Unemployment in Mongolia

Mongolia Unemployment | Economic News & Forecasts

Mongolia - Unemployment

The economy contracted sharply in annual terms in Q2, albeit at a slower pace than in Q1. The downturn was underpinned by muted investment and lower exports following restrictions imposed to contain the pandemic. However, public and private consumption rose, cushioning the fall. Looking at Q3, available data suggests the economy recovered somewhat. Industrial output grew for the first time this year in September as mining and quarrying production soared. Moreover, exports surged in Q3, likely bolstered by renewed Chinese demand. Less positively, prospects for Q4 dimmed after the government declared a five-day nationwide lockdown in mid-November following the country’s first locally transmitted Covid-19 case. In other news, in late October, parliament ratified a USD 100 million low-interest loan from the Asian Infrastructure Investment Bank to help mitigate the effects of the Covid-19 pandemic.

Mongolia - Unemployment Data

2015   2016   2017   2018   2019  
Unemployment Rate7.5  10.0  8.8  7.7  10.0  

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Mongolia Unemployment Chart

Mongolia Unemployment
Note: Unemployment in % of active population.
Source: National Statistical Office of Mongolia.

Mongolia Facts

Value Change Date
Exchange Rate2,735-0.04 %Jan 01

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