The National Statistics Office of Mongolia (NSO) has provided its report on the Mongolian economy for the third quarter of 2019. Mongolia’s gross domestic product (GDP) reached MNT 13.7 trillion, which represents an increase of 6.3 percent in the first nine months of this year. The growth was mainly attributed to good performance in the industry and construction sector and the service sector, which increased 6 percent and 6.9 percent respectively.
Mongolia’s GDP expanded 7.3 percent year-on-year in the first half of 2019.
The country’s growth prospects continue to be positive for 2020, according to international banks and financial organisations. According to the latest Asian Development Outlook 2019, which is the flagship economic publication of the Asian Development Bank, economic growth in Mongolia should be 6.7 percent in 2019 and 6.1 percent in 2020.