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Bhutan Economy 2019

SOURCE: 2019 CIA WORLD FACTBOOK AND OTHER SOURCES











Bhutan Economy 2019
SOURCE: 2019 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on February 08, 2019

Economy - overview:
Bhutan's small economy is based largely on hydropower, agriculture, and forestry, which provide the main livelihood for more than half the population. Because rugged mountains dominate the terrain and make the building of roads and other infrastructure difficult and expensive, industrial production is primarily of the cottage industry type. The economy is closely aligned with India's through strong trade and monetary links and is dependent on India for financial assistance and migrant laborers for development projects, especially for road construction. Bhutan signed a pact in December 2014 to expand duty-free trade with Bangladesh.

Multilateral development organizations administer most educational, social, and environment programs, and take into account the government's desire to protect the country's environment and cultural traditions. For example, the government is cautious in its expansion of the tourist sector, restricing visits to environmentally conscientious tourists. Complicated controls and uncertain policies in areas such as industrial licensing, trade, labor, and finance continue to hamper foreign investment.

Bhutan’s largest export - hydropower to India - could spur sustainable growth in the coming years if Bhutan resolves chronic delays in construction. Bhutan’s hydropower exports comprise 40% of total exports and 25% of the government’s total revenue. Bhutan currently taps only 6.5% of its 24,000-megawatt hydropower potential and is behind schedule in building 12 new hydropower dams with a combined capacity of 10,000 megawatts by 2020 in accordance with a deal signed in 2008 with India. The high volume of imported materials to build hydropower plants has expanded Bhutan's trade and current account deficits. Bhutan also signed a memorandum of understanding with Bangladesh and India in July 2017 to jointly construct a new hydropower plant for exporting electricity to Bangladesh.

GDP (purchasing power parity):
$7.205 billion (2017 est.)
$6.71 billion (2016 est.)
$6.252 billion (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 167
[see also: GDP country ranks ]

GDP (official exchange rate):
$2.405 billion (2017 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
7.4% (2017 est.)
7.3% (2016 est.)
6.2% (2015 est.)
country comparison to the world: 14
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$9,000 (2017 est.)
$8,500 (2016 est.)
$8,000 (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 145
[see also: GDP - per capita country ranks ]

Gross national saving:
40.4% of GDP (2017 est.)
33.3% of GDP (2016 est.)
32% of GDP (2015 est.)
country comparison to the world: 8
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 58% (2017 est.)
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 16.8% (2017 est.)
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 47.2% (2017 est.)
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 0% (2017 est.)
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 26% (2017 est.)
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -48% (2017 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 16.2% (2017 est.)
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 41.8% (2017 est.)
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 42% (2017 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

Agriculture - products:
rice, corn, root crops, citrus; dairy products, eggs

Industries:
cement, wood products, processed fruits, alcoholic beverages, calcium carbide, tourism

Industrial production growth rate:
6.3% (2017 est.)
country comparison to the world: 36
[see also: Industrial production growth rate country ranks ]

Labor force:
397,900 (2017 est.)
note: major shortage of skilled labor
country comparison to the world: 160
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 58%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 20%
[see also: Labor force - by occupation - industry country ranks ]
services: 22% (2015 est.)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
3.2% (2017 est.)
3.2% (2016 est.)
country comparison to the world: 39
[see also: Unemployment rate country ranks ]

Population below poverty line:
12% (2012 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 2.8%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 30.6% (2012)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
38.8 (2012)
38.1 (2007)
country comparison to the world: 75
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: 655.3 million (2017 est.)
[see also: Budget - revenues country ranks ]
expenditures: 737.4 million (2017 est.)
note: the Government of India finances nearly one-quarter of Bhutan's budget expenditures

Taxes and other revenues:
27.2% (of GDP) (2017 est.)
country comparison to the world: 101
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-3.4% (of GDP) (2017 est.)
country comparison to the world: 142
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
106.3% of GDP (2017 est.)
114.2% of GDP (2016 est.)
country comparison to the world: 12
[see also: Public debt country ranks ]

Fiscal year:
1 July - 30 June

Inflation rate (consumer prices):
5.8% (2017 est.)
7.6% (2016 est.)
country comparison to the world: 183
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
6% (2017 est.)
note: this is the policy rate of Bhutan's central bank
country comparison to the world: 68
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
15% (31 December 2017 est.)
14.15% (31 December 2016 est.)
country comparison to the world: 38
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$993.5 million (31 December 2017 est.)
$769 million (31 December 2016 est.)
country comparison to the world: 158
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$993.5 million (31 December 2017 est.)
$769 million (31 December 2016 est.)
country comparison to the world: 163
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$1.535 billion (31 December 2017 est.)
$1.17 billion (31 December 2016 est.)
country comparison to the world: 161
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$401.4 million (31 December 2017 est.)
$340.5 million (31 December 2016 est.)
$359.3 million (31 December 2015 est.)
country comparison to the world: 114
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$547 million (2017 est.)
-$621 million (2016 est.)
country comparison to the world: 120
[see also: Current account balance country ranks ]

Exports:
$554.6 million (2017 est.)
$495.3 million (2016 est.)
country comparison to the world: 174
[see also: Exports country ranks ]

Exports - partners:
India 95.3% (2017)

Exports - commodities:
electricity (to India), ferrosilicon, cement, cardamom, calcium carbide, steel rods/bars, dolomite, gypsum

Imports:
$1.025 billion (2017 est.)
$1.03 billion (2016 est.)
country comparison to the world: 184
[see also: Imports country ranks ]

Imports - commodities:
fuel and lubricants, airplanes, machinery and parts, rice, motor vehicles

Imports - partners:
India 89.5% (2017)

Reserves of foreign exchange and gold:
$1.206 billion (31 December 2017 est.)
$1.127 billion (31 December 2016 est.)
country comparison to the world: 129
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$2.671 billion (31 December 2017 est.)
$2.355 billion (31 December 2016 est.)
country comparison to the world: 147
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$160.4 million (31 December 2017 est.)
$168.4 million (31 December 2016 est.)
country comparison to the world: 135
[see also: Stock of direct foreign investment - at home country ranks ]

Exchange rates:
ngultrum (BTN) per US dollar -
64.97 (2017 est.)
67.2 (2016 est.)
67.2 (2015 est.)
64.15 (2014 est.)
61.03 (2013 est.)


NOTE: 1) The information regarding Bhutan on this page is re-published from the 2019 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Bhutan Economy 2019 information contained here. All suggestions for corrections of any errors about Bhutan Economy 2019 should be addressed to the CIA.
2) The rank that you see is the CIA reported rank, which may habe the following issues:
  a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
  b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order






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