Mongolia's GDP grows by 6.9 percent in third quarter of this year

Densmaa 2023-11-20 04:11

Economy

Mongolia's GDP grew by 6.9 percent in the third quarter of 2023 compared to last year, the country's National Statistical Office reported.

Mongolia's GDP grew by 6.9 percent in the third quarter of 2023 compared to last year, the country's National Statistical Office reported. The increase in GDP was facilitated by the growth of value added in the services sector and the post-Covid recovery of the transport sector. Experts from international banking and financial organizations expect that the Mongolian economy will continue to grow in near future. Mongolia's economy will grow 5.7 percent this year and 5.9 percent next year, according to a September forecast by the Asian Development Bank or ADB. Additionally, the country's GDP grew by 4.8 percent last year, according to Mongolia's National Statistical Office.