Mongolia’s GDP grows 7.3 percent in H1

Xinhua News Agency | Aug 15, 2019 at 3:18 PM

ULAN BATOR, Aug. 15 (Xinhua) -- Mongolia's gross domestic product (GDP) grew by 7.3 percent year-on-year in the first half of this year, said the country's National Statistical Office (NSO) on Thursday.

The Asian country's GDP totaled 8.6 trillion Mongolian tugriks (3.2 billion U.S. dollars) in the January-June period and the growth was mainly attributed to good performance in the industry, services and mining sectors, which recorded 9.3, 7.4 and 13 percent growth respectively, according to the NSO.

The mineral-rich country's economy expanded 8.6 percent year-on-year in the first quarter of this year, which was the strongest GDP growth rate since the third quarter of 2014 when the figure stood at 9.1 percent.

The World Bank has predicted that Mongolia's economy would grow by 7.2 percent in 2019 and 6.9 percent in 2020.