Analysis by Region - Asia Pacific - Mongolia
We forecast Mongolia’s GDP to expand by 5.3% y/y in 2024, after growing by 7.1% y/y in 2023. Severe dzud (extreme cold and heavy snow) occurred in earlier this year and associated losses in livestock will hamper household income gains, limiting consumption growth. Exports are likely to grow only moderately as the one-time boost in mine shipping to China after reopening ended.
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