Mongolia: Share of services

* indicates monthly or quarterly data series
 Mongolia

Value added in the services sector as percent of GDP

 Latest value 40.08
 Year 2023
 Measure percent
 Data availability 1990 - 2023
 Average 40.14
 Min - Max 29.31 - 46.86
 Source The World Bank
The latest value from 2023 is 40.08 percent, a decline from 40.98 percent in 2022. In comparison, the world average is 54.55 percent, based on data from 152 countries. Historically, the average for Mongolia from 1990 to 2023 is 40.14 percent. The minimum value, 29.31 percent, was reached in 1995 while the maximum of 46.86 percent was recorded in 2012. See the global rankings for that indicator or use the country comparator to compare trends over time.
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* indicates monthly or quarterly data series


Recent data
Mongolia - Share of services - Recent values chart

Historical series
Mongolia - Share of services - historical chart - 1990-2023




The importance of services in the economy of Mongolia and other countries is measured as the value added of services as percent of GDP. The services sector includes wholesale and retail trade, transport, financial services, education, health care, and real estate.
Definition: Services correspond to ISIC divisions 50-99 and they include value added in wholesale and retail trade (including hotels and restaurants), transport, and government, financial, professional, and personal services such as education, health care, and real estate services. Also included are imputed bank service charges, import duties, and any statistical discrepancies noted by national compilers as well as discrepancies arising from rescaling. Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. It is calculated without making deductions for depreciation of fabricated assets or depletion and degradation of natural resources. The industrial origin of value added is determined by the International Standard Industrial Classification (ISIC), revision 3 or 4.

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 Related indicators Latest Reference Measure
 Share of industry 39.98 2023 percent
 Share of manufacturing 6.91 2023 percent
 Share of services 40.08 2023 percent
 Industry value added 7.95 2023 billion U.S. dollars
 Manufacturing value added 1.37 2023 billion U.S. dollars
 Services value added 7.97 2023 billion U.S. dollars
 Savings, percent of GDP 24.63 2022 percent
 Savings, in dollars 6.24 2023 billion U.S. dollars
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