The monthly minimum wage in Mongolia is $98. In terms of consumer prices, the inflation rate in Mongolia is 8.2%. The currency of Mongolia is the Mongolian Togrog. There are several plural forms of the name “Mongolian Togrog”. These are Tögrögs, Tugriks. The symbol used for this currency is ₮ and is abbreviated as MNT. The Mongolian Togrog is divided into Mongo; In a Togrog there are 100. Every year consumers spend around $1,975 million. The ratio of consumer spending to GDP in Mongolia is 0.02%, and the ratio of consumer spending to the world consumer market is 0.57%. The corporate tax in Mongolia is 10%. The VAT in Mongolia is 10%. In 2013, Mongolia received $448.7 million in foreign aid. In 2014, foreign aid totaled $350.6 million.
Gross domestic product
The total gross domestic product (GDP), calculated as purchasing power parity (PPP), in Mongolia is US$34,869 billion. The gross domestic product (GDP) in Mongolia, calculated as purchasing power parity (PPP) per capita, was most recently at 11,169,618 US dollars. The PPP in Mongolia is considered very good compared to other countries. A very good PPP indicates that citizens in this country find it easy to buy local goods. Local goods may include food, shelter, clothing, health care, personal care, essential furnishings, transportation and communications, laundry, and various types of insurance. Countries with very good purchasing power parities are safe locations for investments. The total gross domestic product (GDP) in Mongolia is 11,516 billion. Based on these statistics, Mongolia is considered to have a medium economy. Medium economy countries support an average number of industries and investment opportunities. It shouldn't be too difficult to find worthwhile investment opportunities in medium-sized economies. The gross domestic product (GDP) per capita in Mongolia was most recently at $3,688,931. The average citizen in Mongolia has a very high level of wealth. Countries with very high per capita wealth have a longer life expectancy and a very high standard of living. There are highly skilled workers in many industries, and labor is very expensive in these countries. Very wealthy countries offer opportunities for safe investments as they are often supported by a diverse and thriving financial sector. The annual GDP growth rate in Mongolia averaged 9.1% in 2014. According to this percentage, Mongolia is currently experiencing significant growth. Countries experiencing significant growth offer the best chance of a significant return on investment, as the GDP growth rate is the most important indicator of economic health. As GDP grows, so do businesses, jobs, and personal income.
