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Economy of Mongolia vs United Arab Emirates compared: GDP & Debt

Updated on by Georank

Mongolia has a GDP of $25.4B compared to $552B for the United Arab Emirates, ranking 123/197 and 31/197 by economy size, respectively.

Mongolia has $11.4B in government debt (45.1% of GDP), compared to $193B (34.3% of GDP) in the United Arab Emirates.

Mongolia vs United Arab Emirates GDP by year

Mongolia
United Arab Emirates
1x
Year GDP, current $
Mongolia UAE
2025 $25,369,107,325 -
2024 $23,794,540,025 $552,324,919,096
2023 $20,325,121,394 $522,622,268,401
2022 $17,146,471,714 $511,403,404,642
2021 $15,286,441,738 $422,441,282,436
2020 $13,312,981,429 $357,161,776,271
2019 $14,206,359,018 $433,926,218,686
2018 $13,178,094,720 $440,560,003,161
2017 $11,480,847,741 $403,365,056,079
2016 $11,181,350,649 $381,717,208,621
2015 $11,619,892,591 $381,973,135,513
2014 $12,226,514,668 $424,935,834,104
2013 $12,582,122,604 $409,632,574,703
2012 $12,292,770,632 $392,793,559,051
2011 $10,409,797,378 $368,881,033,963
2010 $7,189,481,999 $307,736,348,527
2009 $4,583,850,368 $253,547,358,747
2008 $5,623,216,608 $315,474,615,741
2007 $4,234,999,704 $257,916,148,767
2006 $3,414,055,662 $222,116,532,963
2005 $2,523,471,601 $180,617,467,954
2004 $1,992,066,808 $147,824,249,958
2003 $1,595,297,356 $124,346,476,180
2002 $1,396,555,720 $109,816,091,079
2001 $1,267,997,934 $103,311,631,797
2000 $1,136,896,124 $104,337,463,730
1999 $1,057,408,589 $84,445,399,335
1998 $1,124,440,205 $75,674,384,205
1997 $1,180,934,203 $78,838,886,862
1996 $1,345,719,472 $73,571,217,377
1995 $1,452,165,005 $65,743,604,966
1994 $925,817,092 $59,305,111,228
1993 $768,401,634 $55,625,269,485
1992 $1,317,611,864 $54,239,188,746
1991 $2,379,018,326 $51,552,058,250
1990 $2,560,785,660 $50,701,374,187
1989 $3,576,966,800 $41,464,966,302
1988 $3,204,461,567 $36,275,613,877
1987 $3,020,611,600 $36,384,802,310
1986 $2,896,178,867 $33,943,568,481
1985 $2,186,505,475 $40,603,631,079
1984 $2,098,734,600 $41,807,931,453
1983 $2,725,736,633 $42,803,373,390
1982 $2,552,401,933 $46,622,715,281
1981 $2,310,099,100 $49,333,471,895
1980 $2,101,394,100 $43,599,134,193
1979 - $31,225,557,022
1978 - $23,775,718,541
1977 - $24,871,660,292
1976 - $19,213,212,475
1975 - $14,720,729,969
1974 - $11,651,505,689
1973 - $4,231,243,616
1972 - $1,415,086,929
1971 - $939,893,600
1970 - $685,986,701

Data sources: World Bank | Economy & Growth (1970–2025, retrieved 2026-07-08).

