Mongolia: Economy
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Income Level (by per capita GNI) Source: The World Bank Possible values: High Income, Upper Middle Income, Lower Middle Income and Low Income |
Upper Middle Income |
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Level of Development
Source: United Nations Possible values: Developed, In Transition and Developing |
Data Unavailable |
| Economic Trivia | Trade with China represents more than half of Mongolia's total external trade - China receives more than 90% of Mongolia's exports. |
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Trade
Source: United Nations Comtrade Note: Top 3 trade partners are calculated by imports + exports. |
Top 3 Trade Partners (2016): China, Russia, and United Kingdom |
| 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) | $37,092,519,480 (2016) |
| GDP Growth Rate (annual %) | 1.243% (2016) |
| GDP Per Capita, PPP (current international) | $12,252 (2016) |
GDP Country Rank 118/195 (2016)
Economic Indicators [1]
| Inflation, consumer prices (annual %) | 0.554% (2016) |
| External debt stocks, total (DOD, current US$) | $23,912,336,000 (2016) |
| Total tax rate (% of commercial profits) | 24.7% (2017) |
| Real Interest Rate (5 year average %) | 17.252% (2016) |
| Manufacturing, value added (% of GDP) | 7.909% (2016) |
| Current Account Balance (BoP, current US$) | ($699,671,011) (2016) |
Labor and Employment [1]
| Labor Force, Total | 1,283,503 (2017) |
| Employment in Agriculture (% of total employment) | 30.422% (2017) |
| Employment in Industry (% of total employment) | 19.03% (2017) |
| Employment in Services (% of total employment) | 50.548% (2017) |
| Unemployment Rate | 6.959% (2017) |
Trade [1]
| Imports of goods and services (current US$) | $5,079,946,823 (2016) |
| Exports of goods and services (current US$) | $5,615,847,874 (2016) |
| Total Merchandise Trade (% of GDP) | 73.995% (2016) |
| FDI, net inflows (BoP, current US$) | ($4,156,404,704) (2016) |
| Commercial Service Exports (current US$) | $797,904,645 (2016) |
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.