Introduction
Background
The Mongols gained fame in the 13th century when they established a huge Eurasian empire through conquest. The Mongols eventually retired to their original steppe homelands and in the late 17th century came under Chinese rule. The Mongolian Revolution of 1921 ended Chinese dominance, and a communist regime, the Mongolian People’s Republic, took power in 1924.
Geography
Area
total: 1,564,116 sq km
land: 1,553,556 sq km
water: 10,560 sq km
Climate
desert; continental (large daily and seasonal temperature ranges)
Natural resources
oil, coal, copper, molybdenum, tungsten, phosphates, tin, nickel, zinc, fluorspar, gold, silver, iron
People and Society
Population
3,255,468 (2023 est.)
Ethnic groups
Khalkh 83.8%, Kazak 3.8%, Durvud 2.6%, Bayad 2%, Buriad 1.4%, Zakhchin 1.2%, Dariganga 1.1%, other 4.1% (2020 est.)
Languages
Mongolian 90% (official) (Khalkha dialect is predominant), Turkic, Russian (1999)
Religions
Buddhist 51.7%, Muslim 3.2%, Shamanist 2.5%, Christian 1.3%, other 0.7%, none 40.6% (2020 est.)
Population growth rate
0.83% (2023 est.)
Government
Government type
semi-presidential republic
Capital
name: Ulaanbaatar
Executive branch
chief of state: President Ukhnaagiin KHURELSUKH (since 25 June 2021)
head of government: Prime Minister Luvsannamsrai OYUN-ERDENE (since 27 January 2021); Deputy Prime Minister Sainbuyen AMARSAIKHAN (since 8 September 2022)
Legislative branch
description: unicameral State Great Hural or Ulsyn Ikh Khural (126 seats; 78 members directly elected in a selected constituency by simple majority vote and 48 members directly elected by proportional representation vote; members serve 4-year terms); note - a constitutional referendum passed in May 2023 increased the number of seats to 126 from 76
Economy
Economic overview
lower middle-income East Asian economy; large human capital improvements over last 3 decades; agricultural and natural resource rich; export and consumption-led growth; high inflation due to supply bottlenecks and increased food and energy prices; currency depreciation
Real GDP (purchasing power parity)
$39.063 billion (2021 est.)
$38.434 billion (2020 est.)
$40.27 billion (2019 est.)
Real GDP per capita
$11,700 (2021 est.)
$11,700 (2020 est.)
$12,500 (2019 est.)
Agricultural products
milk, wheat, goat milk, potatoes, mutton, sheep milk, beef, goat meat, horse meat, carrots/turnips
Industries
construction and construction materials; mining (coal, copper, molybdenum, fluorspar, tin, tungsten, gold); oil; food and beverages; processing of animal products, cashmere and natural fiber manufacturing
Remittances
4.12% of GDP (2020 est.)
3.95% of GDP (2019 est.)
3.34% of GDP (2018 est.)
Exports
$8.95 billion (2021 est.)
$7.646 billion (2020 est.)
$8.416 billion (2019 est.)
Exports - partners
China 73%, Switzerland 19%, Singapore 2%, South Korea 2%, Russia 1% (2021)
Exports - commodities
copper, coal, gold, iron, animal hair, crude petroleum, zinc (2021)
Imports
$9.256 billion (2021 est.)
$7.34 billion (2020 est.)
$9.249 billion (2019 est.)
Imports - partners
China 31%, Russia 29%, Japan 10%, South Korea 5% (2019)
Imports - commodities
refined petroleum, cars, delivery trucks, construction vehicles, aircraft (2019)
Exchange rates
togrog/tugriks (MNT) per US dollar -
Exchange rates:
2,849.289 (2021 est.)
2,813.29 (2020 est.)
2,663.541 (2019 est.)
2,472.484 (2018 est.)
2,439.777 (2017 est.)
Page last updated: Wednesday, December 06, 2023
