Mongolia has a population of 2.9 million people, and a land mass of 1,5 millioner km2. Life expectancy is 69 years, and with a per capita GDP of USD 4339, the country is classified as a higher middle income country. The country's GDP grew in 2019 with 5.2%, and totaled a nominal value of USD 13.9 billion.
Mongolia is ranked at place 81 in the World Bank Doing Business Index, out of 190 countries in total. On Transparency International's corruption perception index, Mongolia is ranked at place 111, out of 180 countries in total.
Norwegian exports to Mongolia in 2020 were NOK 6 million. The same year, Norway imported goods from Mongolia at a value of NOK3 million.