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Mongolia GDP Annual Growth Rate

Mongolia's GDP annual growth rate fell to 4.86% in 2024, down from 7.42% in 2023, according to World Bank. This represents a decrease of 2.56% from the previous year. Mongolia has GDP annual growth rate higher than the global median (4.86% vs median 3.24%). Compared with the median in Asia, Mongolia is higher (4.86% vs regional median 3.76%) and ranks 17th out of 47 countries in Asia.

Mongolia's real GDP rose to $16.27 billion in 2024, up from $15.51 billion in 2023.

Yearly Historical Data (1982-2024)

(in %)
Year GDP Annual Growth Rate (%)
2024 4.86%
2023 7.42%
2022 5.03%
2021 1.64%
2020 -4.56%
2019 5.6%
2018 7.74%
2017 5.64%
2016 1.49%
2015 2.38%
2014 7.89%
2013 11.65%
2012 12.32%
2011 17.29%
2010 6.37%
2009 -1.27%
2008 8.9%
2007 10.25%
2006 8.56%
2005 7.25%
2004 10.63%
2003 7%
2002 4.73%
2001 2.95%
2000 1.15%
1999 3.07%
1998 3.34%
1997 3.9%
1996 2.24%
1995 6.38%
1994 2.13%
1993 -3.17%
1992 -9.26%
1991 -8.69%
1990 -3.18%
1989 4.18%
1988 5.11%
1987 3.46%
1986 9.37%
1985 5.71%
1984 5.93%
1983 5.83%
1982 8.34%
Mongolia GDP Annual Growth Rate : Definition
GDP Annual Growth Rate measures the yearly percentage change in Mongolia's total economic output.
Indicator Last Value Prior Value Period
GDP $23.59B $20.33B 2024
GDP per Capita $4,615.44 $4,456.54 2024
GDP per Capita PPP $16,801.31 $16,222.86 2024
R&D Expenditure (% GDP) 0.08% 0.1% 2022
Real GDP $16.27B $15.51B 2024