Mongolia

Description of Mongolia

Welcome to our website dedicated to analyzing the economic and geopolitical landscape of Mongolia. As a country nestled between two global superpowers, Russia and China, Mongolia plays a pivotal role in regional dynamics and holds immense potential for economic growth and development. Through a macroeconomic lens, we will delve into key statistics and trends that shape Mongolia's trajectory, providing unique insights into its opportunities and challenges in the ever-evolving global arena.

Population And Age Structure

Population, total: Mongolia's population of 3,294,335 is significantly below the average population of 40,097,746, ranking 133rd out of 194 countries.
Population ages 0-14 (% of total population): Mongolia's percentage of population ages 0-14 at 32.20% is above the average of 27.34%, placing it at 64th out of 194 countries.
Population ages 0-14, total: With 1,060,842 individuals in this age group, Mongolia is below the average of 10,327,379, ranking 120th out of 194 countries.
Population ages 15-64 (% of total population): Mongolia's percentage of population ages 15-64 stands at 63.54%, slightly above the average of 63.44%. It ranks 116th out of 194 countries.
Population ages 15-64, total: The total number of individuals aged 15-64 in Mongolia is 2,093,145, significantly below the average of 26,003,407, ranking 133rd out of 194 countries.
Population ages 65 and above (% of total population): Mongolia's population percentage of individuals aged 65 and above is 4.26%, lower than the average of 9.22%. This places Mongolia at 133rd out of 194 countries.
Population ages 65 and above, total: Mongolia's total population of individuals aged 65 and above is 140,348, well below the average of 3,766,959. It ranks 143rd out of 194 countries.

Summary

Mongolia has a relatively small population compared to the global average, with a higher percentage of young individuals under 14 years old and a lower proportion of individuals aged 65 and above. This demographic distribution could impact the country's workforce dynamics, healthcare needs, and overall social welfare provisions, requiring tailored policies to support the different age groups effectively.

Population Miscellaneous

1. Rural population in Mongolia is 1,032,543, significantly below the attribute average of 18,044,041. Mongolia ranks 125 out of 190 countries in this category.

2. The Rural population (% of total population) in Mongolia is 31.34%, below the average of 41.16%. Mongolia ranks 119 out of 190 countries in this category.

3. Mongolia's Urban population stands at 2,261,792, which is below the average of 22,425,747. Mongolia ranks 127 out of 194 countries in this category.

4. The Urban population (% of total population) in Mongolia is 68.66%, above the average of 59.69%. Mongolia ranks 76 out of 194 countries in this category.

5. The Age dependency ratio (% of working-age population) is 57.39% in Mongolia, slightly below the average of 59.22%. Mongolia ranks 79 out of 194 countries in this category.

6. Mongolia has a crude Birth rate of 22.41 per 1,000 people, exceeding the average of 19.38. Mongolia ranks 66 out of 192 countries in this category.

7. With a crude Death rate of 5.48 per 1,000 people, Mongolia falls below the average of 8.21. Mongolia ranks 170 out of 192 countries in this category.

8. Mongolia's total Fertility rate is 2.9 births per woman, slightly above the average of 2.60. Mongolia ranks 62 out of 190 countries in this category.

Summary

In summary, Mongolia has a relatively low rural population compared to the global average, but a higher urban population percentage. Additionally, the country has a slightly lower age dependency ratio and higher birth rate, while maintaining a lower death rate compared to the global average. These indicators suggest that Mongolia may be experiencing urbanization and a growing working-age population, which could impact the country's economic development and social welfare programs in the future.

Military

- Military expenditure (current USD): Mongolia's military expenditure is $112,178,387.65, significantly below the average of $12,904,993,617.17. Mongolia ranks 121 out of 149 countries in this aspect.

- Military expenditure (% of GDP): Mongolia's military expenditure as a percentage of GDP is 0.78%, below the average of 1.90%. Mongolia is ranked 126 out of 148 countries in this category.

- Armed forces personnel, total: Mongolia has 18,000 total armed forces personnel, well below the average of 165,908.54. Mongolia ranks 110 out of 164 countries for this metric.

- Armed forces personnel (% of total labor force): Mongolia's armed forces personnel as a percentage of the total labor force is 1.32%, slightly above the average of 1.28%. Mongolia is ranked 47 out of 164 countries in this parameter.

Summary

Mongolia's military expenditure, both in absolute terms and as a percentage of GDP, is significantly below global averages. This is reflected in the country's relatively small number of total armed forces personnel, though the percentage of armed forces personnel in the total labor force is slightly above the average. These indicators are important as they show Mongolia's prioritization of military spending compared to other countries, potentially impacting its defense capabilities and national security strategies.

Natural Resources

- Mongolia has a Forest area of 141727.8 sq. km, ranking 46 out of 191 countries. The average forest area is 211606.11465968585 sq. km, making Mongolia below average in this attribute.
- With a Land area of 1557506.803 sq. km, Mongolia ranks 18 out of 194 countries, surpassing the average land area of 665166.5119639175 sq. km.
- Mongolia's Surface area is 1564115.749 sq. km, also ranking 18 out of 194 countries. The average surface area is 689779.5605412371 sq. km.
- The Arable land in Mongolia is 1340479.9 hectares, ranking 95 out of 190 countries. This is significantly below the average arable land of 7329543.16368421 hectares.
- Land under cereal production in Mongolia covers 353118 hectares, placing the country at the 108th position out of 174 countries. The average land under cereal production is 4206011.6321839085 hectares.
- Mongolia receives an Average precipitation of 241 mm per year, ranking 158 out of 178 countries. The average precipitation depth is 1157.8320224719102 mm per year.
- The Renewable internal freshwater resources in Mongolia total 34.8 billion cubic meters, placing the country at rank 91 out of 178 countries. The average freshwater resources are 240.4108882022471 billion cubic meters.

Summary

Mongolia is below average in terms of forest area, arable land, and precipitation depth compared to global averages. However, it excels in land area and surface area, ranking above average in these attributes. These indicators are crucial for understanding Mongolia's environmental resources, agricultural potential, and water availability, which are essential for sustainable development and economic planning in the country.

