Mongolia's taxes on goods and services (current LCU) was 7.09 trillion in 2024, the latest year in the World Bank's World Development Indicators. That is up 276.92% from 1.88 trillion in 2014 (14.19% a year on average, compounded).
Key figures
| Value | Year | |
|---|---|---|
| Latest | 7.09 trillion | 2024 |
| Five years earlier | 3.46 trillion | 2019 |
| Ten years earlier | 1.88 trillion | 2014 |
| Highest | 7.09 trillion | 2024 |
| Lowest | 2.68 billion | 1992 |
| Average since 2015 | 3.71 trillion | 2015–2024 |
| First recorded | 2.68 billion |
What the numbers say
In 2024, Mongolia's taxes on goods and services (current LCU) rose 25.2% on 2023 (from 5.66 trillion to 7.09 trillion).
Across the 26 yearly changes before that (1993 to 2023), the average change was +34.2% and a typical year strayed about 63% from that (the standard deviation). This year's change was 0.1 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 322% in 1993 and the biggest yearly fall was 23% in 2007. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.
From 2015 to 2024 the straight-line trend is upward, about 552.53 billion a year. A straight line explains 92% 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 2024, Mongolia had the 11th highest value of the 91 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
What this measures
General taxes on goods and services are taxes levied on the production, leasing, delivery, sale, purchase or other change of ownership of a wide range of goods and the provision of a wide range of services. 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 30 values
| Year | Taxes on goods and services (current LCU) |
|---|---|
| 2024 | 7,090,563,284,954 |
| 2023 | 5,663,830,176,163 |
| 2022 | 4,844,958,594,870 |
| 2021 | 4,160,926,048,700 |
| 2020 | 3,076,486,530,526 |
| 2019 | 3,459,007,594,701 |
| 2018 | 3,049,251,834,709 |
| 2017 | 2,229,541,761,000 |
| 2016 | 1,850,158,901,157 |
| 2015 | 1,708,048,724,624 |
Taxes on goods and services (current LCU) in nearby economies
- Australia — 110.61 billion (2022)
- Cambodia — 10.87 trillion (2023)
- China — 5.69 trillion (2024)
- Fiji — 1.69 billion (2024)
- Kiribati — 46.08 million (2023)
- Korea, Rep. — 114.81 trillion (2024)
- Lao PDR — 17.31 trillion (2022)
- Macao SAR, China — 96.35 billion (2024)
- Malaysia — 73.29 billion (2024)
- Marshall Islands — 14.36 million (2020)
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
Questions people ask
- What is Mongolia's taxes on goods and services (current LCU)?
- 7.09 trillion in 2024, according to the World Bank (World Development Indicators).
- How has it changed since 1992?
- It is up 264,276% from 2.68 billion in 1992 (27.92% a year on average, compounded). The highest value was 7.09 trillion in 2024 and the lowest 2.68 billion in 1992.
- How does Mongolia rank?
- 11th highest of 91 economies with data for 2024.
- Is the latest change in taxes on goods and services (current LCU) unusual for Mongolia?
- In 2024, Mongolia's taxes on goods and services (current LCU) rose 25.2% on 2023 (from 5.66 trillion to 7.09 trillion). Across the 26 yearly changes before that (1993 to 2023), the average change was +34.2% and a typical year strayed about 63% from that (the standard deviation). This year's change was 0.1 standard deviations below 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 GC.TAX.GSRV.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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