Capacity Building On The Natural Resource And Mining In Mongolia Policy Recommendations

Authors: Economic Research Institute

Source: Economic Research Institute

Language: English


Date: 2021-04-22

In many resource-rich countries, the mining sector is a large contributor to economic growth and social development. In particular, the mining sector can significantly benefit the national economy and local communities in various ways.

Among other transitioning and developing countries, Mongolia benefits greatly from the mining sector as the sector accounts for 88% of its export and 22% of the national GDP (EBRD, 2017). In comparison, other transitioning central Asian countries such as Kazakhstan and Kyrgyzstan derive only 18% and 11% of their respective GDP and 12% and 45% of their exports from mining. These indicators are much lower for Russia, Armenia, Tajikistan, Ukraine and many others. As such, Mongolia’s mining sector makes up a large majority of the economy, comparable to countries such as Kuwait where the mining sector accounts for 92% of exports and Saudi Arabia where the mining sector makes up 15% of GDP.

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