At 1,564,116 km2 (603,909 sq mi), Mongolia is the world's 19th-largest country (after Iran). It is significantly larger than the next-largest country, Peru. It mostly lies between latitudes 41° and 52°N (a small area is north of 52°), and longitudes 87° and 120°E. Mongolia is the most sparsely populated independent country in the world, with a population of around 2.75 million people. It is also the world's second-largest landlocked country after Kazakhstan. 

    The country contains very little arable land, as much of its area is covered by steppes, with mountains to the north and west and the Gobi Desert to the south. Approximately 30% of the population are nomadic or semi-nomadic. The predominant religion in Mongolia is Tibetan Buddhism, and the majority of the state's citizens are of Mongol ethnicity, though Kazakhs, Tuvans, and other minorities also live in the country, especially in the west. About 20% of the population live on less than US$1.25 per day. Mongolia joined the World Trade Organization in 1997 and seeks to expand its participation in regional economic and trade regimes.