construction and construction materials, mining (coal, copper, molybdenum, fluorspar, tin, tungsten, and gold), oil, food and beverages, processing of animal products, cashmere wool and natural fiber manufacturing
machinery and equipment, fuel, cars, food products, industrial consumer goods, chemicals, building materials, cigarettes and tobacco, appliances, soap and detergent
Main data source:CIA World Fact Book All values, unless otherwise stated, are in US dollars.
The economy of Mongolia has traditionally been based on agriculture and livestock. Mongolia also has extensive mineral deposits: copper, coal, molybdenum, tin, tungsten, and gold account for a large part of industrial production. Soviet assistance, at its height one-third of Gross domestic product (GDP), disappeared almost overnight in 1990–91, in the time of the collapse of the Soviet Union. Mongolia was driven into deep recession.
Economic growth picked up in 1997–99 after stalling in 1996 due to a series of natural disasters and increases in world prices of copper and cashmere. Public revenues and exports collapsed in 1998 and 1999 due to the repercussions of the Asian financial crisis. In August and September 1999, the economy suffered from a temporary Russian ban on exports of oil and oil products. Mongolia joined the World Trade Organization (WTO) in 1997.[19] The international donor community pledged over $300 million per year in the last Consultative Group Meeting, held in Ulaanbaatar in June 1999. Recently, the Mongolian economy has grown at a fast pace due to an increase in mining and Mongolia attained a GDP growth rate of 11.7% in 2013.[20] However, because much of this growth is export-based, Mongolia is suffering from the global slowdown in mining caused by decreased growth in China.[21]
^"World Economic Outlook Database, April 2019". IMF.org. International Monetary Fund. Retrieved 29 September 2019.
^"World Bank Country and Lending Groups". datahelpdesk.worldbank.org. World Bank. Retrieved 29 September 2019.
^"Population, total - Mongolia". data.worldbank.org. World Bank. Retrieved 13 October 2019.
^ abc"World Economic Outlook Database, October 2019". IMF.org. International Monetary Fund. Retrieved 20 October 2019.
^ abc"World Economic Outlook Database, April 2020". IMF.org. International Monetary Fund. Retrieved 20 April 2020.
^Global Economic Prospects, June 2020. World Bank. 8 June 2020. p. 74. doi:10.1596/978-1-4648-1553-9. ISBN 978-1-4648-1553-9. Retrieved 10 June 2020. {{cite book}}: |website= ignored (help)
^ abcdefghijklm"The World Factbook". CIA.gov. Central Intelligence Agency. Retrieved 5 April 2019.
^"Poverty headcount ratio at national poverty lines (% of population) - Mongolia". data.worldbank.org. World Bank. Retrieved 9 January 2020.
^"Poverty headcount ratio at $3.20 a day (2011 PPP) (% of population) - Mongolia". data.worldbank.org. World Bank. Retrieved 21 March 2020.
^"GINI index (World Bank estimate) - Mongolia". data.worldbank.org. World Bank. Retrieved 21 March 2020.
^"Human Development Index (HDI)". hdr.undp.org. HDRO (Human Development Report Office) United Nations Development Programme. Retrieved 11 December 2019.
^"Inequality-adjusted Human Development Index (IHDI)". hdr.undp.org. HDRO (Human Development Report Office) United Nations Development Programme. Archived from the original on 12 December 2020. Retrieved 11 December 2019.
^"UNEMPLOYMENT RATE, sex, region, aimag and the Capital, by quarter, annual". 1212.mn. National Statistics Office of Mongolia. Retrieved 3 February 2020.
^"Unemployment, youth total (% of total labor force ages 15-24) (national estimate) - Mongolia". data.worldbank.org. World Bank. Retrieved 3 February 2020.
^"Mongolia trade balance, exports, imports by country 2020 | WITS Data". WITS, World Integrate Trade Solution.
^"Mongolia trade balance, exports, imports by country 2020 | WITS Data". WITS, World Integrate Trade Solution.