Resource Rents

Total natural resources rents (% of GDP): Mongolia's percentage of total natural resources rents stands at 13.47%, significantly higher than the average of 4.63%. This places Mongolia at a rank of 21 out of 175 countries in the dataset.

Coal rents (% of GDP): Mongolia's coal rents account for 4.44% of GDP, far exceeding the average of 0.40%. This places Mongolia at a rank of 2 out of 65 countries in the dataset.

Forest rents (% of GDP): Mongolia's forest rents make up only 0.21% of GDP, well below the average of 1.53%. This places Mongolia at a rank of 91 out of 174 countries in the dataset.

Oil rents (% of GDP): Mongolia's oil rents contribute 0.57% to GDP, lower than the average of 2.51%. This places Mongolia at a rank of 41 out of 117 countries in the dataset.

Mineral rents (% of GDP): Mongolia's mineral rents represent 8.26% of GDP, significantly higher than the average of 1.23%. This places Mongolia at the top rank, 1 out of 86 countries in the dataset.

Summary

Mongolia's economy heavily relies on natural resources, with high percentages of total natural resources rents, coal rents, and mineral rents compared to global averages. However, the country lags behind in forest rents and oil rents. This indicates the significant contribution of mining activities to Mongolia's GDP, highlighting both the potential economic benefits and the vulnerability to fluctuations in global commodity prices.

Commodities

When looking at Cereal production (metric tons), Mongolia's value of 430,317.92 is significantly below the attribute average of 17,249,945.93 metric tons. Mongolia ranks 122 out of 174 countries in this dataset.

For Capture fisheries production (metric tons), Mongolia's production of 25 metric tons is notably lower than the attribute average of 467,453.06 metric tons. Mongolia ranks 187 out of 190 countries in this dataset.

In terms of Fertilizer consumption (kilograms per hectare of arable land), Mongolia's consumption of 33.21 kilograms per hectare is below the attribute average of 159.04 kilograms per hectare. Mongolia ranks 129 out of 187 countries in this dataset.

Summary

Mongolia's key macroeconomic indicators for cereal production, capture fisheries production, and fertilizer consumption paint a picture of significant underperformance compared to global averages. With low production levels and consumption rates in these crucial sectors, Mongolia faces challenges in achieving food security, economic diversification, and sustainable agricultural practices. Addressing these shortcomings is vital for Mongolia's overall economic development and resilience.

Intellectual Property

Industrial design applications, nonresident, by count: Mongolia's value of 400 is below the average of 1415.83. Mongolia ranks 48 out of 112 countries.

Industrial design applications, resident, by count: Mongolia's value of 617 is well below the average of 9799.58. Mongolia ranks 36 out of 113 countries.

Patent applications, nonresidents: Mongolia's value of 82 is significantly below the average of 6538.40. Mongolia ranks 74 out of 129 countries.

Patent applications, residents: Mongolia's value of 66 is far below the average of 19037.56. Mongolia ranks 75 out of 117 countries.

Trademark applications, nonresident, by count: Mongolia's value of 5100 is notably below the average of 15878.93. Mongolia ranks 68 out of 130 countries.

Trademark applications, resident, by count: Mongolia's value of 13408 is well below the average of 111055.78. Mongolia ranks 42 out of 129 countries.

Scientific and technical journal articles: Mongolia's value of 209.71 is significantly below the average of 15103.76. Mongolia ranks 116 out of 192 countries.

Charges for the use of intellectual property, payments: Mongolia's value of 24,429,073.68 is substantially below the average of 3,218,3494.39. Mongolia ranks 91 out of 143 countries.

Charges for the use of intellectual property, receipts: Mongolia's value of 1,297,734.80 is significantly below the average of 3,191,6871.58. Mongolia ranks 87 out of 122 countries.

Researchers in R&D (per million people): Mongolia's value of 332.19 is below the average of 2556.45. Mongolia ranks 63 out of 72 countries.

Summary

Mongolia lags behind the global average in various key macroeconomic indicators related to intellectual property applications, scientific research, and innovation. This is crucial because these indicators showcase the country's competitiveness, innovative capacity, and potential for economic growth. By improving these metrics, Mongolia can enhance its standing in the global economy, attract investment, and foster technological advancement, ultimately driving long-term sustainable development.

Broad Economy Attributes

Analysis of key economic statistics for Mongolia:

GDP (current US$): Mongolia's GDP is significantly below the average of $442.87 billion, ranking 127th out of 189 countries.

GDP, PPP (current international $): Mongolia's GDP in PPP terms is substantially lower than the average of $734.14 billion, ranking 113th out of 181 countries.

GDP per capita (current US$): Mongolia's GDP per capita is below the average of $15,462.11, ranking 114th out of 190 countries.

GDP per capita, PPP (current international $): Mongolia's GDP per capita in PPP is also lower than the average of $21,251.89, ranking 97th out of 181 countries.

GNI (current US$): Mongolia's GNI falls short of the average of $452.04 billion, ranking 129th out of 185 countries.

GNI, PPP (current international $): Mongolia's GNI in PPP terms is significantly below the average of $730.70 billion, ranking 116th out of 181 countries.

GNI per capita, PPP (current international $): Mongolia's GNI per capita in PPP is below the average of $20,615.75, ranking 102nd out of 181 countries.

Summary

Mongolia's key economic indicators reflect a lower-than-average performance compared to global standards, ranking below the average in GDP, GDP per capita, GNI, and GNI per capita metrics. These statistics are crucial as they highlight Mongolia's position in the global economy, revealing potential areas for improvement and development to enhance the country's economic competitiveness and well-being of its citizens.

