Economy ofMongolia
Vue d'Oulan-Bator.jpg
Ulaanbaatar
CurrencyMongolian tögrög (MNT, ₮)
Fiscal year
Calendar year
Trade organizations
WTO, IMF, World Bank, ADB, SCO (Observer)
Country group
  • Developing/Emerging
  • Lower-middle income economy
Statistics
PopulationIncrease 3,170,208 (2018)
GDP
  • Increase $14.233 billion (nominal, 2021 est.)
  • Decrease $42.412 billion (PPP, 2021)
GDP rank
  • 132th (nominal, 2021)
  • 122th (PPP, 2021)
GDP growth
  • 6.9% (2018) 4.8% (2019e)
  • −0.5% (2020f) 4.9% (2021f)
GDP per capita
  • Increase $4,172 (nominal, 2021 est.)
  • Decrease $12,431 (PPP, 2021 est.)
GDP per capita rank
  • 106th (nominal, 2021)
  • 100th (PPP, 2021)
GDP by sector
  • agriculture: 12.1%
  • industry: 38.2%
  • services: 49.7%
  • (2017 est.)
Inflation (CPI)
14.3% (2022 est.)
Population belowpoverty line
  • 28.4% (2018)
  • 5.6% on less than $3.20 (2018)
Gini coefficient
32.7medium(2018)
Human Development Index
  • Increase 0.735high(2018) (92nd)
  • 0.635mediumIHDI (2018)
Labor force by occupation
  • agriculture: 31.1%
  • industry: 18.5%
  • services: 50.5%
  • (2016)
Unemployment
  • Positive decrease 6.3% (2020 est.)
  • Positive decrease 9.9% (Q3, 2019)
  • Positive decrease 16.8% youth unemployment (2018)
Main industries
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
Ease-of-doing-business rank
Decrease 81st (easy, 2020)
External
ExportsIncrease $5.834 billion (2017 est.)
Export goods
copper, apparel, livestock, animal products, cashmere, wool, hides, fluorspar, other nonferrous metals, coal, crude oil
Main export partners
  •  China(+) 85%
  •  United Kingdom(+) 10.7%
  • (2017)
ImportsIncrease $4.345 billion (2017 est.)
Import goods
machinery and equipment, fuel, cars, food products, industrial consumer goods, chemicals, building materials, cigarettes and tobacco, appliances, soap and detergent
Main import partners
  •  China(+) 32.6%
  •  Russia(+) 28.1%
  •  Japan(+) 8.4%
  •  United States(+) 4.8%
  •  South Korea(+) 4.6%
  • (2017)
FDI stock
  • Increase $18.02 billion (31 December 2017 est.)
  • Increase Abroad: $495 million (31 December 2017 est.)
Current account
Decrease −$1.155 billion (2017 est.)
Grossexternal debt
Negative increase $25.33 billion (31 December 2017 est.)
Public finances
Public debt
Negative increase 91.4% of GDP (2017 est.)
Budget balance
−6.4% (of GDP) (2017 est.)
Revenues2.967 billion (2017 est.)
Expenses3.681 billion (2017 est.)
Economic aid$185.94 million (2008)
Credit rating
Standard & Poor's:
BB- (Domestic)
BB- (Foreign)
BB (T&C Assessment)
Outlook: Stable
Moody's:
B1
Outlook: Stable
Fitch:
B+
Outlook: Stable
Foreign reserves
Increase $3.016 billion (31 December 2017 est.)
Main data source:CIA World Fact Book
All values, unless otherwise stated, are in US dollars.