The Mongolian economy depends a lot on the international markets. Its main resources are its goats’ wool for cashmere production and mineral wealth of its subsoil (various metals including gold, coal, etc). The natural resources of Mongolia are formed by minerals (copper, molybdenum, fluorine, tungsten) and precious and semi-precious stones including gold. There are also coal and oil to a lesser extent, but that is not exploited by lack of infrastructure. All these products represent, in value, two-thirds of Mongolian exports.
About half of the population lives in yurts. One third of Mongolians are pure nomads, they live on rearing of horse, sheep, goats and yaks. Mongolia is an exporter of animal products: meat, wool and animal hair, including cashmere (1st world producer; 2nd national resource after copper). Until the 1970s, before the commissioning of mines such as the one of Erdenet, animal husbandry and industries related to them were by far the first resource of the country. Mongolian currency is Tugrug