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MONGOLIA Tenders




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Capital Ulan Bator
ISO 3166 Code MN
Population 3,000,000
Area, Sq KM 1,565,000
Currency T?gr?g
Official Language Mongolian
GDP, Billion USD 10,271
GDP Growth Rate, % 9.1
Inflation, Avg CP, % Chng N/A
Interest Rates, % N/A
Unemployement Rate, % 8.77
Exchange Rate, 1 USD Equals 1919.50
International dial code 976
Time Zone GMT+08:00
Internet TLD .mn

Mongolia is a landlocked country which is located in east-central Asia. Mongolia is bordered by China to the south, west and east and Russia. Ulaanbaatar, the capital of Mongolia is also known to be the largest city of this country and is a home to almost 45% of the population. The political system of this country is considered to be a parliamentary republic. The territories of Mongolia were once ruled by several nomadic empires like the Rouran, the Xiongnu, the Xianbei, the Turkic Khaganate among others. In 1206, Genghis Khan founded the Mongol Empire. Later, his grandson Kublai Khan conquered China so that he can establish the Yuan dynasty. After the Yuan collapsed, the Mongols retreated to Mongolia. In the 16th century, Tibetan Buddhism spread in Mongolia and by the 1900s almost half of the adult male population became Buddhist monks.On December, in the year 1911 Mongolia declared its independence from the Qing dynasty. After which, the country came under Soviet control which resulted in the proclamation of the Mongolian People's Republic as a Soviet satellite state in the year 1924. After the anti-Communist revolutions of 1989, Mongolia saw its own peaceful democratic revolution in early 1990 which led to a multi-party system, a new constitution of 1992, and transition to a market economy. Mongolia covers around 1,564,116 square kilometers area and considered to be the 19th largest along with being one of the most sparsely populated independent countries in the world. It has a population of around 3 million people and is considered to be the second-largest landlocked country. Approximately 30% of the population in Mongolia are nomadic or are semi-nomadic. Mongolia joined the WTO in 1997 and aspires to expand its participation in regional economic as well as trade regimes. Economic activity in this country has traditionally been based on agriculture and herding, although development of extensive mineral deposits like coal, tin, tungsten, copper, molybdenum and gold have emerged as a driver of industrial production. Besides mining which constitute 21.8% of GDP and agriculture which comprises 16% of GDP, dominant industries in the composition of GDP are wholesale and retail trade and service, real estate activities and transportation and storage. As per the World Bank, Mongolia is ranked as lower middle income economy as 22.4% of the population lives on less than US$1.25 a day. GDP per capita of this country as of 2011 was $3,100 and despite the growth, the proportion of the population below the poverty line was estimated to be 35.6% in 1998, and 32.2% in the year 2006.

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