Mongolia – Fast Facts
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Mongolia is a Lower income economies coming under the East Asia and the Pacific region as to the classification made by the World Bank on the basis of income and region for the year 2006.
Poor infrastructure has hampered the country’s economic progress. In 1980 the country had adopted the economic reforms process. As to statistics, the services sector constitutes the highest share in the GDP of the country’s economy. The industries sector of the country’s economy is experiencing a better growth in the recent years.
Mongolia is a Lower income economies coming under the East Asia and the Pacific region as to the classification made by the World Bank on the basis of income and region for the year 2006.
Poor infrastructure has hampered the country’s economic progress. In 1980 the country had adopted the economic reforms process. As to statistics, the services sector constitutes the highest share in the GDP of the country’s economy. The industries sector of the country’s economy is experiencing a better growth in the recent years.
Grain production is the major agricultural activity in the country. Important industries are oil, food, mining, and construction materials. The country has huge reserves of coal, fluorspar, tungsten, and copper.
