Country Summary: Mongolia
Country Name: Mongolia
Capital: Ulaanbaatar
Government Type: semi-presidential republic
Background: The peoples of Mongolia have a long history under a number of nomadic empires dating back to the period of the Xiongnu in the 4th century B.C. The name Mongol goes back to at least the 11th century A.D. The most famous Mongol, Temuujin (aka Genghis Khan) emerged as the ruler of all Mongols in the early 1200s. By the time of his death in 1227, he had created through conquest a Mongol Empire that extended across much of Eurasia. His descendants, including Ögodei and Khubilai (aka Kublai Khan), continued military campaigns of conquest, taking control of Eastern Europe, the Middle East, and the rest of China where Khubilai established the Yuan Dynasty in the 1270s. The Mongols attempted to invade Japan and Java before their empire broke apart in the 14th century. In the 17th century, Mongolia fell under the rule of the Manchus of the Chinese Qing Dynasty. Following the collapse of the Manchus in 1911, Mongolia declared its independence, achieving it with help from the Soviet Union in 1921. Mongolia became a socialist state (the Mongolian People’s Republic) in 1924. Following independence and until the collapse of the Soviet Union in 1989, the country was a Soviet satellite state, and heavily reliant on economic, military, and political assistance from Moscow. The period also was marked by purges, political repression, economic stagnation, and tensions with China.
Mongolia peacefully transitioned to an independent democracy in 1990. In 1992, it adopted a new constitution and established a free market economy. Since the country's transition, it has conducted a series of successful presidential and legislative elections.
Mongolia maintains close cultural, political, and military ties with Russia while China is its largest economic partner. Mongolia’s foreign relations are focused on preserving its autonomy by balancing relations with China and Russia, as well as its other major partners, Japan, South Korea, and the US.
Continent: Asia
Population: 3,255,468 (2023 est.)
note: Mongolia is one of the least densely populated countries in the world (2 people per sq km); twice as many ethnic Mongols (some 6 million) live in Inner Mongolia (Nei Mongol) in neighboring China
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.)
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
Currency: Mongolian Tugrik (MNT)
Reserves of Foreign Exchange & Gold: $3.398 billion (2022 est.) note: holdings of gold (year-end prices)/foreign exchange/special drawing rights in current dollars
Real GDP (Purchasing Power Parity): $41.029 billion (2022 est.) note: data in 2017 dollars
Real GDP Growth Rate: 5.03% (2022 est.) note: annual GDP % growth based on constant local currency
Real GDP per Capita: $12,100 (2022 est.) note: data in 2017 dollars
Exports:
$10.989 billion (2022 est.) note: balance of payments - exports of goods and services in current dollars
Comparison Ranking: 108
Export Commodities: copper, coal, gold, iron, animal hair, crude petroleum, zinc (2021)
Export Partners: China 73%, Switzerland 19%, Singapore 2%, South Korea 2%, Russia 1% (2021)
Imports:
$12.112 billion (2022 est.) note: balance of payments - imports of goods and services in current dollars
Comparison Ranking: 113
Import Commodities: refined petroleum, cars, delivery trucks, construction vehicles, aircraft (2019)
Import Partners: China 31%, Russia 29%, Japan 10%, South Korea 5% (2019)
Natural Resources: oil, coal, copper, molybdenum, tungsten, phosphates, tin, nickel, zinc, fluorspar, gold, silver, iron
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
Industrial Production Growth Rate:
-4.52% (2022 est.) note: annual % change in industrial value added based on constant local currency
Comparison Ranking: 200
Labor Force: 1.389 million (2022 est.)
Unemployment Rate: 6.21% (2022 est.) note: % of labor force seeking employment
Natural Hazards: dust storms; grassland and forest fires; drought; "zud," which is harsh winter conditions
Geography:
Total: 1,564,116 sq km
Land: 1,553,556 sq km
Water: 10,560 sq km
(Country Summary, The World Factbook, CIA.gov)
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