Mongolia GDP Grows 4.9%

The economy of Mongolia expanded by 4.9% year-on-year in the fourth quarter of 2024, compared to the 5% growth recorded in the previous three-month period.

Activity slowed for mining & quarrying (10.8% vs 11.4% in Q3), wholesale and retail trade; repair of motor vehicles and motorcycles (6.6% vs 7.9%), and services (7.8% vs 8.6%).

At the same time, production declined for agriculture, forestry, fishing & hunting (-28.7% vs -25%) as well as manufacturing (-1.2% vs 0.1%).

Meanwhile, output growth accelerated for construction (10.4% vs 7.8%), transportation & storage (23.1% vs 15.7%), and information & communication (15.5% vs 14.4%).