Diverse industries boost GDP
Though Mongolian gross domestic product (GDP) growth has been slow, the influence of sub-sectors on general GDP growth has increased according to a study done in late 2012.
The mining sector constituted 20 percent of the GDP (the highest percentage among all sectors), while 17.7 percent is occupied by wholesale, retail trade, and mechanical repairs.
The study also showed that the agricultural industry sector has grown significantly in recent years. It constituted 12.3 percent of Mongolian GDP in 2011, but rose by over two percent to 14.2 in 2012.
The education sector represented 4.6 percent of the GDP in 2012, a remarkable increase also deserving mention. However, the study showed that one of the largest sectors in the GDP, the processing plant industry, saw its percentage decline.
Thus, Mongolian GDP per capita was 3,300 USD or 4.9 million MNT in 2012. But in 2013, increase in GDP per capita is estimated to rise by 18.1 percent. In 2014, it is estimated to reach 5,300 USD.
Short URL: http://ubpost.mongolnews.mn/?p=4980
The mining sector constituted 20 percent of the GDP (the highest percentage among all sectors), while 17.7 percent is occupied by wholesale, retail trade, and mechanical repairs.
The study also showed that the agricultural industry sector has grown significantly in recent years. It constituted 12.3 percent of Mongolian GDP in 2011, but rose by over two percent to 14.2 in 2012.
The education sector represented 4.6 percent of the GDP in 2012, a remarkable increase also deserving mention. However, the study showed that one of the largest sectors in the GDP, the processing plant industry, saw its percentage decline.
Thus, Mongolian GDP per capita was 3,300 USD or 4.9 million MNT in 2012. But in 2013, increase in GDP per capita is estimated to rise by 18.1 percent. In 2014, it is estimated to reach 5,300 USD.
Short URL: http://ubpost.mongolnews.mn/?p=4980
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