Mongolia

Mongolia is a sparsely populated, landlocked economy whose fortunes ride on vast mineral wealth — coal, copper, and gold — exported almost entirely to neighboring China.

This dependence on mining and on a single market makes the economy volatile, and the government has worked to diversify and manage the boom-and-bust swings of commodity prices.

Key Sectors

The economy is dominated by mining (coal, copper, gold), alongside the traditional herding of livestock — cashmere is a notable export — and a small tourism sector.