The Gross Domestic Product (GDP) in Mongolia contracted 9.70 percent in the second quarter of 2020 over the same quarter of the previous year.

GDP Annual Growth Rate in Mongolia averaged 5.05 percent from 1991 until 2020, reaching an all time high of 17.50 percent in the fourth quarter of 2011 and a record low of -10.70 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 2020.

GDP Annual Growth Rate in Mongolia is expected to be 3.50 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 6.50 in 12 months time. In the long-term, the Mongolia GDP Annual Growth Rate is projected to trend around 5.10 percent in 2021 and 5.00 percent in 2022, according to our econometric models.

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Mongolia GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-9.70 -10.70 17.50 -10.70 1991 - 2020 percent Quarterly


Calendar GMT Actual Previous Consensus TEForecast
2019-11-15 11:00 AM Q3 6.3% 7.3% 6.5%
2020-02-17 09:00 AM Q4 5.1% 6.3% 6.5%
2020-05-22 09:00 AM Q1 -10.7% 5.1% 5.0%
2020-08-20 09:00 AM Q2 -9.7% -10.7% -1.1%
2020-11-16 09:00 AM Q3 -9.7% 3.5%
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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.