Location of Mongolia
Location of Mongolia

Mongolia is a landlocked unitary sovereign state in East Asia. Economic activity in Mongolia has traditionally been based on herding and agriculture, although development of extensive mineral deposits of copper, coal, molybdenum, tin, tungsten, and gold have emerged as a driver of industrial production.[1] Besides mining (21.8% of GDP) and agriculture (16% of GDP), dominant industries in the composition of GDP are wholesale and retail trade and service, transportation and storage, and real estate activities.[1] The grey economy is estimated to be at least one-third the size of the official economy.[1] As of 2006, 68.4% of Mongolia's exports went to the PRC, and the PRC supplied 29.8% of Mongolia's imports.[2]

For further information on the types of business entities in this country and their abbreviations, see "Business entities in Mongolia".

Notable firms

This list includes notable companies with primary headquarters located in the country. The industry and sector follow the Industry Classification Benchmark taxonomy. Organizations which have ceased operations are included and noted as defunct.

Notable companies
     Active      State-owned      Defunct
Name Industry Sector Headquarters Founded Notes
Aero Mongolia Consumer services Airlines Ulaanbaatar 2002 Domestic and regional airline
Bank of Mongolia Financials Banks Ulaanbaatar 1991 National central bank
DDishTV Telecommunications Mobile telecommunications Ulaanbaatar 2008 Satellite TV and communication
Eznis Airways Consumer services Airlines Ulaanbaatar 2006 Airline, defunct 2014
G-Mobile Telecommunications Mobile telecommunications Ulaanbaatar 2007 Mobile phone network
Golomt Bank Financials Banks Ulaanbaatar 1995 Banking and financial services
Hunnu Air Consumer services Airlines Ulaanbaatar 2011 International and domestic airline
MIAT Mongolian Airlines Consumer services Airlines Ulaanbaatar 1956 International airline, national flag carrier
Mobicom Corporation Telecommunications Mobile telecommunications Ulaanbaatar 1996 Mobile, part of KDDI (Japan)
Mongolian National Broadcaster Consumer services Broadcasting & entertainment Ulaanbaatar 1931 National television network
Newcom Group Conglomerates - Ulaanbaatar 1993 Investment holding group
Skytel (Mongolia) Telecommunications Mobile telecommunications Ulaanbaatar 1999 Mobile service provider
Tavan Bogd Group Conglomerates - Ulaanbaatar 1995 Investment holding group
The State bank Financials Banks Ulaanbaatar 2009 State-owned commercial bank, former Zoos bank
UFC Group Consumer goods Food products Ulaanbaatar 1942 Food and beverage company
Unitel (Mongolia) Telecommunications Mobile telecommunications Ulaanbaatar 2005 Mobile
XacBank Financials Banks Ulaanbaatar 2001 Community development bank
Zoos Bank Financials Banks Ulaanbaatar 1999 Commercial bank, defunct 2009, now The State bank

See also


  1. ^ a b c "Background Note: Mongolia". Bureau of East Asian and Pacific Affairs.
  2. ^ Morris Rossabi; Vladimir Socor (May 5, 2005). "Beijing's growing politico-economic leverage over Ulaanbaatar". Jamestown Foundation. Retrieved 2013-06-28.