Formal Borrowing Statistics in Mongolia (2026)
In 2024, 40.3% of adults in Mongolia borrowed from a formal financial institution, according to World Bank Global Findex data. Up from 34.4% in 2021 to 40.3% in 2024 (+5.9 percentage points). Mongolia ranks #8 of 16 economies in East Asia & Pacific on this measure, and #29 of 142 globally.
Key Statistics
- Latest value (2024)
- 40.3% (2024)
- Formal Borrowing in Mongolia as of 2024, the most recent observation in World Bank Global Findex data.
- Change since 2021
- +5.9 pp (2024)
- Up from 34.4% in 2021 to 40.3% in 2024 (+5.9 percentage points).
- Earliest value in this dataset (2014)
- 36.2% (2014)
- Earliest observation in this dataset, which covers 1990 onward (the source series may begin earlier). Up from 36.2% in 2014 to 40.3% in 2024.
- Record high (2024)
- 40.3% (2024)
- The 2024 value is the highest in the available World Bank Global Findex series for Mongolia.
- Rank in East Asia & Pacific
- #8 of 16 (2024)
- Mongolia ranks 8 of 16 countries in East Asia & Pacific with data, based on each country's latest value.
- Global rank
- #29 of 142 (2024)
- Mongolia ranks 29 of 142 countries with data globally.
- East Asia & Pacific average
- 33.4% (2024)
- Mongolia (40.3%) is above the average of 33.4% across the 16 countries in East Asia & Pacific with data.
- Among women (2024)
- 41.6% (2024)
- Value for women in Mongolia, same 2024 World Bank Global Findex data.
- Among men (2024)
- 38.9% (2024)
- Value for men in Mongolia, same 2024 World Bank Global Findex data.
- Gender gap (women minus men)
- +2.8 pp (2024)
- In 2024, the figure was 41.6% for women and 38.9% for men — 2.8 percentage points higher among women.
- Among the poorest 40% (2024)
- 35.4% (2024)
- Value for adults in the poorest 40% of households in Mongolia in 2024.
- Poorest-40% gap vs national
- −4.9 pp (2024)
- The poorest 40% (35.4%) are 4.9 percentage points below the national figure (40.3%).
- Internet use in Mongolia (2024)
- 85.1% (2024)
- 85.1% of the population in Mongolia used the internet in 2024 (World Bank); shown for context only.
- Population (2024)
- 3.5 million (2024)
- Mongolia had a population of 3.5 million in 2024 (World Bank); shown for scale only.
Trend, 2014–2024
| Year | % of adults (age 15+) | Change |
|---|---|---|
| 2024 | 40.3% | +5.9 pp |
| 2021 | 34.4% | +4.0 pp |
| 2017 | 30.4% | −5.8 pp |
| 2014 | 36.2% | — |
Frequently asked questions
What share of adults in Mongolia borrowed from a formal financial institution?
40.3% of adults in Mongolia borrowed from a formal financial institution in 2024, according to World Bank Global Findex data.
Is there a gender gap in formal borrowing in Mongolia?
Yes — in 2024 the figure was 41.6% for women and 38.9% for men, a gap of 2.8 percentage points in favor of women.
How recent is the formal borrowing data for Mongolia?
The most recent observation is from 2024. World Bank Global Findex data is reported with a lag, so 2024 is the latest available year for Mongolia.
Where does the formal borrowing data for Mongolia come from?
The data comes from the World Bank Global Findex (indicator fin22a). The latest observation for Mongolia is from 2024; the snapshot was retrieved on 2026-06-10.
Source & methodology
Source: World Bank Global Findex, indicator
fin22a, retrieved .
Figures are shown exactly as published in the source dataset; only the change column of the trend table is computed from adjacent published values.Read more on the methodology page. All figures are estimates and projections; this is not financial advice.
Last updated .