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Australia vs Mongolia: Economic Indicators Comparison

Australia with a GDP of $1.4T ranked the 13th largest economy in the world, while Mongolia ranked 134th with $13.1B. By GDP 5-years average growth and GDP per capita, Australia and Mongolia ranked 111st vs 39th and 13th vs 118th, respectively.

Gross Domestic Product & Income

StatAustraliaMongolia
GDP$1.4T$13.1B
GDP growth, 1 year2.8%6.9%
GDP growth, 5-years average2.6%4.7%
Population23.4M3.1M
GDP per capita$57k$4.1k
GDP per capita growth1.33%5.32%
Purchasing Power Parity conversion factor1.43738.48
Price level ratio of PPP conversion factor GDP to market exchange rate1.110.3
GDP per capita, PPP adjusted$52k$13k
GNI, Atlas method$1.3T$11.6B
GNI per capita$53k$3.7k
GNI, PPP adjusted$1.3T$39.6B
GNI per capita, PPP adjusted$50k$13k

Financial system and Human development

StatAustraliaMongolia
Income Tax Rate45%10%
Corporate Tax Rate30%25%
Inflation, consumer prices2%7.7%
Inflation, GDP deflator1.9%8.1%
Unemployment5.4%6.3%
Economic Freedom Index82.655.9
Personal Freedom Index9.297.63
Human Freedom Index8.737.17
Property Rights Index82.850.3
Judical Effectiveness Index86.123
Business Freedom Index87.863.6
Fiscal Health Index91.89.3
Labor Freedom Index8475.7
Investment Freedom Index8050
Financial Freedom Index9060
Trade Freedom Index88.274
Monetary Freedom Index86.274.2
Government Spending Index61.666.6
Tax Burden Index6387.4
Government Integrity Index89.336.9
Corruption Perceptions Index7737
Life expectancy at birth, years82.569.5
Suicide mortality rate, per 100,000 people13.213
Mortality caused by road traffic injury, per 100,000 people5.616.5
Intentional homicides, per 100,000 people0.86.2
International tourism, number of arrivals9.2M529k

Government debt & reserves

StatAustraliaMongolia
Central government debt, % of GDP40.7%73.3%
External debt stocks, % of GNIN/A253.9%
External debt stocksN/A$29.4B
Short-term debt, % of total reservesN/A87.3%
Total debt service, % of exports and primary incomeN/A101.6%
Adjusted net savings including particulate emission damage, % of GNI5.6%-10.3%
Gross savings, % of GDP21.7%30.3%
Gross capital formation, % of GDP24.5%43.1%
Total reserves including gold$53.9B$3.5B
Foreign direct investment net inflows$60.3B$2B

Exports, imports and economic structure

StatAustraliaMongolia
Exports of goods and services, % of GDP21.8%58.7%
Imports of goods and services, % of GDP21.4%64.2%
Current account balance (balance of payments)-$29.7B-$1.9B
Revenue excluding grants, % of GDP25.7%24.9%
Grants excluding technical cooperation, BoPN/A$115.6M
Personal remittances received$1.9B$440.6M
Industry including construction value added, % of GDP24.1%38.7%
Agriculture, forestry and fishing value added, % of GDP2.5%10.8%
Charges for the use of intellectual property, payments BoP$3.6B$16.1M
Charges for the use of intellectual property, receipts BoP$973.4M$1.4M
Expense, % of GDP26.1%23.8%
Government Expenditure, % of GDP35.8%33.4%

Compare with countries close by GDP per capita

Australia vs

CountryGDP
per capita
Population
Liechtenstein
$165k
37.9k
Luxembourg
$117k
614k
Switzerland
$83k
8.21M
Norway
$82k
5.33M
Cayman Islands
$81k
58.4k
Ireland
$79k
4.76M
Iceland
$73k
357k
Qatar
$69k
2.17M
Singapore
$65k
5.89M
United States
$63k
325M
Denmark
$61k
5.83M
Sweden
$55k
10.3M
Netherlands
$53k
17.2M
Austria
$51k
8.81M
Finland
$50k
5.5M
San Marino
$48k
31.6k
Germany
$48k
83M
Belgium
$48k
11.2M
Canada
$46k
35.7M
United Arab Emirates
$43k
9.35M
United Kingdom
$43k
65.1M
Andorra
$42k
76.2k
New Zealand
$42k
4.89M
Israel
$42k
8.89M
France
$41k
66.6M
Japan
$39k
127M
Italy
$34k
60.6M
Kuwait
$34k
4.66M
Bahamas
$32k
377k
Brunei
$32k
418k

Mongolia vs

CountryGDP
per capita
Population
Iraq
$5.8k
33.4M
Paraguay
$5.8k
6.8M
Iran
$5.6k
77.4M
Jamaica
$5.4k
2.89M
Albania
$5.3k
3.02M
Guyana
$5k
800k
Belize
$4.9k
375k
Azerbaijan
$4.7k
10M
Georgia
$4.7k
3.72M
Guatemala
$4.5k
15.5M
Tonga
$4.4k
105k
Jordan
$4.2k
10.4M
Armenia
$4.2k
2.93M
Samoa
$4.2k
190k
Eswatini
$4.1k
1.37M
Algeria
$4.1k
41.3M
Sri Lanka
$4.1k
21.4M
El Salvador
$4.1k
6.34M
Indonesia
$3.9k
264M
Marshall Islands
$3.8k
52.6k
Tuvalu
$3.7k
9.88k
Cape Verde
$3.6k
546k
Bolivia
$3.5k
11.1M
Tunisia
$3.4k
11.6M
Angola
$3.4k
29.8M
Bhutan
$3.2k
754k
Morocco
$3.2k
36M
Moldova
$3.2k
2.55M
Palestine
$3.2k
4.68M
Vanuatu
$3.1k
276k