The first capital of the recent Mongolian Empire was called Urguu and was located some 420km from Ulan Bator. Situated in Arkhangai Aimag at the Da Khuree Monastery, it was the home to Zanabazar who had been proclaimed the spiritual leader of the Buddhists in Mongolia. The city moved several times along the Tuul, Orkhon [...]

{mosimage}Area: 76.100km2 Population: 87900 Density: 1.16 Province center: Hovd town (1487km from Ulaanbaatar city)

Area:            69600km2 Population:        80600 (as of 2005)    Density:        1.16 Province center:    Ulaangom town (1417km from Ulaanbaatar city)

Area:            123600km2 Population:        73400    Density:        0.59 Province center:    Choibalsan town (661km from Ulaanbaatar city)

Area:            116.000km2 Population:        83600 Density:        0.72 Province center:    Byanhongor town (639km from Ulaanbaatar city)

Area:            165.400km2 Population:        46100 Density:        0.28 Province center:    Dalanzadgad town (575km from Ulaanbaatar city)

{mosimage} As a result of successive and decisive policies of the Government, the private sector has become a prevailing sector in the economy since 1995. Due to restructuring and privatization programs the private sector expanded.

Foreign trade is an important sector of the country's economy . The main partners for export and import are the USA, Germany, Italy, Great Britain, Canada, Japan, Russia, China, Republic of Korea, Switzerland, Singapore and others.

The fiscal federalism of Mongolia composes a two tier system as its banking sector, namely, central and local government levels.The intergovernmental transfer system, from the central to the local governments.

Sixteen commercial banks, more than eighty non-banking financial in­stitutions, around 200 savings and credit cooperatives, 34 broker and security firms, four leasing compa­nies, and sixteen insurance compa­nies are active in the financial sector.