";s:4:"text";s:4087:"Finally, agriculture makes up for 13 percent of total GDP. GDP Growth Rate in 2017 was 5.30%, representing a change of 626,478,524 US$ over 2016, … [24] Just as the economy started to recover, Mongolia777 was hit by a Zud over the winter period of 2009-2010, causing many livestock to perish and thus severely affecting cashmere production which accounts for a further 7% of the country’s export revenues.[23]. [33] However, Mongolia had one of the highest banking branch penetration rates in the world at 1 bank branch per 15,257 residents as of May 2015.[30]. The economy of Mongolia has traditionally been based on agriculture and livestock. Industry has been expanding heavily in the past few years, contributing the most to economic growth and accounting for 34 percent of total output. GDP growth (annual %) - Mongolia. Soviet assistance, at its height one-third of Gross domestic product (GDP), disappeared almost overnight in 1990–91, at the time of the Collapse of the Soviet Union. Mongolia GDP (Gross Domestic Product) was INT$34.22billion for 2019 in PPP terms. In August and September 1999, the economy suffered from a temporary Russian ban on exports of oil and oil products. [23] Because of this, it was projected that between 20,000 and 40,000 fewer Mongolians (0.7% and 1.4% of the population respectively) will be lifted out of poverty, than would have been the case without the global financial crisis. Mongolia Inflation Rate Lowest since 2017, Mongolia Trade Surplus Widens 24.4% in May, Mongolia Industrial Output Growth at 3-Month High, Mongolia GDP Growth for Q1 Highest since 2014, Mongolia Holds Policy Interest Rate at 11%, China Services Growth at 7-Year High: NBS, China Manufacturing Expands for 8th Month: NBS, Dollar Up for 3rd Day to Book Best Week in a Month, TSX Drops on Friday, Books 4.5% Weekly Loss, Brent Crude Down for 3rd Day to Book Biggest Weekly Loss since April, WTI Crude Tumbles 11% in October on Demand Concerns. Household income or consumption by percentage share: Distribution of family income - Gini index: GDP Growth Rate in Mongolia averaged 5.45 percent from 1991 until 2018, reaching an all time high of 17.50 percent in the fourth quarter of 2011 and a record low of -9.30 percent in the fourth quarter of 1992. The report includes country-specific three-year forecasts for major macroeconomic indicators, including commodity and financial markets. Mongolia was driven into deep recession. Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. However, minerals, animals, and animal-derived products still constitute a large proportion of the country's exports. Aaron Batten, Poullang Doung, Enerelt Enkhbold, Gemma Estrada, Jan Hansen, George Luarsabishvili, Md. The Gross Domestic Product (GDP) in Mongolia expanded 6.10 percent in the first quarter of 2018 over the previous quarter. Mongolia gdp … Another balance-of-payments crisis is likely in the medium term, but beyond our 2020-21 forecast period. [19] However, because much of this growth is export-based, Mongolia is suffering from the global slowdown in mining caused by decreased growth in China.[20].