Mongolia


Mongolia Country Report: GDP data and GDP forecasts; economic, financial and trade information; the best banks in Mongolia; country and population overview

DATA ON GDP AND ECONOMIC INFORMATION
Central bank Bank of Mongolia
International Reserves US$ 2.448 billion (Source: IMF; Data updated: 2012)
Gross Domestic Product - GDP US$ 10.92 billion (2010 estimate)
GDP (Purchasing Power Parity) 15.746 billion of International dollars (2010 estimate)
Real GDP growth
2001 2002 2003 2004 2005 2006 2007 2008
0.2% 4.7% 7% 10.6% 7.3% 8.6% 10.2% 8.9%
2009 2010 2011 2012*
-1.3% 6.4% 17.3% 17.2%

*Estimate

GDP per capita - current prices US$ 3,848 (2009 estimate)
GDP per capita - PPP $5,548 International Dollars (2009 estimate)
GDP (PPP) - share of world total
1980 1990 2000 2010 2015**
0.01% 0.02% 0.01% 0.02% 0.02%

**Forecast

GDP - composition by sector
  • agriculture: 18.1% 
  • industry: 36.2% 
  • services: 45.7% (2011 estimate)
  • (Data released on February 2012)

Gross domestic expenditure on R&D (% of GDP) N/A

(Data released on March 2012)

Inflation
2009 2010 2011 2012*
6.3%(2008) 10.2% 9.5% 13.6%

*Estimate

Unemployment rate
2009 2010 2011 2012*
3.3% 3.3% 3%(2009) 3%

*Estimate

Household saving rates N/A

(Data released on December 2011)

Public debt (General government gross debt as a % of GDP)
2008 2009 2010 2011 2012*
N/A N/A N/A N/A N/A

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)
2008 2009 2010 2011* 2012**
-4.5% -5% 1.2% -3.6% -7.3%

*Estimate    **Forecast

Government bond ratings

Standard & Poor's: BB-

Moody's rating: B1

Moody's outlook: STA

(Foreign Currency Government Bond Ratings; Data last updated Dec 2011 and Nov 2012)

Market value of publicly traded shares
2009 2010 2011
US$430.2 million US$1.093 billion US$1.579 billion
Largest companies in Mongolia N/A
DATA ON TRADE AND COMPETITIVENESS
Current account balance US$ -2.7 billion (2010 estimate)(After 2008)
Current account balance by percentage of GDP -24.4% of GDP (2010 estimate)(2009)
Exports as percent of GDP

(Exports of goods and services)

54.7% (2010)

(Data released on April 2012)

Shares in world total merchandising export 0.03%(2007)

(Data were released in 2012 and refer to 2011)

Shares in world total commercial services export 0.01% (2011)(2007)

(Data were released in 2012)

Total exports US$4.385 billion (2011 estimate) 
Export commodities copper, apparel, livestock, animal products, cashmere, wool, hides, fluorspar, other nonferrous metals, coal, crude oil
Total imports US$6.739 billion (2012 estimate) 
Import commodities machinery and equipment, fuel, cars, food products, industrial consumer goods, chemicals, building materials, cigarettes and tobacco, appliances, soap and detergent
Exports - major partners China 92.1%, Russia 2%, Canada 1.9% (2011 estimate)
Imports - major partners China 30.7%, Russia 24.5%, US 8.1%, Japan 7.4%, South Korea 5.5% (2011 estimate)
FDI inflows
2009 2010 2011
US$624 million US$1,691 million(2009) US$4,715 million(2009)
FDI outflows
2009 2010 2011
US$54 million US$62 million US$94 million
Value of cross-border M&A, by country of purchaser
2008 2009 2010 2011
US$106 million US$-24 million(2009) N/A(2009) N/A
Cross-border M&A deals worth over $3 billion completed in 2010

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A

(for a monthly update on M&A click here )

Cross-border M&A deals worth over $3 billion completed in 2011

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A(2008 estimate)

(for a monthly update on M&A click here )

Best countries for doing business

World Bank/IFC Doing Business Project

(Economies are ranked on their ease of doing business, from 1 - 185. A high ranking means the regulatory environment is more conducive to the starting and operation of a local firm.)

Overall ranking: 76 out of 185 countries(2009) (2013)

Subcategories:

Starting a business: 39 out of 185 countries(2009)

Enforcing Contracts: 29 out of 185 countries

Registering Property: 22 out of 185 countries

Getting credit: 53 out of 185 countries

Protecting investors: 25 out of 185 countries

Trading across border: 175 out of 185 countries

Paying Taxes: 70 out of 185 countries

Dealing with Construction Permits: 121 out of 185 countries

Getting Electricity: 169 out of 185 countries

Resolving Insolvency: 127 out of 185 countries

(2013)

Global competitiveness ranking
(ranking by country on a basis of 144, the first is the best)
93

(2012)

Index of Economic Freedom

WSJ and Heritage Foundation

Ranking: 81 Score: 61.5 (Moderately Free) (2009)

(100=totally free 0=totally repressed )

COUNTRY AND POPULATION OVERVIEW
Time zone UTC+8
Total area 1,564,100 km2 (2006)
Capital Ulaanbaatar (2009)
Currency togrog/tugriks (MNT) (2009)
Government type parliamentary (2009)
Languages Khalkha Mongol 90%, Turkic, Russian (1999)
Religions Buddhist Lamaist 50%, Shamanist and Christian 6%, Muslim 4%, none 40% (2004)
Total population
1980 1990 2000 2012* 2017**
N/A 2.07 million 2.39 million 2.83 million 3.05 million

*Estimate    **Forecast

Urban population as % of total population
1960 1980 2000 2011
35.7% 52.1% 56.6% 68.5%
Population median age 25 years (2010)
Population growth rate 1.6% (2011)
Life expectancy 68 years (2010)
Adult literacy 97% (2005/2010)
% of population living on less than $2 a day 49.05% (2011)
Inequality of wealth distribution (Gini index)

36.52 (2008)

(Data were released in 2011, 0=perfect equality, 100=absolute inequality)

Freedom House rating

Political Rights:2
Civil Liberties:2 (2011)

(1 represents the most free, 7 the least free)

Total telephone subscribers as % of population

111.78% (2011)

(sum of fixed telephone lines and mobile cellular subscribers)

Internet users as % of total population 20% (Data were released in 2012 and refer to 2011)
Cost of living - Mercer index

(ranking by city on a basis of 214; the 1st is the most expensive and the 214th is the least expensive)

N/A

CO2 emissions
(Metric tons of CO2 per capita)

5.3484 (Data were released in 2012 and refer to 2009)

GLOBAL FINANCE RANKINGS AND AWARDS

WORLD'S BEST TRADE FINANCE BANKS & PROVIDERS

2013:
  • COUNTRY WINNERS Capital Bank (National, 2013)

WORLD'S BEST EMERGING MARKET BANKS

2012:
  • COUNTRY WINNERS Golomt Bank (Global, 2012)
2011:
  • COUNTRY WINNERS Khan Bank (Western Europe, 2011)
2010:
  • COUNTRY WINNERS Khan Bank (National, 2010)
2009:
  • COUNTRY WINNERS Khan Bank (National, 2009)

WORLD'S BEST INVESTMENT BANKS

2013:
  • COUNTRY WINNERS Optima Capital (National, 2013)
2012:
  • COUNTRY WINNERS Eurasia Capital (Global, 2012)
ARTICLES AND COUNTRIES REPORTS FROM GLOBAL FINANCE ARCHIVE