Browse a full set of economic indicators

Bhutan

Includes Bhutan real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector.

Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Bhutan economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of Bhutan best banks and safest banks are also available.

Basic Information

Government Type: Constitutional monarchy

Capital City: Thimphu

GDP & Economic Information

Macroeconomy & Sovereign Data

Central Bank Royal Monetary Authority of Bhutan
Currency Ngultrum (BTN)
International Reserves USD 1 billion (2018)
Gross Domestic Product – GDP USD 2.6 billion (2018, estimate)
GDP (Purchasing Power Parity) Intl$ 7.8 billion (2018, estimate)

GDP Data

Real GDP growth 2007: 12.6%
2008: 10.8%
2009: 5.7%
2010: 9.3%
2011: 9.7%
2012: 6.4%
2013: 3.6%
2014: 4%
2015: 6.2%
2016*: 7.3%
2017*: 7.4%
2018*: 5.8%

*Estimate
GDP per capita – current prices USD 3,215.5 (2018, estimate)
GDP per capita – PPP Intl$ 9,539.6 (2018, estimate)
GDP (PPP) – share of world total 0.006% (2019, estimate)
GDP – composition by sector agriculture: 17.4 %%
industry: 40.6%
services: 37.2%
(2017 estimate)
Gross domestic expenditure on R&D; (% of GDP) N/A
Inflation 2015: 7.6%
2016: 7.6%
2017: 5.5%
2018*: 3.5%
2019*: 3.6%

*Estimate

Inflation & Debt

Inflation 2015: 7.6%
2016: 7.6%
2017: 5.5%
2018*: 3.5%
2019*: 3.6%

*Estimate
Government Bond Ratings Standard & Poor’s: N/A

Moody’s: N/A

Standard & Poor’s / Moody’s (Updated October 2019)
Unemployment rate 2015: 3.2%
2016: 3.2%
2017*: 3.2%
2018*: 3.2%
2019*: 3.2%

*Estimate
Household saving rates N/A
Public debt (General government gross debt as a % of GDP) 2015: 95.7%
2016: 109.7%
2017: 108%
2018*: 102.4%
2019*: 108.6%

*Estimate
Public deficit (General government net lending/borrowing as a % of GDP) 2015: 1.5%
2016: -1.1%
2017: -3.4%
2018*: -2%
2019*: -1.3%

*Estimate
Market value of publicly traded shares N/A
Largest Companies N/A

Import/Export

Exports as percent of GDP (Exports of goods and services) 29.1% (2017)
Shares in world total merchandising export 0.003% (2018)
Shares in world total commercial services export 0.003% (2018)
Total exports USD 781.8 million (2018)


Export commodities Electricity (to india), ferrosilicon, cement, cardamom, calcium carbide, steel rods/bars, dolomite, gypsum
Total imports USD 1.3 billion (2018 estimate)
Import commodities Fuel and lubricants, airplanes, machinery and parts, rice, motor vehicles
Exports – major partners India 95.3% (2017)
Imports – major partners India 89.5% (2017)

Competitiveness & Trade

Current account balance USD -0.5 billion (2018 estimate)
Current account balance by percentage of GDP
-18.4 % (2018 estimate)
FDI inflows 2016: USD -6.7 million
2017: USD -9.9 million
2018: USD 5.9 million
FDI Outflows N/A
Value of cross-border M&A, by country of purchaser N/A


United Nations Conference on Trade and Development (UNCTAD) – World Investment Report
Cross-border M&A deals worth over $3 billion completed in 2014 N/A
Cross-border M&A deals worth over $3 billion completed in 2015 N/A
Best countries for doing business Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm.

Overall ranking:

89 out of 190 countries

Subcategories:
Starting a Business: 103 out of 190 countries
Dealing with Construction Permits: 91 out of 190 countries
Getting Electricity: 78 out of 190 countries
Registering Property: 53 out of 190 countries
Getting Credit: 94 out of 190 countries
Protecting Minority Investors: 111 out of 190 countries
Paying Taxes: 15 out of 190 countries
Trading across Borders: 30 out of 190 countries
Enforcing Contracts: 29 out of 190 countries
Resolving Insolvency: 168 out of 190 countries
World Bank – Doing Business 2019
Global competitiveness ranking N/A

(2019)
Index of Economic Freedom Ranking: 74 / Score: 62.9 (Moderately free)

(100=totally free 0=totally repressed)

Population & Geographic Data

Time Zone UTC+6

Total Area 38,394 sq km
Total Population 1990: 0.54 million
2000: 0.56 million
2010: 0.72 million
2015*: 0.78 million
2020*: 0.84 million

*Estimate
Urban population as % of total population 1960: 3.6%
1980: 10.1%
2000: 25.4%
2015: 40.9%
Population median age 28.1 years
Population growth rate 1.05% (2018 estimate)
Life expectancy 71.1 years (2018 estimate)
% of population living on less than $3.10 a day
12% (last available estimate, 2017)
Inequality of wealth distribution (Gini index)
37.4 (last available estimate, 2017)

(0=perfect equality, 100=absolute inequality)
Freedom House rating Partly Free
Political Rights: 3
Civil Liberties: 4 (2019)
(1 represents the most free, 7 the least free rating)
Total telephone subscribers as % of population
Fixed: 2.9% Mobile: 93.3% (2018)
(fixed-telephone subscribers and mobile-cellular subscribers)
Internet users as % of total population 48.11 % (2017)

Language & Religon

Languages Sharchhopka 28%, Dzongkha (official) 24%, Lhotshamkha 22%, other 26% (includes foreign languages) (2005 est.)
Literacy Total population: 64.9%
Male: 73.1%
Female: 55%
Definition: age 15 and over can read and write (2015 est.)
Religions Lamaistic Buddhist 75.3%, Indian- and Nepalese-influenced Hinduism 22.1%, other 2.6%(2005 est.)

World Rankings

Population 0.84 M
Mercer Cost of living index N/A
C02 Emissions per capita 1.39 metric tons per capita (2014)

Global Finance Rankings & Awards: Bhutan

Global Finance Magazine holds several conferences and awards ceremonies throughout the year to recognize the winning financial institutions and companies in a host of categories including World’s Best Trade Finance Banks, World's Biggest Banks, World's Safest Banks, World's Best Developed & Emerging Markets Banks, World's Best Internet Banks, and World’s Best Investment Banks.


Data Sources:

IMF World Economic Outlook

UN World Population Prospects

World Inequality Report

S&P Global Ratings

Moody’s

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

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