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ECON FACTBOOK

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Economy of Mongolia

Population: 2.8 million in 20131

GDP: $11.5 billion in 20132

GDP per capita: $4,056 nominal3 ($9,433 PPP4) in 2013

GDP growth rate: 11.7% in 20135

Industries

GDP by Industry 20126

Industry sectorValue added ($ millions) 2012Percent of total
Mining and utilities2,03927.4%
Other activities1,93225.9%
Agriculture, hunting, forestry, fishing1,07914.5%
Wholesale, retail trade, restaurants and hotels88111.8%
Transport, storage and communication85411.5%
Manufacturing5267.1%
Construction1371.8%
Total value added7,447100%

Employment

Unemployment rate: 4.9% in 20137

Employment by Industry 20118

Employment sectorPercent of total
Services56%
Industry33%
Agriculture11%
Total100%

Corporations

Top 10 Corporations by Revenue 20139

N/A

Households

Household Wealth: $27 billion (234% of GDP) in 201410

Household Wealth per Adult: $14,166 in 201410

Gini Coefficient: .365 in 201311

Government

Central Government

Central Government Revenue: $3.5 billion (30% of GDP) in 201312

Central Government Expenditure: $4.3 billion (37% of GDP) in 201312

Central Government Budget Balance: +$0.8 billion (-7% of GDP) in 201312

Central Government Public Debt: N/A

Central Government 10 Year Bond Interest Rate: 5.13% in Nov 201213

Government Funds

Tax Structure

Individual Income Tax Rates and Thresholds: N/A

Corporate Tax Rate: 25% in 201414

Monetary Policy

Money Supply (M1): $925 million (8% of GDP) in Dec 2014* 15

Benchmark Interest Rate: Policy Rate = 13.0% in Feb 201516

Total Reserves: $2.2 billion (19% of GDP) in 201317

Exchange Rate: 1,963 Mongolian Tughrik = 1 U.S. Dollar on Feb 17, 201318

Inflation: 9.2% in 201319

* Money supply calculated using the exchange rate 1,963 MNT = 1 USD

Financial Institutions

Top 10 Financial Institutions by Assets 201320

N/A (data not available at Relbanks.com)

International Accounts

Exports: $4.3 billion (37% of GDP) in 201321

Imports: $5.7 billion (49% of GDP) in 201321

Trade Balance: -$1.4 billion (-12% of GDP) in 201321

Foreign Direct Investment Inflow: $2.1 billion (18% of GDP) in 201322

Foreign Direct Investment Outflow: N/A

Foreign Aid Inflow: $449 million (4% of GDP) in 201223

Foreign Aid Outflow: N/A

References

1. Source: World Bank Indicators (Population) Go back
2. Source: World Bank Indicators (GDP) Go back
3. Source: World Bank Indicators (GDP per capita) Go back
4. Source: World Bank Indicators (GDP per capita PPP) Go back
5. Source: World Bank Indicators (GDP growth rate) Go back
6. Source: United Nations Statistics Division (GDP by industry) Go back
7. Source: World Bank Indicators (Unemployment rate) Go back
8. Source: CIA World Factbook (Employment by economic activity) Go back
9. Source: Annual reports (Corporate data) Go back
10. Source: Credit Suisse Global Wealth Databook (Household wealth) Go back
11. Source: UN Human Development Report (Gini coefficient) Go back
12. Source: CIA World Factbook (Government budget) Go back
13. Source: Wall Street Journal (Government bond yield) Go back
14. Source: Tax Foundation (Corporate tax rate) Go back
15. Source: Bank of Mongolia, Monetary Indicators (Money supply) Go back
16. Source: Bank of Mongolia (Benchmark interest rate) Go back
17. Source: World Bank Indicators (Total reserves) Go back
18. Source: xe.com (Exchange rate) Go back
19. Source: World Bank Indicators (Inflation rate) Go back
20. Source: Relbanks.com (Financial institutions by assets) Go back
21. Source: CIA World Factbook (Trade data) Go back
22. Source: World Bank Indicators (FDI data) Go back
23. Source: World Bank Indicators (Aid data) Go back