Broad Value Added

- Gross value added at basic prices (GVA) for Mongolia is $12,049,180,76.37, significantly below the average of $360,070,943,595.12. Mongolia ranks 121 out of 176 countries in this attribute data.
- Agriculture, forestry, and fishing value added (% of GDP) for Mongolia is 12.97%, above the average of 10.86%. Mongolia ranks 59 out of 182 countries in this attribute data.
- Agriculture, forestry, and fishing value added in current US dollars for Mongolia is $1,726,115,415.80, notably below the average of $19,924,732,828.07. Mongolia ranks 112 out of 182 countries in this attribute data.
- Services value added (% of GDP) for Mongolia is 40.49%, below the average of 56.72%. Mongolia ranks 167 out of 183 countries in this attribute data.
- Services value added in current US dollars for Mongolia is $5,390,486,860.73, significantly below the average of $295,837,711,130.69. Mongolia ranks 135 out of 183 countries in this attribute data.
- Industry (including construction) value added in current US dollars for Mongolia is $4,932,415,799.95, notably below the average of $118,421,095,413.50. Mongolia ranks 109 out of 183 countries in this attribute data.

Summary

Mongolia's economy showcases a significant disparity compared to global averages in key macroeconomic indicators. The country's Gross Value Added at basic prices, Agriculture, Forestry, and Fishing value added, Services value added, and Industry value added all fall notably below the global average. This indicates a potential underdeveloped and imbalanced economy heavily reliant on these sectors, which could pose challenges for sustainable growth and diversification in the long term.

Manufacturing Value Added

- Manufacturing, value added (current US$): Mongolia's value of 1032576764.13564 is significantly below the attribute average of 76207179589.66, ranking 130 out of 173 countries.
- Manufacturing, value added (% of GDP): Mongolia's value of 7.76% is below the attribute average of 11.90%, placing it at rank 122 out of 173 countries.
- Medium and high-tech manufacturing value added (% manufacturing value added): Mongolia's value of 4.30% is well below the attribute average of 24.49%, ranking 133 out of 149 countries.
- Chemicals (% of value added in manufacturing): Mongolia's value of 2.95% falls below the attribute average of 11.56%, positioning it at 84 out of 89 countries.
- Food, beverages and tobacco (% of value added in manufacturing): Mongolia's high value of 64.20% is significantly above the attribute average of 24.51%, ranking 2 out of 92 countries.
- Machinery and transport equipment (% of value added in manufacturing): Mongolia's value of 1.09% is far below the attribute average of 16.85%, placing it at rank 88 out of 93 countries.
- Textiles and clothing (% of value added in manufacturing): Mongolia's value of 8.30% is above the attribute average of 6.33%, ranking 21 out of 93 countries.
- Other manufacturing (% of value added in manufacturing): Mongolia's value of 23.46% is below the attribute average of 42.13%, positioning it at rank 88 out of 94 countries.

Summary

Mongolia's manufacturing sector, as indicated by various key indicators, such as the contribution to GDP, value added in different subsectors, and its rank compared to other countries, shows a mixed performance. While the country excels in the food, beverages, and tobacco industry, it lags behind in high-tech manufacturing and chemicals production. This analysis is crucial for understanding Mongolia's industrial composition, identifying strengths to leverage, and areas needing development to enhance economic diversification and competitiveness in the global market.

Money

1. Inflation, consumer prices (annual %): Mongolia's inflation rate stands at 3.80%, below the average of 8.26%. Mongolia ranks 44 out of 165 countries in this aspect.

2. Inflation, GDP deflator (annual %): Mongolia's inflation rate based on the GDP deflator is 3.71%, lower than the average of 6.90%. Mongolia ranks 66 out of 188 countries in this metric.

3. Broad money growth (annual %): Mongolia's broad money growth rate is 17.51%, slightly below the average of 18.03%. Mongolia ranks 42 out of 139 countries in this category.

4. Broad money (% of GDP): Mongolia's broad money as a percentage of GDP is 65.36%, which is below the average of 71.75%. Mongolia ranks 68 out of 139 countries concerning this indicator.

5. Broad money to total reserves ratio: Mongolia's ratio is 1.91, significantly lower than the average of 5.17. Mongolia holds the 94th rank out of 126 countries in this ratio.

Summary

Mongolia's macroeconomic indicators suggest a relatively stable economic environment with moderate inflation rates, healthy broad money growth, but lower broad money metrics compared to the global average. Although Mongolia ranks comparably or favorably in most indicators, there might be room for improvement in terms of broad money as a percentage of GDP and broad money to total reserves ratio to strengthen its economic resilience and stability in the long term.

Consumption Expenditure

Final consumption expenditure (current US$): Mongolia's final consumption expenditure is significantly below the attribute average of $381,630,252,515.38, ranking 121st out of 159 countries.

Final consumption expenditure (% of GDP): Mongolia's final consumption expenditure as a percentage of GDP is slightly below the average of 82.37%, ranking 101st out of 159 countries.

General government final consumption expenditure (current US$): Mongolia's government final consumption expenditure is notably lower than the average of $93,676,578,238.03, placing it at 113th out of 158 countries.

General government final consumption expenditure (% of GDP): Mongolia's government final consumption expenditure as a percentage of GDP is below the average of 18.71%, securing a rank of 97th out of 158 countries.

Household and NPISHs final consumption expenditure (current US$): Mongolia's household and NPISHs final consumption expenditure is significantly below the average of $290,127,571,157.69, ranking 120th out of 158 countries.

Households and NPISHs final consumption expenditure (% of GDP): Mongolia's household and NPISHs final consumption expenditure as a percentage of GDP is below the average of 63.68%, ranking 89th out of 158 countries.

Summary

Mongolia's final consumption expenditure, including both government and household spending, falls below global averages in both absolute terms and as a percentage of GDP. This indicates a potential lack of domestic demand and consumption-driven economic growth in Mongolia compared to many other countries worldwide. Addressing this issue is crucial for fostering sustainable economic development, increasing living standards, and achieving greater economic stability in the long run.

Investment

Foreign direct investment, net (BoP, current US$): Mongolia's value is -1.693 billion USD, which is below the average of -1.615 billion USD. Mongolia ranks 126th out of 169 countries in this attribute.

Foreign direct investment, net inflows (BoP, current US$): Mongolia's value is 1.719 billion USD, below the average of 5.749 billion USD. Mongolia ranks 56th out of 182 countries in this attribute.

Foreign direct investment, net inflows (% of GDP): Mongolia's value is 12.91%, well above the average of 2.61%. Mongolia ranks 11th out of 178 countries in this attribute.

