Mongolia GDP Expands 6.9% in Q3

The economy of Mongolia expanded by 6.9% year-on-year in the third quarter of 2023, from a 6.4% growth in the previous three-month period, driven by a solid performance in information & communication (16.3% vs 11.4% in Q2).

Positive contributions also came from manufacturing (3.9% vs 1.6%) and construction (2.1% vs 1.6%).

On the other hand, output slowed for transportation & storage (58.2% vs 74%), mining & quarrying (33.2% vs 45.2%) and wholesale & retail trade (6.1% vs 6.6%), while production declined in agriculture, forestry, fishing & hunting (-9.5% vs -9.9%).