Mongolia

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Mongolia spreads across 1.5 million square kilometers of the Central Asian plateau, strategically bordering the Russian Federation in the north and the People's Republic of China in the south. Much of its land area is covered by steppes, with high mountains and valleys to the north and west, and the Gobi desert to the south. Mongolia has rich mineral resources such as gold and copper, and abundant animal origin raw materials especially the world-famous cashmere, wool, and leather.

Source: Ministry of Nature, Environment and Tourism; Foreign Investment and Foreign Trade Agency.

Feature

Four Mongolian banks signed key trade finance agreements under the Asian Development Bank's Trade Finance Facilitation Program to help companies in Mongolia conduct more international trade. [more...]

Economic Outlook

The highlight from the Asian Development Outlook 2010:
After contracting for the first 3 quarters of 2009, the economy started to recover late in the year as global commodity prices picked up and the government adopted an extensive policy reform program. The economy is forecast to return to solid growth this year and next, spurred by development of a large copper and gold mining project. Inflation faded in 2009 but will accelerate this year. Domestic risks to the outlook center on weaknesses in the banking system and possible fiscal pressures. Read more.

3.12.1 GDP growth by sector