Mongolia Q3 GDP Strongest in Over a Year

Mongolia’s economy grew by 5.9% year-on-year in the third quarter of 2025, accelerating from a 5.6% expansion in the previous three-month period. This marked the fastest economic growth since the first quarter last year, mainly driven by a strong performance for mining and quarrying (1.1% vs 0.1% in Q2) and in the industry and construction sectors (1.1% vs 0.1%), particularly in manufacturing. In contrast, output growth slightly softened for agriculture (3.4% vs 3.6%) and in the services sector (0.6% vs 0.7%), due to declines in wholesale and retail and transportation. On a seasonally adjusted quarterly basis, the GDP expanded by 1.4% in Q3, following a 1.6% gain in the preceding period.