Mongolia’s Economic Outlook
In its Asian Development Outlook (ADO) 2021 Update, ADB projects Mongolia’s economic growth to rebound to 4.6% in 2021, slightly lower than the 4.8% forecast in April, before accelerating to 6.0% in 2022.
| 2018 | 2019 | 2020 | 2021F | |
|---|---|---|---|---|
| GDP Growth, % | 7.2 | 5.2 | -5.3 | 4.6 |
| GDP per capita, $ | 4,135 | 4,340 | 4,007 | |
| Inflation | 6.8 | 7.3 | 3.7 | 6.9 |
| Export, billion$ | 7.01 | 7.62 | 7.58 | |
| Import, billion$ | 5.87 | 6.13 | 5.29 | |
| FDI, billion $ |
Mining is important to Mongolian Economy, it accounted for 90% of export earnings. Coal, copper, and gold are the principal reserves mined in Mongolia.
| 2018 | 2019 | 2020 | 2021f | |
|---|---|---|---|---|
| Coal Export, mil tn | 36.7 | 36.8 | 31.2 | |
| Copper export | ||||
| Gold Mining, tn | 20.6 | 16.2 | 20.2 |