Mongolia - Income



The US Central Intelligence Agency (CIA) reports that in 2001 Mongolia's gross domestic product (GDP) was estimated at $4.7 billion. The per capita GDP was estimated at $1,770. The annual growth rate of GDP was estimated at 2.4%. The average inflation rate in 2000 was 11.8%. The CIA defines GDP as the value of all final goods and services produced within a nation in a given year and computed on the basis of purchasing power parity (PPP) rather than value as measured on the basis of the rate of exchange. It was estimated that agriculture accounted for 32% of GDP, industry 30%, and services 38%.

According to the United Nations, in 2000 remittances from citizens working abroad totaled $12 million or about $3 per capita and accounted for approximately 0.8% of GDP. Worker remittances in 2001 totaled $24 million. Foreign aid receipts amounted to about $88 per capita and accounted for approximately 21% of the gross national income (GNI).

Approximately 56% of household consumption was spent on food, 9% on fuel, 8% on health care, and 14% on education. The richest 10% of the population accounted for approximately 24.5% of household consumption and the poorest 10% approximately 2.9%. Household consumption includes expenditures of individuals, households, and nongovernmental organizations on goods and services, excluding purchases of dwellings. It was estimated that in 2001 about 36% of the population had incomes below the poverty line.

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