Attribute | Value |
---|---|
Geography | |
Area | 1,564,116 km² |
Continent | Asia |
Land area | 1,553,556 km² |
Water area | 10,560 km² |
Land boundaries | 8,082 km |
Border countries |
|
Coastline | 0 km |
Mean elevation | 1,528 m |
Lowest point | 560 m |
Highest point | 4,374 m |
People | |
Population | 3,168,026 |
Official languages |
|
Religion | Buddhist |
Government | |
Long country name | Add |
Short country name | Mongolia |
Long local name | Add |
Short local name | Mongol Uls |
Former name |
|
Government type | Semi-presidential republic |
Capital | Ulaanbaatar |
Economy | |
GDP (PPP) | 43,540,000,000 USD |
GDP (OER) | 11,140,000,000 USD |
GDP (real growth rate) | 5.1 % |
GDP - per capita (PPP) | 13,700 USD |
Gross national saving | 26.9 % of GDP |
Labor force | 1,241,000 |
Unemployment rate | 8 % |
Population below poverty line | 29.6 % |
Budget revenues | 2,967,000,000 USD |
Budget expenditures | 3,681,000,000 USD |
Military expenditures | 0.68 % of GDP |
Taxes and other revenues | 26.6 % of GDP |
Budget surplus or deficit | -6.4 % of GDP |
Public debt | 91.4 % of GDP |
Inflation rate | 4.6 % |
Central bank discount rate | 11 % |
Commercial bank prime lending rate | 20.01 % |
Stock of narrow money | 1,164,000,000 USD |
Stock of broad money | 1,164,000,000 USD |
Stock of domestic credit | 7,542,000,000 USD |
Market value of publicly traded shares | 632,600,000 USD |
Current account balance | -1,155,000,000 USD |
Exports | 7,012,000,000 USD |
Imports | 5,875,000,000 USD |
Reserves of foreign exchange and gold | 3,016,000,000 USD |
External debt | 25,330,000,000 USD |
National currency | togrog/tugriks |
National currency (code) | MNT |
National currency (symbol) | ₮ |
National currency rate to USD | 2 |
The Mongols gained fame in the 13th century when under Chinggis KHAAN they established a huge Eurasian empire through conquest. After his death the empire was divided into several powerful Mongol states, but these broke apart in the 14th century. The Mongols eventually retired to their original steppe homelands and in the late 17th century came under Chinese rule. Mongolia declared its independence from the Manchu-led Qing Empire in 1911 and achieved limited autonomy until 1919, when it again came under Chinese control. The Mongolian Revolution of 1921 ended Chinese dominance, and a communist regime, the Mongolian People’s Republic, took power in 1924. The modern country of Mongolia, represents only part of the Mongols' historical homeland; today, more ethnic Mongolians live in the Inner Mongolia Autonomous Region in the People's Republic of China than in Mongolia. Since the country's peaceful democratic revolution in 1990, the ex-communist Mongolian People's Revolutionary Party (MPRP) - which took the name Mongolian People’s Party (MPP) in 2010 - has competed for political power with the Democratic Party (DP) and several other smaller parties, including a new party formed by former President ENKHBAYAR, which confusingly adopted for itself the MPRP name. In the country's most recent parliamentary elections in June 2016, Mongolians handed the MPP overwhelming control of Parliament, largely pushing out the DP, which had overseen a sharp decline in Mongolia’s economy during its control of Parliament in the preceding years. Mongolians elected a DP member, Khaltmaa BATTULGA, as president in 2017.