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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.
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GDP
(purchasing power parity):
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$3.526
billion (2010 est.)
country
comparison to the world:
170
$3.301
billion (2009 est.)
$3.123
billion (2008 est.)
note:
data
are in 2010 US dollars
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GDP
(official exchange rate):
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$1.397
billion (2010 est.)
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GDP
- real growth rate:
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6.8%
(2010 est.)
country
comparison to the world:
26
5.7%
(2009 est.)
2.7%
(2008 est.)
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GDP
- per capita (PPP):
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$5,000
(2010 est.)
country
comparison to the world:
144
$4,800
(2009 est.)
$4,600
(2008 est.)
note:
data
are in 2010 US dollars
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GDP
- composition by sector:
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agriculture:
17.6%
industry:
45%
services:
37.4%
(2006)
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Labor
force:
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299,900
country
comparison to the world:
164
note:
major
shortage of skilled labor (2008)
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Labor
force - by occupation:
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agriculture:
63%
industry:
6%
services:
31%
(2004 est.)
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Unemployment
rate:
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4%
(2009)
country
comparison to the world:
36
2.5%
(2004)
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Population
below poverty line:
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23.2%
(2008)
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Household
income or consumption by percentage share:
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lowest
10%: 2.3%
highest
10%: 37.6%
(2003)
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Public
debt:
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57.8% of
GDP (2009)
country
comparison to the world:
40
81.4% of
GDP (2004)
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Inflation
rate (consumer prices):
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4.3%
(2008 est.)
country
comparison to the world:
127
4.9%
(2007 est.)
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Central
bank discount rate:
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NA%
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Commercial
bank prime lending rate:
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NA% (31
December 2009 est.)
NA% (31
December 2008 est.)
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Stock
of narrow money:
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$335
million (31 December 2008)
country
comparison to the world:
164
$381.1
million (31 December 2007)
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Stock
of broad money:
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$NA (31
December 2009)
$647.6
million (31 December 2008)
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Stock
of domestic credit:
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$NA (31
December 2008)
$169.9
million (31 December 2007 est.)
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Market
value of publicly traded shares:
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$NA
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Agriculture
- products:
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rice,
corn, root crops, citrus, foodgrains; dairy
products, eggs
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Industries:
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cement,
wood products, processed fruits, alcoholic
beverages, calcium carbide, tourism
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Industrial
production growth rate:
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NA%
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Electricity
- production:
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1.48
billion kWh (2009 est.)
country
comparison to the world:
140 |
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Electricity
- consumption:
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184
million kWh (2009 est.)
country
comparison to the world:
178 |
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Electricity
- exports:
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1.296
billion kWh (2009 est.)
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Electricity
- imports:
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0 kWh
(2009 est.)
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Oil
- production:
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0
bbl/day (2009 est.)
country
comparison to the world:
118 |
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Oil
- consumption:
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1,000
bbl/day (2009 est.)
country
comparison to the world:
190 |
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Oil
- exports:
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0
bbl/day (2008 est.)
country
comparison to the world:
140 |
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Oil
- imports:
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1,250
bbl/day (2008 est.)
country
comparison to the world:
183 |
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Oil
- proved reserves:
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0 bbl (1
January 2010 est.)
country
comparison to the world:
199 |
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Natural
gas - production:
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0 cu m
(2008 est.)
country
comparison to the world:
202 |
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Natural
gas - consumption:
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0 cu m
(2008 est.)
country
comparison to the world:
204 |
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Natural
gas - exports:
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0 cu m
(2008 est.)
country
comparison to the world:
53 |
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Natural
gas - imports:
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0 cu m
(2008 est.)
country
comparison to the world:
80 |
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Natural
gas - proved reserves:
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0 cu m
(1 January 2010 est.)
country
comparison to the world:
200 |
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Current
account balance:
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$164
million (2008 est.)
country
comparison to the world:
55
$116
million (2007 est.)
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Exports:
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$513
million (2008)
country
comparison to the world:
166
$350
million (2006)
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Exports
- commodities:
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electricity
(to India), ferrosilicon, cement, calcium carbide,
copper wire, manganese, vegetable oil
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Exports
- partners:
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India
86.3%, Bangladesh 8.1%, Italy 1.5% (2008)
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Imports:
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$533
million (2008)
country
comparison to the world:
187
$320
million (2006)
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Imports
- commodities:
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fuel and
lubricants, passenger cars, machinery and parts,
fabrics, rice (2008)
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Imports
- partners:
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India
63%, Japan 12.3%, China 5.1% (2008)
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Debt
- external:
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$836
million (2009)
country
comparison to the world:
152
$713.3
million (2006)
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Exchange
rates:
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ngultrum
(BTN) per US dollar - 46.6 (2009), 41.487 (2007),
45.279 (2006), 44.101 (2005), 45.317 (2004)
note:
the
ngultrum is pegged to the Indian rupee
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