GDP of Mongolia decreased by 7.3% in the first 9 months of 2020Economy
Ulaanbaatar /MONTSAME/. In the first 9 months of 2020, by preliminary estimation of production approach, Gross domestic product (GDP) at current prices was MNT 26.4 trillion, which is decreased by MNT 953.5 billion (3.5%) compared to the first 9 months of 2019. GDP at 2010 constant prices was MNT 12.7 trillion, which is decreased by MNT 1.0 trillion (7.3%) compared to the first 9 months of 2019.
The 7.3% decrease in GDP at 2010 constant prices from the first 9 months of 2019 was mainly due to MNT 595.5 billion or 20.7% decrease in value added of the mining and quarrying sector and MNT 401.4 billion or 7.0% decrease in value added of the service sector.
In the third quarter of 2020, seasonally adjusted GDP (at 2010 constant prices) increased by 4.4% compared to the previous quarter.
Source: National Statistics Office Mongolia