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 (2021): China, Russia, and Switzerland
Top 3 Exported Goods (2021): 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) [1]

GDP, PPP (current international) $48,359,541,883 (2022)
GDP Growth Rate (annual %) 4.846% (2022)
GDP Per Capita, PPP (current international) $14,230 (2022)
Click on a row to display its 5-year graph on the right.

GDP Country Rank 121/197 (2022)

GDP Composition %

Note: GDP composition percentage may exceed 100. Manufacturing is included in the Industry figures and is also reported separately because it plays a critical role in many economies.

Economic Indicators [1]

Inflation, consumer prices (annual %) 15.148% (2022)
External debt stocks, total (DOD, current US$) $33,940,299,645 (2021)
Total tax rate (% of commercial profits) 25.7% (2019)
Real Interest Rate (5 year average %) 1.387% (2021)
Manufacturing, value added (% of GDP) 7.152% (2022)
Current Account Balance (BoP, current US$) ($2,303,498,986) (2022)
Click on a row to display its 5-year graph on the right.

Labor and Employment [1]

Labor Force, Total 1,363,210 (2022)
Employment in Agriculture (% of total employment) 24.285% (2021)
Employment in Industry (% of total employment) 20.898% (2021)
Employment in Services (% of total employment) 54.816% (2021)
Unemployment Rate 8.247% (2022)
Click on a row to display its 5-year graph on the right.

Trade [1]

Imports of goods and services (current US$) $12,651,750,744 (2022)
Exports of goods and services (current US$) $11,715,680,441 (2022)
Total Merchandise Trade (% of GDP) 126.371% (2022)
FDI, net inflows (BoP, current US$) $2,504,294,750 (2022)
Commercial Service Exports (current US$) $1,132,411,176 (2022)
Click on a row to display its 5-year graph on the right.

Economic Snapshot [1]

Note: Percentile ranks are calculated using the latest available data for all countries within the last 5 years.

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


  1. The World Bank