Is Mongolia a poor country or a rich country?

Answer 1

Not really :) However, this information will give you a brief overview:

Mongolia's economy is centered on agriculture and mining. Mongolia has rich mineral resources, and copper, coal, molybdenum, tin, tungsten, and gold account for a large part of industrial production. There are currently over 30,000 independent businesses in Mongolia, chiefly centered around the capital city. The majority of the population outside urban areas participate in subsistence herding; livestock typically consists of sheep, goats, cattle, horses, and Bactrian camels. Agricultural crops include wheat, barley, potato, vegetables, tomato, watermelon, sea-buckthorn and fodder crops. GDP per capita in 2006 was $2,100.[14] Although GDP has risen steadily since 2002 at the rate of 7.5% in an official 2006 estimate, the state is still working to overcome a sizable trade deficit. A massive ($11 billion) foreign debt to Russia was settled by the Mongolian government in 2004 with a $250 million payment. Despite growth, the proportion of the population below the poverty line is estimated to be 35.6% in 1998, 36.1% in 2002-2003, 32.2% in 2006,[15] and both the unemployment rate and inflation rate are relatively high at 3.2% and 6.0%, respectively (in 2006) Mongolia's largest trading partner is China. As of 2006, 68.4% of Mongolia's exports went to China, and China supplied 29.8% of Mongolia's imports.[16]