Bhutan

Description of Bhutan

Bhutan, nestled in the eastern Himalayas, is a country known for its stunning landscapes, Gross National Happiness index, and commitment to environmental conservation. As one of the last remaining Buddhist kingdoms in the world, Bhutan has a unique cultural heritage that is intertwined with its policies and development strategies. This landlocked nation has been making strides in sustainable development while balancing modernization with the preservation of its traditional way of life. Join us as we delve into the macroeconomic landscape of Bhutan and explore how various statistics impact its growth and relationships with other nations.

Population And Age Structure

Population, total: Bhutan has a population of 772,506 which is significantly below the average population of 40,097,746. Bhutan ranks 160 out of 194 countries in terms of total population.

Population ages 0-14 (% of total population): The percentage of population ages 0-14 in Bhutan is 23.53%, lower than the average of 27.34%. Bhutan ranks 111 out of 194 countries in this age group.

Population ages 0-14, total: Bhutan has 181,742 children aged 0-14, which is well below the average of 10,327,379. Bhutan ranks 161 out of 194 countries in this category.

Population ages 15-64 (% of total population): Bhutan's working-age population (15-64) makes up 70.44% of the total population, higher than the average of 63.44%. Bhutan ranks 18 out of 194 countries for this age group.

Population ages 15-64, total: With a total of 544,166 individuals aged 15-64, Bhutan is below the average of 26,003,407. Bhutan ranks 158 out of 194 countries in this age group.

Population ages 65 and above (% of total population): The elderly population (65 and above) in Bhutan constitutes 6.03% of the total population, lower than the average of 9.22%. Bhutan ranks 105 out of 194 countries for this demographic.

Population ages 65 and above, total: Bhutan has 46,598 individuals aged 65 and above, significantly below the average of 3,766,959. Bhutan ranks 162 out of 194 countries in this age category.

Summary

Bhutan's population of 772,506 is below the global average, with relatively fewer children aged 0-14 and elderly individuals aged 65 and above. However, the country boasts a higher percentage of working-age individuals (15-64) compared to the average. These statistics are crucial as they indicate a demographic composition that may impact social services, healthcare, labor force dynamics, and overall economic development strategies in Bhutan.

Population Miscellaneous

Rural population in Bhutan is 445,612, significantly below the average of 18,044,041. Bhutan ranks 149th out of 190 countries in this category. Rural population (% of total population) stands at 57.684, higher than the average of 41.158. Bhutan is ranked 50th out of 190 countries in this metric.

Urban population in Bhutan is 326,894, well below the average of 22,425,747. Bhutan is ranked 165th out of 194 countries in urban population. The urban population (% of total population) is 42.316, lower than the average of 59.691, with Bhutan ranking 145th out of 194 countries.

Bhutan's age dependency ratio (% of working-age population) is 41.961, lower than the average of 59.219. Bhutan ranks 177th out of 194 countries in this regard. The crude birth rate in Bhutan is 12.65, below the average of 19.384, placing Bhutan 122nd out of 192 countries.

With a crude death rate of 6.545, Bhutan is below the average of 8.214. In this category, Bhutan is ranked 133rd out of 192 countries. The total fertility rate in Bhutan is 1.433, indicating a value lower than the average of 2.603. Bhutan ranks 166th out of 190 countries.

Summary

Bhutan has a relatively small rural population compared to the global average, but a higher percentage of its total population resides in rural areas. The country also has a lower urban population and urban population percentage compared to the global average. Bhutan's age dependency ratio is lower than the global average, indicating a potentially more economically active population. Furthermore, Bhutan exhibits lower crude birth, death rates, and total fertility rate compared to the global average, which could impact the country's future demographic trends and workforce dynamics.

These indicators are crucial as they provide insights into Bhutan's demographic structure, urbanization trends, and potential labor force capacity. Understanding these statistics can help policymakers make informed decisions regarding infrastructure development, social welfare programs, and economic planning to ensure sustainable growth and stability in Bhutan.

Natural Resources

1. Bhutan has a forest area of 27,250.8 sq. km, ranking 93 out of 191 countries. This value is below the global average of 211,606.11 sq. km for forest area.