Foreign direct investment, net outflows (BoP, current US$): Mongolia's value is 25.97 million USD, significantly below the average of 5.708 billion USD. Mongolia ranks 88th out of 156 countries in this attribute.

Foreign direct investment, net outflows (% of GDP): Mongolia's value is 0.20%, lower than the average of 1.00%. Mongolia ranks 83rd out of 155 countries in this attribute.

Portfolio Investment, net (BoP, current US$): Mongolia's value is 563.27 million USD, slightly below the average of 679.56 million USD. Mongolia ranks 47th out of 159 countries in this attribute.

Portfolio investment, bonds (PPG + PNG) (NFL, current US$): Mongolia's value is -340.96 million USD, much lower than the average of 4.13 billion USD. Mongolia ranks 50th out of 59 countries in this attribute.

Portfolio equity, net inflows (BoP, current US$): Mongolia's value is 6.40 million USD, significantly lower than the average of 9.20 billion USD. Mongolia ranks 46th out of 125 countries in this attribute.

Summary

Mongolia's foreign direct investment metrics show mixed results, with net inflows (% of GDP) performing exceptionally well compared to the global average, indicating a strong willingness of foreign investors to invest in the country. However, net outflows are relatively low, suggesting that Mongolia may need to focus on retaining capital within its borders. The country's performance in portfolio investments is moderate, with room for improvement to attract more portfolio equity inflows for further economic development.

These findings are important as they provide insights into Mongolia's attractiveness to foreign investors and its ability to participate in global capital markets. By understanding these metrics, policymakers can tailor strategies to enhance FDI inflows, encourage portfolio equity investments, and ensure sustainable economic growth for the country.

Debt

Total debt service (% of GNI): Mongolia's total debt service as a percentage of its GNI is 22.58%, ranking 3rd out of 120 countries. This value is significantly higher than the average of 5.98%.

Public and publicly guaranteed debt service (% of GNI): Mongolia's public and publicly guaranteed debt service as a percentage of GNI is 9.43%, ranking 4th out of 120 countries. This value is notably higher than the average of 2.84%.

External debt stocks (% of GNI): Mongolia's external debt stocks as a percentage of its GNI is 268.48%, ranking 2nd out of 120 countries. This value is substantially higher than the average of 65.42%.

Debt service on external debt, total (TDS, current US$): Mongolia's total debt service on external debt is 2.72 billion USD, ranking 40th out of 123 countries. This value is below the average of 9.81 billion USD.

Debt service on external debt, public and publicly guaranteed (PPG) (TDS, current US$): Mongolia's debt service on public and publicly guaranteed external debt is 1.14 billion USD, ranking 42nd out of 123 countries. This value is also below the average of 3.31 billion USD.

External debt stocks, public and publicly guaranteed (PPG) (DOD, current US$): Mongolia's external debt stocks for public and publicly guaranteed debt is 11.19 billion USD, ranking 51st out of 123 countries. This value is lower than the average of 28.70 billion USD.

External debt stocks, private nonguaranteed (PNG) (DOD, current US$): Mongolia's external debt stocks for private non-guaranteed debt is 19.49 billion USD, ranking 23rd out of 91 countries. This value is notably below the average of 33.73 billion USD.

External debt stocks, total (DOD, current US$): Mongolia's total external debt stocks amount to 32.36 billion USD, ranking 39th out of 123 countries. This value is also below the average of 73.85 billion USD.

Summary

Mongolia demonstrates a concerning level of debt burden with a total debt service and external debt stocks far exceeding the global averages. The country ranks significantly high in terms of debt as a percentage of GNI and debt service levels, indicating a potential risk to its economic stability and sustainability. Addressing this high debt burden is crucial to avoid financial strain, maintain investor confidence, and ensure long-term economic growth for Mongolia.

Broad Trade Attributes

Trade (% of GDP): Mongolia has a Trade value of 112.84% of GDP, which is 30.50% above the average. Mongolia is ranked 31 out of 163 countries.

Merchandise trade (% of GDP): Mongolia's Merchandise trade accounts for 96.71% of GDP, 36.70% higher than the average. Mongolia is ranked 23 out of 186 countries.

Trade in services (% of GDP): Mongolia's Trade in services is 20.73% of GDP, 3.89% below the average. Mongolia is ranked 59 out of 171 countries.

External balance on goods and services (current US$): Mongolia's External balance is $330,435,100.37, which is significantly below the average. Mongolia ranks 59 out of 163 countries.

External balance on goods and services (% of GDP): Mongolia's External balance is 2.48% of GDP, 8.45% above the average. Mongolia is ranked 44 out of 163 countries.

Summary

Mongolia has a trade-heavy economy with Trade, Merchandise trade, and External balance on goods and services all significant portions of its GDP. Despite the External balance being below average in current US dollars, it is above average when considered as a percentage of GDP. These indicators are crucial as they show Mongolia's strong reliance on international trade and the need for policies to manage trade imbalances effectively to ensure sustainable economic growth.

Net Trade

Analysis of key macroeconomic statistics for Mongolia:

1. Current account balance (BoP, current US$): Mongolia's current account balance is -$674,611,942.84, which is significantly below the average of $1,443,864,831.49. Mongolia ranks 109th out of 170 countries in this attribute.

2. Current account balance (% of GDP): Mongolia's current account balance as a percentage of GDP is -5.07%, below the average of -2.36%. Mongolia ranks 122nd out of 170 countries in this attribute.

3. Net trade in goods and services (BoP, current US$): Mongolia's net trade in goods and services is $305,323,153.50, lower than the average of $2,604,730,003.57. Mongolia ranks 62nd out of 171 countries in this attribute.

4. Net primary income (BoP, current US$): Mongolia's net primary income is -$1,253,246,104.48, below the average of -$903,807,529.74. Mongolia ranks 110th out of 170 countries in this attribute.

5. Net secondary income (BoP, current US$): Mongolia's net secondary income is $273,311,008.14, above the average of -$269,227,340.40. Mongolia ranks 91st out of 170 countries in this attribute.

6. Net trade in goods (BoP, current US$): Mongolia's net trade in goods is $1,755,558,634.25, higher than the average of $1,302,831,005.68. Mongolia ranks 48th out of 171 countries in this attribute.