GeoRank.org/economy/mongolia/united-arab-emirates | CC BY

GDP per capita in Mongolia vs United Arab Emirates by year

Mongolia
GDP per capita

GDP per capita, PPP
United Arab Emirates
GDP per capita

GDP per capita, PPP
1x
Year Current $
Mongolia UAE
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $7,108 - - -
2024 $6,751 $19,145 $50,274 $79,229
2023 $5,839 $18,005 $49,851 $77,955
2022 $4,994 $16,402 $50,760 $75,072
2021 $4,518 $14,792 $44,118 $68,580
2020 $4,001 $13,693 $37,992 $66,791
2019 $4,348 $13,605 $45,939 $79,816
2018 $4,108 $12,317 $47,135 $77,446
2017 $3,646 $11,096 $43,734 $70,282
2016 $3,620 $10,511 $42,721 $69,987
2015 $3,839 $10,458 $44,910 $73,986
2014 $4,126 $10,900 $52,725 $87,478
2013 $4,340 $10,442 $53,247 $87,526
2012 $4,329 $10,152 $53,142 $89,198
2011 $3,736 $8,862 $51,922 $89,665
2010 $2,625 $7,532 $44,795 $85,120
2009 $1,703 $7,119 $37,803 $84,780
2008 $2,127 $7,297 $50,054 $94,628
2007 $1,628 $6,678 $45,855 $100,813
2006 $1,330 $5,977 $44,343 $106,814
2005 $995 $5,406 $38,719 $101,301
2004 $794 $4,942 $33,377 $98,661
2003 $643 $4,399 $29,660 $92,636
2002 $570 $4,083 $27,754 $88,467
2001 $524 $3,889 $27,745 $90,370
2000 $476 $3,740 $29,866 $92,899
1999 $449 $3,664 $25,856 $87,658
1998 $484 $3,555 $24,889 $90,229
1997 $515 $3,449 $27,983 $96,009
1996 $596 $3,310 $28,323 $94,620
1995 $653 $3,229 $27,003 $93,702
1994 $423 $3,021 $25,473 $89,959
1993 $355 $2,929 $25,033 $86,330
1992 $608 $2,951 $25,648 $87,509
1991 $1,099 $3,183 $25,691 $87,250
1990 $1,220 $3,479 $26,710 $88,455
1989 $1,684 - $23,167 -
1988 $1,543 - $21,570 -
1987 $1,493 - $23,113 -
1986 $1,469 - $23,132 -
1985 $1,138 - $29,468 -
1984 $1,120 - $32,012 -
1983 $1,490 - $34,650 -
1982 $1,430 - $39,972 -
1981 $1,325 - $44,855 -
1980 $1,235 - $42,925 -
1979 - - $34,238 -
1978 - - $29,379 -
1977 - - $35,020 -
1976 - - $31,197 -
1975 - - $27,117 -
1974 - - $23,823 -
1973 - - $9,696 -
1972 - - $3,675 -
1971 - - $2,805 -
1970 - - $2,394 -

Data sources: World Bank | Economy & Growth (1970–2025, retrieved 2026-07-08).

GeoRank.org/economy/mongolia/united-arab-emirates | CC BY

Mongolia's GDP per capita is $7,108, ranking 103/197, compared to $50,274 in the United Arab Emirates, ranking 25/197. Adjusted for purchasing power (GDP per capita PPP), Mongolia ranks 98th at $19,145, while the United Arab Emirates ranks 16th at $79,229.

Economic indicators

Mongolia UAE
Gross domestic product
$25.4B
2025
$552B
2024
GDP rank
123/197
2025
31/197
2024
GDP growth
6.84%
2024-2025
3.99%
2023-2024
GDP per capita
$7,108
2025
$50,274
2024
GDP per capita rank
103/197
2025
25/197
2024
GDP per capita, PPP
$19,145
2024
$79,229
2024
GDP per capita PPP rank
98/197
2024
16/197
2024
Government debt
$11.4B
2025
$193B
2024
Debt-to-GDP ratio
45.1%
2025
34.3%
2025
Government debt per person
$3,207
2025
$17,568
2024
Government debt per person rank
101/185
2025
37/185
2024
Average annual personal income after taxes
$7,064
2026
$40,096
2026
Market capitalization of domestic companies n/a
$1.11T
2025
Number of millionaires n/a
183,000
2026
Number of billionaires n/a
6
2026
Income share by richest 10%
24.6%
2022
20.5%
2018
Income share by poorest 10%
3.4%
2022
2.8%
2018
Government expenditure, % of GDP
34.6%
2025
22.6%
2025
Consumer prices inflation
8.6%
2024-2025
1.3%
2024-2025
Central bank interest rate
12%
2025
3.65%
2025
Unemployment rate
5.81%
2024
1.88%
2024
Population
3630744
11885001

