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Mongolia

Headline economic indicators for Mongolia, with the most recent official readings.

Prices

Prices — Mongolia
Indicator Value Change
Inflation rate · 8.6% +2.41 (+38.8%)
Consumer price index · 319.5 +25.31 (+8.6%)
GDP deflator inflation · 4.4% -4.58 (-51.2%)

GDP

GDP — Mongolia
Indicator Value Change
GDP growth rate · 6.8% +1.72 (+33.6%)
GDP per capita · 7,108.23 +357.60 (+5.3%)
GDP per capita, long-run history · 13,443 +450.74 (+3.5%)
GDP · 25,369,107,325.45 +1,574,567,301 (+6.6%)
GDP, PPP · 74,226,766,695 +6,647,664,477 (+9.8%)
GDP per capita, PPP · 20,798 +1,625 (+8.5%)
GDP per capita growth · 5.5% +1.70 (+44.5%)
GNI per capita · 6,210 +830.00 (+15.4%)
Agriculture to GDP · 8.9% +1.65 (+22.6%)
Industry to GDP · 37.2% -0.89 (-2.3%)
Manufacturing to GDP · 5.9% +0.30 (+5.4%)
Services to GDP · 44.3% +0.00 (+0.0%)
Household consumption to GDP · 51.5% +2.05 (+4.2%)
Gross capital formation to GDP · 31.4% -4.13 (-11.6%)
Gross savings to GDP · 23.9% -1.74 (-6.8%)

Labour

Labour — Mongolia
Indicator Value Change
Unemployment rate · 5.2% +0.07 (+1.5%)
Labour force participation rate · 59.7% -0.62 (-1.0%)
Female labour force participation rate · 51.5% -0.64 (-1.2%)
Youth unemployment rate · 11.7% +0.17 (+1.5%)
Employment to population ratio · 56.6% -0.64 (-1.1%)
Employment in agriculture · 27.0% -0.26 (-0.9%)
Employment in industry · 23.1% +0.16 (+0.7%)
Employment in services · 49.9% +0.10 (+0.2%)

Money

Money — Mongolia
Indicator Value Change
Real interest rate · 1.4% -11.36 (-89.1%)
Broad money to GDP · 53.7% +0.24 (+0.4%)
Private sector credit to GDP · 44.9% +6.29 (+16.3%)
Lending rate · 16.0% -0.92 (-5.5%)
Bank deposit rate · 6.6% -3.66 (-35.7%)
Bank nonperforming loans · 3.5% -0.07 (-2.1%)
Official exchange rate · 3,545.14 +155.16 (+4.6%)

Trade

Trade — Mongolia
Indicator Value Change
Current account to GDP · -8.4% +2.09 (+20.0%)
Exports to GDP · 68.1% -0.65 (-0.9%)
Imports to GDP · 62.6% -7.09 (-10.2%)
Trade to GDP · 130.7% -7.74 (-5.6%)
Exports of goods and services · 17,268,519,883.69 +917,729,865 (+5.6%)
Imports of goods and services · 15,890,791,058.59 -701,573,911 (-4.2%)
Trade balance, goods and services (annual) · 1,122,699,374.98 +1,358,438,892 (+576.2%)
Current account balance (annual) · -2,119,956,356.83 +365,478,164 (+14.7%)
Foreign direct investment to GDP · 10.8% -0.87 (-7.5%)
Remittances received to GDP · 2.2% -0.02 (-0.9%)
Total reserves, including gold · 7,004,095,384.43 +1,496,151,354 (+27.2%)
Reserves in months of imports · 4.2 +0.82 (+24.5%)
External debt to GNI · 181.9% -11.77 (-6.1%)

Government

Government — Mongolia
Indicator Value Change
Government debt to GDP · 43.3% -24.23 (-35.9%)
Government revenue to GDP · 31.6% +2.68 (+9.2%)
Government expense to GDP · 31.7% -1.48 (-4.5%)
Tax revenue to GDP · 16.9% +2.56 (+17.9%)
Government budget balance to GDP · 1.8% -0.45 (-20.0%)
Government consumption to GDP · 14.6% -0.86 (-5.5%)
Education spending to GDP · 5.2% +1.55 (+42.5%)
Health spending to GDP · 6.1% -2.78 (-31.4%)

Demography

Demography — Mongolia
Indicator Value Change
Population · 3,568,978 +44,190 (+1.3%)
Population, long-run history · 3,333 +49.62 (+1.5%)
Population growth · 1.2% -0.00 (-0.0%)
Life expectancy · 72.4 +0.28 (+0.4%)
Fertility rate · 2.50 -0.20 (-7.4%)
Birth rate · 16.9 -2.10 (-11.1%)
Death rate · 5.5 +0.00 (+0.0%)
Urban population share · 71.1% +0.19 (+0.3%)
Population aged 65 and over · 5.4% +0.29 (+5.7%)
Under-five mortality rate · 13.4 -0.20 (-1.5%)
Population density · 2.3 +0.03 (+1.3%)
Net migration · 79 -4.00 (-4.8%)
Gini index · 31.4 -1.30 (-4.0%)

Source: Bolt, J. and van Zanden, J.L. (2024), Maddison style estimates of the evolution of the world economy: A new 2023 update, Journal of Economic Surveys, 1-41, DOI 10.1111/joes.12618. Licensed under CC BY 4.0. The original sources are listed on each page.

All data sources

Original sources of these estimates

GDP pc: 2008 - 2022: Total Economy Database the Conference Board for all countries included in TED. Otherwise UN national accounts statistics

No separate list is published for Mongolia; the database as a whole is cited above.

Economies nearby

Comparable readings from neighbouring economies.