On Monday, May. 17 official figures issued by Mongolia’s National Statistics Office (NSO) demonstrated that the country’s gross domestic product (GDP) expanded 22.5 percent annually in the January-March period of this year.

The NSO stated that the GDP reached MNT 9.2 trillion (around USD3.22 billion) in the first three months of 2021.

The statistical agency noted that the major rise was mostly because of proceeds from the mining industry, which expanded by 34.1 percent.

The country is rich in natural resources, and the mining industry has been one of the key drivers of Mongolia’s economic expansion for many years.