Bhutan - Economy
How is the economy of Bhutan? Based on the information we have, Bhutan has a hydropower investments spurring economic development; Gross National Happiness economy; sharp poverty declines; low inflation; strong monetary and fiscal policies; stable currency; fairly resilient response to COVID-19; key economic and strategic relations with India; climate vulnerabilities. Key agricultural products in this country include: rice, milk, potatoes, root vegetables, maize, oranges, areca nuts, chillies/peppers, pumpkins/squash, carrots/turnips (2023).
More about the economy of Bhutan
| Labor force | 406,500 (2024 est.) |
|---|---|
| Industrial production growth rate | 0% (2023 est.) |
| Industries | cement, wood products, processed fruits, alcoholic beverages, calcium carbide, tourism |
| Population below poverty line | 12.4% (2022 est.) |
| Taxes and other revenues | 12.3% (of GDP) (2020 est.) |
| Fiscal year | |
| Exchange rates | |
| Currency | ngultrum (BTN) per US dollar - |
| Exchange rates 2024 | 83.669 (2024 est.) |
| Exchange rates 2023 | 82.599 (2023 est.) |
| Exchange rates 2022 | 78.604 (2022 est.) |
| Exchange rates 2021 | 73.918 (2021 est.) |
| Exchange rates 2020 | 74.1 (2020 est.) |
| Debt - external | |
| Debt - external 2023 | $2.827 billion (2023 est.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2024 | $941.018 million (2024 est.) |
| Reserves of foreign exchange and gold 2023 | $654.481 million (2023 est.) |
| Reserves of foreign exchange and gold 2022 | $825.755 million (2022 est.) |
| Current account balance | |
| Current account balance 2024 | -$669.766 million (2024 est.) |
| Current account balance 2023 | -$963.122 million (2023 est.) |
| Current account balance 2022 | -$805.723 million (2022 est.) |
| Public debt | |
| Public debt 2020 | 111% of GDP (2020 est.) |
| Budget | |
| Revenues | $740.328 million (2020 est.) |
| Expenditures | $802.177 million (2020 est.) |
| Budget surplus (+) or deficit (-) | |
| Remittances | |
| Remittances 2023 | 3.6% of GDP (2023 est.) |
| Remittances 2022 | 3.3% of GDP (2022 est.) |
| Remittances 2021 | 2.6% of GDP (2021 est.) |
| Household income | |
| Lowest 10% | 3.6% (2022 est.) |
| Highest 10% | 22.7% (2022 est.) |
| Imports | |
| Imports 2024 | $1.513 billion (2024 est.) |
| Imports 2023 | $1.77 billion (2023 est.) |
| Imports 2022 | $1.581 billion (2022 est.) |
| Imports (partners) | India 82%, Singapore 8%, China 5%, Thailand 2%, Indonesia 1% (2023) |
| Comodities Imports force | refined petroleum, gold, plastics, broadcasting equipment, iron reductions (2023) |
| Exports | |
| Imports 2024 | $1.513 billion (2024 est.) |
| Imports 2023 | $1.77 billion (2023 est.) |
| Imports 2022 | $1.581 billion (2022 est.) |
| Exports (partners) | India 92%, Italy 4%, Indonesia 1%, China 1%, Singapore 0% (2023) |
| Comodities Exports force | iron alloys, aircraft, dolomite, semi-finished iron, cement (2023) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2023 | $11.517 billion (2023 est.) |
| Real GDP (purchasing power parity) 2022 | $10.981 billion (2022 est.) |
| Real GDP (purchasing power parity) 2021 | $10.437 billion (2021 est.) |
| GDP (official exchange rate) | $3.019 billion (2023 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2023 | $14,600 (2023 est.) |
| Real GDP per capita 2022 | $14,100 (2022 est.) |
| Real GDP per capita 2021 | $13,500 (2021 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 15% (2023 est.) |
| Industry | 29.6% (2023 est.) |
| Services | 52.7% (2023 est.) |
| GDP - composition, by end use | |
| Household consumption | 59.4% (2023 est.) |
| Government consumption | 20.3% (2023 est.) |
| Investment in fixed capital | 44.5% (2023 est.) |
| Investment in inventories | 0.7% (2023 est.) |
| Exports of goods and services | 28.3% (2023 est.) |
| Imports of goods and services | -53.2% (2023 est.) |
| Unemployment rate | |
| Unemployment rate 2024 | 2.9% (2024 est.) |
| Unemployment rate 2023 | 3.2% (2023 est.) |
| Unemployment rate 2022 | 6% (2022 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 13.8% (2024 est.) |
| Male | 11.2% (2024 est.) |
| Female | 16.5% (2024 est.) |
All Important Facts about Bhutan
Want to know more about Bhutan? Check all different factbooks for Bhutan below.