2. The land area in Bhutan is 38,140 sq. km, ranking 132 out of 194 countries, well below the average land area of 665,166.51 sq. km.

3. Bhutan's surface area is 38,390 sq. km, ranking 133 out of 194 countries, which is significantly lower than the average surface area of 689,779.56 sq. km.

4. The arable land in Bhutan spans 94,000 hectares, placing it at rank 149 out of 190 countries. This value is notably lower than the global average of 7,329,543.16 hectares.

5. Bhutan's land under cereal production covers 30,099 hectares, ranking 145 out of 174 countries. This area is below the average land dedicated to cereal production globally, which stands at 4,206,011.63 hectares.

6. With an average precipitation depth of 2,200 mm per year, Bhutan ranks 23 out of 178 countries, well above the global average of 1,157.83 mm per year.

7. Bhutan's renewable internal freshwater resources total 78 billion cubic meters, placing it at rank 64 out of 178 countries. This value falls below the average of 240.41 billion cubic meters.

Summary

Bhutan's land-related statistics, such as forest area, land area, arable land, and land under cereal production, indicate a relatively small land size compared to the global average, limiting its agricultural and forestry potential. However, the country's high precipitation depth and significant renewable internal freshwater resources can be crucial assets for sustainable agriculture and water management, potentially supporting economic development and environmental conservation efforts.

Resource Rents

1. Total natural resources rents (% of GDP): Bhutan's value for this attribute is 2.79%, which is below the average of 4.63%. Bhutan is ranked 72 out of 175 countries in this data set.

2. Forest rents (% of GDP): Bhutan's value for forest rents is 2.74%, above the average of 1.53%. Bhutan is ranked 29 out of 174 countries in this data set.

3. Mineral rents (% of GDP): Bhutan's value for mineral rents is 0.05%, significantly below the average of 1.23%. Bhutan is ranked 61 out of 86 countries in this data set.

Summary

Bhutan has relatively low total natural resources rents and mineral rents as percentages of its GDP, but it excels in forest rents compared to global averages. These statistics indicate that Bhutan may have a sustainable approach to managing its forests for economic benefit, potentially contributing to its overall GDP. However, the low mineral rents suggest that Bhutan may not be fully tapping into its mineral resources for economic gain, which could be a point of further exploration for the country in terms of economic development.

Commodities

When it comes to Cereal production (metric tons), Bhutan's value of 103397.48 is significantly below the average of 17249945.93 metric tons. Bhutan ranks 144th out of 174 countries in this category.

With regards to Aquaculture production (metric tons), Bhutan's production of 181 metric tons is far below the average of 679642.92 metric tons. Bhutan occupies the 143rd position out of 180 countries.

In terms of Capture fisheries production (metric tons), Bhutan's production of 15 metric tons is substantially lower than the average of 467453.06 metric tons. Bhutan ranks 189th out of 190 countries.

Looking at Total fisheries production (metric tons), Bhutan's production of 196 metric tons falls well short of the average of 1153914.85 metric tons. Bhutan is positioned at 179th out of 182 countries.

Regarding Fertilizer consumption (kilograms per hectare of arable land), Bhutan's consumption of 14.31 kilograms per hectare is below the average of 159.04 kilograms per hectare. Bhutan holds the 152nd rank out of 187 countries in this respect.

Summary

Bhutan's agricultural productivity in terms of cereal, aquaculture, capture fisheries, and total fisheries production lags significantly behind the global average, as evidenced by its low rankings among countries. Additionally, Bhutan's relatively low fertilizer consumption per hectare of arable land further reflects the challenges the country faces in enhancing agricultural output and sustainability. Addressing these issues is crucial for Bhutan to improve food security, boost economic growth, and enhance its overall development trajectory.

Intellectual Property

Among 113 countries, Bhutan ranks 98th in Industrial design applications by count, with a value of 9, significantly below the average of 9799.58.

In terms of Patent applications by nonresidents, Bhutan ranks 109th out of 129 countries, with a value of 6, much lower than the average of 6538.40.

Bhutan places 100th out of 130 countries for Trademark applications by nonresidents, with a value of 2121, notably lower than the average of 15878.93.

For Trademark applications by residents, Bhutan ranks 112th out of 129 countries, with a value of 255, far below the average of 111055.78.

