Is Bhutan a wealthy country?
Bhutan's small economy is based largely on hydropower, agriculture, and forestry, which provide the main livelihood for more than half the population. Because rugged mountains dominate the terrain and make the building of roads and other infrastructure difficult and expensive, industrial production is primarily of the cottage industry type. The economy is closely aligned with India's economy through strong trade and monetary links and is dependent on India for financial assistance and migrant laborers for development projects, especially for road construction. Bhutan signed a pact in December 2014 to expand duty-free trade with Bangladesh.
Multilateral development organizations administer most educational, social, and environmental programs, and take into account the government's desire to protect the country's environment and cultural traditions. For example, the government is cautious in its expansion of the tourist sector, restricting visits to environmentally conscientious tourists. Complicated controls and uncertain policies in areas such as industrial licensing, trade, labor, and finance continue to hamper foreign investment.
Bhutan’s largest export - hydropower to India - could spur sustainable growth in the coming years if Bhutan resolves chronic delays in construction. Bhutan’s hydropower exports comprise 40% of total exports and 25% of the government’s total revenue. Bhutan currently taps only 6.5% of its 24,000-megawatt hydropower potential and is behind schedule in building 12 new hydropower dams with a combined capacity of 10,000 megawatts by 2020 in accordance with a deal signed in 2008 with India. The high volume of imported materials to build hydropower plants has expanded Bhutan's trade and current account deficits. Bhutan also signed a memorandum of understanding with Bangladesh and India in July 2017 to jointly construct a new hydropower plant for exporting electricity to Bangladesh.
What is the GDP of Bhutan?
|Currency Name and Code||Bhutanese Ngultrum (BTN)|
|GDP - Gross Domestic Product (PPP)||$8,420,000,000 (USD)|
|GDP - official exchange rate||$2,085,000,000 (USD)|
|GDP - real growth rate||6%|
|GDP Per Capita||$8,100.00 (USD)|
|GDP by Sector- agriculture||16.4%|
|GDP by Sector- Industry||42.1%|
|GDP by Sector- services||41.5%|
|GDP - composition, by end use||
Household Consumption: 53.4%
Government Consumption: 18.7%
Investment in Fixed Capital: 64.3%
Investment in Inventories: 0%
Exports of Goods and Services: 42.4%
Imports of Goods and Services: -78.8%
|Population Below Poverty Line||12%|
|Labor Force By Occupation- agriculture||57%|
|Labor Force By Occupation- industry||21%|
|Labor Force By Occupation- services||22%|
|Fiscal Year||1 July - 30 June|
|Annual Budget||$640,400,000 (USD)|
|Budget Surplus or Deficit - percent of GDP||-3%|
|Public Debt (% of GDP)||30%|
|Taxes and other revenues - percent of GDP||30.7%|
|Major Industries||Cement, wood products, processed fruits, alcoholic beverages, calcium carbide, tourism|
|Industrial Growth Rate||6.5%|
|Agriculture Products||Rice, corn, root crops, citrus; dairy products, eggs|
|Exchange Rate per US Dollar||68.39|
|Child Labor - % of children ages 5-14||18%|
|Child Labor - # of children ages 5-14||25,801|
|Commercial Bank Prime Lending Rate||13.7%|