Mongolia Economy

Mongolia is a landlocked country between Russia and People’s Republic of China. It is 550 km from the capital Ulaanbaatar to Beijing, 700 km to port of Tianjin. It has longest land border with 12 border crossings with People’s Republic of China from all of China’s 14 neighbors - 4600 km compared to 4300 km China’s border with Russia.  Mongolia has also long land border with Russia of 3500km, it is 235km from capital Ulaanbaatar to center of Siberian region, Irkutsk and 3000 km to Russia’s industrial region of Ural. It is 2000 km from Ulaanbaatar to Seoul and 3000 km to Tokyo.

Mongolia's strategic location is advantages for resources exports to China compared, for example, with Kazakhstan and Australia.

With massive land of 1.5 million square kilometers, Mongolia is in the top 20 largest countries of the world. It has 20% of Australia’s land area yet very tiny open economy of 8 billion USD, which is not even 1 % of Australia.

On the other hand, Mongolia has stable, mature and vibrant frontier democracy based on consensus building and young talented small population of 2.7 million with a lot of potential. 59% of the Mongolian population is below 30 years of age.

It is widely acknowledged that Mongolia is among the top 10 mineral richest countries in the world. With only 17% of territory properly explored, it is already has in-ground value of only top commodities above USD 3 trillion compared to USD 2.5 trillion of South Africa’s.