Bhutan stands at 137th out of 192 countries in Scientific and technical journal articles, with a value of 79.66, significantly below the average of 15103.76.

Bhutan ranks 138th out of 143 countries for Charges for the use of intellectual property payments (BoP, current US$), with a value of 102284.29, notably below the average of 3218843494.39.

Regarding Charges for the use of intellectual property receipts (BoP, current US$), Bhutan is at 115th place out of 122 countries, with a value of 13543.07, considerably below the average of 3191687117.58.

Summary

Bhutan ranks quite low in various key macroeconomic indicators related to industrial design, patent applications, trademark applications, scientific and technical journal articles, and intellectual property payments and receipts. These rankings indicate a significant gap between Bhutan and the global average across these indicators, highlighting potential areas for improvement in innovation, intellectual property protection, and knowledge creation. Addressing these shortcomings could enhance Bhutan's competitiveness, attract foreign investment, and foster economic growth in the country.

Broad Economy Attributes

- Bhutan's GDP (current US$) is $2.46 billion, significantly below the average of $442.87 billion, ranking 163rd out of 189 countries in the dataset.
- In terms of GDP, PPP (current international $), Bhutan's value of $9.12 billion is notably lower than the average of $734.14 billion, placing Bhutan at the 151st position out of 181 countries.
- Bhutan's GDP per capita (current US$) stands at $3,181, much lower than the average of $15,462. Bhutan ranks 129th out of 190 countries based on this metric.
- The GDP per capita, PPP (current international $) for Bhutan is $11,802, below the average of $21,252. Bhutan holds the 101st position out of 181 countries.
- Bhutan's GNI (current US$) is $2.31 billion, significantly lower than the average of $452.04 billion, ranking 163rd out of 185 countries.
- With a GNI, PPP (current international $) of $8.59 billion, Bhutan falls below the average of $730.70 billion and is placed 151st out of 181 countries.
- Bhutan's GNI per capita, PPP (current international $) at $11,120 is less than the average of $20,616. Bhutan ranks 103rd among 181 countries based on this metric.

Summary

Bhutan's macroeconomic indicators such as GDP, GDP per capita, and GNI all reflect values significantly below the global averages, positioning the country in the lower ranks compared to other nations. These figures highlight Bhutan's economic challenges and underscore the need for focused policies and strategies to stimulate growth, improve productivity, and enhance living standards for its population.

Broad Value Added

1. Bhutan's Gross value added at basic prices (GVA) is $2,395,566,488.73, ranking 159th out of 176 countries in the dataset. This value is significantly below the attribute average of $360,070,943,595.12.

2. In Agriculture, forestry, and fishing, value added (% of GDP), Bhutan's value of 15.70% is above the average of 10.86%, ranking 52nd out of 182 countries.

3. Bhutan's Agriculture, forestry, and fishing, value added in current US$ is $385,919,394.10, placing it 146th out of 182 countries. This value is notably lower than the attribute average of $19,924,732,828.07.

4. Services, value added (% of GDP) in Bhutan accounts for 49.98% of GDP, below the average of 56.72%. Bhutan ranks 138th out of 183 countries.

5. Bhutan's Services, value added in current US$ is $1,228,350,689.18, ranking 161st out of 183 countries. This is significantly lower than the attribute average of $295,837,711,130.69.

6. Lastly, Bhutan's Industry (including construction), value added is $781,296,405.44, which places it at a rank of 159 out of 183 countries, significantly below the attribute average of $118,421,095,413.50.

Summary

Bhutan's economy is heavily dependent on the Agriculture, forestry, and fishing sector, as evidenced by its above-average value added in this area compared to the global average. However, its overall Gross value added and Services value added metrics are significantly below the global average, indicating potential areas for growth and diversification to improve economic performance.

These findings are crucial as they highlight Bhutan's economic strengths and weaknesses, providing insights for policymakers to focus on enhancing productivity and competitiveness in non-traditional sectors to drive sustainable economic growth and reduce reliance on a few key industries.

Manufacturing Value Added

Bhutan's manufacturing value added is $121,139,521.16, significantly below the average of $76,207,179,589.66 (rank 153 out of 173 countries). This indicates a considerable difference of -$76,086,040,068.50 from the average.

