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Bhutan Economy 2010
https://workmall.com/wfb2010/bhutan/bhutan_economy.html
SOURCE: 2010 CIA WORLD FACTBOOK AND OTHER SOURCES

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Bhutan Economy 2010
SOURCE: 2010 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on January 19, 2010

Economy - overview:
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 have boosted Bhutan's overall growth, even though GDP fell in 2008 as a result of a slowdown in India, its predominant export market. New hydropower projects will be the driving force behind Bhutan's ability to create employment and sustain growth in the coming years.

GDP (purchasing power parity):
$4.34 billion (2009 est.)

$3.575 billion (2008 est.)
$2.945 billion (2007 est.)
note: data are in 2009 US dollars

GDP (official exchange rate):
$1.493 billion (2009 est.)

GDP - real growth rate:
5% (2009 est.)

21.4% (2008 est.)
6.3% (2007 est.)

GDP - per capita (PPP):
$6,200 (2009 est.)

$5,200 (2008 est.)
$4,300 (2007 est.)
note: data are in 2009 US dollars

GDP - composition by sector:
agriculture: 22.3%
industry: 37.9%
services: 39.8% (2006)

Labor force:
299,900 NA
note: major shortage of skilled labor

Labor force - by occupation:
agriculture: 63%
industry: 6%
services: 31% (2004 est.)

Unemployment rate:
4% (2009 est.); 2.5% (2004)

Population below poverty line:
23.2% (2003)

Household income or consumption by percentage share:
lowest 10%: 2.3%
highest 10%: 37.6%

Budget:
revenues: $302 million
expenditures: $588 million
note: the government of India finances nearly three-fifths of Bhutan's budget expenditures (2005)

Public debt:
57.8% of GDP (2004)

81.4% of GDP (2004)

Inflation rate (consumer prices):
8% (2008 est.) 4.9% (2007 est.)

Central bank discount rate:
NA%

Commercial bank prime lending rate:
NA% (31 December 2008)

14% (31 December 2007)

Stock of money:
$NA (31 December 2008)

$381.1 million (31 December 2007)

Stock of quasi money:
$NA (31 December 2008)

$220.3 million (31 December 2007)

Stock of domestic credit:
$NA (31 December 2008)

$169.9 million (31 December 2007)

Market value of publicly traded shares:
$NA

Agriculture - products:
rice, corn, root crops, citrus, foodgrains; dairy products, eggs

Industries:
cement, wood products, processed fruits, alcoholic beverages, calcium carbide, tourism

Industrial production growth rate:
NA

Electricity - production:
1.48 billion kWh (2007 est.)

Electricity - consumption:
184 million kWh (2007 est.)

Electricity - exports:
1.296 billion kWh (2007 est.)

Electricity - imports:
0 kWh (2007 est.)

Oil - production:
0 bbl/day (2008 est.)

Oil - consumption:
1,250 bbl/day (2008 est.)

Oil - exports:
0 bbl/day (2007 est.)

Oil - imports:
1,250 bbl/day (2007 est.)

Oil - proved reserves:
0 bbl (1 January 2009 est.)

Natural gas - production:
0 cu m (2008 est.)

Natural gas - consumption:
0 cu m (2008 est.)

Natural gas - exports:
0 cu m (2008 est.)

Natural gas - imports:
0 cu m (2008 est.)

Natural gas - proved reserves:
0 cu m (1 January 2009 est.)

Current account balance:
$164 million (2008 est.) $116 million (2007 est.)

Exports:
$513 million (2008 est.); $350 million (2006)

Exports - commodities:
electricity (to India), ferrosilicon, cement, calcium carbide, copper wire, manganese, vegetable oil (2008)

Exports - partners:
India 89%, Bangladesh 6.5%, Singapore 4.4% (2008)

Imports:
$533 million (2008 est.); $320 million (2006)

Imports - commodities:
fuel and lubricants, passenger cars, machinery and parts, fabrics, rice (2008)

Imports - partners:
India 59.5%, Japan 13.4%, China 5.6% (2008)

Debt - external:
$836 million (2009 est.); $713.3 million (2006 est.)

Exchange rates:
ngultrum (BTN) per US dollar - 46.6 (2009), 41.487 (2007), 45.279 (2006), 44.101 (2005), 45.317 (2004)
note: the ngultrum is pegged to the Indian rupee


NOTE: The information regarding Bhutan on this page is re-published from the 2010 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Bhutan Economy 2010 information contained here. All suggestions for corrections of any errors about Bhutan Economy 2010 should be addressed to the CIA.






This page was last modified 09-Feb-10
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