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Bhutan Economy 2014

SOURCE: 2014 CIA WORLD FACTBOOK AND OTHER SOURCES











Bhutan Economy 2014
SOURCE: 2014 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on January 31, 2014

Economy - overview:
Bhutan's economy, small and less developed, is based on agriculture and forestry, which provide the main livelihood for more than 40% 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 is dependent 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. Complicated controls and uncertain policies in areas such as industrial licensing, trade, labor, and finance continue to hamper foreign investment. The import of equipment and fuel to build hydropower plants is leading to large trade and current account deficits, though new hydropower projects and electricity exports to India are creating employment and will probably sustain growth in the coming years. GDP has rebounded strongly since the global recession began in 2008.

GDP (purchasing power parity):
$4.88 billion (2012 est.)
country comparison to the world: 171

$4.468 billion (2011 est.)
$4.117 billion (2010 est.)
note: data are in 2012 US dollars
[see also: GDP country ranks ]

GDP (official exchange rate):
$2.137 billion (2012 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
9.2% (2012 est.)
country comparison to the world: 11

8.5% (2011 est.)
11.7% (2010 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$6,600 (2012 est.)
country comparison to the world: 141

$6,100 (2011 est.)
$5,700 (2010 est.)
note: data are in 2012 US dollars
[see also: GDP - per capita country ranks ]

GDP - composition, by end use:
household consumption: 38.8%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 21.5%
investment in fixed capital: 60.5%
investment in inventories: 0.3%
exports of goods and services: 32.1%
imports of goods and services: -53.2%

(2012 est.)

GDP - composition, by sector of origin:
agriculture: 14.7%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 41.8%
services: 39% (2012 est.)

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

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

Industrial production growth rate:
12.4%
country comparison to the world: 9
[see also: Industrial production growth rate country ranks ]

Labor force:
299,900
country comparison to the world: 165
note: major shortage of skilled labor (2008)
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 43.7%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 39.1%
services: 17.2% (2004 est.)

Unemployment rate:
4% (2009)
country comparison to the world: 32

2.5% (2004)
[see also: Unemployment rate country ranks ]

Population below poverty line:
23.2% (2008)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 2.3%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 37.6% (2003)

Budget:
revenues: $615.7 million
[see also: Budget revenues country ranks ]
expenditures: $651.2 million
note: the government of India finances nearly one-quarter of Bhutan's budget expenditures (2012 est.)

Taxes and other revenues:
28.8% of GDP (2012 est.)
country comparison to the world: 103
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-1.7% of GDP (2012 est.)
country comparison to the world: 78
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
44.1% of GDP (2012 est.)
country comparison to the world: 78

46.8% of GDP (2011 est.)
[see also: Public debt country ranks ]

Fiscal year:
1 July - 30 June

Inflation rate (consumer prices):
10.9% (2012 est.)
country comparison to the world: 204

8.9% (2011 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
NA%
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
14% (31 December 2012 est.)
country comparison to the world: 54

14.16% (31 December 2011 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$191.9 million (31 December 2012 est.)
country comparison to the world: 178

$623.4 million (31 December 2011 est.)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$1.018 billion (31 December 2011 est.)
country comparison to the world: 169

$1.16 billion (31 December 2010 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$874.4 million (31 December 2012 est.)
country comparison to the world: 156

$747.5 million (31 December 2011 est.)
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$NA
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
$-311.6 million (2012 est.)
country comparison to the world: 93

$-354.9 million (2011 est.)
[see also: Current account balance country ranks ]

Exports:
$721.8 million (2012 est.)
country comparison to the world: 167

$662.2 million (2011 est.)
[see also: Exports country ranks ]

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

Imports:
$1.28 billion (2012 est.)
country comparison to the world: 175

$1.185 billion (2011 est.)
[see also: Imports country ranks ]

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

Debt - external:
$1.275 billion (2011)
country comparison to the world: 153

$836 million (2009)
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$63.5 million
country comparison to the world: 104
[see also: Stock of direct foreign investment - at home country ranks ]

Exchange rates:
ngultrum (BTN) per US dollar -

53.437 (2012 est.)
46.67 (2011 est.)
45.73 (2010 est.)
46.68 (2009 est.)
43.51 (2008 est.)


NOTE: 1) The information regarding Bhutan on this page is re-published from the 2014 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Bhutan Economy 2014 information contained here. All suggestions for corrections of any errors about Bhutan Economy 2014 should be addressed to the CIA.
2) The rank that you see is the CIA reported rank, which may habe the following issues:
  a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
  b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order






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