Mongolia GDP Composition by Sector

The composition of Mongolia's GDP in 2023 shows a strong reliance on the mining, manufacturing, and utilities sectors, accounting for 31.5% of the GDP. Services constitute a significant section at 29.88%, while wholesale, retail trade, restaurants, and hotels contribute 13.42%. Agriculture, hunting, forestry, and fishing sectors are close, making up 13.31%. Transport, storage, and communication hold 8.14%, and construction is relatively minor at 3.75%. Year-on-year, there has been a noticeable shift favoring mining as a primary driver, with services showing erratic growth. Over the last five years, mining has experienced consistent growth, while traditional sectors remain stable.

Future trends indicate a continued emphasis on the mining sector due to global demand for metals and resources. The service sector might see expansion with technological advancements and digital integration, while agriculture may modernize for efficiency. Watching for policy shifts and international relations will be crucial, as Mongolia seeks to balance resource dependence with economic diversification.

Top countries in GDP Composition by Sector

# 6 Countries Percent Last Year
1 1 Mining, Manufacturing, Utilities 31.5 2016
2 2 Services 29.88 2016
3 3 Wholesale, retail trade, restaurants and hotels 13.42 2016
4 4 Agriculture, hunting, forestry, fishing 13.31 2016
5 5 Transport, storage and communication 8.14 2016
6 6 Construction 3.75 2016

Top Countries about Retail