^"Sovereigns rating list". Standard & Poor's. Retrieved 26 May 2011.
^ abRogers, Simon; Sedghi, Ami (15 April 2011). "How Fitch, Moody's and S&P rate each country's credit rating". The Guardian. Retrieved 31 May 2011.
^Montsame News Agency. Mongolia. 2006, Foreign Service Office of Montsame News Agency, ISBN 99929-0-627-8, p. 72
^philip (23 March 2014). "Mongolia's economic prospects and challenges". East Asia Forum Quarterly: Volume 6, Number 1, 2014. 6 (1): 3–5. Retrieved 10 August 2016.
^Anonymous (2 September 2014). "Mongolia: Economy". Asian Development Bank. Retrieved 10 August 2016.
and 26 Related for: Economy of Mongolia information
The economyofMongolia has traditionally been based on agriculture and livestock. Mongolia also has extensive mineral deposits: copper, coal, molybdenum...
Mongolia is a landlocked country in East Asia, bordered by Russia to the north and China to the south. It covers an area of 1,564,116 square kilometres...
developed citizens. Mongolia is in the process of transitioning from its status as a developing country to a nation with a developing economy. According to...
Second Turkic Khaganates (682–744) and others, ruled the area of present-day Mongolia. The Khitan people, who used a para-Mongolic language, founded...
contains Mongolian script. Without proper rendering support, you may see question marks, boxes, or other symbols instead of text in Mongolian script. Inner...
national economyofMongolia. Mongolia is one of the 29 resource-rich developing countries identified by the International Monetary Fund and exploration of copper...
Ulaanbaatar or the Gobi Gurvansaikhan National Park, in the Umnugobi. The economyofMongolia is expecting "unstoppable" growth as its natural resources are tapped...
number of countries produce cashmere and have improved processing techniques over the years but China and Mongolia are two of the leading producers as of 2019...
anglicized as Ulan Bator, is the capital and most populous city ofMongolia. With a population of 1.6 million, it is the coldest capital city in the world by...
This is a list of regions ofMongolia by Human Development Index as of 2023 with data for the year 2021. "Sub-national HDI - Area Database - Global Data...
policies of the Mongolian government, especially on economic policies. The Mongolianeconomy experienced significant growth because of a large inflow of assistance...
nations. One of the most distinctive aspects ofMongolian culture is its nomadic pastoral economy, which has shaped the traditional way of life for the...
transitioning to a market economy by 1991 with the creation of the stock market and the Government Privatization Committee. Mongolia was previously a vassal...
that historically had a sphere of influence extending to the country. The economyofMongolia is dependent on exploitation of the country's mineral resources...
The economyof India has transitioned from a mixed planned economy to a mixed middle-income developing social market economy with notable public sector...
The president ofMongolia is the executive head of state ofMongolia. The current president is Ukhnaagiin Khürelsükh. Political parties with representation...
the world's largest economy since 2016 when measured by purchasing power parity (PPP). China accounted for 19% of the global economy in 2022 in PPP terms...
Mongolia is divided into 21 provinces or aimags (Mongolian: аймаг) and one provincial municipality. Each aimag is subdivided into several districts. The...
activities. The grey economy is estimated to be at least one-third the size of the official economy. As of 2006[update], 68.4% ofMongolia's exports went to...
Mongolia is a landlocked country in East Asia, located between China and Russia. The terrain is one of mountains and rolling plateaus, with a high degree...
The Mongolian Armed Forces (Mongolian: Монгол Улсын Зэвсэгт Хүчин; Mongol Ulsyn zevsegt hüchin) is the collective name for the Mongolian military and the...
stability of the Mongolian tögrög. Within its main objective the Bank ofMongolia promotes balanced and sustained development of the national economy, through...
contains Mongolian script. Without proper rendering support, you may see question marks, boxes, or other symbols instead of text in Mongolian script. Mongolian...