- Capital City: Ulaanbaatar
- General Information Official Language: Mongolian
- Currency: Tugrik / (MNT)
- Population (2024): 3.49 million (2024)
Political Overview
Government Type
Republic, Unitary State, Parliamentary Republic, Semi-Presidential System
Key Leaders
- President – Ukhnaagiin Khürelsükh
- Prime Minister – Oyun-Erdene Luvsannamsrain
Political Stability Index
0.5 (2022)
International Alliances
- UN, WTO, IMF, WB, ABD, EBRD, NATO (Partner Nation), SCO (observer)
Economic Overview
GDP (Nominal)
$23.7 billion (2024)
GDP (PPP)
$67.7 billion (2024)
Key Industries
- Mining & Minerals
- Agriculture
- Construction
Top 5 Importers/Exporters
2023 data – China (63.4 %), Russia (13.0 %) and Switzerland (5.0 %) .
Mongolia’s exports were concentrated on China (84 % of total exports), followed by Switzerland with 8.4 % and the EU with 1.1 %. For imports, China (35.2 %), Russia for 29.6 % and the EU for 9.5 %. Mineral products (87.4% of total exports, valued at $10.3 billion), Natural stones and precious metals ( 5.8% of total exports, valued at $679.2 million), Textiles and textile products (3% of total exports, valued at $356.4 million).
Top imports of 2024 include Mineral products (17.8%), Machinery, equipment, and electrical appliances (37.3%) – top import partners are China, Russia, and Japan
Social Indicators
Human Development Index
0.741 (96th)
Literacy Rate
99.18%
Life Expectancy
70.72 years (2024)
Geopolitical Relevance
Strategic Location
Landlocked between two major powers, Russia and China. Acts as a land corridor for energy, raw materials, and goods flowing between Russia, China, and Central Asia.
Key Conflicts
With China (historical ties over Tibet)
Border Issues
Mongolia-China Border Issues (over ties with Tibet)
Military Strength
Mongolia military spending/defense budget for 2022 was $0.12B, Mongolia military size for 2020 was 18,000 SCO member and partner of NATO
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