Gross Domestic Product — Value US$ in Mongolia
Mongolia: Gross Domestic Product — Value US$ was 23,060 million USD in 2024. ◆ Volatile
Gross Domestic Product — Value US$ in Mongolia, 1970–2024
Source: Food and Agriculture Organization of the United Nations. Measured in million USD.
Analysis
In 2024, gross domestic product — value us$ in Mongolia stood at 23,060 million USD. That is the highest value across all 55 years on record.
Compared with earlier readings it is up 16.0% on the previous year and up 88.6% over ten years.
Over the whole period, gross domestic product — value us$ in Mongolia peaked at 23,060 million USD in 2024 and was at its lowest, 202.1 million USD, in 1970.
That places Mongolia 135th out of 236 countries with data for 2024, 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 — Value US$ in Mongolia, year by year
| Year | million USD | Change |
|---|---|---|
| 1970 | 202.1 million USD | — |
| 1971 | 222.3 million USD | +10.0% |
| 1972 | 240.29 million USD | +8.1% |
| 1973 | 276.03 million USD | +14.9% |
| 1974 | 313.57 million USD | +13.6% |
| 1975 | 364.92 million USD | +16.4% |
| 1976 | 400.03 million USD | +9.6% |
| 1977 | 457.97 million USD | +14.5% |
| 1978 | 527.04 million USD | +15.1% |
| 1979 | 595.11 million USD | +12.9% |
| 1980 | 690.67 million USD | +16.1% |
| 1981 | 819.35 million USD | +18.6% |
| 1982 | 942.45 million USD | +15.0% |
| 1983 | 1,036 million USD | +9.9% |
| 1984 | 1,137 million USD | +9.7% |
| 1985 | 1,240 million USD | +9.0% |
| 1986 | 1,384 million USD | +11.6% |
| 1987 | 1,468 million USD | +6.1% |
| 1988 | 1,598 million USD | +8.8% |
| 1989 | 1,730 million USD | +8.3% |
| 1990 | 1,749 million USD | +1.1% |
| 1991 | 1,651 million USD | -5.6% |
| 1992 | 1,532 million USD | -7.2% |
| 1993 | 1,519 million USD | -0.9% |
| 1994 | 1,585 million USD | +4.3% |
| 1995 | 1,721 million USD | +8.6% |
| 1996 | 1,642 million USD | -4.6% |
| 1997 | 1,468 million USD | -10.6% |
| 1998 | 1,354 million USD | -7.8% |
| 1999 | 1,261 million USD | -6.8% |
| 2000 | 1,318 million USD | +4.5% |
| 2001 | 1,470 million USD | +11.5% |
| 2002 | 1,619 million USD | +10.1% |
| 2003 | 1,850 million USD | +14.2% |
| 2004 | 2,310 million USD | +24.9% |
| 2005 | 2,926 million USD | +26.7% |
| 2006 | 3,959 million USD | +35.3% |
| 2007 | 4,910 million USD | +24.0% |
| 2008 | 6,520 million USD | +32.8% |
| 2009 | 5,315 million USD | -18.5% |
| 2010 | 7,189 million USD | +35.3% |
| 2011 | 10,410 million USD | +44.8% |
| 2012 | 12,293 million USD | +18.1% |
| 2013 | 12,582 million USD | +2.4% |
| 2014 | 12,226 million USD | -2.8% |
| 2015 | 11,620 million USD | -5.0% |
| 2016 | 11,181 million USD | -3.8% |
| 2017 | 11,481 million USD | +2.7% |
| 2018 | 13,178 million USD | +14.8% |
| 2019 | 14,206 million USD | +7.8% |
| 2020 | 13,313 million USD | -6.3% |
| 2021 | 15,286 million USD | +14.8% |
| 2022 | 17,146 million USD | +12.2% |
| 2023 | 19,872 million USD | +15.9% |
| 2024 | 23,060 million USD | +16.0% |
Mongolia compared with similar countries
- Mongolia's 23,060 million USD is below the median for upper middle income countries, which is 44,912 million USD, 51% of the median. (54 countries reporting)
- Mongolia's 23,060 million USD is above the median for East Asia & Pacific, which is 15,030 million USD, 1.5× the median. (28 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 359.94 million USD | 202.1 million USD | 595.11 million USD | 10 |
| 1980s | 1,204 million USD | 690.67 million USD | 1,730 million USD | 10 |
| 1990s | 1,548 million USD | 1,261 million USD | 1,749 million USD | 10 |
| 2000s | 3,220 million USD | 1,318 million USD | 6,520 million USD | 10 |
| 2010s | 11,637 million USD | 7,189 million USD | 14,206 million USD | 10 |
| 2020s | 17,736 million USD | 13,313 million USD | 23,060 million USD | 5 |
Countries ranked near Mongolia
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)
- SDRs holdings, US dollar, annual growth rate -2.15 % change on previous year (2025)
- SDRs holdings, US dollar, per unit of GDP 0.0035 units per US$ of GDP (2025)
