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Average real economic growth leveled off to about 3.5% in 1996–99 due to the Asian financial crisis, the 1998 Russian financial crisis, and worsening commodity prices, especially copper and gold. Mongolia's gross domestic product (GDP) growth fell from 3.2% in 1999 to 1.3% in 2000. The decline can be attributed to the loss of 2.4 million ...
Rank Region GDP per capita in MNT (Nominal) GDP per capita in USD (PPP) % of national average 1 Ömnögovi 39,223,310 $35,285 243.3% 2 Orkhon 31,545,390 $28,378
The figures are from the International Monetary Fund (IMF) World Economic Outlook Database, unless otherwise specified. [1] This list is not to be confused with the list of countries by real GDP per capita growth, which is the percentage change of GDP per person taking into account the changing population of the country.
In 2023, the European Bank for Reconstruction and Development forecasted that Mongolia's economy would see 7.2% growth in 2023 and 7.5% in 2024. [19] Under the New Recovery Policy, Mongolia has already built the Zuunbayan-Khangi rail link, which opened in November 2022, and started construction on the New Settlement Zone of Khushigt Valley.
This is a list of countries by real GDP per capita growth rate. These numbers take into account inflation and population growth rate but not purchasing power parity . [ 2 ] This list is not to be confused with gross national income per capita growth [ 3 ] or the real GDP growth .
Mongolia's copper and gold production rates from 2007 through 2011 Mining is important to the national economy of Mongolia . Mongolia is one of the 29 resource-rich developing countries identified by the International Monetary Fund [ 1 ] and exploration of copper and coal deposits are generating substantial additional revenue.
The Law on Mining Products Exchange was approved by the Parliament of Mongolia and is effective June 30, 2023, to organize the open, transparent, and fair trading of mining products, to create opportunities for real market prices to be established, and to increase the industry's contribution to the country's economic growth.
1 September – Pope Francis arrives in Mongolia, marking the first papal visit to the country, which has a small Catholic population. [ 2 ] 14 September – The official opening of Center for the Development of People with Disabilities in Darkhan City, Darkhan-Uul Province.