Spending and national debt comparison by year

Mongolia
Spending

Debt
United Arab Emirates
Spending

Debt
1x
Year % of GDP
Mongolia UAE
Government spending Government debt Government spending Government debt
2025 34.6% 45.1% 22.6% 34.3%
2024 37.5% 44.1% 21.4% 34.9%
2023 31.9% 46.7% 22.7% 31.9%
2022 33.7% 64.5% 22.7% 31.5%
2021 35.9% 67.3% 25.9% 35.7%
2020 37.1% 83.4% 30.5% 30.1%
2019 30.8% 66.8% 27.4% 25.8%
2018 28.4% 76.5% 25.9% 20.7%
2017 32.2% 86.9% 27.2% 21.2%
2016 39.7% 78.7% 31.7% 18.6%
2015 31.2% 50.5% 26.4% 15.6%
2014 32.1% 44% 31.4% 13.5%
2013 32.2% 49.4% 28.9% 15.3%
2012 36.1% 43.7% 27.8% 20.2%
2011 37.9% 32.7% 29.6% 20.4%
2010 31.6% 31% 30.4% 18.3%
2009 35.5% 48.5% 35% 21.1%
2008 37.6% 31% 22% 8.95%
2007 35.3% 36.1% 17.7% 8.89%
2006 26.2% 40.9% 15.6% 5.05%
2005 25.1% 55.9% 15.7% 4.48%
2004 31.8% 75% 17.7% 4.08%
2003 33.7% 90% 20% 3.33%
2002 35.5% 72% 21.3% 3.43%
2001 35.2% 69.2% 25.2% 2.69%
2000 34.5% 79.3% 21.8% 3.12%
1999 33.2% 103.7% 24.3% 4.73%
1998 36.2% 77.5% 25.8% 4.18%
1997 30.8% 61% 22.6% 2.86%
1996 28.6% 49.7% 27.6% 3.48%
1995 26.6% 40.2% 26.1% 5.06%
1994 32.2% 57.6% 30.1% 5.58%
1993 38.3% 57.8% 31.5% 6.01%
1992 29.1% 29.3% 29.6% 5.31%
1991 46% - 36% 4.97%
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 (1991–2005, retrieved 2026-07-08).

GeoRank.org/economy/mongolia/united-arab-emirates | CC BY

In 2025, Mongolia's government spending was $8.78B, accounting for 34.6% of its GDP, while the United Arab Emirates spent $118B, or 22.6% of GDP.

Debt-to-GDP ratio is 45.1% in Mongolia and 34.3% in the United Arab Emirates, ranking 116/185 and 146/185, respectively.

Government deficit by year

Deficit/surplus
Mongolia

United Arab Emirates
1x
Year Deficit/surplus, % of GDP
Mongolia UAE
2025 1.7% 5.15%
2024 1.39% 6.41%
2023 2.73% 5.82%
2022 0.67% 9.8%
2021 -3.05% 3.96%
2020 -9.24% -2.42%
2019 1% 2.5%
2018 2.85% 3.65%
2017 -3.72% -0.16%
2016 -15.3% -2.95%
2015 -5.04% -6.35%
2014 -3.73% 1.74%
2013 -0.93% 7.99%
2012 -6.24% 8.59%
2011 -4.01% 5.05%
2010 0.43% 0.52%
2009 -5.2% -6.13%
2008 -4.52% 17.6%
2007 2.64% 17.1%
2006 7.58% 20.2%
2005 2.43% 16%
2004 -1.62% 6.4%
2003 -3.38% 2.35%
2002 -4.74% -1.24%
2001 -4.33% 1.21%
2000 -5.82% 10.7%
1999 -9.91% 1.31%
1998 -12.3% 1%
1997 -8.09% 6.71%
1996 -6.88% 0.92%
1995 -4.97% 3.58%
1994 -9.74% -1.78%
1993 -13.3% -2.89%
1992 -8.1% 3.34%
1991 -6.37% 3.89%
1990 -9.37% -

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

GeoRank.org/economy/mongolia/united-arab-emirates | CC BY

In 2024, Mongolia's government surplus, the difference between spending and revenue, was $331M, equivalent to 1.39% of GDP. This compares to the United Arab Emirates' surplus of $35.4B, or 6.41% of GDP.

Over the past 34 years, Mongolia recorded a fiscal deficit in 25 of those years, while the United Arab Emirates ran a deficit in 8 years. On average, Mongolia posted an annual deficit equal to 4.08% of GDP, compared to surplus of 4.25% of GDP for the United Arab Emirates.

Inflation comparison by year

Inflation
Mongolia

United Arab Emirates
1x
Year Consumer prices inflation
Mongolia UAE
2025 8.6% 1.3%
2024 6.2% 1.7%
2023 10.4% 1.6%
2022 15.1% 4.8%
2021 7.4% -0.1%
2020 3.7% -2.1%
2019 7.3% -1.9%
2018 6.8% 3.1%
2017 4.3% 2%
2016 0.8% 1.6%
2015 6.8% 4.1%
2014 12.9% 2.3%
2013 10.6% 1.1%
2012 13.8% 0.7%
2011 8.8% 0.9%
2010 8.3% 0.9%
2009 7.6% -4.7%
2008 28% 12.3%
2007 9.6% 11.1%
2006 4.4% 9.3%
2005 12.6% 6.2%
2004 8.3% 5%
2003 5.2% 3.1%
2002 0.9% 2.9%
2001 6.4% 2.8%
2000 11.3% 1.3%
1999 7.6% 2.1%
1998 9.5% 2%
1997 30% 3%

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

GeoRank.org/economy/mongolia/united-arab-emirates | CC BY

Over the past 29 years, Mongolia has recorded an average annual inflation rate of 9.42%, compared with 2.7% in the United Arab Emirates. In 2025, inflation was 8.6% in Mongolia and 1.3% in the United Arab Emirates.

