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Economy of Mongolia vs Sierra Leone compared: GDP & Debt

Updated on by Georank

Mongolia has a GDP of $25.4B compared to $7.46B for Sierra Leone, ranking 123/197 and 160/197 by economy size, respectively.

Mongolia has $11.4B in government debt (45.1% of GDP), compared to $3.38B (45.2% of GDP) in Sierra Leone.

Mongolia vs Sierra Leone GDP by year

Mongolia
Sierra Leone
1x
Year GDP, current $
Mongolia Sierra Leone
2025 $25,369,107,325 $7,464,157,904
2024 $23,794,540,025 $6,971,127,234
2023 $20,325,121,394 $6,415,852,766
2022 $17,146,471,714 $7,121,125,277
2021 $15,286,441,738 $7,166,931,483
2020 $13,312,981,429 $6,688,307,706
2019 $14,206,359,018 $6,523,577,590
2018 $13,178,094,720 $6,390,514,689
2017 $11,480,847,741 $5,749,846,528
2016 $11,181,350,649 $6,084,297,211
2015 $11,619,892,591 $6,788,352,975
2014 $12,226,514,668 $7,686,138,791
2013 $12,582,122,604 $7,502,762,863
2012 $12,292,770,632 $6,141,666,509
2011 $10,409,797,378 $4,861,632,885
2010 $7,189,481,999 $4,262,805,967
2009 $4,583,850,368 $3,953,403,098
2008 $5,623,216,608 $4,157,895,298
2007 $4,234,999,704 $3,632,957,611
2006 $3,414,055,662 $3,263,697,467
2005 $2,523,471,601 $2,545,275,313
2004 $1,992,066,808 $2,237,350,687
2003 $1,595,297,356 $2,142,618,046
2002 $1,396,555,720 $1,933,863,911
2001 $1,267,997,934 $1,681,473,894
2000 $1,136,896,124 $635,866,404
1999 $1,057,408,589 $669,386,624
1998 $1,124,440,205 $672,368,187
1997 $1,180,934,203 $850,232,760
1996 $1,345,719,472 $941,709,423
1995 $1,452,165,005 $870,740,292
1994 $925,817,092 $911,853,802
1993 $768,401,634 $768,867,883
1992 $1,317,611,864 $679,940,814
1991 $2,379,018,326 $779,981,987
1990 $2,560,785,660 $649,644,098
1989 $3,576,966,800 $932,974,420
1988 $3,204,461,567 $1,055,083,933
1987 $3,020,611,600 $660,106,336
1986 $2,896,178,867 $490,181,457
1985 $2,186,505,475 $856,890,459
1984 $2,098,734,600 $1,087,471,862
1983 $2,725,736,633 $995,104,305
1982 $2,552,401,933 $1,295,361,886
1981 $2,310,099,100 $1,114,830,472
1980 $2,101,394,100 $1,100,685,845
1979 - $1,109,374,911
1978 - $960,728,339
1977 - $691,777,584
1976 - $594,895,942
1975 - $679,336,344
1974 - $648,590,643
1973 - $575,230,724
1972 - $465,381,340
1971 - $419,549,305
1970 - $434,410,974
1969 - $408,690,163
1968 - $329,859,732
1967 - $348,795,303
1966 - $375,479,850
1965 - $359,379,856
1964 - $371,847,461
1963 - $348,547,279
1962 - $342,721,416
1961 - $327,834,191
1960 - $322,009,962

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/mongolia/sierra-leone | CC BY

