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Economy of Mongolia vs Romania compared: GDP & Debt

Updated on by Georank

Mongolia has a GDP of $25.4B compared to $429B for Romania, ranking 123/197 and 39/197 by economy size, respectively.

Mongolia has $11.4B in government debt (45.1% of GDP), compared to $260B (60.6% of GDP) in Romania.

Mongolia vs Romania GDP by year

Mongolia
Romania
1x
Year GDP, current $
Mongolia Romania
2025 $25,369,107,325 $428,677,977,855
2024 $23,794,540,025 $382,564,217,989
2023 $20,325,121,394 $347,757,995,759
2022 $17,146,471,714 $295,317,862,856
2021 $15,286,441,738 $285,072,444,957
2020 $13,312,981,429 $250,624,575,872
2019 $14,206,359,018 $250,080,428,512
2018 $13,178,094,720 $241,791,427,224
2017 $11,480,847,741 $210,147,385,855
2016 $11,181,350,649 $185,290,759,249
2015 $11,619,892,591 $177,885,131,240
2014 $12,226,514,668 $199,722,319,676
2013 $12,582,122,604 $189,798,603,751
2012 $12,292,770,632 $179,117,323,107
2011 $10,409,797,378 $192,623,977,894
2010 $7,189,481,999 $170,064,350,672
2009 $4,583,850,368 $174,110,532,659
2008 $5,623,216,608 $214,315,932,061
2007 $4,234,999,704 $174,588,782,939
2006 $3,414,055,662 $122,023,735,993
2005 $2,523,471,601 $98,454,380,120
2004 $1,992,066,808 $74,973,656,852
2003 $1,595,297,356 $57,806,384,143
2002 $1,396,555,720 $46,065,502,703
2001 $1,267,997,934 $40,395,116,581
2000 $1,136,896,124 $37,253,739,511
1999 $1,057,408,589 $35,953,156,754
1998 $1,124,440,205 $41,696,091,974
1997 $1,180,934,203 $35,575,214,078
1996 $1,345,719,472 $36,937,074,278
1995 $1,452,165,005 $37,430,162,103
1994 $925,817,092 $30,072,805,104
1993 $768,401,634 $26,361,160,450
1992 $1,317,611,864 $25,121,666,667
1991 $2,379,018,326 $28,850,634,900
1990 $2,560,785,660 $38,247,882,300
1989 $3,576,966,800 $41,450,777,202
1988 $3,204,461,567 $40,424,528,302
1987 $3,020,611,600 $38,067,567,568
1986 $2,896,178,867 -
1985 $2,186,505,475 -
1984 $2,098,734,600 -
1983 $2,725,736,633 -
1982 $2,552,401,933 -
1981 $2,310,099,100 -
1980 $2,101,394,100 -

Data sources: World Bank | Economy & Growth (1980–2025, retrieved 2026-07-08).

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

GDP per capita in Mongolia vs Romania by year

Mongolia
GDP per capita

GDP per capita, PPP
Romania
GDP per capita

GDP per capita, PPP
1x
Year Current $
Mongolia Romania
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $7,108 - $22,538 -
2024 $6,751 $19,145 $20,080 $49,077
2023 $5,839 $18,005 $18,244 $45,982
2022 $4,994 $16,402 $15,503 $41,979
2021 $4,518 $14,792 $14,908 $37,534
2020 $4,001 $13,693 $13,009 $34,194
2019 $4,348 $13,605 $12,910 $33,425
2018 $4,108 $12,317 $12,416 $29,383
2017 $3,646 $11,096 $10,728 $26,943
2016 $3,620 $10,511 $9,405 $23,905
2015 $3,839 $10,458 $8,977 $21,625
2014 $4,126 $10,900 $10,032 $20,633
2013 $4,340 $10,442 $9,498 $19,678
2012 $4,329 $10,152 $8,930 $19,808
2011 $3,736 $8,862 $9,561 $18,804
2010 $2,625 $7,532 $8,400 $17,355
2009 $1,703 $7,119 $8,548 $16,641
2008 $2,127 $7,297 $10,435 $16,782
2007 $1,628 $6,678 $8,360 $13,703
2006 $1,330 $5,977 $5,758 $11,554
2005 $995 $5,406 $4,618 $9,602
2004 $794 $4,942 $3,495 $8,989
2003 $643 $4,399 $2,679 $7,559
2002 $570 $4,083 $2,120 $7,162
2001 $524 $3,889 $1,825 $6,520
2000 $476 $3,740 $1,660 $5,850
1999 $449 $3,664 $1,600 $5,596
1998 $484 $3,555 $1,853 $5,545
1997 $515 $3,449 $1,577 $5,564
1996 $596 $3,310 $1,633 $5,746
1995 $653 $3,229 $1,650 $5,429
1994 $423 $3,021 $1,323 $4,995
1993 $355 $2,929 $1,158 $4,699
1992 $608 $2,951 $1,102 $4,515
1991 $1,099 $3,183 $1,254 $4,795
1990 $1,220 $3,479 $1,648 $5,280
1989 $1,684 - $1,790 -
1988 $1,543 - $1,753 -
1987 $1,493 - $1,659 -
1986 $1,469 - - -
1985 $1,138 - - -
1984 $1,120 - - -
1983 $1,490 - - -
1982 $1,430 - - -
1981 $1,325 - - -
1980 $1,235 - - -

