AEIR 2018

Mongolia’s economic growth accelerated to 6.9% in 2018 from 5.3% in 2017. The economy benefitted from a 55.8% rise in credit and rising demand for transport services for mineral exports. Mining recovered to moderate growth on stronger gold and coal production. Agriculture recovered from the 2017 drought, adding 0.9 percentage points to growth. GDP is expected to grow by 6.7% in 2019 and 6.3% in 2020. Domestic demand, fueled by more accommodative fiscal policy, will support 2019 growth. Mining-related FDI may not increase as much as last year, lowering its contribution to growth. Yet the downward pressure from net exports may ease as growth in exports outpaces import growth.

Source: Asian Development Outlook 2018 Update, ADB.
Latest Month-Ago Year-Ago
Composite Stock Price Index 1 20.0 (May19)20.0 19.0
Headline Inflation Rate 2 7.3 (Jan19)8.2 6.7
Industrial/ Manufacturing Production Growth Rate 2 6.3 (Apr19)5.3 -2.4
Merchandise Export Growth 2 15.1 (Apr19)15.1 5.3
1 Monthly average, local index.
2 y-o-y, %.
Source: Bloomberg LP; CEIC database.

Initiatives / FTAs

News