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 |
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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 |
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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 |
Bhutan
Inflation & Debt
Inflation |
2015: 7.6% 2016: 7.6% 2017: 5.5% 2018*: 3.5% 2019*: 3.6% *Estimate |
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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) |
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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) |
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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 |
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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.) |
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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 |
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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