The economy of Mongolia expanded by 7% year-on-year in the fourth quarter of 2023, from a 6.9% growth in the previous three-month period, mainly boosted by the manufacturing (5.1% vs 3.9% in Q3) and information & communication (16.4% vs 16.3%) sectors. On the other hand, output slowed for transportation & storage (39.3% vs 58.2%), mining & quarrying (23.4% vs 33.2%), construction (0.6% vs 2.1%), and wholesale & retail trade (5.7% vs 6.14%), while production declined in agriculture, forestry, fishing & hunting (-8.9% vs -9.5%). source: National Statistical Office of Mongolia
The Gross Domestic Product (GDP) in Mongolia expanded 7 percent in the fourth quarter of 2023 over the same quarter of the previous year. GDP Annual Growth Rate in Mongolia averaged 6.01 percent from 1991 until 2023, reaching an all time high of 20.60 percent in the third quarter of 2011 and a record low of -10.10 percent in the first quarter of 2020. This page provides - Mongolia GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Mongolia GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on March of 2024.
The Gross Domestic Product (GDP) in Mongolia expanded 7 percent in the fourth quarter of 2023 over the same quarter of the previous year. GDP Annual Growth Rate in Mongolia is expected to be 6.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Mongolia GDP Annual Growth Rate is projected to trend around 6.00 percent in 2025, according to our econometric models.