Annual GDP growth in Mongolia
Mongolia: Annual GDP growth was 7.4% in 2023. ◆ Volatile
Latest (2023)
7.4%
Change on year
up 47.5%
World rank
16th
of 211 countries
All-time high
17.3%
in 2011
All-time low
-4.6%
in 2020
Years of data
24
2000–2023
Annual GDP growth in Mongolia, 2000–2023
Source: World Bank – processed by Our World in Data. Measured in %.
Analysis
In 2023, annual gdp growth in Mongolia stood at 7.4%.
That represents a change of up 47.5% on the previous year and down 36.3% over ten years.
Over the whole period, annual gdp growth in Mongolia peaked at 17.3% in 2011 and was at its lowest, -4.6%, in 2020.
That places Mongolia 16th out of 211 countries with data for 2023, putting it in the top 10%.
The series is highly variable year to year, so single readings are best treated with caution.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 6.0% | -1.3% | 10.6% | 10 |
| 2010s | 7.8% | 1.5% | 17.3% | 10 |
| 2020s | 2.4% | -4.6% | 7.4% | 4 |
Countries ranked near Mongolia
More economy & growth data for Mongolia
- External balance on goods and services as a percent of GDP 5.4% (2025)
- Inflation of consumer prices 8.6% (2025)
- GDP per capita 4,882 constant 2015 US$ (2025)
- Share of manufacturing in gross domestic product (GDP) 5.9% (2025)
- Gross domestic product (GDP) 17.42 billion constant 2015 US$ (2025)
- GDP per capita in international and market dollars 4,882 constant 2015 US$ (2025)
- DEC alternative conversion factor 3,545 LCU per US$ (2025)
- Net secondary income (Net current transfers from abroad) 1.26 trillion current LCU (2025)
- Net secondary income (Net current transfers from abroad) 355.63 million current US$ (2025)
- Taxes less subsidies on products 8.52 trillion current LCU (2025)
Frequently asked questions
- What is annual gdp growth in Mongolia?
- Annual gdp growth in Mongolia was 7.4% in 2023, according to World Bank – processed by Our World in Data.
- What is the highest annual gdp growth recorded in Mongolia?
- The highest recorded value was 17.3% in 2011.
- What is the lowest annual gdp growth recorded in Mongolia?
- The lowest recorded value was -4.6% in 2020.
- How does Mongolia rank for annual gdp growth?
- Mongolia ranks 16th out of 211 countries with data for 2023.
- Is annual gdp growth rising or falling in Mongolia?
- Over the last ten years it is down 36.3%. The long-run trend across the full record is volatile.
- Where does this Mongolia data come from?
- The figures come from World Bank – processed by Our World in Data, published as part of Annual GDP growth. Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 24 observations, free to reuse under CC BY 4.0 (Our World in Data).
About this data
Annual GDP growth (%)