Currency | Mongolian tögrög (MNT, ₮) |
---|---|
Calendar year | |
Trade organizations | WTO, IMF, World Bank, ADB, SCO (Observer) |
Country group |
|
Statistics | |
Population | ![]() |
GDP | |
GDP rank | |
GDP growth |
|
GDP per capita | |
GDP per capita rank | |
GDP by sector |
|
10% (202e est.)[5] | |
Population below poverty line | |
32.7 medium (2018)[10] | |
Labor force by occupation |
|
Unemployment | |
Main industries | construction and construction materials, mining (coal, copper, molybdenum, fluorspar, tin, tungsten, and gold), oil, food and beverages, processing of animal products, cashmere wool and natural fiber manufacturing |
External | |
Exports | ![]() |
Export goods | copper, apparel, livestock, animal products, cashmere, wool, hides, fluorspar, other nonferrous metals, coal, crude oil |
Main export partners |
|
Imports | ![]() |
Import goods | machinery and equipment, fuel, cars, food products, industrial consumer goods, chemicals, building materials, cigarettes and tobacco, appliances, soap and detergent |
Main import partners |
|
FDI stock | |
![]() | |
Gross external debt | ![]() |
Public finances | |
![]() | |
−6.4% (of GDP) (2017 est.)[7] | |
Revenues | 2.967 billion (2017 est.)[7] |
Expenses | 3.681 billion (2017 est.)[7] |
Economic aid | $185.94 million (2008) |
Standard & Poor's:[17] BB- (Domestic) BB- (Foreign) BB (T&C Assessment) Outlook: Stable[18] Moody's: B1 Outlook: Stable Fitch:[18] B+ Outlook: Stable | |
![]() | |
All values, unless otherwise stated, are in US dollars. |
The economy of Mongolia has traditionally been based on agriculture and livestock. Mongolia also has extensive mineral deposits: copper, coal, molybdenum, tin, tungsten, and gold account for a large part of industrial production. Soviet assistance, at its height one-third of Gross domestic product (GDP), disappeared almost overnight in 1990–91, in the time of the collapse of the Soviet Union. Mongolia was driven into deep recession.
Economic growth picked up in 1997–99 after stalling in 1996 due to a series of natural disasters and increases in world prices of copper and cashmere. Public revenues and exports collapsed in 1998 and 1999 due to the repercussions of the Asian financial crisis. In August and September 1999, the economy suffered from a temporary Russian ban on exports of oil and oil products. Mongolia joined the World Trade Organization (WTO) in 1997.[19] The international donor community pledged over $300 million per year in the last Consultative Group Meeting, held in Ulaanbaatar in June 1999. Recently, the Mongolian economy has grown at a fast pace due to an increase in mining and Mongolia attained a GDP growth rate of 11.7% in 2013.[20] However, because much of this growth is export-based, Mongolia is suffering from the global slowdown in mining caused by decreased growth in China.[21]
{{cite book}}
: |website=
ignored (help)
© MMXXIII Rich X Search. We shall prevail. All rights reserved. Rich X Search