7. Net capital account (BoP, current US$): Mongolia's net capital account is $102,836,065.15, below the average of $136,543,824.05. Mongolia ranks 66th out of 159 countries in this attribute.

8. Net financial account (BoP, current US$): Mongolia's net financial account is -$717,349,706.57, below the average of -$469,840,994.63. Mongolia ranks 107th out of 170 countries in this attribute.

Summary

In summary, Mongolia faces significant challenges in its current account balance, net primary income, and net financial account, ranking below average in these key indicators. These economic statistics are crucial as they reflect Mongolia's international trade position, income from foreign investments, and overall financial stability, providing insights into the country's economic health and potential vulnerabilities.

Broad Export Attributes

1. Exports of goods, services and primary income (BoP, current US$): Mongolia's value is $7,987,063,439.75, significantly below the attribute average of $146,238,908,936.30. Mongolia ranks 96th out of 170 countries in this data set.

2. Exports of goods and services (BoP, current US$): Mongolia's value is $7,645,582,756.27, below the attribute average of $122,938,540,059.78. Mongolia ranks 96th out of 170 countries in this data set.

3. Exports of goods and services (current US$): Mongolia's value is $7,676,311,652.05, below the attribute average of $129,596,864,610.19. Mongolia ranks 92nd out of 163 countries in this data set.

4. Exports of goods and services (% of GDP): Mongolia's value is 57.66%, above the attribute average of 38.19%. Mongolia ranks 27th out of 163 countries in this data set.

5. Goods exports (BoP, current US$): Mongolia's value is $6,990,663,057.04, below the attribute average of $93,310,581,697.39. Mongolia ranks 90th out of 171 countries in this data set.

6. International tourism, receipts (% of total exports): Mongolia's value is 0.64%, below the attribute average of 9.74%. Mongolia ranks 114th out of 120 countries in this data set.

7. ICT goods exports (% of total goods exports): Mongolia's value is 0.76%, below the attribute average of 3.81%. Mongolia ranks 140th out of 142 countries in this data set.

Summary

Mongolia falls below the global average in various important export indicators such as total exports, goods exports, and ICT goods exports, leading to a relatively low ranking among countries. However, Mongolia's percentage of exports to GDP is notably higher than the global average, indicating a significant reliance on exports for its economic activity. These statistics highlight Mongolia's export-driven economy, emphasizing the need for diversification and increased competitiveness in global markets to enhance economic growth and stability.

Merchandise Exports

- Merchandise exports (current US$): Mongolia's merchandise exports amount to $7.576 billion, ranking 93 out of 187 countries. While this is below the average merchandise export value of $89.54 billion, it is notable that Mongolia still maintains a significant presence in international trade.
- Agricultural raw materials exports (% of merchandise exports): Mongolia's agricultural raw materials exports account for 3.22% of its total merchandise exports. This places Mongolia at rank 37 out of 151 countries, above the average of 2.97%.
- Food exports (% of merchandise exports): Mongolia's food exports make up 1.62% of its total merchandise exports, ranking at 142 out of 152 countries. This figure is considerably lower than the average of 24.06%.
- Fuel exports (% of merchandise exports): Mongolia's fuel exports contribute to 30.11% of its total merchandise exports, positioning the country at rank 20 out of 147 countries. This is notably higher than the average of 13.70%.
- Ores and metals exports (% of merchandise exports): Mongolia's ores and metals exports constitute 40.08% of its total merchandise exports, ranking 10 out of 152 countries. Mongolia significantly surpasses the average of 9.10%, reflecting its strong presence in mineral exports.

Summary

Mongolia's key macroeconomic indicators reveal a notable export profile. The country maintains a significant presence in international trade, excelling in fuel and ores/metal exports. While food exports remain low compared to the average, Mongolia's strength in mineral resources indicates a promising economic sector for future development. These export trends are crucial as they showcase Mongolia's specialization in lucrative industries, highlighting areas for continued growth and potential economic diversification.

Technology Exports

Mongolia's manufactures exports account for only 1.36% of its merchandise exports, significantly below the average of 42.62%. This places Mongolia at a low rank of 148 out of 152 countries in the dataset.

The country's high-technology exports amount to $3,052,935, much lower than the average of $16,655,934,078.80. Mongolia ranks 127th out of 151 countries in this category.

Mongolia's high-technology exports as a percentage of manufactured exports stand at 2.97%, well below the average of 10.15%. This places Mongolia at a rank of 104 out of 150 countries.

The percentage of medium and high-tech exports in Mongolia's manufactured exports is 1.29%, significantly lower than the average of 34.29%. Mongolia ranks 143rd out of 149 countries in this aspect.

Summary

Mongolia's low percentage of manufactures exports, high-technology exports, high-technology exports as a percentage of manufactured exports, and medium and high-tech exports in manufactured exports indicate a lag in the country's industrial and technological advancement compared to the global average. These statistics highlight potential challenges for Mongolia in diversifying its economy, enhancing competitiveness in the global market, and transitioning towards higher value-added industries to drive sustainable economic growth and development.

Service Exports

Analysis of key statistics for Service exports (BoP, current US$): Mongolia's value of $654,919,699.23 is significantly below the average of $28,917,292,503.82. Mongolia ranks 117 out of 171 countries in this attribute.

Analysis of key statistics for ICT service exports (BoP, current US$): Mongolia's value of $32,248,403.67 is well below the average of $4,578,501,153.77. Mongolia ranks 117 out of 166 countries in this attribute.

Analysis of key statistics for ICT service exports (% of service exports, BoP): Mongolia's value of 4.92% is lower than the average of 11.75%. Mongolia ranks 114 out of 166 countries in this attribute.

Analysis of key statistics for Communications, computer, etc. (% of service exports, BoP): Mongolia's value of 35.57% is slightly below the average of 45.85%. Mongolia ranks 107 out of 169 countries in this attribute.

Analysis of key statistics for Transport services (% of service exports, BoP): Mongolia's value of 58.63% is significantly above the average of 21.80%. Mongolia ranks 11 out of 169 countries in this attribute.

