| Economy | Bhutan |
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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. Complicated 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. 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):
|
$4.284 billion (2011 est.)
$3.978 billion (2010 est.)
$3.672 billion (2009 est.)
note: data are in 2011 US dollars |
GDP - per capita (PPP):
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$6,000 (2011 est.)
$5,600 (2010 est.)
$5,200 (2009 est.)
note: data are in 2011 US dollars |
GDP (official exchange rate):
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$1.83 billion (2011 est.) |
GDP - real growth rate:
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8.1% (2011 est.)
8.3% (2010 est.)
6.7% (2009 est.) |
GDP - composition by sector:
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agriculture: 16.7%
industry: 45.4%
services: 37.9% (2011 est.) |
Investment (gross fixed):
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44.1% of GDP (2011 est.) |
Population below poverty line:
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23.2% (2008) |
Household income or consumption by percentage share:
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lowest 10%: 2.3%
highest 10%: 37.6% (2003) |
Distribution of family income - Gini index:
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void |
Inflation rate (consumer prices):
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6.8% (2011 est.)
7.1% (2010 est.) |
Central bank discount rate:
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NA% |
Commercial bank prime lending rate:
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14.5% (31 December 2011 est.)
14.5% (31 December 2010 est.) |
Stock of money:
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$NA (31 December 2008)
$381.1 million (31 December 2007) |
Stock of money - per capita:
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1 USD per capita |
Stock of quasi money:
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$NA (31 December 2008)
$220.3 million (31 December 2007) |
Stock of quasi money - per capita:
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void |
Stock of domestic credit:
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$246.8 million (31 December 2011 est.)
$218.7 million (31 December 2010 est.) |
Stock of domestic credit - per capita:
|
349 USD per capita |
Stock of narrow money:
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$536 million (31 July 2011 est.)
$418.9 million (31 December 2010 est.) |
Stock of broad money:
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$942 million (31 July 2011 est.)
$723.3 million (31 December 2010 est.) |
Labor force:
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299,900
note: major shortage of skilled labor (2008) |
Labor force participation rate:
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42.33 % of population |
Labor force - by occupation:
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agriculture: 43.7%
industry: 39.1%
services: 17.2% (2004 est.) |
Unemployment rate:
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4% (2009)
2.5% (2004) |
Unemployment, youth ages 15-24:
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total: 6.3%
male: 5.5%
female: 7.2% (2005) |
Budget:
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revenues: $675.3 million
expenditures: $765.1 million
note: the government of India finances nearly three-fifths of Bhutan's budget expenditures (2011 est.) |
Budget revenues per capita:
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954 USD per capita |
Taxes and other revenues:
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36.9% of GDP (2011 est.) |
Budget surplus (+) or deficit (-):
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-4.9% of GDP (2011 est.) |
Public debt:
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78.9% of GDP (FY 10/11 est.)
57.8% of GDP (2009 est.) |
Industries:
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cement, wood products, processed fruits, alcoholic beverages, calcium carbide, tourism |
Industrial production growth rate:
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NA% |
Electricity - production:
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1.48 billion kWh (2009 est.) |
Electricity - production per capita:
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2,090 kWh per capita |
Electricity - consumption:
|
184 million kWh (2009 est.) |
Electricity - consumption - per capita:
|
260 kWh per capita |
Electricity - exports:
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1.296 billion kWh (2009 est.) |
Electricity - imports:
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5.693 billion kWh (2008 est.) |
Oil - production:
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0 bbl/day (2010 est.) |
Oil - production per capita:
|
void |
Oil - consumption:
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1,000 bbl/day (2010 est.) |
Oil - consumption - per capita:
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0.52 bbl/year per capita |
Oil - exports:
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0 bbl/day (2009 est.) |
Oil - imports:
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1,549 bbl/day (2009 est.) |
Oil - proved reserves:
|
0 bbl (1 January 2011 est.) |
Natural gas - production:
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0 cu m (2009 est.) |
Natural gas - production per capita:
|
void |
Natural gas - consumption:
|
0 cu m (2009 est.) |
Natural gas - consumption - per capita:
|
void |
Natural gas - exports:
|
0 cu m (2009 est.) |
Natural gas - imports:
|
0 cu m (2009 est.) |
Natural gas - proved reserves:
|
0 cu m (1 January 2011 est.) |
Agriculture - products:
|
rice, corn, root crops, citrus, foodgrains; dairy products, eggs |
Current account balance:
|
-$175 million (2011 est.)
-$112.9 million (2009 est.) |
Current account balance - per capita:
|
-247 USD per capita |
Exports:
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$509.4 million (2009 est.)
$513 million (2008) |
Exports per capita:
|
720 USD per capita |
Exports - commodities:
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electricity (to India), ferrosilicon, cement, calcium carbide, copper wire, manganese, vegetable oil |
Exports - partners:
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India 86.3%, Bangladesh 8.1%, Italy 1.5% (2008) |
Imports:
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$620.8 million (2009 est.)
$533 million (2008) |
Imports per capita:
|
877 USD per capita |
Imports - commodities:
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fuel and lubricants, passenger cars, machinery and parts, fabrics, rice |
Imports - partners:
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India 63%, Japan 12.3%, China 5.1% (2008) |
Reserves of foreign exchange and gold:
|
$1.002 billion (31 December 2010 est.)
$890.9 million (31 December 2009 est.) |
Reserves of foreign exchange and gold - per capita:
|
1,415 USD per capita |
Debt - external:
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$1.275 billion (2011)
$836 million (2009) |
Debt - external - per capita:
|
1,800 USD per capita |
Stock of direct foreign investment - at home:
|
void |
Stock of direct foreign investment - at home - per capita:
|
void |
Stock of direct foreign investment - abroad:
|
void |
Stock of direct foreign investment - abroad - per capita:
|
void |
Market value of publicly traded shares:
|
$NA |
Market value of publicly traded shares - per capita:
|
void |
Currency (code):
|
ngultrum (BTN); Indian rupee (INR) |
Exchange rates:
|
ngultrum (BTN) per US dollar -
52.85 (2011 est.)
45.73 (2010 est.)
41.487 (2007) |
Fiscal year:
|
1 July - 30 June |
|
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