Mongolia's gross domestic product rose by 6.4 percent in the first nine months of the year, compared with an upwardly revised 6.0 percent increase in the same period of 2017. It was the strongest expansion since the last quarter of 2014 when it jumped 7.9 percent. Services output was the main driver of growth (7.0 percent), followed by industry & construction (2.3 percent) and agriculture (1.7 percent). GDP Annual Growth Rate in Mongolia averaged 5.50 percent from 1991 until 2018, reaching an all time high of 17.50 percent in the fourth quarter of 2011 and a record low of -9.30 percent in the fourth quarter of 1992.
GDP Annual Growth Rate in Mongolia is expected to be 6.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Mongolia to stand at 6.10 in 12 months time. In the long-term, the Mongolia GDP Annual Growth Rate is projected to trend around 5.00 percent in 2020, according to our econometric models.