"Economic growth in Mongolia has been robust but uneven, with the mining sector driving the economy while the non-mining sector lags. Growth reached 6.2 percent in the first half of 2023 (up from 5.0 percent in 2022), with more recent higher frequency data suggesting that this momentum has been kept in the third quarter. The acceleration in growth has been uneven, mainly driven by robust growth of the mining sector, which strongly rebounded from its contraction in 2022. Non-mining sector growth, however, was timid in H1 of 2023 reflecting to some extent a slowdown from its strong post-pandemic growth and a contraction in agricultural production."
This publication was prepared by World Bank in English. Click here to access its full version. The report summary is available in Mongolian here.
Source: World Bank
Illustration: World Bank