Market Research In Mongolia

Mongolia Profile:

  • Mongolia is a landlocked unitary sovereign state in East Asia and is divided into 21 provinces.
  • Mongolia is the 18th largest and the most sparsely populated fully sovereign country in the world and is also the world’s second-largest landlocked country and the largest landlocked country that does not border a closed sea.
  • The government has focused a great deal on encouraging foreign investments and trade.
  • The grey economy is estimated to be at least one-third the size of the official economy.
  • The current government has made restoring investor trust and reviving the economy its top priority, but has failed to invigorate the economy in the face of the large drop-off in foreign direct investment, mounting external debt, and a sizeable budget deficit.

Mongolia Economy:

  • Mongolia is ranked as the lower middle-income economy by the World Bank.
  • Extensive deposits of copper, gold, coal, molybdenum, fluorspar, uranium, tin, and tungsten have transformed Mongolia’s landlocked economy from its traditional dependence on herding and agriculture.
  • The economy had grown more than 10% per year between 2011 and 2013 – largely on the strength of commodity exports and high government spending – before slowing to 7.8% in 2014, 2.3% in 2015, and 1% in 2016.
  • Remittances from Mongolians working abroad, particularly in South Korea, are significant.
  • Despite the growth, the proportion of the population below the poverty line was estimated to be 35.6% in 1998, 36.1% in 2002–2003, and 32.2% in 2006.

Mongolia Facts:

  • Population: 3.1 million
  • Capital: Ulaanbaatar
  • Largest city: Ulaanbaatar
  • Area: 1,564,116 sq km
  • Major language: Mongolian 90% (official), Turkic, Russian
  • Major religion: Buddhist 53%, Muslim 3%, Shamanist 2.9%, Christian 2.2%, other 0.4%
  • Life expectancy: 65.7 years (Male), 74.4 years (Female)
  • Monetary unit: 1 Togrog (MNT) = 100 Möngö
  • Main exports: Copper, apparel, livestock, animal products, cashmere, wool, hides, fluorspar, other nonferrous metals, coal, crude oil
  • GNI per Capita: $11,450

Our Market Research Services in Mongolia:

We Employ A Wide Range of Research Techniques in Mongolia:

How Can We Help You?

Contact us at Global Vox Populi and submit a business inquiry online.

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