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25 February, 2021updated 29 Oct 2021 18:11

Investing in Mongolia: what you need to know

All of the key data and information needed when considering investing in Mongolia.

By Carmen

As of 2021, Mongolia has a population of 3.3 million, making it the 134th largest country in the world by this measure. There are 49.2% males and 50.8% females.

There are 1.3 million people employed in Mongolia, with an unemployment rate of 7.6% – 105,772 people.

Mongolia is the 258th largest economy in the world with a GDP of $12.3bn.

As of 2018 there were 155,248 students in tertiary education in Mongolia, with 281,961 students in secondary and 311,063 in primary education. Mongolia spent 3.3% of its GDP on education in 2019.

Mongolia ranked 81st in the World Bank’s Doing Business Report (2020). In the 2019 report it finished 74th. In the World Economic Forum’s Global Competitiveness Report (2019), Mongolia finished 102nd, after ranking 102nd in 2018.

Public healthcare expenditure totalled $308m and private healthcare expenditure equalled $188m in 2018.

The largest urban areas in Mongolia are Ulaanbaatar (1.5 million people), Bayan/Undur (Orkhon) (110,960) and Darkhan (Darkhan/Uul) (91,856).

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