Mongolia Economy 2001

Economy - overview:

Economic activity traditionally has been based on agriculture and breeding of livestock. Mongolia also has extensive mineral deposits:

GDP: purchasing power parity - $4.7 billion (2000 est.)

GDP - real growth rate: -1% (2000 est.)

GDP - per capita: purchasing power parity - $1,780 (2000 est.)

GDP - composition by sector:
agriculture: 36%
industry: 22%
services: 42% (2000 est.)

Population below poverty line: 40% (2000 est.)

Household income or consumption by percentage share:
lowest 10%: 2.9%
highest 10%: 24.5% (1995)

Inflation rate (consumer prices): 7.6% (1999)

Labor force: 1.3 million (1999)

Labor force - by occupation: primarily herding/agricultural

Unemployment rate: NA%

Budget:
revenues: $262 million
expenditures: $328 million, including capital expenditures of $NA (2000 est.)

Industries: construction materials, mining (particularly coal and copper); food and beverages, processing of animal products

Industrial production growth rate: 2.4% (2000 est.)

Electricity - production: 2.671 billion kWh (1999)

Electricity - production by source:
fossil fuel: 100%
hydro: 0%
nuclear: 0%
other: 0% (1999)

Electricity - consumption: 2.767 billion kWh (1999)

Electricity - exports: 80 million kWh (1999)

Electricity - imports: 363 million kWh (1999)

Agriculture - products: wheat, barley, potatoes, forage crops; sheep, goats, cattle, camels, horses

Exports: $454.3 million (f.o.b., 1999)

Exports - commodities: copper, livestock, animal products, cashmere, wool, hides, fluorspar, other nonferrous metals

Exports - partners: China 60%, US 20%, Russia 9%, Japan 2% (2000 est.)

Imports: $510.7 million (c.i.f., 1999)

Imports - commodities: machinery and equipment, fuels, food products, industrial consumer goods, chemicals, building materials, sugar, tea

Imports - partners: Russia 33%, China 21%, Japan 12%, South Korea 10%, US 4% (1999)

Debt - external: $760 million (2000 est.)

Economic aid - recipient: $200 million (1998 est.)

Currency: togrog/tugrik (MNT)

Currency code: MNT

Exchange rates: togrogs/tugriks per US dollar - 1,097.00 (December 2000), 1,076.67 (2000), 1,072.37 (1999), 840.83 (1998), 789.99 (1997), 548.40 (1996)

Fiscal year: calendar year

NOTE: The information regarding Mongolia on this page is re-published from the 2001 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Mongolia Economy 2001 information contained here. All suggestions for corrections of any errors about Mongolia Economy 2001 should be addressed to the CIA.