Gross domestic product (GDP) in Mongolia
Mongolia: Gross domestic product (GDP) was 52.07 billion international-$ in 2021 prices in 2023. ◆ Volatile
Gross domestic product (GDP) in Mongolia, 1970–2023
Source: Feenstra et al. - Penn World Table (2025) – with major processing by Our World in Data. Measured in international-$ in 2021 prices.
Analysis
In 2023, gross domestic product (gdp) in Mongolia stood at 52.07 billion international-$ in 2021 prices. That is the highest value across all 54 years on record.
Compared with earlier readings it is up 11.2% on the previous year and up 34.4% over ten years.
Over the whole period, gross domestic product (gdp) in Mongolia peaked at 52.07 billion international-$ in 2021 prices in 2023 and was at its lowest, 1.98 billion international-$ in 2021 prices, in 1970.
That places Mongolia 113th out of 184 countries with data for 2023, putting it in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 2.54 billion international-$ in 2021 prices | 1.98 billion international-$ in 2021 prices | 3.20 billion international-$ in 2021 prices | 10 |
| 1980s | 5.10 billion international-$ in 2021 prices | 3.37 billion international-$ in 2021 prices | 6.56 billion international-$ in 2021 prices | 10 |
| 1990s | 7.01 billion international-$ in 2021 prices | 5.31 billion international-$ in 2021 prices | 9.38 billion international-$ in 2021 prices | 10 |
| 2000s | 15.66 billion international-$ in 2021 prices | 8.65 billion international-$ in 2021 prices | 23.71 billion international-$ in 2021 prices | 10 |
| 2010s | 37.09 billion international-$ in 2021 prices | 26.89 billion international-$ in 2021 prices | 44.79 billion international-$ in 2021 prices | 10 |
| 2020s | 46.77 billion international-$ in 2021 prices | 43.59 billion international-$ in 2021 prices | 52.07 billion international-$ in 2021 prices | 4 |
Countries ranked near Mongolia
- 110 Mali 61.19 billion international-$ in 2021 prices compare
- 111 Bosnia and Herzegovina 60.59 billion international-$ in 2021 prices compare
- 112 Burkina Faso 54.36 billion international-$ in 2021 prices compare
- 114 Mozambique 51.89 billion international-$ in 2021 prices compare
- 115 Estonia 51.21 billion international-$ in 2021 prices compare
- 116 Guinea 51.12 billion international-$ in 2021 prices compare
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 gross domestic product (gdp) in Mongolia?
- Gross domestic product (gdp) in Mongolia was 52.07 billion international-$ in 2021 prices in 2023, according to Feenstra et al. - Penn World Table (2025) – with major processing by Our World in Data.
- What is the highest gross domestic product (gdp) recorded in Mongolia?
- The highest recorded value was 52.07 billion international-$ in 2021 prices in 2023.
- What is the lowest gross domestic product (gdp) recorded in Mongolia?
- The lowest recorded value was 1.98 billion international-$ in 2021 prices in 1970.
- How does Mongolia rank for gross domestic product (gdp)?
- Mongolia ranks 113th out of 184 countries with data for 2023.
- Is gross domestic product (gdp) rising or falling in Mongolia?
- Over the last ten years it is up 34.4%. The long-run trend across the full record is volatile.
- Where does this Mongolia data come from?
- The figures come from Feenstra et al. - Penn World Table (2025) – with major processing by Our World in Data, published as part of Gross domestic product (GDP). Statizoid updates them automatically from the source API.
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About this data
Total economic output of a country or region per year. This data is adjusted for inflation and differences in living costs between countries.