Mongolia External Debt to GNI
External debt stocks as % of GNI DT.DOD.DECT.GN.ZS
Mongolia's external debt to gni was 150.69% in 2025, ranked 4th globally. This represents a 17.1% decrease from 2024. Data from World Bank, covering 1992–2025.
Overview
Mongolia's external debt to gni stood at 150.69% in 2025, a decline of +31.17pp from 2024. Based on recent trends, this figure is projected to reach 150.69% by 2025. Mongolia ranked 4th globally.
Mongolia’s external debt relative to gross national income has risen sharply since the early 1990s, climbing from a trough of 27.49 % in 1992 to an all‑time peak of 301.21 % in 2017, before easing to 150.69 % in 2025, which places it fourth highest globally. The surge after 1992 reflects rapid borrowing to finance mineral‑sector expansion and infrastructure projects, while the 2017 apex coincided with a slowdown in commodity prices and a widening fiscal deficit that forced the government to rely heavily on external financing. By 2025, debt‑to‑GNI has contracted but remains markedly above peer economies such as Senegal (169.05 %) and Suriname (134.69 %). The modest decline suggests that tighter fiscal consolidation and modest growth in export earnings are beginning to curb debt accumulation, yet sustaining a downward trajectory will depend on continued diversification of the export base and disciplined borrowing practices.
Data & projection
| Year | External Debt to GNI | YoY change | Rank |
|---|---|---|---|
| 2027* trend | 100.29% | - | - |
| 2026* trend | 125.49% | - | - |
| 2025* trend | 150.69% | - | - |
| 2025 | 150.69% | −31.17pp | #4 |
| 2024 | 181.86% | −11.77pp | #109 |
| 2023 | 193.63% | −23.73pp | #114 |
| 2022 | 217.36% | −50.46pp | #116 |
| 2021 | 267.82% | −2.94pp | #116 |
| 2020 | 270.76% | +7.13pp | #117 |
| 2019 | 263.63% | −1.08pp | #117 |
| 2018 | 264.71% | −36.51pp | #118 |
| 2017 | 301.21% | +43.72pp | #118 |
| 2016 | 257.50% | +31.10pp | #118 |
| 2015 | 226.40% | +24.65pp | #118 |
| 2014 | 201.75% | +31.90pp | #117 |
| 2013 | 169.85% | +29.82pp | #117 |
| 2012 | 140.03% | +39.22pp | #116 |
| 2011 | 100.81% | +11.12pp | #113 |
Detected Pattern
Analysis
Mongolia matched the Export Boom Cycle pattern in 2023. Historically, 71% of countries showing this pattern (546 out of 768) saw external debt to gni improve within 24 months. View full analysis →
Frequently Asked Questions
Mongolia's external debt to gni was 150.69% in 2025. Ranked 4th globally. This represents a 17.1% decrease from the previous year.
Mongolia's external debt to gni peaked at 301.21% in 2017.
The lowest external debt to gni in Mongolia was 27.49% in 1992.
Mongolia ranks 4th globally in external debt to gni as of 2025.
The World Bank indicator code is DT.DOD.DECT.GN.ZS. Data sourced from World Bank.
Mongolia's external debt to gni is projected to reach 150.69% by 2025 based on trend extrapolation.
The external debt to gni of Mongolia in 2025 was 150.69%. This ranks 4th in the world.
Cite this page
@misc{historysaid_mongolia_external-debt-to-gni,
title = {Mongolia External Debt to GNI},
url = {https://historysaid.com/mongolia/external-debt-to-gni/},
publisher = {HistorySaid},
year = {2026}
}