Mongolia’s GDP per capita may rise to 7 million MNT | Ubpost News: "Analysts believe that the nation’s economic growth will remain high in 2014. According to projections, the GDP will grow by 14.7 percent in 2014, while it will be 11.8 percent in 2015 and 14.6 percent in 2016. Thus, in 2014 the GDP per capita may rise to 7 million MNT (5,300 USD) with 18.1 percent growth from the previous year.
Though the increase cannot surpass the 20.9 percent growth of 2013, Mongolia will be listed as a country with average income regarding GDP.
In 2014, practical sectors of the economy will see growth. Agriculture will have growth of 3.9 percent, manufacturing 24.8 percent, and the service sector will grow by 11.8 percent according to one projection, while the mining sector will enjoy 31.7 percent growth and other non-mining sectors will have 10.4 percent growth in 2014. Specifically, between 2014 and 2016, Oyu Tolgoi’s manufacturing will increase by two to three times compared to 2013. Also, extraction at both the East and West Tsanhi of Tavan Tolgoi will be intensified."
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Though the increase cannot surpass the 20.9 percent growth of 2013, Mongolia will be listed as a country with average income regarding GDP.
In 2014, practical sectors of the economy will see growth. Agriculture will have growth of 3.9 percent, manufacturing 24.8 percent, and the service sector will grow by 11.8 percent according to one projection, while the mining sector will enjoy 31.7 percent growth and other non-mining sectors will have 10.4 percent growth in 2014. Specifically, between 2014 and 2016, Oyu Tolgoi’s manufacturing will increase by two to three times compared to 2013. Also, extraction at both the East and West Tsanhi of Tavan Tolgoi will be intensified."
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