Country Summary



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.



total: 1,564,116 sq km
land: 1,553,556 sq km
water: 10,560 sq km


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


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.)


Mongolian 90% (official) (Khalkha dialect is predominant), Turkic, Russian (1999)


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 type

semi-presidential republic


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 (76 seats; members directly elected in single-seat constituencies by simple majority vote; each constituency requires at least 50% voter participation for the poll to be valid; members serve 4-year terms)


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


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


4.12% of GDP (2020 est.)
3.95% of GDP (2019 est.)
3.34% of GDP (2018 est.)


$8.95 billion (2021 est.)
$7.646 billion (2020 est.)
$8.416 billion (2019 est.)

Exports - partners

China 81%, Switzerland 9% (2019)

Exports - commodities

copper, coal, gold, iron, animal hair, crude petroleum, zinc (2021)


$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: Monday, September 25, 2023