MONGOLIA'S BANKS STAND STRONG

摘要

When the size of an economy is $12bn and population is about 3 million, economic shocks are likely to hit all areas of the market, including the banking sector. This is what is happening in Mongolia, an economy whose gross domestic product (GDP) growth has plunged from a high of 17.5% in 2011 to just 1.4% in June 2016, largely on the back of plummeting commodity prices and Chinese export demand nosediving in the past 18 months. China is the destination for the vast majority of Mongolia's exports.