GDP per capita in Mongolia vs Sierra Leone by year

Mongolia
GDP per capita

GDP per capita, PPP
Sierra Leone
GDP per capita

GDP per capita, PPP
1x
Year Current $
Mongolia Sierra Leone
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $7,108 - $846 -
2024 $6,751 $19,145 $807 $3,522
2023 $5,839 $18,005 $758 $3,368
2022 $4,994 $16,402 $860 $3,144
2021 $4,518 $14,792 $885 $2,849
2020 $4,001 $13,693 $845 $2,719
2019 $4,348 $13,605 $844 $2,704
2018 $4,108 $12,317 $846 $2,640
2017 $3,646 $11,096 $779 $2,501
2016 $3,620 $10,511 $844 $2,635
2015 $3,839 $10,458 $965 $2,560
2014 $4,126 $10,900 $1,118 $2,762
2013 $4,340 $10,442 $1,117 $2,701
2012 $4,329 $10,152 $938 $2,317
2011 $3,736 $8,862 $761 $2,043
2010 $2,625 $7,532 $685 $1,900
2009 $1,703 $7,119 $653 $1,814
2008 $2,127 $7,297 $705 $1,824
2007 $1,628 $6,678 $632 $1,770
2006 $1,330 $5,977 $580 $1,698
2005 $995 $5,406 $463 $1,615
2004 $794 $4,942 $418 $1,541
2003 $643 $4,399 $414 $1,458
2002 $570 $4,083 $389 $1,360
2001 $524 $3,889 $358 $1,121
2000 $476 $3,740 $143.7 $1,242
1999 $449 $3,664 $155 $1,167
1998 $484 $3,555 $156.5 $1,180
1997 $515 $3,449 $199.9 $1,157
1996 $596 $3,310 $224.3 $1,225
1995 $653 $3,229 $208.4 $1,187
1994 $423 $3,021 $218.5 $1,266
1993 $355 $2,929 $185 $1,269
1992 $608 $2,951 $163.2 $1,220
1991 $1,099 $3,183 $183.7 $1,445
1990 $1,220 $3,479 $154.8 $1,382
1989 $1,684 - $231.3 -
1988 $1,543 - $268.2 -
1987 $1,493 - $172.4 -
1986 $1,469 - $131.5 -
1985 $1,138 - $235.5 -
1984 $1,120 - $306 -
1983 $1,490 - $285.8 -
1982 $1,430 - $380 -
1981 $1,325 - $334 -
1980 $1,235 - $336 -
1979 - - $346 -
1978 - - $305 -
1977 - - $224.2 -
1976 - - $196.4 -
1975 - - $228.4 -
1974 - - $222.1 -
1973 - - $200.6 -
1972 - - $165.4 -
1971 - - $151.8 -
1970 - - $160.2 -
1969 - - $153.6 -
1968 - - $126.3 -
1967 - - $136.1 -
1966 - - $149.3 -
1965 - - $145.6 -
1964 - - $153.4 -
1963 - - $146.3 -
1962 - - $146.3 -
1961 - - $142.3 -
1960 - - $142 -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/mongolia/sierra-leone | CC BY

Mongolia's GDP per capita is $7,108, ranking 103/197, compared to $846 in Sierra Leone, ranking 186/197. Adjusted for purchasing power (GDP per capita PPP), Mongolia ranks 98th at $19,145, while Sierra Leone ranks 171st at $3,522.

Economic indicators

Mongolia Sierra Leone
Gross domestic product
$25.4B
2025
$7.46B
2025
GDP rank
123/197
2025
160/197
2025
GDP growth
6.84%
2024-2025
4.61%
2024-2025
GDP per capita
$7,108
2025
$846
2025
GDP per capita rank
103/197
2025
186/197
2025
GDP per capita, PPP
$19,145
2024
$3,522
2024
GDP per capita PPP rank
98/197
2024
171/197
2024
Government debt
$11.4B
2025
$3.38B
2025
Debt-to-GDP ratio
45.1%
2025
45.2%
2025
Government debt per person
$3,207
2025
$383
2025
Government debt per person rank
101/185
2025
173/185
2025
Average annual personal income after taxes
$7,064
2026
$1,418
2026
Income share by richest 10%
24.6%
2022
29.4%
2018
Income share by poorest 10%
3.4%
2022
3.4%
2018
Government expenditure, % of GDP
34.6%
2025
16.5%
2025
Consumer prices inflation
8.6%
2024-2025
7.6%
2024-2025
Central bank interest rate
12%
2025
16.8%
2025
Unemployment rate
5.81%
2024
1.65%
2018
Population
3630744
9090531

