4 GeoFroggy

Bhutan

Continent:

Geography

People &
Society

Government

Economy

Energy

Communications

Military &
Security

Transportation

Terrorism

Transnational Issues
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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. 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.

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

9.3% (1996 est.)

Labor Force

Array

Electricity production

4.475 billion kWh (2007 est.)

Electricity Consumption

528.8 million kWh (2007 est.)

Electricity Exports

3.644 billion kWh (2007 est.)

Electricity Imports

11 million kWh (2007 est.)

Unemployment Rate

2.5% (2004)

Population Below Poverty Line

Household Income or Consumption by Percentage Share

Lowest 10%: NA%

Highest 10%: NA%

Budget

Revenues: $272 million

Expenditures: $350 million

Note: the government of India finances nearly three-fifths of Bhutan's budget expenditures (2005)

Public Debt

81.4% of GDP (2004)

Commercial Bank Prime Lending Rate

Stock of Narrow Money

Stock of Broad Money

Stock of Domestic Credit

$169.9 million (31 December 2007)

Market Value of Publicly Traded Shares

$NA

Reserves of Foreign Exchange and Gold

Debt External

$713.3 million (2006)

Stock of Direct Foreign Investment at Home

Stock of Direct Foreign Investment Abroad

Exchange Rates

Exchange rates: ngultrum (BTN) 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

Year

GDP Official Exchange Rate

  • $1.308 billion 2007 est.

GDP Purchasing Power Parity

    $3.359 billion (2007 est.)

GDP Real Growth Rate

    22.4% (2007 est.)

GDP Per Capital

    $5,200 (2007 est.)

Gross National Saving

GDP Composition by end Use

GDP Composition by Sector of Origin

  • Agriculture
    22.3%
  • Industry
    37.9%
  • Services
    39.8% (2006)

Inflation Rate Consumer Prices

    4.9% (2007 est.)

Current Account Balance

    $116 million (2007 est.)

Exports

    $350 million f.o.b. (2006)

Exports Partners

  • India
    58.6%
  • Hong
    Kong
  • Bangladesh
    7.3%

Exports Commodities

    Electricity (to India), cardamom, gypsum, timber, handicrafts, cement, fruit, precious stones, spices

Imports

    $320 million c.i.f. (2006)

Imports Partners

  • India
    74.5%
  • Japan
    7.4%
  • Sweden
    3.2%

Imports Commodities

    Fuel and lubricants, grain, aircraft, machinery and parts, vehicles, fabrics, rice
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