Analysis by Region - Asia Pacific - Mongolia

Analysis by Region - Asia Pacific - Mongolia

We forecast Mongolia’s GDP will expand by 3.1% in 2022 following 1.4% growth in 2021, when domestic activity restrictions and China's strict border controls limited consumption and export activities. Looking ahead, the recently signed plans to expand the copper and gold mine project in Oyu Tolgoi will support fixed asset investment, but the ongoing zero tolerance approach to coronavirus infections in China will continue to weigh on exports. The consumption recovery will be hindered by high inflation.