Why Mongolia’s Strong Growth Still Feels Weak to Households

Mongolia’s economy expanded by 6.4% through November 2025, a figure driven more by statistical recovery than broad-based prosperity. While national output stabilized, many households saw their financial positions erode.

Downtown Ulaanbaatar

Agricultural output soared by 34.6%, contributing 3.2 percentage points—half of Mongolia’s total growth. This apparent rural boom, however, reflects a rebound from 27.8% contraction in 2024, when extreme weather decimated livestock herds.

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