Browse a full set of economic indicators


Includes historical data for Bhutan’s Gross Domestic Product growth, debt-to-GDP ratio and more, as well as information on trade, banking and financial sector leadership.

Rising Prosperity But Challenges Remain

Since transitioning from an absolute monarchy to a democratic constitutional monarchy in 2008, Bhutan has embraced a development trajectory anchored in the principle of Gross National Happiness. This approach prioritizes cultural preservation and environmental sustainability, effective governance and inclusive socio-economic advancement.

As a lower-middle-income country, the landlocked Bhutan has witnessed on average an annual real GDP growth of 7.5% since the 1980s, leading to significant poverty reduction. Such growth has been principally driven by Bhutan’s abundant water resources, which have provided nearly universal access to low-cost electricity and revenue from surplus hydropower exports. Bhutan is now prioritizing private-sector development and economic diversification. The investment climate, however, remains challenging due to hurdles including a lack of a fully developed modern regulatory framework, high trade costs and a small domestic market.

Macroeconomy & Sovereign Data

Type of Government Democratic constitutional monarchy
Capital Thimphu
Sovereign Ratings S&P: Not rated
Moody’s: Not rated
Fitch: Not rated
Total Population 775,000
Median Age 29.4
Adult Per Capita Income (PPP) USD 16,028
Total GDP (2023) USD 2.86 billion

Bhutan GDP & Economic Overview

Most Recent Content

Banking & Finance

Trade & Investment

Total Exports USD 1.3 billion (2022)
Leading Exports Refined Petroleum
Iron Products
Delivery Trucks
Wood Charcoal                                                                      
Total Imports USD 450 million (2022)
Leading Imports Iron Alloys
Source: World Integrated Trade Solution

Bhutan Leading Companies

Druk Air Transportation, Airlines
Bhutan National Bank Financials
Bhutan Power Corporation Utilities
Kuensel Corporation Media, Publishing
Druk Holding and Investments Conglomerates, Financials, Energy, Consumer Services
Tashi Commercial Corporation Conglomerates, Financials, Communication Services, Materials
Menjong Beer Brewery Consumer Discretionary

Major Trade Partners — Import

India 78.8%
South Korea 3.1%
China 2.5%
Japan 2.4%
Austria 1.8%

Major Trade Partners — Export

India 94.0%
Bangladesh 4.1%
Italy 0.4%
Japan 0.4%
Nepal 0.4%

Data Sources:

IMF World Economic Outlook

UN World Population Prospects

World Inequality Report

S&P Global Ratings


Fitch Ratings

IMF Direction of Trade Statistics (DOTS)

UN Conference on Trade and Development (UNCTAD)

CIA The World Factbook

World Bank’s World Integrated Trade Solution

Forbes Global 2000