"This note, prepared at the request of the Ministry of Economy and Development, aims to analyze selected opportunities for Mongolia to diversify its economy and identifies specific policy options to realize them. Mongolia’s growing dependence on mining exports, primarily to China creates vulnerabilities and reduces resilience, as exposed during recent external shocks. Policy makers therefore continue to emphasize the importance of diversifying the economy. Against this backdrop, this note identifies opportunities and offers recommendations to achieve this goal."

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Source: Batmunkh,Undral; Diaz Sanchez,Jose Luis; Vnukova,Yulia; Sudan,Randeep. Washington, D.C. : World Bank Group.

Illustration: World Bank