Mongolia - Country history and economic development



1921. Mongolia declares independence from China.

1924. Mongolian People's Revolutionary Party (MPRP) comes to power, remaining the ruling party for the next 70 years.

1946. China formally recognizes Mongolia's independence.

1961. Mongolia joins the United Nations.

1987. Mongolia normalizes its relations with China and signs a treaty concerning the resolution of border disputes.

1990. Mongolian Constitution is amended, and the first multiparty election for Parliament takes place.

1992. New constitution is adopted by the Great Hural (Parliament).

1993. Punsalmaagiin Ochirbat is elected president in the first direct presidential election.

1993. Mongolian tughrik is made freely convertible.

1996. For the first time in modern Mongolian electoral history, the MPRP is defeated by a Democratic Coalition led by the MNDP and the MSDP.

1997. Mongolia joins the World Trade Organization.

2000. MPRP returns to power, taking 72 seats in parliamentary elections.

Household Consumption in PPP Terms
Country All food Clothing and footwear Fuel and power a Health care b Education b Transport & Communications Other
Mongolia 56 14 9 8 14 1 -2
United States 13 9 9 4 6 8 51
China N/A N/A N/A N/A N/A N/A N/A
Kazakhstan 37 10 20 9 6 6 12
Data represent percentage of consumption in PPP terms.
a Excludes energy used for transport.
b Includes government and private expenditures.
SOURCE: World Bank. World Development Indicators 2000.
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