AEIR 2018

Domestic demand propelled Mongolia’s economy, resulting in a strong 6.3% growth in the first half of 2018. Investment—mainly toward one mining project—contributed 12.6 percentage points, while consumption, driven by a surge in credit to households, contributed 3.9 percentage points. On the supply side, the services (3.7 percentage points), the industry (2.1 percentage points), and the agriculture (0.5 percentage points) sectors contributed to growth. Other facets of the economy weighed down growth, with net exports subtracting 10.3 percentage points.

Due to the unexpectedly strong performance of private consumption and coal exports, GDP growth forecasts for Mongolia are pegged at 6.4% for 2018 and 6.1% in 2019.

Source: Asian Development Outlook 2018 Update, ADB.
Latest Month-Ago Year-Ago
Composite Stock Price Index 1 20.0 (Nov18)20.0 22.0
Headline Inflation Rate 2 5.8 (Sep18)6.0 6.0
Industrial/ Manufacturing Production Growth Rate 2 17.0 (Oct18)0.7 9.8
Merchandise Export Growth 2 9.2 (Oct18)9.2 27.2
1 Monthly average, local index.
2 y-o-y, %.
Source: Bloomberg LP; CEIC database.

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