Mongolian economy

Mongolia's economy largely relies on natural resources, such as minerals, coal, and metals, which are significant exports. The country also engages in agriculture and livestock farming. Its economy is vulnerable to fluctuations in global commodity prices and changes in demand from major trading partners like China and Russia. Recent efforts focus on diversifying industries, boosting tourism, and improving infrastructure to reduce dependency on resource exports. While Mongolia experiences rapid growth at times, it also faces challenges like economic volatility, unemployment, and the need for sustainable development.