Industrial production in Mongolia increased 7.1 percent year-on-year in May of 2019, accelerating from a downwardly revised 5.3 percent rise in the previous month. It was the strongest gain in industrial activity since February, as output advanced faster for manufacturing (9.7 percent vs 6.4 percent); mining & quarrying (5.9 percent vs 4.8 percent) and for electricity, thermal energy & water supply (11.5 percent vs 6.4 percent). On a seasonally adjusted monthly basis, industrial output went up 2.5 percent, rebounding from a 8.4 percent drop in the prior month. Industrial Production in Mongolia averaged 10.22 percent from 1982 until 2019, reaching an all time high of 77.50 percent in July of 2010 and a record low of -27.70 percent in December of 1990.
Industrial Production in Mongolia is expected to be 8.32 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production in Mongolia to stand at 3.50 in 12 months time. In the long-term, the Mongolia Industrial Production is projected to trend around 4.10 percent in 2020, according to our econometric models.