Mining in the economy
Mining is the largest part of Mongolia's economy and budget, but it employs few people. This section shows the size of that gap.
How to read: every chart has its source. Press a word with a dotted underline to read what it means, and “See the numbers as a table” for every value.
Exhibit 1
How much mining weighs
World Bank, 2026
25%
of GDP
≈ 90%
of exports
> 70%
of foreign direct investment
≈ 80,000
direct jobs in mining
27%
of all jobs are in agriculture
See the numbers as a table
| 25% | of GDP |
| ≈ 90% | of exports |
| > 70% | of foreign direct investment |
| ≈ 80,000 | direct jobs in mining |
| 27% | of all jobs are in agriculture |
- What it shows
- Mining's weight in Mongolia's economy, from the World Bank's 2026 private sector review.
- What it means
- Mining produces a quarter of the economy and about nine-tenths of exports, and attracts most foreign investment, but gives direct jobs to only about 80,000 people. Herding and farming still employ 27% of all workers.
- Why we care
- Mining makes money but few jobs. For most families, the benefit can only come through what the state does with mining income: dividends, the Savings Fund, schools, hospitals. That is why how the income is shared matters so much.
- Keep in mind
- Shares are rounded as the World Bank gives them. Indirect jobs in transport, services and suppliers are not counted in the 80,000.
- Terms in this chart
- Gross domestic product (GDP)The value of everything produced inside a country in a year.GDP adds up the market value of all goods and services produced within a country's borders in one year, no matter who owns the company that produced them.Full explanation →Foreign direct investment (FDI)Money a foreign company invests to own or build a business in another country.Unlike buying a few shares, FDI means a lasting stake (usually 10% or more) and some control, such as building a mine or a factory.Full explanation →
Exhibit 2
How much of the budget comes from coal
government revenue, % of GDP, 2024
- Coal-related revenue8.4%21%
- All other revenue30.8%79%
See the numbers as a table
| Coal-related revenue | 8.4% |
| All other revenue | 30.8% |
- What it shows
- Where the state's 2024 revenue came from: coal-related payments versus everything else.
- What it means
- About one in every five tögrög the state collected in 2024 came from coal: 8.4% of GDP, out of total revenue of 39.2% of GDP.
- Why we care
- Schools, hospitals, pensions and salaries depend on coal prices. When coal prices fell in 2025, the budget lost income. A fund that saves part of the coal money in good years protects public services in bad ones.
- Keep in mind
- The 21% share is our calculation from World Bank figures. It counts coal only; copper, gold and other mining add more.
- Terms in this chart
- Budget revenueAll the money the state collects in a year: taxes, royalties, fees, dividends and more.It pays for schools, hospitals, pensions, roads and salaries. Comparing it with GDP shows how big the state's income is relative to the economy.Full explanation →RoyaltyA payment to the state for the right to extract a resource, usually a share of the value sold.Minerals belong to the people, so a miner pays for every tonne it takes out. Royalties are paid whether or not the company makes a profit, which makes them a reliable source of state income.Full explanation →