Gross domestic product (GDP) in Mongolia
Mongolia: Gross domestic product (GDP) was 52.07 billion international-$ in 2021 prices in 2023. ◆ Volatile
Latest (2023)
52.07 billion international-$ in 2021 prices
Change on year
up 11.2%
World rank
113th
of 184 countries
All-time high
52.07 billion international-$ in 2021 prices
in 2023
All-time low
1.98 billion international-$ in 2021 prices
in 1970
Years of data
54
1970–2023
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.
Gross domestic product (GDP) in Mongolia, year by year
| Year | international-$ in 2021 prices | Change |
|---|---|---|
| 1970 | 1.98 billion international-$ in 2021 prices | — |
| 1971 | 2.07 billion international-$ in 2021 prices | +4.7% |
| 1972 | 2.14 billion international-$ in 2021 prices | +3.6% |
| 1973 | 2.33 billion international-$ in 2021 prices | +8.8% |
| 1974 | 2.43 billion international-$ in 2021 prices | +4.3% |
| 1975 | 2.58 billion international-$ in 2021 prices | +5.9% |
| 1976 | 2.67 billion international-$ in 2021 prices | +3.7% |
| 1977 | 2.94 billion international-$ in 2021 prices | +9.8% |
| 1978 | 3.07 billion international-$ in 2021 prices | +4.5% |
| 1979 | 3.20 billion international-$ in 2021 prices | +4.4% |
| 1980 | 3.70 billion international-$ in 2021 prices | +15.6% |
| 1981 | 3.37 billion international-$ in 2021 prices | -9.1% |
| 1982 | 3.99 billion international-$ in 2021 prices | +18.5% |
| 1983 | 4.58 billion international-$ in 2021 prices | +14.7% |
| 1984 | 5.22 billion international-$ in 2021 prices | +13.9% |
| 1985 | 5.24 billion international-$ in 2021 prices | +0.4% |
| 1986 | 5.66 billion international-$ in 2021 prices | +8.2% |
| 1987 | 6.20 billion international-$ in 2021 prices | +9.4% |
| 1988 | 6.56 billion international-$ in 2021 prices | +5.9% |
| 1989 | 6.53 billion international-$ in 2021 prices | -0.4% |
| 1990 | 9.38 billion international-$ in 2021 prices | +43.6% |
| 1991 | 6.88 billion international-$ in 2021 prices | -26.7% |
| 1992 | 6.59 billion international-$ in 2021 prices | -4.2% |
| 1993 | 5.31 billion international-$ in 2021 prices | -19.4% |
| 1994 | 5.63 billion international-$ in 2021 prices | +6.0% |
| 1995 | 7.30 billion international-$ in 2021 prices | +29.7% |
| 1996 | 6.89 billion international-$ in 2021 prices | -5.6% |
| 1997 | 7.23 billion international-$ in 2021 prices | +4.9% |
| 1998 | 7.25 billion international-$ in 2021 prices | +0.4% |
| 1999 | 7.67 billion international-$ in 2021 prices | +5.7% |
| 2000 | 8.65 billion international-$ in 2021 prices | +12.8% |
| 2001 | 9.62 billion international-$ in 2021 prices | +11.2% |
| 2002 | 10.53 billion international-$ in 2021 prices | +9.4% |
| 2003 | 11.45 billion international-$ in 2021 prices | +8.7% |
| 2004 | 13.51 billion international-$ in 2021 prices | +18.0% |
| 2005 | 15.98 billion international-$ in 2021 prices | +18.4% |
| 2006 | 18.84 billion international-$ in 2021 prices | +17.9% |
| 2007 | 21.80 billion international-$ in 2021 prices | +15.7% |
| 2008 | 23.71 billion international-$ in 2021 prices | +8.8% |
| 2009 | 22.51 billion international-$ in 2021 prices | -5.1% |
| 2010 | 26.89 billion international-$ in 2021 prices | +19.5% |
| 2011 | 34.03 billion international-$ in 2021 prices | +26.6% |
| 2012 | 39.47 billion international-$ in 2021 prices | +16.0% |
| 2013 | 38.73 billion international-$ in 2021 prices | -1.9% |
| 2014 | 37.50 billion international-$ in 2021 prices | -3.2% |
| 2015 | 36.10 billion international-$ in 2021 prices | -3.8% |
| 2016 | 35.82 billion international-$ in 2021 prices | -0.8% |
| 2017 | 36.98 billion international-$ in 2021 prices | +3.2% |
| 2018 | 40.61 billion international-$ in 2021 prices | +9.8% |
| 2019 | 44.79 billion international-$ in 2021 prices | +10.3% |
| 2020 | 44.61 billion international-$ in 2021 prices | -0.4% |
| 2021 | 43.59 billion international-$ in 2021 prices | -2.3% |
| 2022 | 46.81 billion international-$ in 2021 prices | +7.4% |
| 2023 | 52.07 billion international-$ in 2021 prices | +11.2% |
Mongolia compared with similar countries
- Mongolia's 52.07 billion international-$ in 2021 prices is below the median for upper middle income countries, which is 148.60 billion international-$ in 2021 prices, 35% of the median. (51 countries reporting)
- Mongolia's 52.07 billion international-$ in 2021 prices is below the median for East Asia & Pacific, which is 596.79 billion international-$ in 2021 prices, 9% of the median. (19 countries reporting)
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
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 4.08 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 5.17 Percent per annum (2029)
- Foreign direct investment, net outflows (BoP, current US$), gaps 55.47 million BoP, current US$ (2024)
- Foreign direct investment, net outflows (BoP, current US$), per unit 0.0023 BoP, current US$ per US$ of GDP (2024)
- Foreign direct investment, net outflows (BoP, current US$), per capita 15.74 BoP, current US$ per person (2024)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 2.78 billion BoP, current US$ (2024)
- Foreign direct investment, net inflows (BoP, current US$), annual 23.79 % change on previous year (2024)
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.1169 BoP, current US$ per US$ of GDP (2024)
- Foreign direct investment, net inflows (BoP, current US$), per capita 789.32 BoP, current US$ per person (2024)
- Total reserves (includes gold, current US$), annual growth rate 27.16 % change on previous year (2025)
Frequently asked questions
- What is gross domestic product (gdp) in Mongolia?
- Gross domestic product (gdp) in Mongolia was 52.07 billion international-$ 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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CSV · JSON — 54 observations, free to reuse under CC BY 4.0 (Our World in Data).
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.