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

Note: GDP growth rate forecasts for 2017 and 2018.


Economic forecasts for South Asian countries

Country 2017f 2018f
China, People's Republic of 6.0 5.7
Hong Kong, China 1.0 1.4
Korea, Republic of 2.1 2.3
Mongolia 0.5 0.0
Taipei,China 1.9 2.0
Average 5.3 5.1
Country 2017f 2018f
China, People's Republic of 1.7 2.4
Hong Kong, China 1.7 1.8
Korea, Republic of 1.8 1.9
Mongolia 3.0 3.4
Taipei,China 1.1 1.2
Average 1.7 2.3
Country 2017f 2018f
China, People's Republic of 1.4 1.2
Hong Kong, China 2.9 2.9
Korea, Republic of 5.0 5.0
Mongolia –6.4 –8.5
Taipei,China 6.8 6.5
Average 2.0 1.8
Country 2015
China, People's Republic of 7,930
Hong Kong, China 41,000
Korea, Republic of 27,450
Mongolia 3,870
Taipei,China 22,452

f = forecast number.

Sources:
Asian Development Outlook 2017
Asian Development Outlook 2017 Update