Spending and national debt comparison by year

Mongolia
Spending

Debt
Sierra Leone
Spending

Debt
1x
Year % of GDP
Mongolia Sierra Leone
Government spending Government debt Government spending Government debt
2025 34.6% 45.1% 16.5% 45.2%
2024 37.5% 44.1% 17.6% 46.7%
2023 31.9% 46.7% 15.4% 49.4%
2022 33.7% 64.5% 16.7% 54%
2021 35.9% 67.3% 16.8% 47.1%
2020 37.1% 83.4% 15.6% 46.4%
2019 30.8% 66.8% 13.3% 45.3%
2018 28.4% 76.5% 13.7% 44.2%
2017 32.2% 86.9% 15% 44.2%
2016 39.7% 78.7% 14.9% 38.9%
2015 31.2% 50.5% 13.1% 28.4%
2014 32.1% 44% 13.5% 26.8%
2013 32.2% 49.4% 11.4% 22.3%
2012 36.1% 43.7% 13.5% 24.1%
2011 37.9% 32.7% 13.2% 25.8%
2010 31.6% 31% 12.5% 28.9%
2009 35.5% 48.5% 11.3% 31.1%
2008 37.6% 31% 10.3% 46.1%
2007 35.3% 36.1% 8.1% 26.4%
2006 26.2% 40.9% 9.97% 61.9%
2005 25.1% 55.9% 10.9% 78.9%
2004 31.8% 75% 11.1% 93.2%
2003 33.7% 90% 11.7% 99.8%
2002 35.5% 72% 12.6% 99.8%
2001 35.2% 69.2% 12% 113.5%
2000 34.5% 79.3% 10.3% -
1999 33.2% 103.7% - -
1998 36.2% 77.5% - -
1997 30.8% 61% - -
1996 28.6% 49.7% - -
1995 26.6% 40.2% - -
1994 32.2% 57.6% - -
1993 38.3% 57.8% - -
1992 29.1% 29.3% - -
1991 46% - - -
1990 51.7% - - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1992–2005, retrieved 2026-07-08).

GeoRank.org/economy/mongolia/sierra-leone | CC BY

In 2025, Mongolia's government spending was $8.78B, accounting for 34.6% of its GDP, while Sierra Leone spent $1.23B, or 16.5% of GDP.

Debt-to-GDP ratio is 45.1% in Mongolia and 45.2% in Sierra Leone, ranking 116/185 and 115/185, respectively.

Government deficit by year

Deficit/surplus
Mongolia

Sierra Leone
1x
Year Deficit/surplus, % of GDP
Mongolia Sierra Leone
2025 1.7% -4.2%
2024 1.39% -5.16%
2023 2.73% -4.99%
2022 0.67% -5.93%
2021 -3.05% -4.35%
2020 -9.24% -3.5%
2019 1% -1.95%
2018 2.85% -3.57%
2017 -3.72% -5.61%
2016 -15.3% -5.41%
2015 -5.04% -2.86%
2014 -3.73% -2.77%
2013 -0.93% -1.74%
2012 -6.24% -3.41%
2011 -4.01% -2.78%
2010 0.43% -3.09%
2009 -5.2% -1.51%
2008 -4.52% -2.22%
2007 2.64% 12.6%
2006 7.58% -0.93%
2005 2.43% -1.17%
2004 -1.62% -1.46%
2003 -3.38% -2.78%
2002 -4.74% -3.03%
2001 -4.33% -3.22%
2000 -5.82% -1.94%
1999 -9.91% -
1998 -12.3% -
1997 -8.09% -
1996 -6.88% -
1995 -4.97% -
1994 -9.74% -
1993 -13.3% -
1992 -8.1% -
1991 -6.37% -
1990 -9.37% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08).

GeoRank.org/economy/mongolia/sierra-leone | 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 Sierra Leone's deficit of $313M, or 4.2% of GDP.

Over the past 26 years, Mongolia recorded a fiscal deficit in 16 of those years, while Sierra Leone ran a deficit in 25 years. On average, Mongolia posted an annual deficit equal to 2.21% of GDP, compared to deficit of 2.58% of GDP for Sierra Leone.

