Skip to content

Economy of Bangladesh vs Mongolia compared: GDP & Debt

Updated on by Georank team

Bangladesh has a GDP of $450B compared to $23.8B for Mongolia, ranking 36/197 and 121/197 by economy size, respectively.

Bangladesh has $184B in government debt (41% of GDP), compared to $10.5B (44.1% of GDP) in Mongolia.

Bangladesh vs Mongolia GDP by year

Bangladesh
Mongolia
1x
Year GDP, current $
Bangladesh Mongolia
2024 $450,119,432,069 $23,794,540,025
2023 $437,415,333,018 $20,325,121,394
2022 $460,131,689,083 $17,146,471,714
2021 $416,271,647,911 $15,286,441,738
2020 $373,979,442,362 $13,312,981,429
2019 $351,231,654,604 $14,206,359,018
2018 $321,362,752,442 $13,178,094,720
2017 $293,732,446,625 $11,480,847,741
2016 $265,224,515,675 $11,181,350,649
2015 $195,146,608,978 $11,619,892,591
2014 $172,886,611,654 $12,226,514,668
2013 $149,998,957,434 $12,582,122,604
2012 $133,310,747,603 $12,292,770,632
2011 $128,607,482,310 $10,409,797,378
2010 $115,275,540,051 $7,189,481,999
2009 $102,475,158,191 $4,583,850,368
2008 $91,636,997,371 $5,623,216,608
2007 $79,611,644,975 $4,234,999,704
2006 $71,795,736,172 $3,414,055,662
2005 $69,476,001,239 $2,523,471,601
2004 $65,108,544,250 $1,992,066,808
2003 $60,158,929,188 $1,595,297,356
2002 $54,724,081,491 $1,396,555,720
2001 $53,991,289,844 $1,267,997,934
2000 $53,369,787,319 $1,136,896,124
1999 $51,270,569,884 $1,057,408,589
1998 $49,984,559,471 $1,124,440,205
1997 $48,244,309,133 $1,180,934,203
1996 $46,438,484,108 $1,345,719,472
1995 $37,939,748,769 $1,452,165,005
1994 $33,768,660,883 $925,817,092
1993 $33,166,519,418 $768,401,634
1992 $31,708,874,594 $1,317,611,864
1991 $30,957,483,950 $2,379,018,326
1990 $31,598,340,778 $2,560,785,660
1989 $28,781,715,189 $3,576,966,800
1988 $26,579,005,558 $3,204,461,567
1987 $24,298,032,258 $3,020,611,600
1986 $21,774,033,333 $2,896,178,867
1985 $22,278,423,077 $2,186,505,475
1984 $18,920,840,000 $2,098,734,600
1983 $17,609,048,822 $2,725,736,633
1982 $18,525,399,202 $2,552,401,933
1981 $20,249,694,002 $2,310,099,100
1980 $18,138,049,096 $2,101,394,100
1979 $15,565,480,322 -
1978 $13,281,767,143 -
1977 $9,651,149,302 -
1976 $10,117,113,333 -
1975 $19,448,348,073 -
1974 $12,512,460,520 -
1973 $8,086,725,729 -
1972 $6,288,245,867 -
1971 $8,751,843,188 -
1970 $8,992,722,167 -
1969 $8,471,006,438 -
1968 $7,483,685,771 -
1967 $7,253,575,688 -
1966 $6,439,687,854 -
1965 $5,906,636,792 -
1964 $5,386,054,833 -
1963 $5,319,458,563 -
1962 $5,081,413,542 -
1961 $4,817,580,375 -
1960 $4,274,894,083 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/bangladesh/mongolia | CC BY

