On Wednesday, the National Statistical Office of Mongolia (NSO) released data indicating that in 2025, the volume of industrial production amounted to ₮52.9 trillion ($14.8 billion), which is 4.8% more than last year. This information is reported by MiddleAsianNews.
In the NSO report, it is noted that this growth is due to a significant increase in production in key sectors such as mining, mineral extraction, and processing.
The mining sector continues to be the cornerstone of Mongolia's economy due to its rich natural resource reserves, including gold, silver, copper, and coal.
According to statistics, in 2025, mining products such as coal, copper, and iron ore accounted for 99.2% of Mongolia's total exports.
Forecasts for 2026 predict GDP growth for Mongolia at 5.7–5.9%, supported by increased mineral extraction, investments in infrastructure, and growing domestic demand. The latest report from the Asian Development Bank (ADB) highlights stable growth but also points to potential downward adjustments due to declining mineral resource exports and fiscal changes.
Despite structural issues, Mongolia's economic resilience indicators remain high in 2026. The AustCham Mongolia forecast is based on an analysis of local data and overall economic trends, including ADB studies.
⛏️ Key Growth Factors:
• Mining Industry: Copper extraction at Oyu Tolgoi continues to be an important growth driver, increasing both production and exports.
• Service Sectors and Non-Resource Economy: Growth in services, construction, and energy contributes to the expansion of the economic base.
• Agriculture and Domestic Demand: Agriculture shows signs of recovery after losses caused by dzud, while private consumption and investments support economic activity.
? Inflation and Macroeconomic Pressure: Inflation is expected to remain high but decrease to around 7% by 2026, which will be a positive factor for households and businesses planning their expenses and investments.
Coal continues to be a key element of Mongolia's economy, as evidenced by its significant role in industrial production, exports, tax revenues, and logistics. This sector generates about 70% of total industrial production, with coal accounting for approximately 43%. Furthermore, the mining sector dominates Mongolia's exports, making coal a key source of foreign currency and external liquidity.
Additionally, the coal industry supports the service sector through trade, transportation, and job creation. The volume of freight transportation in this sector creates demand for rail and road transport, and the growth of the mining sector typically has a positive impact on the labor market and overall consumption.
Thus, the state of the coal industry significantly influences the overall economic situation.
