Mongolia profile

Demography and Health

Mongolia has a relatively small population in 2024 of about 3.5248 million people, placing it well below many of its regional peers in population size. The demographic profile features a birth rate of 19.0 per 1,000 people and a crude death rate of 5.5 per 1,000, with life expectancy at birth at 72.1 years (2023). The under-5 mortality rate stands at 13.6 per 1,000 live births, indicating ongoing child health challenges that require sustained investment in health services, nutrition, and maternal care. Net migration in 2024 is 83 (value with rank 85), suggesting a modest balance of people entering and leaving the country, which can influence urbanization patterns and the labor market over time.

Healthcare resources per capita show a relatively strong hospital capacity for a middle-income country: 10.6 hospital beds per 1,000 people (2021) and 3.87 physicians per 1,000 people (2021). Current health expenditure amounts to 8.85% of GDP (2022), with domestic government health expenditure per capita, PPP, at 447 international US dollars (2022), signaling substantial public investment in health. Despite these resources, Mongolia faces public health challenges reflected in a suicide rate of 18.5 per 100,000 population (2021), underscoring the importance of expanding mental health services and preventive care. The population’s digital connectivity is strong, with 83% using the Internet (2023), which can support telemedicine, health information access, and remote health initiatives. Nutrition indicators show a relatively low prevalence of undernourishment at 2.5% (2022), hinting at improving food security, though poverty remains a significant constraint for a portion of the population (27.1% below the national poverty line in 2022).

Research and development activity is modest relative to peers, with R&D expenditure at 0.0837% of GDP (2022) and 109 patent applications by residents (2021), suggesting room to strengthen innovation capacity and translate scientific advances into broader health improvements and medical technologies.

Economy

Mongolia exhibits a middle-income profile, with GDP per capita at current prices of US$6,691 in 2024 and a GDP per capita, PPP of US$19,098. The economy is highly open to trade, with exports of goods and services totaling 69.1% of GDP and imports at 69.8% of GDP in 2024, reflecting a deeply integrated economy that depends on external demand and supply chains. The current account balance is a modest 0.597% of GDP (2023), indicating a relatively balanced external position that can be sensitive to commodity price swings. Inflation is elevated at 6.8% (2024), which affects household purchasing power and can influence monetary policy and investment decisions. Unemployment stands at 5.18% (2023), and the poverty headcount ratio at national poverty lines is 27.1% (2022), illustrating ongoing social challenges alongside the growth potential of the economy.

Foreign direct investment, net inflows, represent 11.1% of GDP (2023), signaling a notable level of foreign capital flows that likely supports extractive sectors, infrastructure, and related services. High-technology exports are relatively small, totaling about US$51.1 million (2022), while resident patent activity is 109 applications (2021), indicating that Mongolia remains at an early stage of technological sophistication relative to global leaders. Environmental considerations accompany economic indicators: total greenhouse gas emissions per capita are 24.0 t CO2e (2023), and renewable energy accounts for 3.0% of total final energy consumption (2021), underscoring both the environmental footprint of growth and a potential trajectory for cleaner energy investment. The country experiences a moderate poverty rate alongside robust export performance, placing development policy at the intersection of growth, inclusion, and sustainability.

Trade and Investment

The Mongolian economy shows a highly open trade posture with exports at 69.1% of GDP and imports at 69.8% of GDP (2024), signaling a dependence on external markets for both inputs and demand. This openness is complemented by a net inflow of foreign direct investment equal to 11.1% of GDP (2023), pointing to confidence from international investors in Mongolia’s resource base and strategic position in regional value chains. The country’s high-technology export activity remains modest at roughly US$51 million (2022), and the innovation footprint is reflected in 109 resident patent applications (2021). A key logistical constraint is the quality of trade-related infrastructure, with a Logistics Performance Index score of 2.3 (2022) on a 1–5 scale, indicating that improving transport, customs, and connectivity could reduce costs and boost competitiveness. The external account remains only modestly positive with a current account balance of 0.597% of GDP (2023), suggesting resilience but also exposure to global price cycles for minerals and energy.

Governance and Institutions

Governance indicators present a mixed picture. Political stability and absence of violence/terrorism are positive, scoring 0.593 (2023), implying relative domestic calm. However, perceptions of regulatory quality (-0.176) and rule of law (-0.184) point to structural weaknesses in regulatory design and legal enforcement. Control of corruption is negative at -0.493 and government effectiveness at -0.472 (2023), signaling governance challenges that can hinder policy implementation, policy credibility, and investment climate. Poverty remains a persistent concern, with 27.1% of the population living below the national poverty line in 2022. Taken together, Mongolia’s governance landscape combines political stability with meaningful reforms needed in institutions, anti-corruption measures, and the efficiency of public service delivery to sustain inclusive growth and investor confidence.

Infrastructure and Technology

Infrastructure and technology in Mongolia reveal both strengths and gaps. The health sector benefits from 10.6 hospital beds per 1,000 people (2021) and 3.87 physicians per 1,000 (2021), indicating a solid clinical capacity to serve a population beyond urban centers. Internet penetration is high at 83% (2023), supporting digital services, e-government, and remote work. Public health spending remains substantial at 8.85% of GDP (2022), with per-capita health expenditure in PPP terms at 447 international US dollars (2022). Yet, the Logistics Performance Index score of 2.3 (2022) highlights room for improvement in trade and transport infrastructure, which can affect efficiency and cost competitiveness. Domestic innovation activity remains modest—R&D spending is 0.0837% of GDP (2022) with 109 resident patent applications (2021)—while high-technology exports are about US$51.1 million (2022). Renewable energy’s share is 3.0% of total final energy consumption (2021), signaling substantial potential to expand clean energy capacity as technology adoption grows and infrastructure improves.

Environment and Sustainability

Environmental pressures in Mongolia reflect a mix of resource abundance and development challenges. The freshwater withdrawal intensity is low, with the level of water stress at 3.4% (2021), suggesting ample water resources relative to availability, though climate variability and regional usage patterns warrant careful stewardship. Per-capita greenhouse gas emissions are high at 24.0 t CO2e (2023), indicating significant emissions intensity given the country’s size and economic structure, underscoring the importance of energy transition strategies. Renewable energy currently accounts for 3.0% of total final energy consumption (2021), signaling considerable scope to diversify energy sources, reduce emissions, and increase resilience to price volatility in fossil fuels. The prevalence of undernourishment is low at 2.5% (2022), reflecting overall food security; nonetheless, environmental management, climate resilience, and sustainable growth are crucial to maintaining social protections and long-term prosperity in a changing climate.