The IMF has cut its growth forecasts for the Mongolian economy in 2013 and beyond due to continued weakness in the global economy, particularly in China. GDP growth in Mongolia is now expected to be 11.8% in 2013, down from a previous forecast of 14%, and growth rates are expected to slow further to 5.8% in 2015 and 3.6% in 2016. Of concern is the rebalancing underway in China towards domestic consumption, which could reduce demand for Mongolia's commodity exports. The World Economic Outlook database shows Mongolia's export growth forecasts have been significantly revised downward.