Mongolia: Economy

Economic Trivia

Trade with China represents more than half of Mongolia's total external trade - China receives more than 90% of Mongolia's exports.

Trade Source: United Nations Comtrade
Note: Top 3 trade partners are calculated by imports + exports.

Top 3 Trade Partners (2015): China, Russia, and United Kingdom
Top 3 Exported Goods (2015): Ores, Oil & Mineral Fuels, and Precious Stones & Metals

Top Industries Source: CIA World Factbook

Construction and Construction Materials; Mining (Coal, Copper, Molybdenum, Fluorspar, Tin, Tungsten, Gold); Oil; Food and Beverages

Gross Domestic Product (GDP) Source: The World Bank

GDP, PPP (current international) $36,067,684,621 (2015)
GDP Growth Rate (annual %) 2.295% (2015)
GDP Per Capita, PPP (current international) $12,189 (2015)
Click on a row to display its 5-year graph on the right.

GDP Country Rank 115/193 (2015)

Economic Indicators Source: The World Bank

Inflation, consumer prices (annual %) 5.776% (2015)
External debt stocks, total (DOD, current US$) $20,826,128,000 (2014)
Total tax rate (% of commercial profits) 24.4% (2015)
Real Interest Rate (5 year average %) 17.346% (2015)
Manufacturing, value added (% of GDP) 9.094% (2015)
Current Account Balance (BoP, current US$) ($537,710,637) (2015)
Click on a row to display its 5-year graph on the right.

Labor and Employment Source: The World Bank

Labor Force, Total 1,328,054 (2014)
Employment in Agriculture (% of total employment) 35% (2012)
Employment in Industry (% of total employment) 18.2% (2012)
Employment in Services (% of total employment) 46.8% (2012)
Unemployment Rate 4.8% (2014)
Click on a row to display its 5-year graph on the right.
Imports of goods and services (current US$) $4,943,380,775 (2015)
Exports of goods and services (current US$) $5,283,663,938 (2015)
Total Merchandise Trade (% of GDP) 91.638% (2014)
FDI, net inflows (BoP, current US$) $196,460,806 (2015)
Commercial Service Exports (current US$) $572,640,158 (2014)
Click on a row to display its 5-year graph on the right.

How to interpret the graph: The purpose of this graph is to take a snapshot of a country’s economy in comparison to other economies. For example, Mongolia’s Exports rank is higher than (please wait...) of the countries in the dataset. For Exports, FDI and GDP measures, a higher rank (closer to 100%) indicates a stronger economy. Conversely, for Unemployment and Inflation, a lower rank (closer to 0%) indicates a stronger economy.

Due to unavailable data the following indicators have been omitted:
  • Exports
  • FDI, net inflows
  • GDP Growth Rate
  • GDP Per Capita
  • Inflation
  • Unemployment

Glossary