Analysis of key statistics for Travel services (% of service exports, BoP): Mongolia's value of 4.48% is well below the average of 26.40%. Mongolia ranks 148 out of 167 countries in this attribute.

Analysis of key statistics for Insurance and financial services (% of service exports, BoP): Mongolia's value of 1.32% is below the average of 6.46%. Mongolia ranks 129 out of 161 countries in this attribute.

Summary

Mongolia's key statistics for various service exports indicate that the country is underperforming compared to the global average across different categories such as ICT services, communication services, and insurance/financial services. Mongolia's rankings are generally below average in these areas, signaling potential challenges and opportunities for growth in diversifying and enhancing its service export capabilities. These findings are crucial for policymakers and stakeholders as they highlight areas where Mongolia can focus on improving competitiveness and capturing more value from service exports to drive economic development and strengthen its position in the global market.

Commercial Service Exports

Summary

Mongolia's commercial service exports are notably lower than the global average, ranking quite low in various categories such as travel services and insurance/financial services. However, the country excels in transport services, contributing significantly more to its commercial service exports compared to the global average and ranking 11th worldwide. These indicators are crucial as they provide insights into Mongolia's economic strengths and weaknesses in the global market, highlighting areas that may require attention for further development and growth.

Broad Import Attributes

Imports of goods and services (current US$): In Mongolia, the value is 7.35 billion USD, ranking 105 out of 163 countries. The value is significantly below the average of 126.19 billion USD.

Imports of goods and services (% of GDP): Mongolia's value is 55.18%, ranking 39 out of 163 countries. This value is above the average of 44.15%.

International tourism, expenditures (% of total imports): Mongolia's value stands at 7.81%, ranking 14 out of 131 countries. It is notably higher than the average of 3.98%.

ICT goods imports (% total goods imports): Mongolia's value is 4.10%, ranking 94 out of 143 countries. This value is below the average of 6.85%.

Goods imports (BoP, current US$): The value for Mongolia is 5.24 billion USD, ranking 109 out of 171 countries. It is significantly lower than the average of 92.01 billion USD.

Imports of goods and services (BoP, current US$): Mongolia's value is 7.34 billion USD, ranking 107 out of 170 countries. It is notably below the average of 120.32 billion USD.

Imports of goods, services and primary income (BoP, current US$): In Mongolia, the value is 8.93 billion USD, ranking 104 out of 170 countries. This figure is significantly below the average of 144.51 billion USD.

Summary

Mongolia's import values for goods and services, as well as other key indicators, are below the global averages. This suggests a potential challenge in diversifying the economy and reducing dependency on imports. The high percentage of GDP spent on imports, particularly in international tourism expenditures, may indicate a need for boosting domestic industries to reduce reliance on foreign goods and services.

Merchandise Imports

For Merchandise imports (current US$), Mongolia's value is $5,299,000,000, which is significantly lower than the average of $89,385,605,263. Mongolia ranks 118th out of 190 countries in this attribute data.

In terms of Manufactures imports (% of merchandise imports), Mongolia's value is 67.87%, slightly above the average of 66.76%. Mongolia's rank is 75 out of 152 countries.

Agricultural raw materials imports (% of merchandise imports) in Mongolia stand at 0.34%, well below the average of 1.27%. Mongolia ranks 144th out of 152 countries in this category.

Food imports (% of merchandise imports) for Mongolia are at 12.55%, lower than the average of 15.89%. Mongolia ranks 98th out of 152 countries.

Fuel imports (% of merchandise imports) constitute 18.69% for Mongolia, notably higher than the average of 11.38%. Mongolia ranks 17th out of 152 countries.

Ores and metals imports (% of merchandise imports) stand at 0.35% for Mongolia, significantly below the average of 2.57%. Mongolia ranks 150th out of 152 countries.

Merchandise imports by the reporting economy, residual (% of total merchandise imports) account for 0.73% in Mongolia, below the average of 2.51%. Mongolia ranks 70th out of 180 countries in this attribute.

Summary

Mongolia's merchandise imports value is significantly lower than the global average, ranking 118th out of 190 countries. However, the country has higher than average imports in manufactures and fuel, ranking 75th and 17th respectively. These indicators are crucial as they reflect Mongolia's dependence on imported goods, its industrial focus, and its energy needs, highlighting areas for strategic development and potential risks in international trade.

Service Imports

Service imports (BoP, current US$): Mongolia's service imports amount to $2,105,517,979.98, which is significantly below the average of $27,615,356,170.47. Mongolia ranks 97th out of 171 countries in this attribute.

Communications, computer, etc. (% of service imports, BoP): Mongolia's percentage of service imports allocated to communications, computer, etc. is 37.24%, lower than the average of 44.40%. The country ranks 108th out of 169 countries.

Transport services (% of service imports, BoP): Mongolia allocates 28.32% of its service imports to transport services, below the average of 32.90%. Mongolia holds the 91st rank out of 169 countries.

Travel services (% of service imports, BoP): Mongolia dedicates 26.12% of its service imports to travel services, higher than the average of 14.14%. The country's rank is 22 out of 169 countries.

Insurance and financial services (% of service imports, BoP): Mongolia's allocation of 8.32% of service imports to insurance and financial services is slightly below the average of 8.53%. Mongolia ranks 71st out of 169 countries in this category.

Summary

Mongolia's service imports are significantly below the global average, with a ranking of 97th out of 171 countries. The country allocates a higher percentage to travel services but falls below average in communications, computer, and transport services. These indicators are crucial as they highlight Mongolia's trade patterns, key sectors of service imports, and its competitive position in the global market.

Commercial Service Imports

Commercial service imports in Mongolia amount to $2,082,751,271.40 which is significantly below the average of $27,102,746,128.60, ranking 94th out of 171 countries.

Computer, communications, and other services as a percentage of commercial service imports in Mongolia is 36.57%, slightly below the average of 41.71%. Mongolia ranks 99th out of 169 countries in this category.

Mongolia's insurance and financial services as a percentage of commercial service imports stand at 8.41%, lower than the average of 8.85%. The country ranks 73rd out of 169 countries in this aspect.

