Economic Growth in Mongolia
The Mongolian economy recorded an average growth rate of 4.2% in the decade to 2022, below the 4.4% average for the Asia-Pacific region. In 2022, real GDP growth was 5.0%. For more GDP information, visit our dedicated page.
Mongolia GDP Chart
Note: This chart displays Economic Growth (GDP, annual variation in %) for Mongolia from 2014 to 2023.
Source: Macrobond.
Mongolia GDP Data
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Economic Growth (GDP, ann. var. %) | 5.6 | -4.6 | 1.6 | 5.0 | 7.4 |
| GDP (USD bn) | 14.3 | 13.3 | 15.3 | 17.1 | 20.3 |
| GDP (MNT tn) | 37.8 | 37.5 | 43.6 | 53.9 | 70.4 |
| Economic Growth (Nominal GDP, ann. var. %) | 16.1 | -1.0 | 16.3 | 23.6 | 30.8 |
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Mongol GDP projections for the next ten years from a panel of 10 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable GDP forecast available for Mongol GDP.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Mongol GDP projections.
Want to get access to the full dataset of Mongol GDP forecasts? Send an email to info@focus-economics.com.