Mongolia: Economy | Asian Development Bank

Mongolia: Economy

The economy grew by 5.3% in the first half of 2017, recovering strongly from only 1.2% growth in 2016. Services lifted GDP by 4.3 percentage points, and agriculture by 1.0 point. Coal production soared, with coal exports increasing by more than fourfold. However, mining as a whole slumped as copper concentrate production languished, causing the larger industry sector to subtract marginally from growth. On the demand side, investment, mainly into mining, contributed 13.2 percentage points to growth, and consumption added 1.6 points. Net exports subtracted almost 9.6 points as imports rose by 37.4% in tandem with mining investment. Read more from Asian Development Outlook 2017 Update

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*2017 and 2018 are forecasts.

Economic forecasts for East Asian countries

The latest available economic data for Mongolia compared to countries in East Asia.

*2017 and 2018 are forecasts.

Asian Development Outlook 2017
Asian Development Outlook 2017 Update