Data sources: World Bank | Economy & Growth (1980–2025, retrieved 2026-07-08).

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

Mongolia's GDP per capita is $7,108, ranking 103/197, compared to $22,538 in Romania, ranking 57/197. Adjusted for purchasing power (GDP per capita PPP), Mongolia ranks 98th at $19,145, while Romania ranks 47th at $49,077.

Economic indicators

Mongolia Romania
Gross domestic product
$25.4B
2025
$429B
2025
GDP rank
123/197
2025
39/197
2025
GDP growth
6.84%
2024-2025
0.68%
2024-2025
GDP per capita
$7,108
2025
$22,538
2025
GDP per capita rank
103/197
2025
57/197
2025
GDP per capita, PPP
$19,145
2024
$49,077
2024
GDP per capita PPP rank
98/197
2024
47/197
2024
Government debt
$11.4B
2025
$260B
2025
Debt-to-GDP ratio
45.1%
2025
60.6%
2025
Government debt per person
$3,207
2025
$13,650
2025
Government debt per person rank
101/185
2025
48/185
2025
Average annual personal income after taxes
$7,064
2026
$13,510
2026
Market capitalization of domestic companies n/a
$70.9B
2025
Number of billionaires n/a
6
2026
Income share by richest 10%
24.6%
2022
21.8%
2023
Income share by poorest 10%
3.4%
2022
2.4%
2023
Government expenditure, % of GDP
34.6%
2025
40.5%
2025
Consumer prices inflation
8.6%
2024-2025
7.3%
2024-2025
Central bank interest rate
12%
2025
6.5%
2024
Unemployment rate
5.81%
2024
6.1%
2025
Population
3630744
18912567

Spending and national debt comparison by year

Mongolia
Spending

Debt
Romania
Spending

Debt
1x
Year % of GDP
Mongolia Romania
Government spending Government debt Government spending Government debt
2025 34.6% 45.1% 40.5% 60.6%
2024 37.5% 44.1% 40% 57.5%
2023 31.9% 46.7% 37% 52.6%
2022 33.7% 64.5% 37.5% 51.9%
2021 35.9% 67.3% 37.2% 51.8%
2020 37.1% 83.4% 38.3% 49.5%
2019 30.8% 66.8% 33.4% 36.8%
2018 28.4% 76.5% 31.9% 36.4%
2017 32.2% 86.9% 31% 37.1%
2016 39.7% 78.7% 31.8% 39.5%
2015 31.2% 50.5% 34.2% 39.4%
2014 32.1% 44% 33.8% 40.5%
2013 32.2% 49.4% 34.2% 39.3%
2012 36.1% 43.7% 33.5% 36.2%
2011 37.9% 32.7% 35% 32.6%
2010 31.6% 31% 37.4% 30.2%
2009 35.5% 48.5% 36.3% 22.5%
2008 37.6% 31% 35.3% 13%
2007 35.3% 36.1% 34.6% 12.4%
2006 26.2% 40.9% 33.9% 12.7%
2005 25.1% 55.9% 32.3% 17.8%
2004 31.8% 75% 33.7% 21.3%
2003 33.7% 90% 31.8% 24.9%
2002 35.5% 72% 32.1% 27.4%
2001 35.2% 69.2% 33.2% 27.4%
2000 34.5% 79.3% 35% 29.6%
1999 33.2% 103.7% 35.1% 21.7%
1998 36.2% 77.5% 34.7% 16.5%
1997 30.8% 61% 33.5% 15%
1996 28.6% 49.7% 33.5% 11%
1995 26.6% 40.2% 34.4% 6.91%
1994 32.2% 57.6% 33.1% -
1993 38.3% 57.8% 33.5% -
1992 29.1% 29.3% 41.5% -
1991 46% - 38.3% -
1990 51.7% - 38.4% -
1989 - - 40.1% -
1988 - - 36.6% -
1987 - - 40.7% -
1986 - - 42.5% -
1985 - - 41.6% -
1984 - - 28.6% -
1983 - - 25.8% -
1982 - - 28.5% -
1981 - - 30.4% -
1980 - - 33.6% -
1979 - - 42% -
1978 - - 42.1% -
1977 - - 39.9% -
1976 - - 37.5% -
1975 - - 40.6% -
1974 - - 37.6% -
1973 - - 32.6% -
1972 - - 29.9% -
1971 - - 27.2% -
1970 - - 28.1% -
1969 - - 32.1% -
1968 - - 31.8% -
1967 - - 30.6% -
1966 - - 27.3% -
1965 - - 25.6% -
1964 - - 25.1% -
1963 - - 23.1% -
1962 - - 43.4% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1962–2005, retrieved 2026-07-08).

