Names: conventional long form: none conventional short form: Mongolia local long form: none local short form: Mongol Uls former: Outer Mongolia

Capital City: Ulaanbaatar

Population: 2,832,224 (July 2006 est.)

GDP Per Capita: $2,000 (2006 est.)

Currency: togrog/tugrik (MNT)

Languages: Khalkha Mongol 90%, Turkic, Russian (1999)

Total Area: total: 1,564,116 sq km slightly smaller than Alaska

Region: Asia

Industries: construction and construction materials; mining (coal, copper, molybdenum, fluorspar, tin, tungsten, and gold); oil; food and beverages; processing of animal products, cashmere and natural fiber manufacturing

Agriculture: wheat, barley, vegetables, forage crops; sheep, goats, cattle, camels, horses

Resources: oil, coal, copper, molybdenum, tungsten, phosphates, tin, nickel, zinc, fluorspar, gold, silver, iron

Labor Force: 1.488 million (2003)
herding/agriculture 42%, mining 42%, manufacturing 6%, trade 4%, services 29%, public sector 6% (2003)

Exports: $852 million f.o.b. (2004 est.)
copper, apparel, livestock, animal products, cashmere, wool, hides, fluorspar, other nonferrous metals

Imports: $1.011 billion c.i.f. (2004 est.)
machinery and equipment, fuel, cars, food products, industrial consumer goods, chemicals, building materials, sugar, tea

Overview: Economic activity in Mongolia has traditionally been based on herding and agriculture. Mongolia has extensive mineral deposits. Copper, coal, molybdenum, tin, tungsten and gold account for a large part of industrial production. Soviet assistance, at its height one-third of GDP, disappeared almost overnight in 1990 and 1991 at the time of the dismantlement of the USSR. The following decade saw Mongolia endure both deep recession due to political inaction and natural disasters, as well as economic growth because of reform-embracing, free-market economics and extensive privatization of the formerly state-run economy. Severe winters and summer droughts in 2000-2002 resulted in massive livestock die-off and zero or negative GDP growth. This was compounded by falling prices for Mongolia's primary sector exports and widespread opposition to privatization. Growth was 10.6% in 2004, 5.5% in 2005, and 7.5% in 2006, largely because of high copper prices and new gold production. Mongolia's economy continues to be heavily influenced by its neighbors. For example, Mongolia purchases 80% of its petroleum products and a substantial amount of electric power from Russia, leaving it vulnerable to price increases. China is Mongolia's chief export partner and a main source of the "shadow" or "grey" economy. The World Bank and other international financial institutions estimate the grey economy to be at least equal to that of the official economy, but the former's actual size is difficult to calculate since the money does not pass through the hands of tax authorities or the banking sector. Remittances from Mongolians working abroad both legally and illegally are sizeable, and money laundering is a growing concern. Mongolia settled its $11 billion debt with Russia at the end of 2003 on favorable terms. Mongolia, which joined the World Trade Organization in 1997, seeks to expand its participation and integration into Asian regional economic and trade regimes.

_{CIA World Book}

In 2007 Missouri exported $49,691 in goods to Mongolia. This ranks Mongolia 111^th among the 223 international buyers of Missouri goods. Missouri exports to Mongolia decreased from the previous year by $6,091 a change of -10.92%. State exports to Mongolia have decreased over the last 5 years by $76.425 a change of -60.60%. Missouri exports account for .00%. of all 2007 US exports to Mongolia.