In the first half of 2026, Mongolia’s balance of payments recorded a surplus of USD 566.6 million.

The current account posted a surplus of USD 179 million, marking a year-on-year improvement of USD 1.9 billion, primarily driven by a surplus in the trade of goods. Officials reported that the goods account surplus reached USD 4.5 billion, increasing by USD 3.8 billion compared to the same period last year. This growth was largely due to increased exports of copper concentrate and coal, with the combined export revenue from these two commodities surging by USD 3.7 billion. Conversely, a USD 428 million increase in the services account deficit and a USD 1.4 billion increase in the primary income account deficit negatively impacted the overall current account.

The financial account saw a net inflow of USD 613 million, decreasing by USD 644 million year-on-year. This decline was mainly attributed to Oyu Tolgoi LLC repaying USD 2 billion of its external debt, a move that subsequently had a positive impact on reducing Mongolia's overall external debt.

Additionally, official foreign exchange reserves rose from USD 7.0 billion at the end of 2025 to USD 7.7 billion by the end of June 2026, reaching a level sufficient to cover 4.8 months of imports. The substantial growth in exports and the sharp increase in the goods trade surplus served as the primary factors in strengthening Mongolia's external payment position.

Published Date:2026-08-30