Industrial production in Mongolia increased 14.7 percent year-on-year in February of 2019, slowing from a 11.1 percent rise in the previous month. Output advanced faster for mining & quarrying (12.5 percent vs 8.7 percent in January) and manufacturing (30.1 percent vs 22.6 percent) but fell for electricity, thermal energy & water supply (-0.5 percent vs 8.1 percent). Also, extraction of crude petroleum declined more (-6.7 percent vs -5.9 percent). On a seasonally adjusted monthly basis, industrial output went up 4.8 percent, after a 2.1 percent drop in the prior month. Industrial Production in Mongolia averaged 8.15 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.