The Gross Domestic Product (GDP) in Mongolia expanded 6.30 percent in the second quarter of 2021 over the same quarter of the previous year. source: National Statistical Office of Mongolia

GDP Annual Growth Rate in Mongolia averaged 6.22 percent from 1991 until 2021, reaching an all time high of 20.60 percent in the third quarter of 2011 and a record low of -10.10 percent in the first quarter of 2020. This page provides - Mongolia GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Mongolia GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on October of 2021.

GDP Annual Growth Rate in Mongolia is expected to be 6.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Mongolia GDP Annual Growth Rate is projected to trend around 7.50 percent in 2022 and 6.00 percent in 2023, according to our econometric models.

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Mongolia GDP Annual Growth Rate

Calendar GMT Actual Previous Consensus TEForecast
2020-11-16 09:00 AM Q3 -7.3% -9.7% 3.5%
2021-02-18 09:00 AM Q4 -5.3% -7.3% -2.5%
2021-05-21 09:00 AM Q1 15.7% -5.3% -3.5%
2021-08-20 10:00 AM Q2 6.3% 14.8% 12%
2021-11-16 09:00 AM Q3 6.3%

Mongolia Last Unit Reference Previous Highest Lowest
GDP Growth Rate 6.10 percent Mar/18 5.10 17.50 -9.30
GDP Annual Growth Rate 6.30 percent Jun/21 14.80 20.60 -10.10
Gross Fixed Capital Formation 1402597.70 MNT Million Mar/21 1291506.60 2053778.90 328910.20
GDP From Utilities 117810.20 MNT Million Mar/21 109544.90 117810.20 39620.78
GDP From Transport 177991.90 MNT Million Mar/21 475702.50 574655.00 122199.13
GDP From Services 960722.80 MNT Million Mar/21 880220.50 1065468.10 503792.82
GDP From Mining 861972.10 MNT Million Mar/21 1299410.90 1299410.90 395477.20
GDP From Manufacturing 252631.70 MNT Million Mar/21 611966.70 611966.70 120048.10
GDP From Construction 44252.30 MNT Million Mar/21 315531.30 344884.60 5816.01
GDP From Agriculture 143189.70 MNT Million Mar/21 539653.40 1226528.80 45958.52
GDP Constant Prices 3830293.50 MNT Million Mar/21 5414950.20 5503642.20 1711157.40
Gross National Product 33912487.90 MNT Million Dec/20 32738370.90 33912487.90 12585.90

Mongolia GDP Annual Growth Rate
Mongolia's services sector is the biggest and accounts for 43 percent of GDP. Industry has been expanding heavily in the past few years, contributing the most to economic growth and accounting for 34 percent of total output. Finally, agriculture makes up for 13 percent of total GDP.