Mon, 11 Dec 2023

Mongolia's GDP expands 6.9 pct in first 3Qs

17 Nov 2023, 15:05 GMT+10

ULAN BATOR, Nov. 17 (Xinhua) -- Mongolia's gross domestic product (GDP) grew 6.9 percent year on year in the first three quarters of 2023, according to official data released Friday.

The country's GDP amounted to 46.5 trillion Mongolian tugriks (13.5 billion U.S. dollars), the National Statistics Office said.

According to the agency, the increase was primarily driven by a significant growth in mining exports.

Mongolia is rich in natural resources, and the mining sector has been a main driver of economic growth for years.

The landlocked country's economy grew 4.8 percent in 2022 and 1.4 percent in 2021.

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