Transport services as a percentage of commercial service imports constitute 28.62% in Mongolia, below the average of 34.71%. Mongolia ranks 91st out of 169 countries in this category.

Travel services as a percentage of commercial service imports in Mongolia make up 26.40%, significantly higher than the average of 14.73%. Mongolia ranks 23rd out of 169 countries in this particular segment.

Summary

Mongolia's commercial service imports are notably lower than the global average, ranking 94th out of 171 countries. Interestingly, Mongolia excels in the travel services segment, ranking 23rd globally with travel services constituting a significant percentage of their commercial service imports. This indicates a potential area of strength and competitive advantage for Mongolia in the global market.

Infrastructure

Analysis of key transportation statistics in Mongolia:

1. Railways, passengers carried: Mongolia's value of 580 million passenger-km is significantly below the attribute average of 32,281. Mongolia ranks 40th out of 64 countries in this dataset.

2. Railways, goods transported: Mongolia's value of 18,972 million ton-km is well below the attribute average of 119,231. Mongolia ranks 18th out of 62 countries in this dataset.

3. Air transport, freight: Mongolia's value of 1.37475 million ton-km is far below the attribute average of 1,384. Mongolia ranks 101st out of 126 countries in this dataset.

4. Air transport, registered carrier departures worldwide: Mongolia's value of 3,166 departures is significantly below the attribute average of 134,365. Mongolia ranks 113th out of 149 countries in this dataset.

5. Air transport, passengers carried: Mongolia's value of 143,860 passengers carried is well below the attribute average of 11,848,243. Mongolia ranks 115th out of 149 countries in this dataset.

6. Rail lines (total route-km): Mongolia's total route-km of 1,821 is significantly below the attribute average of 12,205. Mongolia ranks 46th out of 66 countries in this dataset.

Summary

Mongolia performs below the attribute averages in key transportation statistics such as railways passengers carried, goods transported, air freight, registered carrier departures, passengers carried by air, and total rail route-km. These metrics indicate limited infrastructure development and connectivity within the country. This deficiency can hinder economic growth, trade efficiency, and international connectivity, impacting Mongolia's competitiveness and ability to attract investments.

Information Technology Infrastructure

Secure Internet servers in Mongolia stand at 5687, which is significantly lower than the attribute average of 458,294. Mongolia ranks 81 out of 193 countries in this category.

Secure Internet servers per 1 million people in Mongolia are at 1726.30, below the attribute average of 14,067.17. Mongolia ranks 69 out of 193 countries in this aspect.

Individuals using the Internet take up 65.63% of Mongolia's population, slightly above the attribute average of 64.77%. Mongolia ranks 108 out of 180 countries in this metric.

Fixed broadband subscriptions in Mongolia are at 307,608, significantly lower than the attribute average of 6,591,956.35. Mongolia ranks 102 out of 185 countries in fixed broadband subscriptions.

Mobile cellular subscriptions in Mongolia total 4,363,919, which is below the average of 42,526,463.87. Mongolia ranks 126 out of 193 countries in mobile cellular subscriptions.

Summary

In summary, Mongolia lags behind the global average in key internet and technology indicators such as secure internet servers, secure internet servers per 1 million people, individuals using the internet, fixed broadband subscriptions, and mobile cellular subscriptions. These statistics are crucial as they reflect Mongolia's digital infrastructure development, connectivity levels, and overall technological advancement in comparison to other countries. Improving these metrics is essential for enhancing communication, promoting economic growth, and fostering innovation within the country.

Energy Consumption

For Renewable energy consumption (% of total final energy consumption), Mongolia's value is 3.98%, which is significantly below the average of 32.18%. This places Mongolia at rank 162 out of 191 countries. This indicates a potential for Mongolia to further develop its renewable energy sector to align with global averages.

On the other hand, for CO2 emissions (kt), Mongolia emits 21,184.7 kt of CO2, lower than the average of 171,895.94 kt. Mongolia ranks 79 out of 188 countries in terms of CO2 emissions, suggesting relatively lower carbon emissions compared to other nations.

Summary

Mongolia's renewable energy consumption of 3.98% falls far below the global average of 32.18%, positioning the country at rank 162 out of 191 nations. This highlights an opportunity for Mongolia to enhance its renewable energy sector to align with international norms. Conversely, Mongolia's CO2 emissions of 21,184.7 kt are notably lower than the global average of 171,895.94 kt, placing Mongolia at a favorable rank of 79 out of 188 countries, showcasing its relatively lower carbon footprint compared to its counterparts. Addressing these metrics is crucial for Mongolia's sustainable development and environmental impact on a global scale.

Government Balance Sheet

Net acquisition of financial assets (% of GDP): Mongolia's value is -0.1019%, which is below the average of 2.4498%. Mongolia ranks 69th out of 87 countries in this statistic.

Central government debt, total (% of GDP): Mongolia's value is 73.9368%, slightly below the average of 74.1161%. Mongolia ranks 26th out of 61 countries in this statistic.

Net incurrence of liabilities, total (% of GDP): Mongolia's value is 8.6048%, above the average of 7.4311%. Mongolia ranks 32nd out of 92 countries in this statistic.

Total reserves (% of total external debt): Mongolia's value is 14.0459%, significantly below the average of 66.1254%. Mongolia ranks 89th out of 102 countries in this statistic.

Reserves and related items (BoP, current US$): Mongolia's value is $687,139,959.05, well below the average of $1,924,407,186.58. Mongolia ranks 48th out of 171 countries in this statistic.

Total reserves minus gold (current US$): Mongolia's value is $4,049,334,798.04, significantly below the average of $74,221,588,171.61. Mongolia ranks 93rd out of 161 countries in this statistic.

Total reserves (includes gold, current US$): Mongolia's value is $4,545,276,809.37, significantly below the average of $85,708,019,773.47. Mongolia ranks 94th out of 161 countries in this statistic.

Total reserves in months of imports: Mongolia's value is 6.1045 months, below the average of 7.0969 months. Mongolia ranks 69th out of 151 countries in this statistic.

Summary

Mongolia's macroeconomic indicators reveal a mixed picture. While the country ranks well in terms of central government debt and net incurrence of liabilities, it lags significantly in metrics related to total reserves and financial assets. These statistics are crucial as they provide insights into Mongolia's financial stability, ability to meet external obligations, and overall economic health.

