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Mongolia profile

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(Last updated: 23 May 2012)

Current business situation

The Department of Foreign Affairs and Trade (DFAT) provides advice for business travellers and tourists going to Mongolia. This is regularly updated, and should be checked before planning travel.

Country facts

Capital city: Ulaanbaatar
Surface area: 1,567,000 sq km
Population: 2.8 million
Official language(s): Halh Mongol
Head of State: President HE Mr Tsakhia Elbegdorj
Head of Government: Prime Minister HE Mr Sukhbaatar Batbold
Australian exports to Mongolia: A$36,628,000
Australian imports from Mongolia: A$275,000
Mongolia's principal export destinations: China, Canada, Russian Federation
Mongolia's principal import sources: China, Russian Federation, Republic of Korea

(Source: Department of Foreign Affairs and Trade - Country economic fact sheet)
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Economic climate

Mongolia was a centrally planned, command economy until 1990, and has only had 18 years experience with free market economics. The market is very small compared to its neighbours. The main exports are cashmere, coal and fluorspar. Mongolia is a net importer from China and Russia. The biggest opportunity in the future for the economy is in the expansion of the mining and resources sector.

For the latest key economic indicators and statistics, please see the Department of Foreign Affairs and Trade country economic fact sheet.
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Trade relations and statistics

Please see the Department of Foreign Affairs and Trade country economic fact sheet for key trade statistics.
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Sidebar Content

Bribery of foreign public officials

Bribery of foreign public officials is a crime. Australian individuals and companies can be prosecuted in Australia for bribing foreign officials when overseas.

More information

OECD Guidelines for Multinational Enterprises

Multinational Enterprises should be aware of the OECD Guidelines for Multinational Enterprises that provide voluntary principles and standards for responsible business behaviour in a variety of areas, consistent with applicable domestic laws. These Guidelines are endorsed and promoted by the Australian Government. For more information, go to the AusNCP website.

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