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

In 2025, Mongolia's government spending was $8.78B, accounting for 34.6% of its GDP, while Romania spent $173B, or 40.5% of GDP.

Debt-to-GDP ratio is 45.1% in Mongolia and 60.6% in Romania, ranking 116/185 and 76/185, respectively.

Government deficit by year

Deficit/surplus
Mongolia

Romania
1x
Year Deficit/surplus, % of GDP
Mongolia Romania
2025 1.7% -7.64%
2024 1.39% -8.68%
2023 2.73% -5.66%
2022 0.67% -5.85%
2021 -3.05% -6.74%
2020 -9.24% -9.6%
2019 1% -4.58%
2018 2.85% -2.76%
2017 -3.72% -2.86%
2016 -15.3% -2.5%
2015 -5.04% -1.35%
2014 -3.73% -1.76%
2013 -0.93% -2.44%
2012 -6.24% -2.39%
2011 -4.01% -4.14%
2010 0.43% -6.22%
2009 -5.2% -6.86%
2008 -4.52% -4.6%
2007 2.64% -3.05%
2006 7.58% -1.36%
2005 2.43% -0.69%
2004 -1.62% -3.39%
2003 -3.38% -2.29%
2002 -4.74% -2.59%
2001 -4.33% -3.2%
2000 -5.82% -3.99%
1999 -9.91% -3.58%
1998 -12.3% -5.33%
1997 -8.09% -5.19%
1996 -6.88% -4.74%
1995 -4.97% -3.32%
1994 -9.74% -2.2%
1993 -13.3% -0.35%
1992 -8.1% -4.55%
1991 -6.37% 3.23%
1990 -9.37% 1.03%
1989 - -2.87%
1988 - 8.4%
1987 - 2.37%
1986 - 5.72%
1985 - 6.36%
1984 - 15.2%
1983 - 9.35%
1982 - 0.36%
1981 - 0.61%
1980 - -1.95%
1979 - 0%
1978 - 0%
1977 - 0.23%
1976 - 0.66%
1975 - 0.41%
1974 - 0.51%
1973 - 1.53%
1972 - 1.21%
1971 - 0.89%
1970 - 0.52%
1969 - 0.93%
1968 - 1.65%
1967 - 1.23%
1966 - 0.91%
1965 - -1.29%
1964 - -3.11%
1963 - -1.61%
1962 - -4.86%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1962–1989, retrieved 2026-07-08).

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

In 2025, Mongolia's government surplus, the difference between spending and revenue, was $432M, equivalent to 1.7% of GDP. This compares to Romania's deficit of $32.8B, or 7.64% of GDP.

Over the past 36 years, Mongolia recorded a fiscal deficit in 26 of those years, while Romania ran a deficit in 34 years. On average, Mongolia posted an annual deficit equal to 4.07% of GDP, compared to deficit of 3.67% of GDP for Romania.

Inflation comparison by year

Inflation
Mongolia

Romania
1x
Year Consumer prices inflation
Mongolia Romania
2025 8.6% 7.3%
2024 6.2% 5.6%
2023 10.4% 10.4%
2022 15.1% 13.8%
2021 7.4% 5%
2020 3.7% 2.6%
2019 7.3% 3.8%
2018 6.8% 4.6%
2017 4.3% 1.3%
2016 0.8% -1.6%
2015 6.8% -0.6%
2014 12.9% 1.1%
2013 10.6% 4%
2012 13.8% 3.3%
2011 8.8% 5.8%
2010 8.3% 6.1%
2009 7.6% 5.6%
2008 28% 7.8%
2007 9.6% 4.8%
2006 4.4% 6.6%
2005 12.6% 9%
2004 8.3% 11.9%
2003 5.2% 15.4%
2002 0.9% 22.5%
2001 6.4% 34.5%
2000 11.3% 45.7%
1999 7.6% 45.8%
1998 9.5% 59.1%
1997 30% 154.8%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2025, retrieved 2026-07-08).