Government Revenue

Revenue, excluding grants (% of GDP): Mongolia's value is 29.23% of GDP, slightly above the average of 27.02%. Mongolia ranks 47th out of 122 countries in this attribute.

Grants and other revenue (% of revenue): Mongolia's value is 36.35% of total revenue, significantly above the average of 23.54%. Mongolia ranks 18th out of 108 countries.

Social contributions (% of revenue): Mongolia's value is 16.61% of total revenue, below the average of 22.29%. Mongolia ranks 52nd out of 81 countries.

Taxes on goods and services (% of revenue): Mongolia's value is 27.32% of total revenue, below the average of 31.82%. Mongolia ranks 85th out of 122 countries.

Taxes on international trade (% of revenue): Mongolia's value is 6.56% of total revenue, slightly above the average of 6.24%. Mongolia ranks 33rd out of 101 countries.

Other taxes (% of revenue): Mongolia's value is 0.70% of total revenue, significantly below the average of 2.12%. Mongolia ranks 63rd out of 106 countries.

Taxes on income, profits and capital gains (% of revenue): Mongolia's value is 12.46% of total revenue, significantly below the average of 24.66%. Mongolia ranks 103rd out of 119 countries.

Summary

Mongolia demonstrates strong reliance on grants and other revenue, exceeding the global average by a significant margin. However, the country lags behind in generating revenue from taxes on goods and services, income, profits, and capital gains, indicating potential challenges in diversifying its revenue sources and ensuring sustainability in the long term. These indicators are crucial for assessing Mongolia's fiscal stability, economic resilience, and ability to fund its developmental projects and public services.

Taxes

- Tax revenue (% of GDP): Mongolia's tax revenue as a percentage of GDP stands at 14.15%, which is below the average of 16.72%. Mongolia ranks 76th out of 123 countries in this metric.
- Taxes on exports (% of tax revenue): Mongolia's taxes on exports account for 0.20% of its tax revenue, significantly lower than the average of 2.54%. Mongolia ranks 34th out of 36 countries in this category.
- Customs and other import duties (% of tax revenue): Mongolia's customs and other import duties represent 13.94% of its tax revenue, surpassing the average of 9.01%. Mongolia ranks 20th out of 99 countries for this parameter.
- Taxes on income, profits and capital gains (% of total taxes): Mongolia's taxes on income, profits, and capital gains make up 26.49% of total taxes, below the average of 38.40%. Mongolia holds the 96th position out of 120 countries in this aspect.
- Tariff rate, applied, weighted mean, all products (%): Mongolia's weighted mean applied tariff rate of all products is 5.3%, slightly higher than the average of 5.21%. Mongolia is ranked 62nd out of 153 countries based on this metric.

Summary

Mongolia's tax revenue as a percentage of GDP is below the global average, ranking 76th out of 123 countries. The country heavily relies on customs and other import duties, which exceed the global average, ranking 20th out of 99 countries. However, Mongolia's taxes on exports and income, profits, and capital gains are notably lower than the global averages, ranking low in comparison. These indicators are crucial as they reflect Mongolia's fiscal structure and economic reliance on certain revenue sources, pointing towards areas that might require reforms or adjustments to enhance its revenue streams.

Government Expenses

1. Expense (% of GDP): Mongolia's expense as a percentage of GDP is 33.18%, which is slightly higher than the average of 31.69%. Mongolia ranks 54th out of 123 countries in this attribute data.

2. Compensation of employees (% of expense): Mongolia's compensation of employees accounts for 14.09% of expenses, significantly below the average of 24.70%. The country ranks 93rd out of 123 countries in this attribute.

3. Goods and services expense (% of expense): Mongolia allocates 14.87% of expenses to goods and services, slightly above the average of 14.77%. Mongolia holds the 50th rank out of 122 countries.

4. Interest payments (% of expense): Mongolia spends 7.87% of its expenses on interest payments, surpassing the average of 6.85%. The country holds the 40th rank out of 121 countries in this aspect.

5. Subsidies and other transfers (% of expense): Mongolia's expenditure on subsidies and other transfers constitutes 63.17% of its expenses, significantly higher than the average of 43.29%. Mongolia ranks 24th out of 121 countries in this attribute data.

Summary

Mongolia demonstrates a higher-than-average expense as a percentage of GDP, with a notable allocation towards subsidies and other transfers, significantly surpassing the global average. However, the country lags behind in compensating employees, spending less than the average. These indicators are crucial as they reflect Mongolia's financial priorities, resource distribution, and potential for economic growth.

Top Stats

Ranks in Top Decile For:

Attribute	Rank/Total
Land area (sq. km)	18/194
Surface area (sq. km)	18/194
Coal rents (% of GDP)	2/65
Mineral rents (% of GDP)	1/86
Food, beverages and tobacco (% of value added in manufacturing)	2/92
Foreign direct investment, net inflows (% of GDP)	11/178
Total debt service (% of GNI)	3/120
Public and publicly guaranteed debt service (% of GNI)	4/120
External debt stocks (% of GNI)	2/120
Ores and metals exports (% of merchandise exports)	10/152
Transport services (% of service exports, BoP)	11/169
Transport services (% of commercial service exports)	11/169

Ranks in Bottom Decile For:

Attribute	Rank/Total
Capture fisheries production (metric tons)	187/190
Services, value added (% of GDP)	167/183
Chemicals (% of value added in manufacturing)	84/89
Machinery and transport equipment (% of value added in manufacturing)	88/93
Other manufacturing (% of value added in manufacturing)	88/94
International tourism, receipts (% of total exports)	114/120
ICT goods exports (% of total goods exports)	140/142
Food exports (% of merchandise exports)	142/152
Manufactures exports (% of merchandise exports)	148/152
Medium and high-tech exports (% manufactured exports)	143/149
Travel services (% of commercial service exports)	151/167
Agricultural raw materials imports (% of merchandise imports)	144/152
Ores and metals imports (% of merchandise imports)	150/152
Taxes on exports (% of tax revenue)	34/36