Mongolia Country profile

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January 2020

Mongolia’s GDP is expanding solidly again, following a slump in global commodity prices and economic mismanagement that pushed the economy to the brink of crisis in 2017. Reform progress under an IMF program has supported improvement in public and external finances and reduced banking sector risks. Overall, Mongolia lags emerging and developing Asia in creditworthiness and per capita income. But measures of business conditions and growth are broadly in line with the peer average.

Figure
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 2020 and 2024 as provided by the IMF. Annual GDP growth is the five-year average between 2020 and 2024. 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.