| variable | 1980-1989 | 1990-1999 | 2000-2007 | 2008-2009 | 2010-2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|---|---|
| real gdp growth | 5.39 | 0.06 | 7.24 | 2.62 | 6.75 | 1.64 | 5.03 | 7.42 | 4.86 | 6.04 |
| CPI % | - | 89.04 | 9.41 | 7.91 | 7.59 | 7.36 | 15.15 | 10.35 | 6.8 | 9.52 |
| Unemployment rate | - | - | 10.25 | 10.75 | 8.24 | 8.3 | 6.4 | 5.3 | 5.0 | 5.0 |
| Debt/GDP % | - | - | 36.01 | 39.76 | 61.26 | 67.73 | 64.49 | 45.87 | 44.36 | 42.57 |
| Current account balance/GDP % | - | -1.09 | -1.16 | -9.89 | -20.21 | -13.79 | -13.43 | 0.6 | -9.29 | -11.05 |
Data derived from World Economic Outlook Database. To see main macroeconomic indicator in graphs click here
The peoples of Mongolia have a long history under a number of nomadic empires dating back to the Xiongnu in the 4th century B.C., and the name Mongol goes back to at least the 11th century A.D. The most famous Mongol, TEMÜÜJIN (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 ÖGÖDEI and KHUBILAI (aka Kublai Khan), continued to conquer 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. After Manchu rule collapsed in 1911, Mongolia declared independence, finally winning it in 1921 with help from the Soviet Union. Mongolia became a socialist state (the Mongolian People’s Republic) in 1924. Until the collapse of the Soviet Union in 1989, Mongolia was a Soviet satellite state and relied heavily on economic, military, and political assistance from Moscow. The period was also 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. Throughout the period, the ex-communist Mongolian People's Revolutionary Party -- which took the name Mongolian People’s Party (MPP) in 2010 -- has competed for political power with the Democratic Party and several other smaller parties. For most of its democratic history, Mongolia has had a divided government, with the presidency and the parliamentary majority held by different parties but that changed in 2021, when the MPP won the presidency after having secured a supermajority in parliament in 2020. Mongolia’s June 2021 presidential election delivered a decisive victory for MPP candidate Ukhnaagiin KHURELSUKH. 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.
Area: 1,564,116 km2
Climate: desert; continental (large daily and seasonal temperature ranges)
Natural resources: oil, coal, copper, molybdenum, tungsten, phosphates, tin, nickel, zinc, fluorspar, gold, silver, iron
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)major-language sample(s): Дэлхийн баримтат ном, үндсэн мэдээллийн зайлшгүй эх сурвалж. (Mongolian)The World Factbook, the indispensable source for basic information.
Religions: Buddhist 51.7%, Muslim 3.2%, Shamanist 2.5%, Christian 1.3%, other 0.7%, none 40.6% (2020 est.)
Capital: Ulaanbaatar
Government type: semi-presidential republic
Chief of state: President Ukhnaagiin KHURELSUKH (since 25 June 2021)
Head of government: Prime Minister Gombojavyn ZANDANSHATAR (since 13 June 2025)cabinet: Cabinet directly appointed by the prime ministerelection/appointment process: presidential candidates nominated by political parties represented in the State Great Hural and directly elected by simple-majority popular vote for one 6-year term; following legislative elections, the State Great Hural usually elects the leader of the majority party or majority coalition as prime ministermost recent election date: 9 June 2021election results: 2021: Ukhnaagiin KHURELSUKH elected president in first round; percent of vote - Ukhnaagiin KHURELSUKH (MPP) 68%, Dangaasuren ENKHBAT (RPEC) 20.1%, Sodnomzundui ERDENE (DP) 6%2017: Khaltmaa BATTULGA elected president in second round; percent of vote in first round - Khaltmaa BATTULGA (DP) 38.1%, Miyegombo ENKHBOLD (MPP) 30.3%, Sainkhuu GANBAATAR (MPRP) 30.2%, invalid 1.4%; percent of vote in second round - Khaltmaa BATTULGA 55.2%, Miyegombo ENKHBOLD 44.8%expected date of next election: 2027
Description: legislature name: State Great Hural (Ulsiin Ih Hural)legislative structure: unicameralnumber of seats: 126 (all directly elected)electoral system: mixed systemscope of elections: full renewalterm in office: 4 yearsmost recent election date: 6/28/2024parties elected and seats per party: Mongolian People's Party (MPP) (68); Democratic Party (DP) (42); HUN Party (8); Other (8)percentage of women in chamber: 25.4%expected date of next election: June 2028
Information derived by "The World Factbook 2021. Washington, DC: Central Intelligence Agency, 2021. https://www.cia.gov/the-world-factbook/"