ULAN BATOR, May 17 (Xinhua) -- Mongolia's gross domestic product (GDP) grew 2.4 percent year on year in the first quarter of 2025, official data released by the country's National Statistics Office (NSO) showed Saturday.

The Asian country's GDP totaled 19 trillion Mongolian tugriks (5.3 billion U.S. dollars) in the January-March period, and the growth was mainly attributed to good performance in the agricultural, services and mining sectors, the NSO said.

The landlocked country's economy grew 4.9 percent in 2024, according to the statistical agency.

Meanwhile, the Asian Development Bank (ADB) has predicted that Mongolia's economy would grow by 6.6 percent in 2025 and 5.9 percent in 2026.

According to the ADB, economic growth in Mongolia will be mainly driven by increased mining output and services and supported by robust domestic demand, infrastructure investment, and a gradual recovery in agriculture. ■