GDP per capita in Bangladesh vs Mongolia by year

Bangladesh
GDP per capita

GDP per capita, PPP
Mongolia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Bangladesh Mongolia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $2,593 $9,647 $6,751 $19,145
2023 $2,551 $9,148 $5,839 $18,005
2022 $2,716 $8,451 $4,994 $16,402
2021 $2,483 $7,441 $4,518 $14,792
2020 $2,249 $6,641 $4,001 $13,693
2019 $2,130 $6,047 $4,348 $13,605
2018 $1,965 $5,490 $4,108 $12,317
2017 $1,811 $4,883 $3,646 $11,096
2016 $1,649 $4,579 $3,620 $10,511
2015 $1,224 $4,212 $3,839 $10,458
2014 $1,094 $3,973 $4,126 $10,900
2013 $958 $3,691 $4,340 $10,442
2012 $860 $3,434 $4,329 $10,152
2011 $837 $3,051 $3,736 $8,862
2010 $757 $2,834 $2,625 $7,532
2009 $679 $2,675 $1,703 $7,119
2008 $613 $2,555 $2,127 $7,297
2007 $538 $2,388 $1,628 $6,678
2006 $490 $2,195 $1,330 $5,977
2005 $480 $2,020 $995 $5,406
2004 $456 $1,862 $794 $4,942
2003 $427 $1,746 $643 $4,399
2002 $394 $1,659 $570 $4,083
2001 $395 $1,598 $524 $3,889
2000 $397 $1,512 $476 $3,740
1999 $388 $1,430 $449 $3,664
1998 $386 $1,373 $484 $3,555
1997 $379 $1,315 $515 $3,449
1996 $372 $1,261 $596 $3,310
1995 $309 $1,206 $653 $3,229
1994 $280.6 $1,145 $423 $3,021
1993 $280.8 $1,099 $355 $2,929
1992 $273.5 $1,045 $608 $2,951
1991 $272.1 $987 $1,099 $3,183
1990 $283.1 $941 $1,220 $3,479
1989 $263 - $1,684 -
1988 $247.9 - $1,543 -
1987 $231.5 - $1,493 -
1986 $212.1 - $1,469 -
1985 $222.2 - $1,138 -
1984 $193.4 - $1,120 -
1983 $184.7 - $1,490 -
1982 $199.6 - $1,430 -
1981 $224.2 - $1,325 -
1980 $206.1 - $1,235 -
1979 $181.1 - - -
1978 $158.3 - - -
1977 $117.9 - - -
1976 $126.7 - - -
1975 $249.8 - - -
1974 $165 - - -
1973 $109.7 - - -
1972 $87.8 - - -
1971 $124.5 - - -
1970 $130.2 - - -
1969 $125.9 - - -
1968 $114.4 - - -
1967 $114.2 - - -
1966 $104.4 - - -
1965 $98.6 - - -
1964 $92.6 - - -
1963 $94.1 - - -
1962 $92.6 - - -
1961 $90.4 - - -
1960 $82.5 - - -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/bangladesh/mongolia | CC BY

Bangladesh's GDP per capita is $2,593, ranking 146/197, compared to $6,751 in Mongolia, ranking 105/197. Adjusted for purchasing power (GDP per capita PPP), Bangladesh ranks 135th at $9,647, while Mongolia ranks 98th at $19,145.

Economic indicators

Bangladesh Mongolia
Gross domestic product
$450B
2024
$23.8B
2024
GDP rank
36/197
2024
121/197
2024
GDP growth
4.22%
2023-2024
5.12%
2023-2024
GDP per capita
$2,593
2024
$6,751
2024
GDP per capita rank
146/197
2024
105/197
2024
GDP per capita, PPP
$9,647
2024
$19,145
2024
GDP per capita PPP rank
135/197
2024
98/197
2024
Government debt
$184B
2024
$10.5B
2024
Debt-to-GDP ratio
41%
2024
44.1%
2024
Government debt per person
$1,063
2024
$2,974
2024
Government debt per person rank
139/185
2024
101/185
2024
Average annual personal income after taxes
$2,222
2026
$5,311
2026
Market capitalization of domestic companies
$87.9B
2024
n/a
Income share by richest 10%
25.5%
2022
24.6%
2022
Income share by poorest 10%
3.7%
2022
3.4%
2022
Government expenditure, % of GDP
12%
2024
37.5%
2024
Consumer prices inflation
9.7%
2023-2024
6.2%
2023-2024
Central bank interest rate
10%
2024
12%
2025
Unemployment rate
3.64%
2024
5.81%
2024
Population
178415186
3620317