The manufacturing value added as a percentage of GDP in Bhutan is 4.93%, which is below the average of 11.90%. Bhutan ranks 148 out of 173 countries in this aspect. It shows a difference of -6.97% from the average.

Summary

Bhutan's manufacturing sector contributes significantly less to its economy compared to the global average, both in terms of absolute value and as a percentage of GDP. This indicates a potential lack of diversification in Bhutan's economy and a reliance on other sectors for economic growth and stability. Addressing this imbalance and boosting the manufacturing sector could help Bhutan achieve more sustainable and balanced economic development in the long run.

Money

Bhutan's consumer price inflation rate is 5.63%, below the average of 8.26%. It ranks 30th out of 165 countries in this data set.
The GDP deflator inflation in Bhutan is 5.29%, also below the average of 6.90%, ranking 42nd out of 188 countries.
Bhutan's broad money growth is notably high at 28.00%, surpassing the average of 18.03%. It ranks 11th out of 139 countries.
Broad money as a percentage of GDP in Bhutan is 95.04%, above the average of 71.75%, placing it at the 30th rank out of 139 countries.
Moreover, Bhutan's broad money to total reserves ratio at 1.64 is below the average of 5.17, ranking 105th out of 126 countries in the dataset.

Summary

Bhutan boasts a relatively low consumer price inflation rate and GDP deflator inflation compared to the global averages, positioning it favorably at the 30th and 42nd ranks, respectively, out of the countries analyzed. However, its notably high broad money growth and broad money as a percentage of GDP signify a robust financial environment, placing Bhutan at the 11th and 30th ranks, respectively. The lower ratio of broad money to total reserves indicates a conservative approach to financial risk management, albeit ranking lower at 105th.

These indicators are crucial in assessing Bhutan's economic stability and growth prospects. The low inflation rates suggest price stability and controlled economic expansion. The high broad money growth indicates potential for increased investment and economic activity, while the high broad money to GDP ratio signifies financial deepening. However, the lower broad money to total reserves ratio indicates the need for potential improvement in building up reserves to mitigate financial risks effectively.

Consumption Expenditure

Final consumption expenditure (current US$): Bhutan's final consumption expenditure is significantly below the attribute average of $381,630,252,515.38, ranking 146th out of 159 countries.

Final consumption expenditure (% of GDP): Bhutan's final consumption expenditure as a percentage of GDP is slightly below the average of 82.37%, ranking 100th out of 159 countries.

General government final consumption expenditure (current US$): Bhutan's government final consumption expenditure is substantially lower than the average of $93,676,578,238.03, ranking 143rd out of 158 countries.

General government final consumption expenditure (% of GDP): Bhutan's government final consumption expenditure as a percentage of GDP is above average at 22.32%, ranking 37th out of 158 countries.

Household and NPISHs Final consumption expenditure (current US$): Bhutan's household and NPISHs final consumption expenditure is much lower than the average of $290,127,571,157.69, ranking 144th out of 158 countries.

Households and NPISHs final consumption expenditure (% of GDP): Bhutan's household and NPISHs final consumption expenditure as a percentage of GDP is below average at 54.31%, ranking 110th out of 158 countries.

Summary

Bhutan's final consumption expenditure, both in absolute terms and as a percentage of GDP, is consistently below global averages, indicating a relatively lower level of economic activity and consumption compared to other countries. This suggests potential challenges in driving economic growth and development, as higher consumption expenditure typically correlates with increased economic activity, investment, and overall prosperity.

Investment

Bhutan's foreign direct investment, net (BoP, current US$) stands at 2,786,960.89, which is significantly higher than the average of -1,615,235,980.51. This places Bhutan at the 35th rank out of 169 countries in the dataset.

In terms of foreign direct investment, net inflows (BoP, current US$), Bhutan records -2,786,960.89, well below the average of 5,749,271,080.15. It ranks 157th out of 182 countries in this category.

Bhutan's foreign direct investment, net inflows (% of GDP) is at -0.11%, significantly below the average of 2.61%. This places Bhutan at the 156th rank out of 178 countries in the dataset.

