Mongolia

Mongolia is a country located in Northern Asia, between China and Russia, covering an area of approximately 1.56 million square kilometers. As of 2024, Mongolia has a population of about 3.28 million, with Mongolian as the official language spoken by 90% of the population. The country features vast semidesert and desert plains, grassy steppe, and mountains in the west and southwest, including the Gobi Desert, with a desert continental climate of large daily and seasonal temperature ranges. Ulaanbaatar serves as the capital, and the government operates as a semi-presidential republic.

Mongolia has a lower-middle-income economy with a GDP of $23.59 billion and a GDP per capita of $16,800, driven by mining of coal, copper, molybdenum, fluorspar, tin, tungsten, and gold, as well as construction, oil, food and beverages, and cashmere manufacturing. Key agricultural products include milk, wheat, lamb, potatoes, and beef, while natural resources include oil, coal, copper, molybdenum, tungsten, gold, silver, and iron. The unemployment rate is 5.2% as of 2025, with a literacy rate of 98.6% and life expectancy of 72.4 years. Mongolia has seen large human capital improvements over the last three decades and is rich in agricultural and natural resources.