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Economy of Mongolia vs Sudan compared: GDP & Debt

Updated on by Georank team

Mongolia has a GDP of $23.8B compared to $49.7B for Sudan, ranking 121/197 and 94/197 by economy size, respectively.

Mongolia has $10.5B in government debt (44.1% of GDP), compared to $130B (261.4% of GDP) in Sudan.

Mongolia vs Sudan GDP by year

Mongolia
Sudan
1x
Year GDP, current $
Mongolia Sudan
2024 $23,794,540,025 $49,672,435,513
2023 $20,325,121,394 $39,898,289,821
2022 $17,146,471,714 $51,666,875,363
2021 $15,286,441,738 $34,229,513,775
2020 $13,312,981,429 $27,034,593,750
2019 $14,206,359,018 $32,338,079,165
2018 $13,178,094,720 $32,333,780,383
2017 $11,480,847,741 $41,283,617,976
2016 $11,181,350,649 $42,630,376,000
2015 $11,619,892,591 $51,726,758,677
2014 $12,226,514,668 $49,516,748,618
2013 $12,582,122,604 $43,024,018,082
2012 $12,292,770,632 $37,632,919,967
2011 $10,409,797,378 $55,018,567,211
2010 $7,189,481,999 $58,962,978,034
2009 $4,583,850,368 $51,621,044,077
2008 $5,623,216,608 $64,833,083,257
2007 $4,234,999,704 $59,440,139,775
2006 $3,414,055,662 $45,263,831,634
2005 $2,523,471,601 $35,182,711,988
2004 $1,992,066,808 $26,646,007,251
2003 $1,595,297,356 $21,355,298,460
2002 $1,396,555,720 $18,137,128,388
2001 $1,267,997,934 $15,716,361,792
2000 $1,136,896,124 $12,257,299,147
1999 $1,057,408,589 $10,682,028,340
1998 $1,124,440,205 $11,250,221,537
1997 $1,180,934,203 $11,681,175,864
1996 $1,345,719,472 $9,018,300,725
1995 $1,452,165,005 $13,830,363,900
1994 $925,817,092 $12,793,794,737
1993 $768,401,634 $8,881,005,436
1992 $1,317,611,864 $7,031,933,492
1991 $2,379,018,326 $44,171,194,366
1990 $2,560,785,660 $33,641,222,222
1989 $3,576,966,800 $21,408,111,111
1988 $3,204,461,567 $14,372,555,556
1987 $3,020,611,600 $12,093,333,333
1986 $2,896,178,867 $10,092,200,000
1985 $2,186,505,475 $8,075,259,600
1984 $2,098,734,600 $10,447,615,385
1983 $2,725,736,633 $8,230,153,846
1982 $2,552,401,933 $8,732,542,274
1981 $2,310,099,100 $10,753,888,154
1980 $2,101,394,100 $8,951,800,000
1979 - $8,418,407,787
1978 - $8,128,719,315
1977 - $7,499,005,639
1976 - $6,013,210,816
1975 - $4,823,090,192
1974 - $3,958,931,660
1973 - $3,077,254,460
1972 - $2,483,055,722
1971 - $2,288,340,041
1970 - $2,100,229,759
1969 - $1,847,501,441
1968 - $1,677,771,401
1967 - $1,607,409,539
1966 - $1,484,491,676
1965 - $1,446,869,619
1964 - $1,388,282,600
1963 - $1,351,234,926
1962 - $1,328,259,625
1961 - $1,222,860,429
1960 - $1,126,364,162

