Mongolia GDP Expands in Q4

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%).