Mother Earth Travel > Country Index > Bhutan > Map Economy History |
| 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 90% 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. 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. Bhutan's hydropower potential and its attraction
for tourists are key resources. The Bhutanese Government has made some
progress in expanding the nation's productive base and improving social
welfare. Model education, social, and environment programs in Bhutan 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. Detailed controls and
uncertain policies in areas like industrial licensing, trade, labor, and
finance continue to hamper foreign investment. GDP: purchasing power parity - $2.3 billion (2000 est.) GDP - real growth rate: 6% (2000 est.) GDP - per capita: purchasing power parity - $1,100 (2000 est.) GDP - composition by sector: agriculture: 38% industry: 37% services: 25% (2000 est.) Inflation rate (consumer prices): 7% (2000 est.) Labor force - by occupation: agriculture 93%, services 5%, industry and commerce 2% Budget: revenues: $146 million expenditures: $152 million (FY95/96 est.) note: the government of India finances nearly three-fifths of Bhutan's budget expenditures Industries: cement, wood products, processed fruits, alcoholic beverages, calcium carbide Industrial production growth rate: 9.3% (1996 est.) Electricity - production: 1.856 billion kWh (1999) Electricity - production by source: fossil fuel: 0.05% hydro: 99.95% nuclear: 0% other: 0% (1999) Electricity - consumption: 191.1 million kWh (1999) Electricity - exports: 1.55 billion kWh (1999) Electricity - imports: 15 million kWh (1999) Agriculture - products: rice, corn, root crops, citrus, foodgrains; dairy products, eggs Exports: $154 million (f.o.b., 2000 est.) Exports - commodities: cardamom, gypsum, timber, handicrafts, cement, fruit, electricity (to India), precious stones, spices Exports - partners: India 94%, Bangladesh Imports: $269 million (c.i.f., 2000 est.) Imports - commodities: fuel and lubricants, grain, machinery and parts, vehicles, fabrics, rice Imports - partners: India 77%, Japan, UK, Germany, US Debt - external: $120 million (1998) Economic aid - recipient: $73.8 million (1995) Currency: 1 ngultrum (Nu) = 100 chetrum; note - Indian currency is also legal tender SOURCE: The World Factbook |
Mother Earth Travel > Country Index > Bhutan > Map Economy History