Bhutan:
Economy

Pages for other countries and territories

Other pages in this profile of Bhutan:
Geography, People, Government, Communications & Transportation, Military & Transnational Issues.


Economy - overview	Definition The economy, one of the world's smallest and least developed, is based on agriculture and forestry, which provide the main livelihood for more than 60% of the population. Agriculture consists largely of subsistence farming and animal husbandry. Rugged mountains dominate the terrain and make the building of roads and other infrastructure difficult and expensive. The economy is closely aligned with India's through strong trade and monetary links and dependence on India's financial assistance. The industrial sector is technologically backward, with most production of the cottage industry type. Most development projects, such as road construction, rely on Indian migrant labor. Model education, social, and environment programs are underway with support from multilateral development organizations. Each economic program takes into account the government's desire to protect the country's environment and cultural traditions. For example, the government, in its cautious expansion of the tourist sector, encourages visits by upscale, environmentally conscientious tourists. Detailed controls and uncertain policies in areas such as industrial licensing, trade, labor, and finance continue to hamper foreign investment. Hydropower exports to India had a major impact on growth in 2007.
GDP (purchasing power parity)	Definition - World rank and map $3.359 billion (2007 est.)
GDP (official exchange rate)	Definition $1.308 billion (2007 est.)
GDP - real growth rate	Definition - World rank and map 22.4% (2007 est.)
GDP - per capita	Definition - World rank and map $5,200 (2007 est.)
GDP - composition by sector	Definition agriculture: 24.7% industry: 37.2% services: 38.1% (2005)
Labor force	Definition NA note: major shortage of skilled labor
Labor force - by occupation	Definition agriculture: 63% industry: 6% services: 31% (2004 est.)
Unemployment rate	Definition - World rank and map 2.5% (2004)
Population below poverty line	Definition 31.7% (2003)
Household income or consumption by percentage share	Definition lowest 10%: NA% highest 10%: NA%
Inflation rate (consumer prices)	Definition - World rank and map 4.9% (2007 est.)
Budget	Definition revenues: $272 million expenditures: $350 million note: the government of India finances nearly three-fifths of Bhutan's budget expenditures (2005)
Public debt	Definition - World rank and map 81.4% of GDP (2004)
Agriculture - products	Definition rice, corn, root crops, citrus, foodgrains; dairy products, eggs
Industries	Definition cement, wood products, processed fruits, alcoholic beverages, calcium carbide, tourism
Industrial production growth rate	Definition - World rank and map 9.3% (1996 est.)
Electricity - production	Definition - World rank and map 2 billion kWh (2005)
Electricity - consumption	Definition - World rank and map 380 million kWh (2005)
Electricity - consumption per capita	Definition - World rank and map 557 kWh (2005)
Electricity - exports	Definition 1.5 billion kWh (2005)
Electricity - imports	Definition 20 million kWh (2005)
Oil - production	Definition - World rank and map 0 bbl/day (2005)
Oil - consumption	Definition - World rank and map 1,200 bbl/day (2005 est.)
Oil - consumption per 1,000 people	Definition - World rank and map 1.8 bbl/day (2005 est.)
Oil - exports	Definition - World rank and map 0 bbl/day (2004)
Oil - imports	Definition - World rank and map 1,138 bbl/day (2004)
Oil - proved reserves	Definition - World rank and map 0 bbl (1 January 2006 est.)
Natural gas - production	Definition - World rank and map 0 cu m (2005 est.)
Natural gas - consumption	Definition - World rank and map 0 cu m (2005 est.)
Natural gas - consumption per capita	Definition - World rank and map 0 cu m (2005 est.)
Natural gas - exports	Definition - World rank and map 0 cu m (2005 est.)
Natural gas - imports	Definition - World rank and map 0 cu m (2005)
Natural gas - proved reserves	Definition - World rank and map 0 cu m (1 January 2006 est.)
Current account balance	Definition - World rank and map $116 million (2007 est.)
Exports	Definition - World rank and map $350 million f.o.b. (2006)
Exports - commodities	Definition electricity (to India), cardamom, gypsum, timber, handicrafts, cement, fruit, precious stones, spices
Exports - partners	Definition India 67%, Hong Kong 29.8%, Thailand 1% (2006)
Imports	Definition - World rank and map $320 million c.i.f. (2006)
Imports - commodities	Definition fuel and lubricants, grain, aircraft, machinery and parts, vehicles, fabrics, rice
Imports - partners	Definition India 60.7%, Japan 9.5%, Germany 5% (2006)
Debt - external	Definition - World rank and map $593 million (2004)
Market value of publicly traded shares	Definition $NA
Economic aid - recipient	Definition $90.02 million; note - substantial aid from India (2005)
Currency (code)	Definition ngultrum (BTN); Indian rupee (INR)
Exchange rates	Definition ngultrum per US dollar - 41.487 (2007), 45.279 (2006), 44.101 (2005), 45.317 (2004), 46.583 (2003) note: the ngultrum is pegged to the Indian rupee
Fiscal year	Definition 1 July - 30 June

Bhutan: Economy

Bhutan:
Economy