Inflation comparison by year

Inflation
Mongolia

Sierra Leone
1x
Year Consumer prices inflation
Mongolia Sierra Leone
2025 8.6% 7.6%
2024 6.2% 28.4%
2023 10.4% 47.7%
2022 15.1% 27.2%
2021 7.4% 11.9%
2020 3.7% 13.4%
2019 7.3% 14.8%
2018 6.8% 16%
2017 4.3% 18.2%
2016 0.8% 10.9%
2015 6.8% 6.7%
2014 12.9% 4.6%
2013 10.6% 5.5%
2012 13.8% 6.6%
2011 8.8% 6.8%
2010 8.3% 7.2%
2009 7.6% 7.5%
2008 28% 8.2%
2007 9.6% 17%
2006 4.4% 10.5%
2005 12.6% 13.7%
2004 8.3% 12.9%
2003 5.2% 4%
2002 0.9% 0.1%
2001 6.4% 2.6%
2000 11.3% -0.9%
1999 7.6% 34.1%
1998 9.5% 36%
1997 30% 14.6%

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

GeoRank.org/economy/mongolia/sierra-leone | CC BY

Over the past 29 years, Mongolia has recorded an average annual inflation rate of 9.42%, compared with 13.6% in Sierra Leone. In 2025, inflation was 8.6% in Mongolia and 7.6% in Sierra Leone.

Balance of trade

Mongolia Sierra Leone
Current account balance
-$2.49B
2024
-$984M
2024
Current account balance ranking
147/190
2024
115/190
2024
Current account balance, % of GDP
-10.4%
2024
-14.1%
2024
Goods imports
$11.7B
2024
$2.4B
2024
Goods exports
$14.7B
2024
$1.55B
2024
Service imports
$4.92B
2024
$514M
2024
Service exports
$1.6B
2024
$49.6M
2024
Imports of goods and services, % of GDP
62.6%
2025
28.2%
2025
Exports of goods and services, % of GDP
68.1%
2025
20.9%
2025

Economic freedom indices

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

Mongolia Sierra Leone
Economic freedom 63.9 49.6
Economic freedom ranking 76/197 165/197
Property rights 49.2 32.9
Government integrity 35.8 35.8
Judicial effectiveness 54.9 42
Tax burden 83.7 88.2
Government spending 64.6 92.4
Fiscal health 96.1 54.1
Business freedom 68.4 44.8
Labor freedom 68.2 38.2
Monetary freedom 72.1 53.6
Trade freedom 74.4 63.6
Investment freedom 50 30
Financial freedom 50 20

Economic freedom comparison by year

Mongolia
Sierra Leone
1x
Year Economic freedom index
Mongolia Sierra Leone
2026 63.9 49.6
2025 62.6 48
2024 60.6 44.6
2023 61.7 50.2
2022 63.9 52
2021 62.4 51.7
2020 55.9 48
2019 55.4 47.5
2018 55.7 51.8
2017 54.8 52.6
2016 59.4 52.3
2015 59.2 51.7
2014 58.9 50.5
2013 61.7 48.3
2012 61.5 49.1
2011 59.5 49.6
2010 60 47.9
2009 62.8 47.8
2008 63.6 48.3
2007 60.3 47
2006 62.4 45.2
2005 59.7 44.8
2004 56.5 43.6
2003 57.7 42.2
2002 56.7 -
2001 56 -
2000 58.5 44.2
1999 58.6 47.2
1998 57.3 47.7
1997 52.9 45
1996 47.4 52.3
1995 47.8 49.8

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

GeoRank.org/economy/mongolia/sierra-leone | CC BY

The Economic Freedom Index for Mongolia is 63.9, ranking 76/197, compared to 49.6 for Sierra Leone, ranking 165/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Mongolia Sierra Leone
Services, % of GDP
44.3%
2025
41.6%
2025
Industry, % of GDP
37.2%
2025
25.7%
2025
Agriculture, forestry, and fishing, % of GDP
8.94%
2025
29.5%
2025
GNI, Atlas method
$22.2B
2025
$7.34B
2025
GNI per capita, PPP
$18,460
2025
$3,690
2025
Total reserves including gold
$7B
2025
$433M
2024
Total reserves ranking
91/177
2025
161/177
2024
Net foreign direct investment
-$2.73B
2024
-$122M
2024
Net inflows of foreign direct investment
$2.78B
2024
$122M
2024
Net outflows of foreign direct investment
$55.5M
2024
$0
2024
Servicing debt to the IMF, % of GNI
25.7%
2024
2.22%
2024
Poverty at national poverty lines
27.1%
2022
56.8%
2018
Gross capital formation, % of GDP
31.4%
2025
23.2%
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/sierra-leone | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  4. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  5. International Monetary Fund (IMF) | Public Finances in Modern History (1992–2005, retrieved 2026-07-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  7. 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.