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

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

GDP per capita in Mongolia vs Sudan by year

Mongolia
GDP per capita

GDP per capita, PPP
Sudan
GDP per capita

GDP per capita, PPP
1x
Year Current $
Mongolia Sudan
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $6,751 $19,145 $985 $2,116
2023 $5,839 $18,005 $797 $2,421
2022 $4,994 $16,402 $1,046 $3,355
2021 $4,518 $14,792 $712 $3,249
2020 $4,001 $13,693 $578 $3,349
2019 $4,348 $13,605 $710 $3,914
2018 $4,108 $12,317 $731 $4,199
2017 $3,646 $11,096 $967 $4,252
2016 $3,620 $10,511 $1,033 $4,470
2015 $3,839 $10,458 $1,292 $4,217
2014 $4,126 $10,900 $1,275 $4,261
2013 $4,340 $10,442 $1,139 $3,725
2012 $4,329 $10,152 $1,019 $3,710
2011 $3,736 $8,862 $1,522 $4,112
2010 $2,625 $7,532 $1,665 $3,806
2009 $1,703 $7,119 $1,493 $3,732
2008 $2,127 $7,297 $1,928 $3,938
2007 $1,628 $6,678 $1,814 $3,836
2006 $1,330 $5,977 $1,415 $3,637
2005 $995 $5,406 $1,125 $3,407
2004 $794 $4,942 $872 $3,215
2003 $643 $4,399 $714 $3,058
2002 $570 $4,083 $621 $2,898
2001 $524 $3,889 $551 $2,769
2000 $476 $3,740 $441 $2,616
1999 $449 $3,664 $394 $2,475
1998 $484 $3,555 $425 $2,428
1997 $515 $3,449 $453 $2,358
1996 $596 $3,310 $357 $2,006
1995 $653 $3,229 $561 $1,902
1994 $423 $3,021 $532 $1,805
1993 $355 $2,929 $379 $1,794
1992 $608 $2,951 $307 $1,710
1991 $1,099 $3,183 $1,966 $1,599
1990 $1,220 $3,479 $1,528 $1,468
1989 $1,684 - $992 -
1988 $1,543 - $680 -
1987 $1,493 - $584 -
1986 $1,469 - $497 -
1985 $1,138 - $406 -
1984 $1,120 - $534 -
1983 $1,490 - $431 -
1982 $1,430 - $472 -
1981 $1,325 - $605 -
1980 $1,235 - $525 -
1979 - - $515 -
1978 - - $518 -
1977 - - $497 -
1976 - - $413 -
1975 - - $343 -
1974 - - $291.5 -
1973 - - $235.8 -
1972 - - $198.2 -
1971 - - $189 -
1970 - - $179.6 -
1969 - - $163.5 -
1968 - - $153.7 -
1967 - - $152.4 -
1966 - - $145.6 -
1965 - - $146.8 -
1964 - - $145.7 -
1963 - - $146.6 -
1962 - - $148.9 -
1961 - - $141.6 -
1960 - - $134.7 -

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

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

Mongolia's GDP per capita is $6,751, ranking 105/197, compared to $985 in Sudan, ranking 179/197. Adjusted for purchasing power (GDP per capita PPP), Mongolia ranks 98th at $19,145, while Sudan ranks 185th at $2,116.

Economic indicators

Mongolia Sudan
Gross domestic product
$23.8B
2024
$49.7B
2024
GDP rank
121/197
2024
94/197
2024
GDP growth
5.12%
2023-2024
-14%
2023-2024
GDP per capita
$6,751
2024
$985
2024
GDP per capita rank
105/197
2024
179/197
2024
GDP per capita, PPP
$19,145
2024
$2,116
2024
GDP per capita PPP rank
98/197
2024
185/197
2024
Government debt
$10.5B
2024
$130B
2024
Debt-to-GDP ratio
44.1%
2024
261.4%
2024
Government debt per person
$2,974
2024
$2,574
2024
Government debt per person rank
101/185
2024
109/185
2024
Average annual personal income after taxes
$5,311
2026
$1,704
2026
Income share by richest 10%
24.6%
2022
27.8%
2014
Income share by poorest 10%
3.4%
2022
3.2%
2014
Government expenditure, % of GDP
37.5%
2024
6.39%
2024
Consumer prices inflation
6.2%
2023-2024
138.8%
2021-2022
Central bank interest rate
12%
2025
n/a
Unemployment rate
5.81%
2024
7.53%
2022
Population
3620317
53335233