- SDRs holdings, US dollar, per capita 24.74 units per person (2025)
- SDRs holdings, SDR, annual growth rate -6.82 % change on previous year (2025)
- SDRs holdings, SDR, per unit of GDP 0.0025 units per US$ of GDP (2025)
- SDRs holdings, SDR, per capita 18.07 units per person (2025)
- IMF holdings of currency, US dollar, annual growth rate -22.42 % change on previous year (2025)
- IMF holdings of currency, US dollar, per unit of GDP 0.0068 units per US$ of GDP (2025)
Frequently asked questions
- What is gross domestic product — value us$ in Mongolia?
- Gross domestic product — value us$ in Mongolia was 23,060 million USD in 2024, according to Food and Agriculture Organization of the United Nations.
- What is the highest gross domestic product — value us$ recorded in Mongolia?
- The highest recorded value was 23,060 million USD in 2024.
- What is the lowest gross domestic product — value us$ recorded in Mongolia?
- The lowest recorded value was 202.1 million USD in 1970.
- How does Mongolia rank for gross domestic product — value us$?
- Mongolia ranks 135th out of 236 countries with data for 2024.
- Is gross domestic product — value us$ rising or falling in Mongolia?
- Over the last ten years it is up 88.6%. The long-run trend across the full record is volatile.
- Where does this Mongolia data come from?
- The figures come from Food and Agriculture Organization of the United Nations, published as part of Gross Domestic Product — Value US$. Statizoid updates them automatically from the source API.
Download this data
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About this data
The FAOSTAT Macro Indicators database provides a selection of country-level macro indicators relating to total economy (Gross Domestic Product, Gross Fixed Capital Formation); agriculture activity; agriculture, forestry and fishing activity; total manufacturing activity; manufacturing of food products and beverages activity; manufacturing activity of tobacco products; and manufacturing activity of food, beverage and tobacco products.It releases time series for a selection of National Accounts variables, including gross domestic product, gross fixed capital formation, industry-level value added and gross output. The database also proposes additional indicators such as gross domestic product per capita, year-on-year growth rates and measures of industry contribution to gross domestic product. All data relating to Gross Domestic Product, Gross Fixed Capital Formation, agriculture, forestry and fishing activity, and to total manufacturing activity originates from the United Nations Statistics Division (UNSD) National Accounts Estimates of Main Aggregates database, which consists of a complete and consistent set of time series of the main National Accounts aggregates of all UN Members States and other territories in the world for which National Accounts information is available. The UNSD database's content is based on the countries' official National Accounts data reported to UNSD through the annual National Accounts Questionnaire, supplemented with data estimates for any years and countries with incomplete or inconsistent information (See http://unstats.un.org/unsd/snaama/Introduction.asp). Data series relating to the sub-industry Agriculture activity are obtained from the UNSD national accounts Official Country Data databases while series on the Manufacturing activity of food and beverages products, manufacturing activity of tobacco products and manufacturing activity of food, beverages and tobacco products originates from the United Nations Industrial Development Organization (UNIDO) INDSTAT2 database. In order to ensure that sub-industry series are consistent in levels with National Accounts based series, which is needed to support comparability across industries (agriculture vs. agro-industry and sub-industries), UNIDO originating series are rescaled on UNSD National Accounts Estimates of Main Aggregates data series (See Section 17.5 for a more detailed description of the data processing steps).