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Economy - overview:
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 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 environment 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, restricing 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.
Agriculture - products:
rice, corn, root crops, citrus; dairy products, eggs
Industries:
cement, wood products, processed fruits, alcoholic beverages, calcium carbide, tourism
Labor force:
397,900 (2017 est.)
note: major shortage of skilled labor
country comparison to the world: 160
[see also: Labor force country ranks ]
Unemployment rate:
3.2% (2017 est.)
3.2% (2016 est.)
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9/1/2019 Bhutan Economy 2019, CIA World Factbook
Budget:
revenues: 655.3 million (2017 est.)
[see also: Budget - revenues country ranks ]
expenditures: 737.4 million (2017 est.)
note: the Government of India finances nearly one-quarter of Bhutan's budget expenditures
Public debt:
106.3% of GDP (2017 est.)
114.2% of GDP (2016 est.)
country comparison to the world: 12
[see also: Public debt country ranks ]
Fiscal year:
1 July - 30 June
Exports:
$554.6 million (2017 est.)
$495.3 million (2016 est.)
country comparison to the world: 174
[see also: Exports country ranks ]
Exports - partners:
India 95.3% (2017)
Exports - commodities:
electricity (to India), ferrosilicon, cement, cardamom, calcium carbide, steel rods/bars, dolomite, gypsum
Imports:
$1.025 billion (2017 est.)
$1.03 billion (2016 est.)
country comparison to the world: 184
[see also: Imports country ranks ]
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9/1/2019 Bhutan Economy 2019, CIA World Factbook
Imports - commodities:
fuel and lubricants, airplanes, machinery and parts, rice, motor vehicles
Imports - partners:
India 89.5% (2017)
Debt - external:
$2.671 billion (31 December 2017 est.)
$2.355 billion (31 December 2016 est.)
country comparison to the world: 147
[see also: Debt - external country ranks ]
Exchange rates:
ngultrum (BTN) per US dollar -
64.97 (2017 est.)
67.2 (2016 est.)
67.2 (2015 est.)
64.15 (2014 est.)
61.03 (2013 est.)
NOTE: 1) The information regarding Bhutan on this page is re-published from the 2019 World Fact Book of the United States Central Intelligence Agency. No claims are
made regarding the accuracy of Bhutan Economy 2019 information contained here. All suggestions for corrections of any errors about Bhutan Economy 2019 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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