Spending and national debt comparison by year

Mongolia
Spending

Debt
Sudan
Spending

Debt
1x
Year % of GDP
Mongolia Sudan
Government spending Government debt Government spending Government debt
2024 37.5% 44.1% 6.39% 261.4%
2023 31.9% 46.7% 8.23% 259.9%
2022 33.7% 64.6% 17.9% 186.9%
2021 35.9% 67.4% 9.84% 189.6%
2020 37.1% 83.4% 10.9% 278.3%
2019 30.8% 66.8% 18.7% 216.5%
2018 28.4% 76.5% 16.8% 209.8%
2017 32.2% 86.9% 12.8% 149.5%
2016 39.7% 78.7% 9.98% 109.9%
2015 31.2% 50.5% 12.4% 93.2%
2014 32.1% 44% 13.5% 84.4%
2013 32.2% 49.4% 15.3% 105.8%
2012 36.1% 43.7% 16.5% 117.7%
2011 37.9% 32.7% 18.2% 78.1%
2010 31.6% 31% 17.4% 74.6%
2009 35.5% 48.5% 18.8% 71%
2008 37.6% 31% 19.7% 55.8%
2007 35.3% 36.1% 19.6% 53.7%
2006 26.2% 40.9% 18.8% 63.7%
2005 25.1% 55.9% 19.7% 75.5%
2004 31.8% 75% 16.5% 97.8%
2003 33.7% 90% 12.5% 117.4%
2002 35.5% 72% 10.5% 121.7%
2001 35.2% 69.2% 9.87% 125.6%
2000 34.5% 79.3% 10.4% 143.2%
1999 33.2% 103.7% 8.4% 160.5%
1998 36.2% 77.5% 7.79% 179.7%
1997 30.8% 61% 7.38% 167.7%
1996 28.6% 49.7% 9.31% 220.9%
1995 26.6% 40.2% 12.9% 239%
1994 32.2% 57.6% 19.6% 386%
1993 38.3% 57.8% 23.7% 285.9%
1992 29.1% 29.3% 50.4% 495%
1991 46% - 45.7% -
1990 51.7% - 31% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1992–2005, retrieved 2026-02-20).

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

In 2024, Mongolia's government spending was $8.92B, accounting for 37.5% of its GDP, while Sudan spent $3.17B, or 6.39% of GDP.

Debt-to-GDP ratio is 44.1% in Mongolia and 261.4% in Sudan, ranking 122/185 and 1/185, respectively.

Government deficit by year

Deficit/surplus
Mongolia

Sudan
1x
Year Deficit/surplus, % of GDP
Mongolia Sudan
2024 1.39% -3.46%
2023 2.73% -3.7%
2022 0.67% -2.15%
2021 -3.05% -0.29%
2020 -9.24% -6.03%
2019 1% -10.8%
2018 2.85% -7.92%
2017 -3.72% -6.07%
2016 -15.3% -3.92%
2015 -5.04% -3.87%
2014 -3.73% -4.72%
2013 -0.93% -5.76%
2012 -6.24% -7.37%
2011 -4.01% -2.33%
2010 0.43% 0.11%
2009 -5.2% -3.8%
2008 -4.52% 0.49%
2007 2.64% -2.84%
2006 7.58% -1.32%
2005 2.43% -1.88%
2004 -1.62% 0.16%
2003 -3.38% 0.77%
2002 -4.74% -0.69%
2001 -4.33% -0.77%
2000 -5.82% -0.7%
1999 -9.91% -0.8%
1998 -12.3% -0.56%
1997 -8.09% -0.59%
1996 -6.88% -2.61%
1995 -4.97% -3.48%
1994 -9.74% -3.03%
1993 -13.3% -8.04%
1992 -8.1% -24.5%
1991 -6.37% -26.5%
1990 -9.37% -16.2%

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

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

In 2024, Mongolia's government surplus, the difference between spending and revenue, was $332M, equivalent to 1.39% of GDP. This compares to Sudan's deficit of $1.72B, or 3.46% of GDP.

Over the past 35 years, Mongolia recorded a fiscal deficit in 26 of those years, while Sudan ran a deficit in 31 years. On average, Mongolia posted an annual deficit equal to 4.23% of GDP, compared to deficit of 4.72% of GDP for Sudan.

Inflation comparison by year

Inflation
Mongolia

Sudan
1x
Year Consumer prices inflation
Mongolia Sudan
2024 6.2% -
2023 10.4% -
2022 15.1% 138.8%
2021 7.4% 359%
2020 3.7% 163.3%
2019 7.3% 51%
2018 6.8% 63.3%
2017 4.3% 32.4%
2016 0.8% 17.8%
2015 6.8% 16.9%
2014 12.9% 36.9%
2013 10.6% 36.5%
2012 13.8% 35.6%
2011 8.8% 18.1%
2010 8.3% 13%
2009 7.6% 11.3%
2008 28% 14.3%
2007 9.6% 14.8%
2006 4.4% 7.2%
2005 12.6% 8.51%
2004 8.3% 9.66%
2003 5.2% 6.49%
2002 0.9% 22.2%
2001 6.4% 1.94%
2000 11.3% 7.12%
1999 7.6% 17.2%
1998 9.5% 24.6%
1997 30% 47.2%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (1997–2022, retrieved 2026-04-06).

