Asia Regional Integration Center
Tracking Asian Integration
After 3 years of robust growth, Mongolia’s economy contracted by 5.3% in 2020 due to the effects of a retrenchment in mining and COVID-19 pandemic-related restrictions. It was the first drop in 11 years and the steepest since 1992. While agriculture grew by 6.2%, industry and services together contracted 7.7%. On the demand side, growth in net exports and in private and public consumption failed to cushion the effects of a 28.8% decline in net foreign direct investment. With favorable terms of trade, as well as high export demand for minerals, GDP is forecast to grow by 4.8% in 2021 and by 5.7% in 2022 as business sentiment improves and the pandemic eases.
Source: Asian Development Outlook 2021.
Latest | Month-Ago | Year-Ago | |
---|---|---|---|
Composite Stock Price Index 1 | 37.0 (Apr22) | 38.0 | 35.0 |
Broad Money Growth 2 | 6.6 (Feb22) | 6.6 | 10.6 |
Headline Inflation Rate 3 | 14.4 (Mar22) | 14.2 | 2.5 |
Industrial/ Manufacturing Production Growth Rate 3 | -5.2 (Jun20) | -25.3 | -7.8 |
Merchandise Export Growth 3 | 14.4 (Mar22) | 14.4 | -7.8 |
Exchange Rate Index 4 | 247.9 (Apr22) | 236.5 | 232.2 |
1 Monthly average, local index. 2 %. 3 y-o-y, %. 4 Monthly average, January 2006 = 100, $/local currency. | |||
Source: Bloomberg LP; CEIC database. |
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