Summary

Bhutan stands out with a positive foreign direct investment (FDI) net inflow but falls short when compared to the global average in terms of FDI net inflows and FDI net inflows as a percentage of GDP. Despite ranking 35th in FDI net (BoP, current US$), it ranks significantly lower at 157th and 156th in FDI net inflows and FDI net inflows (% of GDP) respectively. These statistics highlight Bhutan's potential for attracting foreign investment, but also underscore the need to enhance its FDI inflows to align with global averages for sustainable economic growth and development.

Debt

Bhutan's total debt service (% of GNI) is 2.50, below the average of 5.98, ranking 83 out of 120 countries. Public and publicly guaranteed debt service (% of GNI) stands at 2.02, below the average of 2.84, ranking 63 out of 120 countries. External debt stocks (% of GNI) in Bhutan are notably high at 131.19, well above the average of 65.42, ranking 10 out of 120 countries. Debt service on external debt, total (TDS, current US$), at $57,861,851.8, is significantly lower than the average, with Bhutan ranking 105 out of 123 countries. Debt service on external debt, public and publicly guaranteed (PPG) (TDS, current US$) is also below average at $46,759,383.5, ranking 103 out of 123 countries. External debt stocks in public and publicly guaranteed (PPG) (DOD, current US$) is $2,985,320,870.6, significantly below the average, with Bhutan ranking 86 out of 123 countries. The External debt stocks, private nonguaranteed (PNG) (DOD, current US$) of $41,356,000 is notably below the average, ranking 86 out of 91 countries. Finally, the External debt stocks, total (DOD, current US$) of $3,036,756,638.4 is well below the average, placing Bhutan at 95 out of 123 countries.

Summary

Bhutan's debt indicators generally show that the country has relatively low debt service and external debt compared to the average of 120 countries analyzed. Despite having notably high external debt stocks as a percentage of Gross National Income (GNI), Bhutan's debt service payments on external debt are significantly lower than the average. These findings suggest that Bhutan has managed its debt levels prudently, which is crucial for maintaining financial stability and sustainable economic development in the long term.

Broad Trade Attributes

Trade (% of GDP): Bhutan's trade as a percentage of GDP is 71.83%, which is below the average of 82.34%. Bhutan ranks 75th out of 163 countries in this measure.

Merchandise trade (% of GDP): Bhutan's merchandise trade as a percentage of GDP is 63.07%, above the average of 60.01%. Bhutan ranks 59th out of 186 countries in this measure.

Trade in services (% of GDP): Bhutan's trade in services as a percentage of GDP is 14.66%, significantly below the average of 24.63%. Bhutan ranks 87th out of 171 countries in this measure.

External balance on goods and services (current US$): Bhutan's external balance on goods and services is -385,821,282.87 USD, which is much lower than the average of 3,405,509,011.13 USD. Bhutan ranks 89th out of 163 countries in this measure.

External balance on goods and services (% of GDP): Bhutan's external balance on goods and services as a percentage of GDP is -15.70%, below the average of -5.97%. Bhutan ranks 130th out of 163 countries in this measure.

Summary

Bhutan has a significant trade dependency with trade constituting 71.83% of its GDP, albeit lower than the global average. The country performs well in merchandise trade compared to others, standing at 63.07% of GDP. However, Bhutan's trade in services lags behind at 14.66%, highlighting a potential area for improvement. The negative external balance on goods and services, both in absolute and relative terms, indicates a trade deficit and a reliance on imports over exports, which can impact the country's overall economic stability and development.

Net Trade

The Current account balance (BoP, current US$) for Bhutan is -381,152,580.87, which is below the average of $1,443,864,831.49. Bhutan ranks 98th out of 170 countries in this attribute.

The Current account balance (% of GDP) for Bhutan is -15.51%, significantly lower than the average of -2.36%. Bhutan ranks 156th out of 170 countries in this attribute.

The Net trade in goods and services (BoP, current US$) for Bhutan is -401,795,399.43, below the average of $2,604,730,003.57. Bhutan ranks 91st out of 171 countries.

The Net primary income (BoP, current US$) for Bhutan is -148,531,348.22, above the average of -$903,807,529.74. Bhutan ranks 68th out of 170 countries in this attribute.

The Net secondary income (BoP, current US$) for Bhutan is $169,174,166.78, higher than the average of -$269,227,340.40. Bhutan ranks 100th out of 170 countries.

