Mongolia GDP Growth Rate

The Gross Domestic Product (GDP) in Mongolia expanded 11.50 percent in the third quarter of 2013 over the same period a year earlier. GDP Growth Rate in Mongolia is reported by the National Statistical Office of Mongolia. From 1991 until 2013, Mongolia GDP Growth Rate averaged 5.6 Percent reaching an all time high of 17.5 Percent in December of 2011 and a record low of -9.3 Percent in December of 1992. Mongolia is a transition economy in Central Asia. Despite economic reforms and strong GDP growth in the last few years, 30% of the population still lives below the poverty line. Mongolia's economy is centered on mining and livestock agriculture. The nation is rich in mineral resources with copper, coal, molybdenum, tin, tungsten, and gold being the most important. Mongolia is the world's biggest producer of cashmere. This page provides - Mongolia GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-23

Actual Previous Highest Lowest Forecast Dates Unit Frequency
11.50 11.30 17.50 -9.30 12.68 | 2014/06 1991 - 2013 Percent Quarterly

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Mongolia GDP Growth Rate
LIST BY COUNTRY

GDP Last Previous Highest Lowest Forecast Unit
GDP per capita 1629.60 2012-12-31 1473.60 1629.60 655.07 1878.73 2014-06-30 USD [+]
GDP per capita PPP 4707.70 2012-12-31 4257.05 4707.70 1892.43 5427.40 2014-06-30 USD [+]
GDP 10.27 2012-12-31 8.76 10.27 0.70 13.25 2014-06-30 USD Billion [+]
GDP Growth Rate 11.50 2013-09-30 11.30 17.50 -9.30 12.68 2014-06-30 Percent [+]
GDP Annual Growth Rate 11.70 2013-12-31 11.50 17.50 -9.30 12.66 2014-06-30 Percent [+]
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GDP Growth Rate | Notes
The GDP Growth Rate shows a percentage change in the seasonally adjusted GDP value in the certain quarter, compared to the previous quarter. Because of climatic conditions and holidays, the intensity of the production varies throughout the year. This makes a direct comparison of two consecutive quarters difficult. In order to adjust for these conditions, many countries calculate the quarterly GDP using so called seasonally adjusted method. The Gross Domestic Product can be determined using three different approaches: the product, the income, and the expenditure technique, which should give the same result. In sum, the product technique sums the outputs of every class of enterprise. The expenditure technique works on the principle that every product must be bought by somebody, therefore the value of the total product must be equal to people's total expenditures in buying products and services. The income technique works on the principle that the incomes of the productive factors must be equal to the value of their product, and determines GDP by finding the sum of all producers' incomes.


RELATED NEWS

Mongolia Unemployment Rate at 7.60 Percent  
Unemployment Rate in Mongolia increased to 7.60 percent in the third quarter of 2013 from 7.30 percent in the second quarter of 2013. Unemployment Rate in Mongolia is reported by the National Statistical Office of Mongolia.
Mongolia Current Account to GDP at -27.89 Percent  
Mongolia recorded a Current Account deficit of 27.89 percent of the country's Gross Domestic Product in 2013. Current Account to GDP in Mongolia is reported by the Mongolbank.
Mongolia Balance of Trade at -21.13 USD Million  
Mongolia recorded a trade deficit of 21.13 USD Million in January of 2014. Balance of Trade in Mongolia is reported by the Mongolbank.
Mongolia Exports at 219.18 USD Million  
Exports in Mongolia decreased to 219.18 USD Million in January of 2014 from 405.60 USD Million in December of 2013. Exports in Mongolia is reported by the Mongolbank.
Mongolia Imports at 240.30 USD Million  
Imports in Mongolia decreased to 240.30 USD Million in January of 2014 from 438.80 USD Million in December of 2013. Imports in Mongolia is reported by the Mongolbank.
Mongolia GDP Annual Growth Rate at 11.70 Percent  
The Gross Domestic Product (GDP) in Mongolia expanded 11.70 percent in the fourth quarter of 2013 over the same quarter of the previous year. GDP Annual Growth Rate in Mongolia is reported by the National Statistical Office of Mongolia.
Mongolia Current Account at -71.00 USD Million  
Mongolia recorded a Current Account deficit of 71 USD Million in January of 2014. Current Account in Mongolia is reported by the Mongolbank.
Mongolia Inflation Rate at 12.40 Percent  
The inflation rate in Mongolia was recorded at 12.40 percent in March of 2014. Inflation Rate in Mongolia is reported by the Mongolbank.
Mongolia Interest Rate at 10.50 Percent  
The benchmark interest rate in Mongolia was last recorded at 10.50 percent. Interest Rate in Mongolia is reported by the Mongolbank.
Mongolia Personal Income Tax Rate at 10.00 percent  
The Personal Income Tax Rate in Mongolia stands at 10 percent. Personal Income Tax Rate in Mongolia is reported by the General Department of National Taxation.
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