Mongolia: Expense (current LCU)

Key figures

What the numbers say

In 2021, Mongolia's expense (current LCU) rose 11.1% on 2020 (from 12.43 trillion to 13.81 trillion).

Across the 25 yearly changes before that (1993 to 2020), the average change was +34.4% and a typical year strayed about 49.1% from that (the standard deviation). This year's change was 0.5 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

On record, the biggest yearly rise was 255.9% in 1993. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2012 to 2021 the straight-line trend is upward, about 1.01 trillion a year. A straight line explains 87% of the movement over 10 observed years.

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

A straight-line projection, tested first

Extending that straight line gives about 14.71 trillion for 2024. We show this only because the same method, fitted on earlier years, predicted 2019 to 2021 better than "no change" would have: its average miss was 3.27 trillion, against 4.64 trillion for assuming no change. Treat it as a continuation of the recent pattern, not a forecast of events: it cannot see a recession, a policy change or a revision to the data.

See how a linear trend forecast works and the guide on forecasting without fooling yourself.

How it compares

In 2021, Mongolia had the 2nd highest value of the 14 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 2021 ranking

• Lebanon — 1st of 14: 17.12 trillion
• Cameroon — 3rd of 14: 3.1 trillion
• Bangladesh — 4th of 14: 2.94 trillion
• Gabon — 5th of 14: 1.52 trillion

What this measures

Expense is a decrease in net worth resulting from a transaction. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.

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).

All 28 values

Expense (current LCU) in nearby economies

• Australia — 644.6 billion (2022)
• Cambodia — 22.54 trillion (2023)
• Fiji — 3.42 billion (2023)
• Japan — 117.32 trillion (2022)
• Kiribati — 367.36 million (2023)
• Korea, Rep. — 682.2 trillion (2023)
• Lao PDR — 22.4 trillion (2022)
• Macao SAR, China — 72.06 billion (2023)
• Malaysia — 310.25 billion (2023)
• Marshall Islands — 143.73 million (2020)
• Micronesia, Fed. Sts. — 87.36 million (2020)
• Myanmar

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 expense (current LCU)?

13.81 trillion in 2021, according to the World Bank (World Development Indicators).

How has it changed since 1992?

It is up 147,443% from 9.36 billion in 1992 (28.61% a year on average, compounded). The highest value was 13.81 trillion in 2021 and the lowest 9.36 billion in 1992.

How does Mongolia rank?

2nd highest of 14 economies with data for 2021.

Source

World Bank, World Development Indicators, indicator GC.XPN.TOTL.CN, 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.

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