Economy of mongolia

1. ECONOMY OF MONGOLIA

2. • Started transition to market economy in 1990 under extremely difficult
conditions
• In 1990-1992 transition crisis, GDP was falling at 9-10% annually
• In 2004-2008, Mongolia was one of the fastest growing countries
• Between 2004 and 2008 GDP per capital increased from 720 USD to 1971 USD

3. GDP - GROSS DOMESTIC PRODUCT
• GDP - per capita (PPP): $5,900
• GDP - real growth rate: 11.8% (2013 est.)
country comparison to the world: 6
• 12.3% (2012 est.)
• 17.5% (2011 est.)
13.57
15.23
17.03
18
16
14
12
10
8
6
4
2
0
GDP
2011 2012 2013

4. GDP - COMPOSITION, BY SECTOR OF ORIGIN:
agriculture
16%
industry
33%
sevices
51%
agriculture industry sevices

5. AGRICULTURE - PRODUCTS
• wheat, barley, vegetables, sheep, goats, cattle, camels, horses

6. INDUSTRIES PRODUCTS
• 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

7. SERVICES
• tourism, financial services, entertainment, education, health, transport

9. LABOR FORCE
• 1.037 million (2011 est.)
• Labor force - by occupation:
agriculture: 33%
industry: 10.6%
services: 56.4% (2011)
34%
11%
55%
agriculture industry services

10. UNEMPLOYMENT & POWERTY LINE
• Unemployment rate: 9% (2011 est.)
country comparison to the world: 99
• Population below poverty line: 29.8%

11. INFLATION RATE: 8.2% (2013 EST.)

12. EXPORT PRODUCTS
• Exports - commodities: copper, apparel, livestock, animal products, cashmere, wool, hides, fluorspar,
other nonferrous metals, coal, crude oil

13. IMPORT PRODUCTS
• Imports - commodities: machinery and equipment,petroleum, cars, food products, industrial consumer
goods, chemicals, building materials, cigarettes and tobacco, appliances, soap and detergent