Personal remittances, received in Mongolia
Mongolia: Personal remittances, received was 2.2% in 2024. ◆ Volatile
Personal remittances, received in Mongolia, 1998–2024
Source: Staff estimates, World Bank (WB). Measured in % of GDP.
Analysis
In 2024, personal remittances, received in Mongolia stood at 2.2%.
Compared with earlier readings it is down 1.0% on the previous year and up 6.3% over ten years.
Over the whole period, personal remittances, received in Mongolia peaked at 10.2% in 2004 and was at its lowest, 0.1%, in 2000.
That places Mongolia 100th out of 195 countries with data for 2024, putting it in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Personal remittances, received in Mongolia, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1998 | 0.5% | — |
| 1999 | 0.7% | +52.2% |
| 2000 | 0.1% | -87.0% |
| 2001 | 2.1% | +2072.5% |
| 2002 | 4.9% | +133.7% |
| 2003 | 5.0% | +1.1% |
| 2004 | 10.2% | +104.4% |
| 2005 | 7.0% | -31.0% |
| 2006 | 4.5% | -35.2% |
| 2007 | 4.2% | -7.5% |
| 2008 | 4.0% | -5.0% |
| 2009 | 4.4% | +9.0% |
| 2010 | 3.7% | -15.0% |
| 2011 | 2.4% | -35.2% |
| 2012 | 2.6% | +9.8% |
| 2013 | 2.0% | -22.4% |
| 2014 | 2.1% | +2.1% |
| 2015 | 2.2% | +7.6% |
| 2016 | 2.3% | +3.5% |
| 2017 | 2.4% | +2.4% |
| 2018 | 3.3% | +40.4% |
| 2019 | 3.9% | +18.1% |
| 2020 | 4.1% | +4.4% |
| 2021 | 3.1% | -25.2% |
| 2022 | 2.3% | -24.5% |
| 2023 | 2.2% | -3.8% |
| 2024 | 2.2% | -1.0% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 0.6% | 0.5% | 0.7% | 2 |
| 2000s | 4.6% | 0.1% | 10.2% | 10 |
| 2010s | 2.7% | 2.0% | 3.9% | 10 |
| 2020s | 2.8% | 2.2% | 4.1% | 5 |
Countries ranked near Mongolia
More economy & growth data for Mongolia
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 4.08 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 5.17 Percent per annum (2029)
- Services, value added (constant LCU), per capita 4.71 million constant LCU per person (2025)
- GDP deflator (base year varies by country), annual growth rate 4.36 % change on previous year (2025)
- Gross value added at basic prices (GVA) (current US$), annual growth 7.52 % change on previous year (2025)
- Gross value added at basic prices (GVA) (current US$), per unit of GDP 0.9053 current US$ per US$ of GDP (2025)
- Gross value added at basic prices (GVA) (current US$), per capita 6,435 current US$ per person (2025)
- Gross value added at basic prices (GVA) (current LCU), annual growth 12.44 % change on previous year (2025)
- Gross value added at basic prices (GVA) (current LCU), per unit of GDP 3,209 current LCU per US$ of GDP (2025)
- Gross value added at basic prices (GVA) (current LCU), per capita 22.81 million current LCU per person (2025)
Frequently asked questions
- What is personal remittances, received in Mongolia?
- Personal remittances, received in Mongolia was 2.2% in 2024, according to Staff estimates, World Bank (WB).
- What is the highest personal remittances, received recorded in Mongolia?
- The highest recorded value was 10.2% in 2004.
- What is the lowest personal remittances, received recorded in Mongolia?
- The lowest recorded value was 0.1% in 2000.
- How does Mongolia rank for personal remittances, received?
- Mongolia ranks 100th out of 195 countries with data for 2024.
- Is personal remittances, received rising or falling in Mongolia?
- Over the last ten years it is up 6.3%. The long-run trend across the full record is volatile.
- Where does this Mongolia data come from?
- The figures come from Staff estimates, World Bank (WB), published as part of Personal remittances, received (% of GDP). Statizoid updates them automatically from the source API.
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About this data
Personal remittances comprise personal transfers and compensation of employees. Personal transfers consist of all current transfers in cash or in kind made or received by resident households to or from nonresident households. Personal transfers thus include all current transfers between resident and nonresident individuals. Compensation of employees refers to the income of border, seasonal, and other short-term workers who are employed in an economy where they are not resident and of residents employed by nonresident entities. Data are the sum of two items defined in the sixth edition of the IMF's Balance of Payments Manual: personal transfers and compensation of employees.