Industrial production in Mongolia increased 11.1 percent year-on-year in January 2019, slowing from a 21.5 percent rise in the previous month. Output sharply slowed for mining & quarrying (8.7 percent vs 24.1 percent), amid a decline in extraction of crude petroleum (-5.9 percent vs 71 percent) and for electricity, thermal energy & water supply (8.1 percent vs 10.7 percent). In contrast, production rose faster for manufacturing (22.6 percent vs 17.2 percent), mainly manufacture of wood and wooden products (147.2 percent vs 45.8 percent). On a monthly basis, industrial production went down 2.1 percent, after a 2.0 percent growth in the prior month. Industrial Production in Mongolia averaged 8.07 percent from 1982 until 2019, reaching an all time high of 33.40 percent in August of 2015 and a record low of -27.70 percent in December of 1990.
Industrial Production in Mongolia is expected to be 2.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production in Mongolia to stand at 3.50 in 12 months time. In the long-term, the Mongolia Industrial Production is projected to trend around 4.10 percent in 2020, according to our econometric models.