The IMF conducted a remote technical assistance (TA) mission from March 1 to 12, 2021, to help the National Statistics Office of Mongolia (NSOM) compile a monthly indicator of economic activity (MIEA). Experimental results describe monthly economic activity from January 2010 to January 2021 as well as the impact of the COVID-19. This second mission for developing the MIEA was funded by the IMF's Data for Decisions trust fund1 (D4D).
This Selected Issues paper and Statistical Appendix analyzes growth and recovery in Mongolia during transition. The paper describes the major sources of economic growth in Mongolia since the early 1980s in the context of a basic growth accounting framework. It discusses Mongolia’s post-transition growth performance relative to other transition countries. This paper also summarizes the main weaknesses of the existing national accounts statistics and reviews the recent developments and prospects for the main components of GDP.
This paper examines the progress made in four Asian transition economies—China, Lao P.D.R., Vietnam, and Mongolia—to market-based systems. Overall, these economies appear to have had a more favorable experience with inflation stabilization and output growth than that of transition economies elsewhere. While initial conditions played an important role in determining the strategy and speed of the transition, growth performance benefited from continued macroeconomic stability and reforms in a key sector (such as agriculture); this confirms the need for sustained and rapid structural reforms and highlights the constraints for sustainable growth posed by weak financial and enterprise sectors.