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

Over the past 26 years, Mongolia has recorded an average annual inflation rate of 9.54%, compared with 45.2% in Sudan. In 2022, inflation was 6.2% in Mongolia and 138.8% in Sudan.

Top exports between countries

Mongolia
Export category Export value
Machinery & equipment $313K
Raw materials & minerals $107K
Textiles & consumer goods $40K
Metals $38K
Chemicals & pharma $13K
Wood & paper products $9K
Precious metals & jewellery $4K
Miscellaneous $3K
Weapons & explosives $2K
Sudan
Export category Export value

Balance of trade

Mongolia Sudan
Current account balance
-$2.49B
2024
-$4.44B
2022
Current account balance ranking
149/190
2024
165/190
2022
Current account balance, % of GDP
-10.4%
2024
-8.6%
2022
Goods imports
$11.7B
2024
$9.99B
2022
Goods exports
$14.7B
2024
$4.36B
2022
Service imports
$4.92B
2024
$1.59B
2022
Service exports
$1.6B
2024
$1.55B
2022
Imports of goods and services, % of GDP
69.7%
2024
1.27%
2024
Exports of goods and services, % of GDP
68.7%
2024
0.72%
2024

Economic freedom indices

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

Mongolia Sudan
Economic freedom 63.9 32.5
Economic freedom ranking 76/197 191/197
Property rights 49.2 6.5
Government integrity 35.8 13.8
Judicial effectiveness 54.9 2.4
Tax burden 83.7 84.7
Government spending 64.6 96.5
Fiscal health 96.1 64.6
Business freedom 68.4 27.3
Labor freedom 68.2 33.6
Monetary freedom 72.1 6.2
Trade freedom 74.4 29.6
Investment freedom 50 5
Financial freedom 50 20

Economic freedom comparison by year

Mongolia
Sudan
1x
Year Economic freedom index
Mongolia Sudan
2026 63.9 32.5
2025 62.6 35.3
2024 60.6 33.9
2023 61.7 32.8
2022 63.9 32
2021 62.4 39.1
2020 55.9 45
2019 55.4 47.7
2018 55.7 49.4
2017 54.8 48.8
2016 59.4 -
2015 59.2 -
2014 58.9 -
2013 61.7 -
2012 61.5 -
2011 59.5 -
2010 60 -
2009 62.8 -
2008 63.6 -
2007 60.3 -
2006 62.4 -
2005 59.7 -
2004 56.5 -
2003 57.7 -
2002 56.7 -
2001 56 -
2000 58.5 47.2
1999 58.6 39.6
1998 57.3 38.3
1997 52.9 39.9
1996 47.4 39.2
1995 47.8 39.4

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

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

The Economic Freedom Index for Mongolia is 63.9, ranking 76/197, compared to 32.5 for Sudan, ranking 191/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Mongolia Sudan
Services, % of GDP
44.3%
2024
54.7%
2024
Industry, % of GDP
38.1%
2024
23.2%
2024
Agriculture, forestry, and fishing, % of GDP
7.29%
2024
22.2%
2024
GNI, Atlas method
$19B
2024
$35.8B
2024
GNI per capita, PPP
$17,000
2024
$2,050
2024
Total reserves including gold
$5.51B
2024
$178M
2017
Total reserves ranking
95/177
2024
171/177
2017
Net foreign direct investment
-$2.73B
2024
-$574M
2022
Net inflows of foreign direct investment
$2.78B
2024
$548M
2023
Net outflows of foreign direct investment
$55.5M
2024
$0
2024
Servicing debt to the IMF, % of GNI
25.7%
2024
0.42%
2024
Poverty at national poverty lines
27.1%
2022
46.5%
2020
Gross capital formation, % of GDP
35.5%
2024
2.89%
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/mongolia/sudan | CC BY

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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 (1992–2005, retrieved 2026-02-20)
  6. TradeMap (2021–2024, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)
  9. Central Intelligence Agency (CIA) (2020, retrieved 2026-02-20)

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.