Tue, 22 Jun 2021

Mongolia's GDP grows 22.5 pct in Q1

Xinhua
17 May 2021, 23:30 GMT+10

ULAN BATOR, May 17 (Xinhua) -- Mongolia's gross domestic product (GDP) grew 22.5 percent year on year in the first quarter of 2021, official data released by the country's National Statistics Office (NSO) showed Monday.

The GDP amounted to 9.2 trillion Mongolian Tugriks (about 3.22 billion U.S. dollars) in the January-March period, the NSO said.

The significant increase was mainly due to revenue from the mining sector, which grew by 34.1 percent, according to the statistical agency.

Mongolia is rich in natural resources, and the mining sector has been one of the main drivers of the country's economic growth for many years.

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