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Overview

2020/03/10

Location: Mongolia is a land-locked country in the North-East Asia bordering China with 4.673 km in the south and Russian Federation with 3485km in the north. It is located on average altitude of 1580 meters above the sea level. Capital city is Ulaanbaatar, located in north central Mongolia, the city lies at an elevation of about 1310 meters in a valley on the Tuul river.

Climate: Mongolia is located in the Northern Hemisphere temperate zone. Situated at an average altitude of 1500m above the sea level separated from the oceans, surrounded by high mountain chains that are blocking the wet winds, Mongolia has an extreme continental climate. The winter continues long with cold temperature but summer is hot and not so long. Winter last from November to late April, Spring May through June. In May, the average temperature is 0 +6˚C, +43F, often with clear cloudless skies but windy and dry.

Geography
Mongolia is located on the high plateau of Central Asia.
The total land area of Mongolia is 1,564,116 square kilometers.

Time: Time Zone: GMT +7 to +8 hours.

Population: Population: 3.2 million (Source: Population Register)

Language: The official language of Mongolia is Mongolian, and is spoken by 95% of the population. In the west of the country, Kazakh is also spoken by 5%.

KEY FIGURES /2018/

GDP
GDP per capita - 3700 USD
Total - 11 billion USD
Growth rate - 6.9%    

FDI
Total - 23.6 billion USD
FDI - 2.4 billion USD

TRADE
Trade balance - 1.1 billion USD
Export - 7.0 billion USD
Import - 5.9 billion USD

Other Macroeconomic Figures
Inflation - 8.1%
Policy interest rate - 1.0%

Social Statistics
Unemployment - 8%