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GDP of Mongolia increases by 7.9% in first quarter of 2023 www.akipress.com
The gross domestic product (GDP) of Mongolia increased by 7.9% year on year in the first quarter of 2023, the National Bureau of Statistics said.
This occurred mainly due to a significant increase in exports of mining products.
The Mongolian economy grew by 4.8% in 2022 and by 1.4% in 2021.
International banks and financial institutions are optimistic about Mongolia's economic prospects. The Asian Development Bank forecasts its GDP to grow by 5.4% in 2023 and 6.1% in 2024, driven by exports, a recovery in mining, and a positive impact on transport and other activities.
Published Date:2023-05-25
