Mongolia: Central government debt, total (% of GDP)

Key figures

Over five years it is down 17.5 percentage points from 60.84% in 2019. Since 1992 it is up 22.72 percentage points from 20.62% in 1992. The World Bank has no value for 18 of the years in between; the chart leaves those gaps open rather than joining across them.

What the numbers say

On record, the biggest yearly rise was 20.82 percentage points in 1993 and the biggest yearly fall was 14.36 percentage points in 1995. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

How it compares

In 2024, Mongolia had the 20th highest value of the 28 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.

Closest to Mongolia in the 2024 ranking

• Mexico — 17th of 28: 50.27%
• Albania — 18th of 28: 49.96%
• Korea, Rep. — 19th of 28: 47.81%
• Georgia — 21st of 28: 40.1%
• Bosnia and Herzegovina — 22nd of 28: 39.74%
• Kyrgyz Republic — 23rd of 28: 38.72%

What this measures

Debt is the entire stock of direct government fixed-term contractual obligations to others outstanding on a particular date. It includes domestic and foreign liabilities such as currency and money deposits, securities other than shares, and loans. It is the gross amount of government liabilities reduced by the amount of equity and financial derivatives held by the government. Because debt is a stock rather than a flow, it is measured as of a given date, usually the last day of the fiscal year. Central government is the part of general government that includes all administrative departments of the national executive, legislative, and judicial functions, other central agencies and those non-market producers controlled by the central government, whose competence extends normally over the whole economic territory. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.

Limitations: For most countries central government finance data have been consolidated into one account, but for others only budgetary central government accounts are available. Countries reporting budgetary data are noted in the country metadata. Because budgetary accounts may not include all central government units (such as social security funds), they usually provide an incomplete picture. In federal states the central government accounts provide an incomplete view of total public finance. Data on government revenue and expense are collected by the IMF through questionnaires to member countries and by the Organisation for Economic Co-operation and Development (OECD).

Regional and income-group figures are computed by the World Bank as a weighted average.

All 15 values

Central government debt, total (% of GDP) in nearby economies

• Australia — 57.88% (2022)
• Korea, Rep. — 47.81% (2024)
• Malaysia — 64.57% (2024)
• Marshall Islands — 41.56% (2019)
• Micronesia, Fed. Sts. — 27.8% (2020)
• New Zealand — 51.99% (2024)
• Palau — 85.2% (2019)
• Papua New Guinea — 52.01% (2024)
• Singapore — 167.8% (2024)
• Solomon Islands — 26.04% (2024)

More public sector data for Mongolia

• Military expenditure (current LCU) — 784.57 billion (2025)
• Military expenditure (% of GDP) — 0.88% (2025)
• Military expenditure (% of general government expenditure) — 2.47% (2025)
• Arms imports (SIPRI trend indicator values) — 3 million (2022)
• Military expenditure (current USD) — 221.32 million (2025)
• Armed forces personnel, total — 18,000 (2020)
• Net acquisition of financial assets (current LCU) — 1.88 trillion (2024)
• Net acquisition of financial assets (% of GDP) — 2.34% (2024)
• Net incurrence of liabilities, total (current LCU) — 420.26 billion (2024)

Reading data like this

• Where to find free public data, and how to check it before you trust it — 2 min read
• Data analysis examples: 6 worked from one dataset — 3 min read
• Real change or random noise? A plain guide to reading your numbers — 2 min read

Questions people ask

What is Mongolia's central government debt, total (% of GDP)?

43.34% in 2024, according to the World Bank (World Development Indicators).

How has it changed since 1992?

It is up 22.72 percentage points from 20.62% in 1992. The highest value was 83.91% in 1999 and the lowest 20.62% in 1992.

How does Mongolia rank?

20th highest of 28 economies with data for 2024.

Where does this data come from?

The World Bank's World Development Indicators, licensed CC BY 4.0. Original source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).

Source

World Bank, World Development Indicators, indicator GC.DOD.TOTL.GD.ZS, licensed CC BY 4.0. Original source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

Want to ask your own questions of data like this? Try AnalyzeIt: upload a file or ask about public data in plain words, and every figure comes with its working.