Mongolia's GDP grows 4.8 pct in 2022

0 Comment(s)Print E-mail Xinhua, February 17, 2023
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ULAN BATOR, Feb. 17 (Xinhua) -- Mongolia's gross domestic product (GDP) grew 4.8 percent in 2022, official data released by the country's National Statistics Office (NSO) showed Friday.

As a result, the country's GDP in 2022 totaled 52.9 trillion Mongolian Tugriks (about 15.1 billion U.S. dollars), the NSO said in a statement.

The increase was mainly related to a significant growth of the agricultural and mining sectors, according to the statistical agency.

Mongolia is rich in natural resources, and the mining sector has been one of the main drivers of the country's economic growth for years.

Meanwhile, agriculture is a traditional sector of the nomadic country, producing almost 30 percent of the GDP and over 10 percent of the total exports, according to the Ministry of Food, Agriculture and Light Industry.

The landlocked Asian country's economy grew 1.4 percent in 2021. Enditem

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