Mongolia

Economic Overview and Procurement Law Information

GDP (2024)

$19.7B

GDP Growth

6.5%

Population

3.4M

Capital

Ulaanbaatar

Economic Overview

Mongolia is a landlocked country in East Asia with a rapidly growing economy driven primarily by mining and natural resources. The country has significant deposits of copper, coal, gold, and other minerals, making it one of the most resource-rich nations in the region.

Key Economic Sectors

Mining

25%

Coal, copper, gold, fluorspar

Manufacturing

10%

Food, textiles, construction materials

Construction

8%

Infrastructure and real estate development

Energy

12%

Coal power, renewable energy