Mongolia is a landlocked country in Central Asia, located between China and Russia. Mongolia's extensive mineral deposits and attendant growth in mining-sector activities have transformed its economy, which traditionally has been dependent on herding and agriculture. Although economic activity in Mongolia has traditionally been based on herding and agriculture, the country also has extensive mineral deposits that account for a large part of its production and exports. Exports mainly comprise of mineral products, natural or cultured stones, jewellery, cashmere, animal origin products, hides and skins. Mongolia's main exports partners are China, Canada and Russia. The country maintains a trade deficit driven by imports of mineral products, machinery, equipment, electric appliances, recorders, TV sets and spare parts, vehicles, food products and base metals. Mongolia joined the World Trade Organization (WTO) in 1997.
Notes: Top 20 products listed in decreasing order of their export potential to the world. Development indicators are relative to the country’s current situation, green indicating performance above its trade-weighted median and red otherwise. A blank cell indicates that data are not available. A blank cell in export potential means that the product was not consistently demanded over five years by any country in the respective region. Exports (US$ thousand) correspond to average exports to the world over the period 2009-2013.