Key Facts

GDP (ppp) per CAPITA

$3,200 (2008 est.)

Inflation Rate

28% (2008 est.)

Population

3,041,142 (July 2009 est.)

Country Risk Ratings

D

Ease of Doing Business

58/181

Global Competitiveness

3.65/134

Country Map

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gE Network

There are 6 members in the
gE Network for this country.

Mongolia : Introduction

The Mongols gained fame in the 13th century when under Chinggis KHAN they conquered a huge Eurasian empire. After his death the empire was divided into several powerful Mongol states, but these broke apart in the 14th century. The Mongols eventually retired to their original steppe homelands and in the late 17th century came under Chinese rule. Mongolia won its independence in 1921 with Soviet backing. A Communist regime was installed in 1924. Following a peaceful democratic revolution, the ex-Communist Mongolian People's Revolutionary Party (MPRP) won elections in 1990 and 1992, but was defeated by the Democratic Union Coalition (DUC) in the 1996 parliamentary election. Since then, parliamentary elections returned the MPRP overwhelmingly to power in 2000, but 2004 elections reduced MPRP representation and, therefore, its authority.

Mongolia: Bank of Mongolia

The Bank of Mongolia focuses on stability of the Mongolian national currency and promoting balanced and sustained development of the national economy. It aims to create a monetary and financial environment favorable for sustainable growth of Gross Domestic Product. Available in English and Mongolian.

Mongolia: Mongolia Stock Exchange

Sources:
CIA World Factbook (September 2009)
U.S. Dept. of State Country Background Notes (August 2009)