IMD World Competitiveness Booklet 2023

Competitiveness Country Profiles

Mongolia Competitiveness Trends – Overall

OVERALL PERFORMANCE (64 countries)

BASIC FACTS

Rank

2019

2020

2021

2022

2023

Capital Land area (square km '000)

Ulaanbaatar

1.564 2022

60

61

61

2022

Exchange rate (per $)

2.849,370

62

62

3,46 2022 54 18,6 2022 64 13.627 2022 60 4,8 2022 27 15,15 2022 57 5,30 2022 34 1,22 2022 56 -14,30 2022 64 26,3 2021 58 14,40 2021 06

Population - market size (millions)

Gross Domestic Product (GDP) (US$ billions)

CHALLENGES IN 2023

GDP (PPP) per capita (US$)

• Inflation is still high and persistent, pushing the Central Bank to tighten lending. • Persisting social challenges such as poverty, unemployment and inequality remain high. • Exchange rate is high and unpredictable, making investment decisions harder. • Geopolitical tensions resulting from Russo-Ukrainian War and tension between Beijing and Taipei could negatively impact the Mongolian economy. • Dependency on political cycle leading up to elections may create economic disruption.

Real GDP growth (%)

Consumer price inflation (%)

Unemployment rate (%)

Labor force (millions)

Current account balance (% of GDP)

Direct investment stocks inward ($bn)

Direct investment flows inward (% of GDP)

PROVIDED BY: Economic Policy and Competitiveness Research Center

COMPETITIVENESS LANDSCAPE

Economic Performance Government Efficiency

Business Efficiency

Infrastructure

Domestic Economy

International Trade

International Investment Employment Prices

Public Finance Tax Policy

Institutional Framework Business Legislation

Societal Framework

Productivity & Efficiency Labor Market Finance

Management Practices Attitudes & Values

Basic Infrastructure

Technological Infrastructure Scientific Infrastructure

Health & Environment Education

4

29

39

49

54 59

56

59 63 64 64 56

61 59

62 63 62 64

64 61

PEER GROUPS RANKINGS ASIA - PACIFIC (14 countries)

POPULATIONS < 20 MILLION (37 countries)

2019

2020

2021

2022

2023

2019

2020

2021

2022

2023

34

34

34

36

37

14

14

14

14

14

95