
- Good Governance.
- Gross Domestic Product.
- Income Distribution.
- Income Tax.
- Inflation.
- Interest Rates.
- Labor Markets.
- Macroeconomics and Economic Growth.
- Market Forces.
- Monetary Policy.
- Per Capita Income.
- Profitability.
- Purchasing Power.
- Recession.
- Remittances.
- Savings.
- Social Protections and Labor.
- Sovereign Debt.
- Surplus.
- Telecommunications.
- Transport.
- Uncertainty.
- Unemployment.
- Wages.
- Local Subjects:
- Accounting.
- Agriculture.
- Banking Sector.
- Bonds.
- Capital Expenditures.
- Cash Transfers.
- Commercial Banks.
- Commodity Prices.
- Consumers.
- Cost of Living.
- Currencies and Exchange Rates.
- Debt.
- Debt Markets.
- Depreciation.
- Dutch Disease.
- Economic Growth.
- Expenditures.
- Exporters.
- Finance and Financial Sector Development.
- Fiscal & Monetary Policy.
- Foreign Direct Investment.
- Gdp.
- Global Economy.
- Good Governance.
- Gross Domestic Product.
- Income Distribution.
- Income Tax.
- Inflation.
- Interest Rates.
- Labor Markets.
- Macroeconomics and Economic Growth.
- Market Forces.
- Monetary Policy.
- Per Capita Income.
- Profitability.
- Purchasing Power.
- Recession.
- Remittances.
- Savings.
- Social Protections and Labor.
- Sovereign Debt.
- Surplus.
- Telecommunications.
- Transport.
- Uncertainty.
- Unemployment.
- Wages.
- Place of Publication:
- Washington, D.C. : The World Bank, 2011.
- System Details:
- data file
- 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.
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