Mongolia
Personal remittance receipts of $527.7M in 2024, 2.22% of GDP, from 27 annual observations starting in 1998.
- Received, 2024
- $527.7M
- Share of GDP, 2024
- 2.22%
- Rank in 2024
- 105th of 160
- Net, 2024
- $340.2M
- Years of receipts
- 27
Received and paid, US$ billion
Source: World Bank WDI: personal remittances received (BX.TRF.PWKR.CD.DT), paid (BM.TRF.PWKR.CD.DT), current US$ Gross flows in current US dollars. A gap in a line is a year with no observation, not a zero. Methodology
Receipts as a share of GDP
The highest reading in the series is 10.17% in 2004.
Source: World Bank WDI: personal remittances received (BX.TRF.PWKR.CD.DT), paid (BM.TRF.PWKR.CD.DT), current US$ | World Bank WDI: GDP, current US$ (NY.GDP.MKTP.CD) Both series are current US dollars from the same WDI vintage; the share moves with the dollar GDP denominator as well as with the inflow. Methodology
Where the money is modelled to come from, 2021
The corridor matrix is a model, not a measurement
The 10,229 corridors in this matrix (212 sending economies, 175 receiving) are not observed payments. The World Bank builds it by allocating each country’s total recorded receipts across origins using bilateral migrant stocks and origin-destination incomes. A corridor value is therefore an estimate produced by that allocation rule. The matrix exists for one year, 2021, and no other.
The matrix routes $535.0M into Mongolia for 2021, from 38 origin countries. The five largest account for 77.7% of that total. The balance-of-payments series reports $471.2M of receipts for 2021, so the modelled total is 13.5% above it.
| Origin | Modelled value | Share of modelled total |
|---|---|---|
| South Korea | $171.1M | 32.0% |
| Russian Federation | $108.6M | 20.3% |
| Czech Republic | $59.4M | 11.1% |
| Australia | $38.4M | 7.2% |
| Germany | $38.2M | 7.1% |
| Sweden | $30.7M | 5.7% |
| Austria | $12.4M | 2.3% |
| Hungary | $11.0M | 2.1% |
| France | $9.1M | 1.7% |
| Turkey | $9.0M | 1.7% |
Source: World Bank / KNOMAD Bilateral Remittance Matrix | World Bank WDI: personal remittances received (BX.TRF.PWKR.CD.DT), paid (BM.TRF.PWKR.CD.DT), current US$ Every row is an allocation from migrant-stock and income data, not an observed payment. Methodology
Modelled outward corridors, 2021
The same matrix sends $68.4M out of Mongolia across 27 corridors. These are modelled allocations too.
| Destination | Modelled value |
|---|---|
| China | $48.0M |
| South Korea | $6.8M |
| Japan | $2.9M |
| Russian Federation | $2.9M |
| United States | $2.0M |
Source: World Bank / KNOMAD Bilateral Remittance Matrix Methodology
This page exists because Mongolia has 27 annual receipt observations, at or above the 10-year minimum. Methodology | All receivers