Mongolia vs South Korea: Economic Indicators Comparison
South Korea with a GDP of $1.6T ranked the 12th largest economy in the world, while Mongolia ranked 134th with $13.1B. By GDP 5-years average growth and GDP per capita, South Korea and Mongolia ranked 93rd vs 39th and 33rd vs 118th, respectively.
Gross Domestic Product & Income
| Stat |  Mongolia |  South Korea |
|---|---|---|
| GDP | $13.1B | $1.6T |
| GDP growth, 1 year | 6.9% | 2.7% |
| GDP growth, 5-years average | 4.7% | 3% |
| Population | 3.1M | 51.5M |
| GDP per capita | $4.1k | $31k |
| GDP per capita growth | 5.32% | 2.33% |
| Purchasing Power Parity conversion factor | 738.48 | 860.51 |
| Price level ratio of PPP conversion factor GDP to market exchange rate | 0.3 | 0.78 |
| GDP per capita, PPP adjusted | $13k | $41k |
| GNI, Atlas method | $11.6B | $1.6T |
| GNI per capita | $3.7k | $31k |
| GNI, PPP adjusted | $39.6B | $2.1T |
| GNI per capita, PPP adjusted | $13k | $40k |
Financial system and Human development
| Stat | Mongolia | South Korea |
|---|---|---|
| Income Tax Rate | 10% | 42% |
| Corporate Tax Rate | 25% | 25% |
| Inflation, consumer prices | 7.7% | 1.5% |
| Inflation, GDP deflator | 8.1% | 0.3% |
| Unemployment | 6.3% | 3.8% |
| Economic Freedom Index | 55.9 | 74 |
| Personal Freedom Index | 7.63 | 8.84 |
| Human Freedom Index | 7.17 | 8.15 |
| Property Rights Index | 50.3 | 82.5 |
| Judical Effectiveness Index | 23 | 61 |
| Business Freedom Index | 63.6 | 90.5 |
| Fiscal Health Index | 9.3 | 96.7 |
| Labor Freedom Index | 75.7 | 56.2 |
| Investment Freedom Index | 50 | 70 |
| Financial Freedom Index | 60 | 70 |
| Trade Freedom Index | 74 | 80 |
| Monetary Freedom Index | 74.2 | 82.1 |
| Government Spending Index | 66.6 | 67.7 |
| Tax Burden Index | 87.4 | 63.9 |
| Government Integrity Index | 36.9 | 67.5 |
| Corruption Perceptions Index | 37 | 57 |
| Life expectancy at birth, years | 69.5 | 82.6 |
| Suicide mortality rate, per 100,000 people | 13 | 26.9 |
| Mortality caused by road traffic injury, per 100,000 people | 16.5 | 9.8 |
| Intentional homicides, per 100,000 people | 6.2 | 0.6 |
| International tourism, number of arrivals | 529k | 15.3M |
Government debt & reserves
| Stat | Mongolia | South Korea |
|---|---|---|
| Central government debt, % of GDP | 73.3% | 40.7% |
| External debt stocks, % of GNI | 253.9% | N/A |
| External debt stocks | $29.4B | N/A |
| Short-term debt, % of total reserves | 87.3% | N/A |
| Total debt service, % of exports and primary income | 101.6% | N/A |
| Adjusted net savings including particulate emission damage, % of GNI | -10.3% | 20.1% |
| Gross savings, % of GDP | 30.3% | 34.7% |
| Gross capital formation, % of GDP | 43.1% | 30.2% |
| Total reserves including gold | $3.5B | $403.1B |
| Foreign direct investment net inflows | $2B | $14.5B |
Exports, imports and economic structure
| Stat | Mongolia | South Korea |
|---|---|---|
| Exports of goods and services, % of GDP | 58.7% | 44% |
| Imports of goods and services, % of GDP | 64.2% | 39% |
| Current account balance (balance of payments) | -$1.9B | $76.4B |
| Revenue excluding grants, % of GDP | 24.9% | 27.8% |
| Grants excluding technical cooperation, BoP | $115.6M | $6.7M |
| Personal remittances received | $440.6M | $7.1B |
| Industry including construction value added, % of GDP | 38.7% | 35.1% |
| Agriculture, forestry and fishing value added, % of GDP | 10.8% | 2% |
| Charges for the use of intellectual property, payments BoP | $16.1M | $9.9B |
| Charges for the use of intellectual property, receipts BoP | $1.4M | $7.8B |
| Expense, % of GDP | 23.8% | 25.4% |
| Government Expenditure, % of GDP | 33.4% | 32.8% |