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

Over the past 29 years, Mongolia has recorded an average annual inflation rate of 9.42%, compared with 17.1% in Romania. In 2025, inflation was 8.6% in Mongolia and 7.3% in Romania.

Top exports between countries

Mongolia
Export category Export value
Animal & marine products $880K
Textiles & consumer goods $30K
Romania
Export category Export value
Machinery & equipment $1.46M
Processed food, beverages & tobacco $1.16M
Textiles & consumer goods $1.02M
Chemicals & pharma $871K
Metals $447K
Raw materials & minerals $321K
Raw agricultural goods $25K
Wood & paper products $24K
Miscellaneous $1K

Balance of trade

Mongolia Romania
Current account balance
-$2.49B
2024
-$33.9B
2025
Current account balance ranking
147/190
2024
186/190
2025
Current account balance, % of GDP
-10.4%
2024
-7.9%
2025
Goods imports
$11.7B
2024
$139B
2025
Goods exports
$14.7B
2024
$102B
2025
Service imports
$4.92B
2024
$35.9B
2025
Service exports
$1.6B
2024
$50.1B
2025
Imports of goods and services, % of GDP
62.6%
2025
40.7%
2025
Exports of goods and services, % of GDP
68.1%
2025
35.5%
2025

Economic freedom indices

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

Mongolia Romania
Economic freedom 63.9 65.4
Economic freedom ranking 76/197 64/197
Property rights 49.2 81
Government integrity 35.8 50
Judicial effectiveness 54.9 67
Tax burden 83.7 89.1
Government spending 64.6 56.7
Fiscal health 96.1 21.4
Business freedom 68.4 74.4
Labor freedom 68.2 63.6
Monetary freedom 72.1 72.7
Trade freedom 74.4 79.4
Investment freedom 50 70
Financial freedom 50 60

Economic freedom comparison by year

Mongolia
Romania
1x
Year Economic freedom index
Mongolia Romania
2026 63.9 65.4
2025 62.6 66.5
2024 60.6 64.4
2023 61.7 64.5
2022 63.9 67.1
2021 62.4 69.5
2020 55.9 69.7
2019 55.4 68.6
2018 55.7 69.4
2017 54.8 69.7
2016 59.4 65.6
2015 59.2 66.6
2014 58.9 65.5
2013 61.7 65.1
2012 61.5 64.4
2011 59.5 64.7
2010 60 64.2
2009 62.8 63.2
2008 63.6 61.7
2007 60.3 61.2
2006 62.4 58.2
2005 59.7 52.1
2004 56.5 50
2003 57.7 50.6
2002 56.7 48.7
2001 56 50
2000 58.5 52.1
1999 58.6 50.1
1998 57.3 54.4
1997 52.9 50.8
1996 47.4 46.2
1995 47.8 42.9

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08).

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

The Economic Freedom Index for Mongolia is 63.9, ranking 76/197, compared to 65.4 for Romania, ranking 64/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Mongolia Romania
Services, % of GDP
44.3%
2025
61.7%
2025
Industry, % of GDP
37.2%
2025
25.3%
2025
Agriculture, forestry, and fishing, % of GDP
8.94%
2025
3%
2025
GNI, Atlas method
$22.2B
2025
$384B
2025
GNI per capita, PPP
$18,460
2025
$49,550
2025
Total reserves including gold
$7B
2025
$90.6B
2025
Total reserves ranking
91/177
2025
31/177
2025
Net foreign direct investment
-$2.73B
2024
-$8.57B
2025
Net inflows of foreign direct investment
$2.78B
2024
$7.16B
2024
Net outflows of foreign direct investment
$55.5M
2024
$1.99B
2024
Servicing debt to the IMF, % of GNI
25.7%
2024
n/a
Poverty at national poverty lines
27.1%
2022
19%
2023
Gross capital formation, % of GDP
31.4%
2025
25.9%
2025

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08); U.S. Census Bureau (1985–2025, retrieved 2026-07-08).

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

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Data sources:

  1. World Bank | Economy & Growth (1980–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08)
  3. International Monetary Fund (IMF) | Public Finances in Modern History (1962–2005, retrieved 2026-07-08)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  5. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  6. TradeMap (2025, retrieved 2026-07-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  8. LivingCost (2026, retrieved 2026-07-08)

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.