Trade in services in Mongolia
Mongolia: Trade in services was 27.4% in 2024. ◆ Volatile
Trade in services in Mongolia, 1981–2024
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of GDP.
Analysis
The most recent figure for trade in services in Mongolia is 27.4%, measured in 2024.
The figure is down 3.3% on the previous year and up 34.0% over ten years.
Over the whole period, trade in services in Mongolia peaked at 38.8% in 2004 and was at its lowest, 3.0%, in 1981.
That places Mongolia 77th out of 199 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.
Trade in services in Mongolia, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1981 | 3.0% | — |
| 1982 | 3.5% | +16.4% |
| 1983 | 3.6% | +4.2% |
| 1984 | 4.4% | +23.5% |
| 1985 | 5.0% | +13.1% |
| 1986 | 9.5% | +89.8% |
| 1987 | 9.7% | +1.7% |
| 1988 | 9.8% | +1.3% |
| 1989 | 7.1% | -27.4% |
| 1990 | 7.1% | -0.3% |
| 1991 | 3.5% | -50.9% |
| 1992 | 7.4% | +111.0% |
| 1993 | 11.1% | +51.2% |
| 1994 | 14.8% | +32.6% |
| 1995 | 10.5% | -28.8% |
| 1996 | 12.5% | +19.1% |
| 1997 | 13.4% | +6.7% |
| 1998 | 20.1% | +50.1% |
| 1999 | 20.1% | +0.2% |
| 2000 | 21.1% | +5.1% |
| 2001 | 25.1% | +18.9% |
| 2002 | 32.3% | +28.5% |
| 2003 | 34.2% | +5.8% |
| 2004 | 38.8% | +13.5% |
| 2005 | 32.3% | -16.7% |
| 2006 | 26.5% | -18.0% |
| 2007 | 24.5% | -7.5% |
| 2008 | 20.4% | -16.7% |
| 2009 | 21.6% | +5.7% |
| 2010 | 17.7% | -17.8% |
| 2011 | 18.2% | +2.4% |
| 2012 | 22.2% | +22.3% |
| 2013 | 21.4% | -3.8% |
| 2014 | 20.5% | -4.1% |
| 2015 | 18.0% | -12.0% |
| 2016 | 26.3% | +46.0% |
| 2017 | 27.4% | +4.2% |
| 2018 | 28.6% | +4.3% |
| 2019 | 31.4% | +9.8% |
| 2020 | 20.7% | -33.9% |
| 2021 | 21.6% | +4.3% |
| 2022 | 27.0% | +24.8% |
| 2023 | 28.4% | +5.2% |
| 2024 | 27.4% | -3.3% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1980s | 6.2% | 3.0% | 9.8% | 9 |
| 1990s | 12.0% | 3.5% | 20.1% | 10 |
| 2000s | 27.7% | 20.4% | 38.8% | 10 |
| 2010s | 23.2% | 17.7% | 31.4% | 10 |
| 2020s | 25.0% | 20.7% | 28.4% | 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 trade in services in Mongolia?
- Trade in services in Mongolia was 27.4% in 2024, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest trade in services recorded in Mongolia?
- The highest recorded value was 38.8% in 2004.
- What is the lowest trade in services recorded in Mongolia?
- The lowest recorded value was 3.0% in 1981.
- How does Mongolia rank for trade in services?
- Mongolia ranks 77th out of 199 countries with data for 2024.
- Is trade in services rising or falling in Mongolia?
- Over the last ten years it is up 34.0%. The long-run trend across the full record is volatile.
- Where does this Mongolia data come from?
- The figures come from Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Trade in services (% of GDP). Statizoid updates them automatically from the source API.
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About this data
Total trade in services includes services provided by residents to non-residents plus services provided by non-residents to residents. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.