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Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Mongolia economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of Mongolia best banks and safest banks are also available.
Mongolia, which has been growing at double-digit rates since the short recession that followed the global financial crisis, is struggling to find the right path in making use of abundant resources to improve the lives of its citizens, while providing a stable and fair business environment for investors.
USD 3.5 billion (2018)
International Monetary Fund (IMF), data retrieved October 2019
| 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 |
| 8.8% | 7.8% | -2.1% | 7.3% | 17.3% | 12.3% | 11.6% |
| 2014 | 2015 | 2016* | 2017* | 2018* | ||
| 7.9% | 2.4% | 1.2% | 5.3% | 6.9% |
*Estimate
| 1980 | 1990 | 2000 | 2010 | 2019* |
| 0.02% | 0.02% | 0.02% | 0.02% | 0.03% |
*Estimate
(2018 estimate)
| 2015 | 2016 | 2017* | 2018* | 2019* |
| 5.9% | 0.5% | 4.6% | 7.7% | 9% |
*Estimate
| 2015* | 2016* | 2017* | 2018* | 2019* |
| 7.5% | 10% | 10% | 10% | 9% |
*Estimate
| 2015 | 2016 | 2017 | 2018 | 2019 |
| N/A | N/A | N/A | N/A | N/A |
*Estimate
| 2015 | 2016 | 2017 | 2018* | 2019* |
| -5% | -15.3% | -3.8% | 2.6% | 0.6% |
*Estimate
Standard & Poor's: B
Moody's: B3
Standard & Poor's / Moody's
| 2016 | 2017 | 2018 |
| N/A | N/A | N/A |
-17.0 % (2018 estimate)
60.3% (2018)
0.04% (2018)
0.02% (2018)
Copper, apparel, livestock, animal products, cashmere, wool, hides, fluorspar, other nonferrous metals, coal, crude oil
Machinery and equipment, fuel, cars, food products, industrial consumer goods, chemicals, building materials, cigarettes and tobacco, appliances, soap and detergent
China 85%, UK 10.7% (2017)
China 32.6%, Russia 28.1%, Japan 8.4%, US 4.8%, South Korea 4.6% (2017)
| 2016 | 2017 | 2018 |
| USD -4,156 million | USD 1,494 million | USD 2,174 million |
| 2016 | 2017 | 2018 |
| USD 14 million | USD 49 million | USD 37 million |
| 2015 | 2016 | 2017 | 2018 |
| N/A | N/A | N/A | N/A |
N/A
N/A
Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm.
Overall ranking:
81 out of 190 countries
Subcategories:
Starting a Business: 100 out of 190 countries
Dealing with Construction Permits: 29 out of 190 countries
Getting Electricity: 152 out of 190 countries
Registering Property: 50 out of 190 countries
Getting Credit: 25 out of 190 countries
Protecting Minority Investors: 25 out of 190 countries
Paying Taxes: 71 out of 190 countries
Trading across Borders: 143 out of 190 countries
Enforcing Contracts: 75 out of 190 countries
Resolving Insolvency: 150 out of 190 countries
102 out of 141 countries
(2019)
Ranking: 126 / Score: 55.4 (Mostly unfree)
(100=totally free 0=totally repressed)
Mongolian 90% (official) (Khalkha dialect is predominant), Turkic, Russian (1999)
Buddhist 53%, Muslim 3%, Shamanist 2.9%, Christian 2.2%, other 0.4%, none 38.6% (2010 est.)
| 1990 | 2000 | 2010 | 2015* | 2020* |
| 2.08 million | 2.4 million | 2.76 million | 3.06 million | 3.36 million |
*Estimate
| 1960 | 1980 | 2000 | 2018 |
| 35.7% | 52.1% | 57.1% | 68.4% |
Total population: 98.4%
Male: 98.2%
Female: 98.6%
Definition: age 15 and over can read and write (2015 est.)
6.9% (last available estimate, 2016)
32.3 (last available estimate, 2016)
(0=perfect equality, 100=absolute inequality)
Free
Political Rights: 1
Civil Liberties: 2 (2019)
(1 represents the most free, 7 the least free rating)
Fixed: 11.7% Mobile: 133.2% (2018)
(fixed-telephone subscribers and mobile-cellular subscribers)