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: milk, rice, root vegetables, potatoes, maize, oranges, areca nuts, chilies/peppers, pumpkins/squash, bison milk (2022).
More about the economy of Bhutan
| Labor force | 430,000 (2023 est.) |
|---|---|
| Industrial production growth rate | 5.6% (2022 est.) |
| Industries | cement, wood products, processed fruits, alcoholic beverages, calcium carbide, tourism |
| Population below poverty line | 12.4% (2022 est.) |
| Taxes and other revenues | 12.28% (of GDP) (2020 est.) |
| Fiscal year | |
| Exchange rates | |
| Currency | ngultrum (BTN) per US dollar - |
| Exchange rates 2023 | 82.601 (2023 est.) |
| Exchange rates 2022 | 78.604 (2022 est.) |
| Exchange rates 2021 | 73.918 (2021 est.) |
| Exchange rates 2020 | 74.1 (2020 est.) |
| Exchange rates 2019 | 70.42 (2019 est.) |
| Debt - external | |
| Debt - external 2022 | $2.514 billion (2022 est.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2021 | $976.26 million (2021 est.) |
| Reserves of foreign exchange and gold 2020 | $1.427 billion (2020 est.) |
| Reserves of foreign exchange and gold 2019 | $1.238 billion (2019 est.) |
| Current account balance | |
| Current account balance 2023 | -$999.999 million (2023 est.) |
| Current account balance 2022 | -$805.723 million (2022 est.) |
| Current account balance 2021 | -$319.279 million (2021 est.) |
| Public debt | |
| Public debt 2020 | 111.01% of GDP (2020 est.) |
| Budget | |
| Revenues | $740.333 million (2020 est.) |
| Expenditures | $591.697 million (2020 est.) |
| Budget surplus (+) or deficit (-) | |
| Remittances | |
| Remittances 2022 | 3.31% of GDP (2022 est.) |
| Remittances 2021 | 2.65% of GDP (2021 est.) |
| Remittances 2020 | 3.39% of GDP (2020 est.) |
| Household income | |
| Lowest 10% | 3.6% (2022 est.) |
| Highest 10% | 22.7% (2022 est.) |
| Imports | |
| Imports 2023 | $1.754 billion (2023 est.) |
| Imports 2022 | $1.581 billion (2022 est.) |
| Imports 2021 | $1.027 billion (2021 est.) |
| Imports (partners) | India 75%, China 12%, Indonesia 5%, Thailand 2%, Singapore 1% (2022) |
| Comodities Imports force | computers, refined petroleum, electrical machinery, coke, wood charcoal (2022) |
| Exports | |
| Imports 2023 | $1.754 billion (2023 est.) |
| Imports 2022 | $1.581 billion (2022 est.) |
| Imports 2021 | $1.027 billion (2021 est.) |
| Exports (partners) | India 88%, Italy 5%, Nepal 2%, Colombia 2%, Singapore 1% (2022) |
| Comodities Exports force | iron alloys, dolomite, gypsum, cement, electricity (2022) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2022 | $10.981 billion (2022 est.) |
| Real GDP (purchasing power parity) 2021 | $10.437 billion (2021 est.) |
| Real GDP (purchasing power parity) 2020 | $9.995 billion (2020 est.) |
| GDP (official exchange rate) | $2.898 billion (2022 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2022 | $14,000 (2022 est.) |
| Real GDP per capita 2021 | $13,400 (2021 est.) |
| Real GDP per capita 2020 | $12,900 (2020 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 14.7% (2022 est.) |
| Industry | 31.8% (2022 est.) |
| Services | 51.2% (2022 est.) |
| GDP - composition, by end use | |
| Household consumption | 57.6% (2022 est.) |
| Government consumption | 21% (2022 est.) |
| Investment in fixed capital | 55.2% (2022 est.) |
| Investment in inventories | 0.1% (2022 est.) |
| Exports of goods and services | 25.8% (2022 est.) |
| Imports of goods and services | -60.1% (2022 est.) |
| Unemployment rate | |
| Unemployment rate 2023 | 5.65% (2023 est.) |
| Unemployment rate 2022 | 5.95% (2022 est.) |
| Unemployment rate 2021 | 4.8% (2021 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 29.2% (2023 est.) |
| Male | 25.1% (2023 est.) |
| Female | 33.1% (2023 est.) |
All Important Facts about Bhutan
Want to know more about Bhutan? Check all different factbooks for Bhutan below.
