Mongolia has an area of 1.5 million square kilometers and a population of around 2.68 million people in 2008. It has a low population density of 1.7 inhabitants per square km and over 60% of Mongolians live in urban areas. Mongolia has experienced economic growth in recent years, with its GDP increasing and trade turnover growing substantially from 2000 to 2007 as it has opened up economically and now trades with over 100 countries globally.