Mongolia: Lending interest rate (%)

Key figures

What the numbers say

In 2021, Mongolia's lending interest rate (%) fell 0.92 percentage points on 2020 (from 16.93% to 16.01%).

Across the 22 yearly changes before that (1999 to 2020), the average change was −1.42 percentage points and a typical year strayed about 2.24 percentage points from that (the standard deviation). This year's change was 0.2 standard deviations above 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 1.5 percentage points in 2012 and the biggest yearly fall was 7.06 percentage points in 2000. 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 downward, about 0.27 percentage points a year. A straight line explains 38% 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.

How it compares

In 2021, Mongolia had the 2nd highest value of the 11 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

• Micronesia, Fed. Sts. — 2nd of 11: 12.62%
• Paraguay — 3rd of 11: 12.51%
• Pakistan — 4th of 11: 8.67%

What this measures

Lending rate is the bank rate that usually meets the short- and medium-term financing needs of the private sector. This rate is normally differentiated according to creditworthiness of borrowers and objectives of financing. The terms and conditions attached to these rates differ by country, however, limiting their comparability.

Limitations: Countries use a variety of reporting formats, sample designs, interest compounding formulas, averaging methods, and data presentations for indices and other data series on interest rates. The IMF's Monetary and Financial Statistics Manual does not provide guidelines beyond the general recommendation that such data should reflect market prices and effective (rather than nominal) interest rates and should be representative of the financial assets and markets to be covered. For more information, please see http://www.imf.org/external/pubs/ft/mfs/manual/index.htm.

All 24 values

Lending interest rate (%) in nearby economies

• Australia — 5.1% (2019)
• Brunei Darussalam — 5.5% (2025)
• China — 4.35% (2024)
• Fiji — 4.56% (2024)
• Hong Kong SAR, China — 5.18% (2025)
• Indonesia — 8.5% (2025)
• Japan — 0.99% (2017)
• Korea, Rep. — 4.19% (2025)
• Macao SAR, China — 5.45% (2025)
• Malaysia — 4.82% (2025)
• Micronesia, Fed. Sts. — 12.62% (2021)

More financial sector data for Mongolia

• DEC alternative conversion factor (LCU per US$) — US$3,545 (2025)
• GDP deflator (base year varies by country) — 261.96 (2025)
• Inflation, GDP deflator (annual % growth) — 4.36% (2025)
• Inflation, GDP deflator, linked series (annual % growth) — 4.36% (2025)
• GDP deflator, linked series (base year varies by country) — 261.96 (2025)
• Domestic credit to private sector by banks (% of GDP) — 48.52% (2025)
• Official exchange rate (LCU per US$, period average) — US$3,545 (2025)
• Net domestic credit (current LCU) — 36.24 trillion (2024)
• Net foreign assets (current LCU) — 8.6 trillion (2024)

Reading data like this

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Questions people ask

What is Mongolia's lending interest rate (%)?

16.01% in 2021, according to the World Bank (World Development Indicators).

How has it changed since 1998?

It is down 32.06 percentage points from 48.06% in 1998. The highest value was 48.06% in 1998 and the lowest 16.01% in 2021.

How does Mongolia rank?

2nd highest of 11 economies with data for 2021.

Is the latest change in lending interest rate (%) unusual for Mongolia?

In 2021, Mongolia's lending interest rate (%) fell 0.92 percentage points on 2020 (from 16.93% to 16.01%). Across the 22 yearly changes before that (1999 to 2020), the average change was −1.42 percentage points and a typical year strayed about 2.24 percentage points from that (the standard deviation). This year's change was 0.2 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

Source

World Bank, World Development Indicators, indicator FR.INR.LEND, licensed CC BY 4.0. Original source: International Financial Statistics database, 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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