HomeCountries & Areas…Mongolia hide Mongolia Subscribe View Fact Sheet Embassies & Consulates Bureau of East Asian and Pacific Affairs International Travel Information What you need to know before you go: visas, Embassy & Consulate locations, vaccinations, etc. International Travel Information: Learn More Current Travel Advisories Level 1: Exercise Normal Precautions Learn More U.S. Relationship These are excerpts from the U.S. Relations With Mongolia U.S.-Mongolia Relations U.S. Assistance to Mongolia Bilateral Economic Relations U.S.-Mongolia Relations The United States established diplomatic relations with Mongolia in 1987. Bordered by Russia and China, Mongolia describes the United States as its most important “third neighbor.” In 2019, the United States and Mongolia upgraded their bilateral relationship to a Strategic Partnership. After nearly seven decades of socialist one-party rule and close alignment with the Soviet Union, the Mongolian people supported The United States established diplomatic relations with Mongolia in 1987. Bordered by Russia and China, Mongolia describes the United States as its most important “third neighbor.” In 2019, the United States and Mongolia upgraded their bilateral relationship to a Strategic Partnership. After nearly seven decades of socialist one-party rule and close alignment with the Soviet Union, the Mongolian people supported a peaceful democratic revolution in 1990. Since adopting democracy, Mongolia has, as of June 2021, conducted eight presidential and eight legislative elections. The United States has sought to assist Mongolia’s market-oriented reforms and to expand political, cultural, educational, and defense cooperation. Collapse U.S.-Mongolia Relations Read more about U.S.-Mongolia Relations U.S. Assistance to Mongolia Global commodity prices and the Chinese economy affect Mongolia’s economic growth rates, which have fluctuated widely in recent years. A balance of payments crisis prompted the International Monetary Fund (IMF) to implement a $425 million Extended Fund Facility from 2017 to 2020. In June 2020, the IMF approved an additional $99 million Rapid Financing Instrument disbursement to help Mongolia cope Global commodity prices and the Chinese economy affect Mongolia’s economic growth rates, which have fluctuated widely in recent years. A balance of payments crisis prompted the International Monetary Fund (IMF) to implement a $425 million Extended Fund Facility from 2017 to 2020. In June 2020, the IMF approved an additional $99 million Rapid Financing Instrument disbursement to help Mongolia cope with the economic fallout of the COVID-19 pandemic. The Mongolian economy contracted just more than five percent in 2020 due to the pandemic, but by 2021 was set for a recovery helped by higher prices for copper and coal, two of Mongolia’s major exports. Mongolia’s rank in the World Bank’s Ease of Doing Business index fell from 56 (of 189 economies) in 2014 to 81 (of 190 economies) in 2019. Collapse U.S. Assistance to Mongolia Read more about U.S. Assistance to Mongolia Bilateral Economic Relations With 90 percent of Mongolia’s exports – primarily minerals – going to its southern neighbor, China remains Mongolia’s most significant economic partner. China also supplies a third of Mongolia’s imports, mostly in consumer and capital goods. About 60 percent of the government’s bilateral debts and 82 percent of central bank debt are held by China. China is also Mongolia’s second-largest With 90 percent of Mongolia’s exports – primarily minerals – going to its southern neighbor, China remains Mongolia’s most significant economic partner. China also supplies a third of Mongolia’s imports, mostly in consumer and capital goods. About 60 percent of the government’s bilateral debts and 82 percent of central bank debt are held by China. China is also Mongolia’s second-largest source of foreign direct investment. (Canada is the largest source of FDI, primarily in the mining sector. The United States ranks seventh.) Collapse Bilateral Economic Relations Read more about Bilateral Economic Relations Integrated Country Strategies The Integrated Country Strategy is the four-year strategy articulating U.S. priorities in a given country. The Chief of Mission leads the strategy. View Integrated Country Strategies Investment Climate Statements The Investment Climate Statements analyze a variety of economies that are or could be markets for U.S. businesses and provide information on the business climates. View Investment Climate Statements Fiscal Transparency Report The Fiscal Transparency Report analyzes government transparency and identifies needed changes to improve public spending accountability. View Fiscal Transparency Report Discover More 2022 Country Reports on Human Rights Practices 2022 Report on International Religious Freedom 2023 Trafficking in Persons Report View all Department Reports and Publications COVID-19 Vaccine Deliveries Since September, 2021 the United States has donated 1,390,500 safe and effective COVID-19 vaccine doses with the people of Mongolia. This includes 1,390,500 Pfizer doses. Of the 1,390,500 vaccine doses, 100% were donated in partnership with COVAX. The United States is committed to leading an international and coordinated effort to accelerate access to safe and effective COVID-19 vaccines to meet global needs. The United States is working with other governments and partners including COVAX, Caricom, and the African Vaccine Acquisition Trust (AVAT) to protect communities from COVID-19 and apply lessons from this pandemic to enhance health security now and in the future. Learn more about our work Delivering Vaccines and on COVID-19 Recovery. More Vaccine Deliveries Highlights February 9, 2024 On Mongolian Tsagaan Sar February 9, 2024 Ulaanbaatar, Mongolia: International School of Ulaanbaatar: 2024 Special Needs Profile December 20, 2023 Joint Statement on The United States-Mongolia Annual Bilateral Consultations December 2, 2023 The United States Joins Multinational Declaration to Triple Nuclear Energy Capacity by 2050 to Support Global Climate and Energy Security Goals November 2, 2023 Ulaanbaatar, Mongolia: International School of Ulaanbaatar: 2023-2024 Fact Sheet VIEW ALL NEWS Tags Bureau of East Asian and Pacific Affairs Mongolia