Spending and national debt comparison by year

Bangladesh
Spending

Debt
Mongolia
Spending

Debt
1x
Year % of GDP
Bangladesh Mongolia
Government spending Government debt Government spending Government debt
2024 12% 41% 37.5% 44.1%
2023 12.6% 39.7% 31.9% 46.7%
2022 13% 37.9% 33.7% 64.6%
2021 12.9% 35.6% 35.9% 67.4%
2020 13.3% 34.5% 37.1% 83.4%
2019 13.6% 32% 30.8% 66.8%
2018 13% 29.6% 28.4% 76.5%
2017 12.2% 28.3% 32.2% 86.9%
2016 11.6% 27.7% 39.7% 78.7%
2015 11.5% 28.2% 31.2% 50.5%
2014 11.7% 28.7% 32.1% 44%
2013 12.1% 28.3% 32.2% 49.4%
2012 11.7% 29.1% 36.1% 43.7%
2011 11.5% 29.4% 37.9% 32.7%
2010 10.6% 29.6% 31.6% 31%
2009 10.6% 33% 35.5% 48.5%
2008 11.5% 33.9% 37.6% 31%
2007 9.63% 35% 35.3% 36.1%
2006 10.1% 35.3% 26.2% 40.9%
2005 10.3% 35.6% 25.1% 55.9%
2004 9.88% 36.6% 31.8% 75%
2003 10.2% 37% 33.7% 90%
2002 10.4% 38.9% 35.5% 72%
2001 10.7% 37.1% 35.2% 69.2%
2000 9.76% 31.2% 34.5% 79.3%
1999 8.66% 32.7% 33.2% 103.7%
1998 9.82% 31.1% 36.2% 77.5%
1997 9.89% 29.1% 30.8% 61%
1996 9.79% 31% 28.6% 49.7%
1995 10.5% 32.9% 26.6% 40.2%
1994 10% 35.5% 32.2% 57.6%
1993 9.74% 34.1% 38.3% 57.8%
1992 8.8% 33.1% 29.1% 29.3%
1991 8.86% 31.8% 46% -
1990 9.14% 31.5% 51.7% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1990–2005, retrieved 2026-02-20).

GeoRank.org/economy/bangladesh/mongolia | CC BY

In 2024, Bangladesh's government spending was $54.2B, accounting for 12% of its GDP, while Mongolia spent $8.92B, or 37.5% of GDP.

Debt-to-GDP ratio is 41% in Bangladesh and 44.1% in Mongolia, ranking 131/185 and 122/185, respectively.

Government deficit by year

Deficit/surplus
Bangladesh

Mongolia
1x
Year Deficit/surplus, % of GDP
Bangladesh Mongolia
2024 -3.69% 1.39%
2023 -4.39% 2.73%
2022 -4.53% 0.67%
2021 -3.56% -3.05%
2020 -4.84% -9.24%
2019 -5.41% 1%
2018 -4.07% 2.85%
2017 -4.17% -3.72%
2016 -3.16% -15.3%
2015 -3.29% -5.04%
2014 -2.62% -3.73%
2013 -2.86% -0.93%
2012 -2.56% -6.24%
2011 -2.96% -4.01%
2010 -2.23% 0.43%
2009 -2.68% -5.2%
2008 -3.36% -4.52%
2007 -1.86% 2.64%
2006 -2.15% 7.58%
2005 -2.4% 2.43%
2004 -2.21% -1.62%
2003 -1.96% -3.38%
2002 -2.3% -4.74%
2001 -3.44% -4.33%
2000 -2.5% -5.82%
1999 -1.35% -9.91%
1998 -2.2% -12.3%
1997 -1.94% -8.09%
1996 -2.01% -6.88%
1995 -0.38% -4.97%
1994 0.03% -9.74%
1993 0.43% -13.3%
1992 0.36% -8.1%
1991 0.44% -6.37%
1990 -0.15% -9.37%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/bangladesh/mongolia | CC BY

In 2024, Bangladesh's government deficit, the difference between spending and revenue, was $16.6B, equivalent to 3.69% of GDP. This compares to Mongolia's surplus of $332M, or 1.39% of GDP.

Over the past 35 years, Bangladesh recorded a fiscal deficit in 31 of those years, while Mongolia ran a deficit in 26 years. On average, Bangladesh posted an annual deficit equal to 2.46% of GDP, compared to deficit of 4.23% of GDP for Mongolia.

Inflation comparison by year

Inflation
Bangladesh

Mongolia
1x
Year Consumer prices inflation
Bangladesh Mongolia
2024 9.7% 6.2%
2023 9% 10.4%
2022 6.1% 15.1%
2021 5.6% 7.4%
2020 5.6% 3.7%
2019 5.5% 7.3%
2018 5.8% 6.8%
2017 5.4% 4.3%
2016 5.9% 0.8%
2015 6.4% 6.8%
2014 7.3% 12.9%
2013 6.8% 10.6%
2012 8.9% 13.8%
2011 8.8% 8.8%
2010 7.3% 8.3%
2009 6.7% 7.6%
2008 9.9% 28%
2007 7.2% 9.6%
2006 7.2% 4.4%
2005 6.5% 12.6%
2004 8.1% 8.3%
2003 3.9% 5.2%
2002 2.4% 0.9%
2001 1.8% 6.4%
2000 3.6% 11.3%
1999 8.9% 7.6%
1998 6.7% 9.5%
1997 2.7% 30%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20).

