ULAN BATOR, Feb 17 (NNN-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 today.
As a result, the country’s GDP in 2022 totalled 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 country’s economy grew 1.4 percent in 2021.– NNN-XINHUA
