Mongolia Country profile


April 2019

Mongolia’s economy is on the mend after the sharp slowdown in global commodity prices, close links to a slowing Chinese economy and economic mismanagement weighed heavily on Mongolia’s annual growth rate in 2017. Progress on much needed structural reforms under the IMF program and steady coal exports have supported stronger growth. Mongolia lags the region in creditworthiness and per capita income. But business conditions are more favourable relative to the peer average.

This chart is a cobweb diagram showing how a country measures up on four important dimensions of economic performance—per capita income, annual GDP growth, business climate and creditworthiness. Per capita income is in current US dollars between 2018 and 2023 as provided by the IMF. Annual GDP growth is the average between 2018 and 2023. Business climate is measured by the World Bank’s Ease of Doing Business ranking of 190 countries. Creditworthiness attempts to measure a country's ability to honour its external debt obligations and is measured by its OECD country credit risk rating. The chart shows not only how a country performs on the four dimensions, but how it measures up against other comparable countries.