GDP OF MONGOLIA DECREASED BY 7.3% IN THE FIRST 9 MONTHS OF 2020

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.

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rce: National Statistics Office Mongolia