The economy of Mongolia has traditionally been based on agriculture and livestock. Mongolia also has extensive mineral deposits: copper, coal, molybdenum, tin, ... Economic history · The Wolf Economy · Banks

The Mongolian economy is based mainly on livestock, the basis of traditional Mongolian culture. One third of Mongolians are nomads, who live by farming.

The country has made important progress in reducing poverty and is classified as an upper-middle income country in 2024. Creating more and better jobs is ...

Mongolia's economy is considered “moderately free” according to the 2024 Index. Mongolia's entrepreneurial sector benefits from a relatively open trade regime, ...

Mongolia's landlocked economy from its traditional dependence on herding and agriculture. Exports now account for more than 40% of GDP.

Economic Trivia. Trade with China represents more than half of Mongolia's total external trade - China receives more than 90% of Mongolia's exports.

Mongolia possesses numerous assets, including raw materials, sizable livestock and many other sectors with high potential for development (mining, food ...

Mongolia had an underdeveloped, stagnant economy based on nomadic animal husbandry. Farming and industry were almost nonexistent.

Mining sector as the main growth driver. Economic growth will remain robust in 2025, as it did in 2024, despite a slight downturn notably due to the contraction ...

Mongolia's rich natural resources form the backbone of the country's economy. Its extractive resources include coal, copper, iron and gold.