Mongolia’s economy expands 8.6 percent - News.MN

Mongolia’s economy expands 8.6 percent

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2019/09/20

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Mongolia’s economy expands 8.6 percent

Mongolia’s gross domestic product (GDP) grew by 7.3 percent year-on-year in the first half of 2019 according to reports of the National Statistical Office (NSO).

Mongolian GDP totaled 8.6 trillion Mongolian tugriks (3.2 billion U.S. dollars) in the January-June period, growth being mainly attributed to good performance in the industry, services and mining sectors, which recorded 9.3, 7.4 and 13 percent growth respectively.

Mongolia’s economy expanded 8.6 percent year-on-year in the first quarter of this year, which was the strongest GDP growth rate since the third quarter of 2014 when the figure stood at 9.1 percent.

The World Bank has predicted that Mongolia’s economy would grow by 7.2 percent in 2019 and 6.9 percent in 2020.

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