Top exports between countries

Mongolia
Export category Export value
Processed food, beverages & tobacco $1.79M
Raw materials & minerals $1.46M
Machinery & equipment $1.02M
Animal & marine products $928K
Wood & paper products $301K
Textiles & consumer goods $73K
Chemicals & pharma $3K
Precious metals & jewellery $3K
Metals $1K
UAE
Export category Export value
Machinery & equipment $8.26M
Processed food, beverages & tobacco $1.75M
Raw materials & minerals $1.56M
Textiles & consumer goods $1.09M
Precious metals & jewellery $1.07M
Chemicals & pharma $589K
Raw agricultural goods $549K
Metals $305K
Animal & marine products $75K
Wood & paper products $36K

Balance of trade

Mongolia UAE
Current account balance
-$2.49B
2024
$80B
2024
Current account balance ranking
147/190
2024
9/190
2024
Current account balance, % of GDP
-10.4%
2024
+14.5%
2024
Goods imports
$11.7B
2024
$400B
2024
Goods exports
$14.7B
2024
$467B
2024
Service imports
$4.92B
2024
$117B
2024
Service exports
$1.6B
2024
$181B
2024
Imports of goods and services, % of GDP
62.6%
2025
92.2%
2023
Exports of goods and services, % of GDP
68.1%
2025
106.8%
2023

Economic freedom indices

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

Mongolia UAE
Economic freedom 63.9 71.9
Economic freedom ranking 76/197 29/197
Property rights 49.2 62.9
Government integrity 35.8 65.3
Judicial effectiveness 54.9 34.4
Tax burden 83.7 99.9
Government spending 64.6 85.1
Fiscal health 96.1 97.6
Business freedom 68.4 84.5
Labor freedom 68.2 63.2
Monetary freedom 72.1 81.2
Trade freedom 74.4 78.6
Investment freedom 50 50
Financial freedom 50 60

Economic freedom comparison by year

Mongolia
United Arab Emirates
1x
Year Economic freedom index
Mongolia UAE
2026 63.9 71.9
2025 62.6 71.6
2024 60.6 71.1
2023 61.7 70.9
2022 63.9 70.2
2021 62.4 76.9
2020 55.9 76.2
2019 55.4 77.6
2018 55.7 77.6
2017 54.8 76.9
2016 59.4 72.6
2015 59.2 72.4
2014 58.9 71.4
2013 61.7 71.1
2012 61.5 69.3
2011 59.5 67.8
2010 60 67.3
2009 62.8 64.7
2008 63.6 62.6
2007 60.3 62.6
2006 62.4 62.2
2005 59.7 65.2
2004 56.5 67.2
2003 57.7 73.4
2002 56.7 73.6
2001 56 74.9
2000 58.5 74.2
1999 58.6 71.5
1998 57.3 72.2
1997 52.9 71.9
1996 47.4 71.6
1995 47.8 -

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

GeoRank.org/economy/mongolia/united-arab-emirates | CC BY

The Economic Freedom Index for Mongolia is 63.9, ranking 76/197, compared to 71.9 for the United Arab Emirates, ranking 29/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Mongolia UAE
Services, % of GDP
44.3%
2025
54.9%
2024
Industry, % of GDP
37.2%
2025
44.3%
2024
Agriculture, forestry, and fishing, % of GDP
8.94%
2025
0.77%
2024
GNI, Atlas method
$22.2B
2025
$566B
2024
GNI per capita, PPP
$18,460
2025
$81,640
2024
Total reserves including gold
$7B
2025
$292B
2025
Total reserves ranking
91/177
2025
14/177
2025
Net foreign direct investment
-$2.73B
2024
$31.5B
2024
Net inflows of foreign direct investment
$2.78B
2024
$45.6B
2024
Net outflows of foreign direct investment
$55.5M
2024
$77.2B
2024
Servicing debt to the IMF, % of GNI
25.7%
2024
n/a
Poverty at national poverty lines
27.1%
2022
19.5%
2020
Gross capital formation, % of GDP
31.4%
2025
26.6%
2023

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/united-arab-emirates | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1970–2025, 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 (1991–2005, retrieved 2026-07-08)
  6. TradeMap (2021–2025, retrieved 2026-07-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  8. LivingCost (2026, retrieved 2026-07-08)
  9. Central Intelligence Agency (CIA) (2020, 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.