Mongolia: Trade and Investment Profile
The Mongolian economy has experienced rapid growth thanks to its extensive mineral deposits and growth in mining-related activities which transformed the economy, which traditionally has been dependent on herding and agriculture.
The economy has grown more than 10% per year since 2010, largely on the strength of commodity exports to nearby countries and high government spending domestically. Mongolia’s economy, however, faces near-term economic risks from the government’s loose fiscal and monetary policies, which are contributing to high inflation, and from uncertainties in foreign demand for Mongolian exports.
Trade with China represents more than half of Mongolia’s total external trade – China receives more than 90% of Mongolia’s exports and is Mongolia’s largest supplier. Mongolia has traditionally relied on Russia for energy supplies, leaving it vulnerable to price increases and geopolitical influence.
Despite this there are many example of successful trade and investment opportunities in this emerging economy.
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