GeoRank.org/economy/bangladesh/mongolia | CC BY

Over the past 28 years, Bangladesh has recorded an average annual inflation rate of 6.42%, compared with 9.45% in Mongolia. In 2024, inflation was 9.7% in Bangladesh and 6.2% in Mongolia.

Top exports between countries

Bangladesh
Export category Export value
Textiles & consumer goods $312K
Chemicals & pharma $151K
Processed food, beverages & tobacco $25K
Mongolia
Export category Export value

Balance of trade

Bangladesh Mongolia
Current account balance
$1.43B
2024
-$2.49B
2024
Current account balance ranking
52/190
2024
149/190
2024
Current account balance, % of GDP
+0.32%
2024
-10.4%
2024
Goods imports
$63.8B
2024
$11.7B
2024
Goods exports
$47.3B
2024
$14.7B
2024
Service imports
$12.3B
2024
$4.92B
2024
Service exports
$7.47B
2024
$1.6B
2024
Imports of goods and services, % of GDP
16.3%
2024
69.7%
2024
Exports of goods and services, % of GDP
10.5%
2024
68.7%
2024

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Bangladesh Mongolia
Economic freedom 54.8 63.9
Economic freedom ranking 131/197 76/197
Property rights 32.1 49.2
Government integrity 22.7 35.8
Judicial effectiveness 36.7 54.9
Tax burden 79.9 83.7
Government spending 95.3 64.6
Fiscal health 68.4 96.1
Business freedom 52.7 68.4
Labor freedom 50.5 68.2
Monetary freedom 65.8 72.1
Trade freedom 63 74.4
Investment freedom 50 50
Financial freedom 40 50

Economic freedom comparison by year

Bangladesh
Mongolia
1x
Year Economic freedom index
Bangladesh Mongolia
2026 54.8 63.9
2025 54.7 62.6
2024 54.4 60.6
2023 54.4 61.7
2022 52.7 63.9
2021 56.5 62.4
2020 56.4 55.9
2019 55.6 55.4
2018 55.1 55.7
2017 55 54.8
2016 53.3 59.4
2015 53.9 59.2
2014 54.1 58.9
2013 52.6 61.7
2012 53.2 61.5
2011 53 59.5
2010 51.1 60
2009 47.5 62.8
2008 44.2 63.6
2007 46.7 60.3
2006 52.9 62.4
2005 47.5 59.7
2004 50 56.5
2003 49.3 57.7
2002 51.9 56.7
2001 51.2 56
2000 48.9 58.5
1999 50 58.6
1998 52 57.3
1997 49.9 52.9
1996 51.1 47.4
1995 40.9 47.8

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

GeoRank.org/economy/bangladesh/mongolia | CC BY

The Economic Freedom Index for Bangladesh is 54.8, ranking 131/197, compared to 63.9 for Mongolia, ranking 76/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Bangladesh Mongolia
Services, % of GDP
51.4%
2024
44.3%
2024
Industry, % of GDP
34.1%
2024
38.1%
2024
Agriculture, forestry, and fishing, % of GDP
11.2%
2024
7.29%
2024
GNI, Atlas method
$490B
2024
$19B
2024
GNI per capita, PPP
$10,060
2024
$17,000
2024
Total reserves including gold
$21.4B
2024
$5.51B
2024
Total reserves ranking
61/177
2024
95/177
2024
Net foreign direct investment
-$1.49B
2024
-$2.73B
2024
Net inflows of foreign direct investment
$1.31B
2024
$2.78B
2024
Net outflows of foreign direct investment
$34.1M
2024
$55.5M
2024
Servicing debt to the IMF, % of GNI
1.83%
2024
25.7%
2024
Poverty at national poverty lines
18.7%
2022
27.1%
2022
Gross capital formation, % of GDP
30.7%
2024
35.5%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/bangladesh/mongolia | CC BY

Compare countries by 7 more topics

Help us show the world through your eyes

Share a photo of your city and help others discover what it looks like to live there. Your contribution makes our data come alive.

Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. International Monetary Fund (IMF) | Public Finances in Modern History (1990–2005, retrieved 2026-02-20)
  6. TradeMap (2015, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.