The Net trade in goods (BoP, current US$) for Bhutan is -311,014,844.53, below the average of $1,302,831,005.68. Bhutan ranks 83rd out of 171 countries.

The Net capital account (BoP, current US$) for Bhutan is $144,012,360.76, slightly above the average of $136,543,824.05. Bhutan ranks 59th out of 159 countries in this attribute.

The Net financial account (BoP, current US$) for Bhutan is -194,156,922.11, higher than the average of -$469,840,994.63. Bhutan ranks 88th out of 170 countries.

Summary

Bhutan has a negative current account balance and net trade in goods and services, ranking lower compared to the global average, indicating a trade deficit. However, Bhutan performs relatively well in net primary income and net capital account, ranking above average globally. These indicators are crucial as they reflect Bhutan's economic stability, trade relationships, and ability to attract foreign investment.

Broad Export Attributes

- Exports of goods, services and primary income (BoP, current US$): Bhutan's value of $816,188,649.76 is significantly below the average of $146,238,908,936.30. Bhutan is ranked 150th out of 170 countries in this attribute.
- Exports of goods and services (BoP, current US$): Bhutan's value of $786,680,733.24 is notably lower than the average of $122,938,540,059.78. Bhutan ranks 150th out of 170 countries in this category.
- Exports of goods and services (current US$): Bhutan's value of $689,742,222.11 falls below the average of $129,596,864,610.19. Bhutan is ranked 146th out of 163 countries for this attribute.
- Exports of goods and services (% of GDP): Bhutan's value of 28.07% is lower than the average of 38.19%. Bhutan is ranked 90th out of 163 countries in this aspect.
- Goods exports (BoP, current US$): Bhutan's value of $651,940,784.29 is below the average of $93,310,581,697.39. Bhutan ranks 145th out of 171 countries for goods exports.
- International tourism, receipts (% of total exports): Bhutan's percentage of 10.68% is above the average of 9.74%. Bhutan is placed 29th out of 120 countries in terms of international tourism receipts.

Summary

Bhutan's export values across various categories are consistently below global averages, with rankings ranging from 90th to 150th out of 163-171 countries. Particularly noteworthy is Bhutan's low ranking in international goods exports and its relatively low percentage of exports compared to GDP. These indicators are crucial as they highlight Bhutan's challenges in global trade and economic diversification, pointing towards potential areas for policy focus and development strategies.

Merchandise Exports

Summary

Bhutan's merchandise exports in terms of value and percentage are notably below the global average and rank low among countries. This suggests that Bhutan has limited participation in international trade, potentially hindering its economic growth and diversification. Improving export capabilities and expanding market access could be crucial for Bhutan to enhance its economic development and global competitiveness.

Service Exports

Service exports (BoP, current US$): Bhutan's service exports amount to $134,739,948.95, which is significantly below the average of $28,917,292,503.82. Bhutan ranks 148th out of 171 countries in this category.

ICT service exports (BoP, current US$): Bhutan's ICT service exports stand at $1,777,274.19, well below the average of $4,578,501,153.77. Bhutan ranks 159th out of 166 countries in this area.

ICT service exports (% of service exports, BoP): Bhutan's ICT service exports account for 1.32% of its total service exports, much lower than the average of 11.75%. Bhutan ranks 153rd out of 166 countries in this metric.

Communications, computer, etc. (% of service exports, BoP): Bhutan's percentage in this category is 2.73%, significantly below the average of 45.85%. Bhutan ranks 169th out of 169 countries in this segment.

Transport services (% of service exports, BoP): Bhutan's transport services represent 28.35% of its service exports, exceeding the average of 21.80%. Bhutan ranks 52nd out of 169 countries in this field.

Travel services (% of service exports, BoP): Bhutan relies heavily on travel services, constituting 62.63% of its service exports, far above the average of 26.40%. Bhutan ranks 15th out of 167 countries in this aspect.

Insurance and financial services (% of service exports, BoP): Bhutan's insurance and financial services make up 6.28% of its service exports, slightly below the average of 6.46%. Bhutan ranks 54th out of 161 countries in this category.

Summary

Bhutan's key macroeconomic indicators in service exports and ICT service exports highlight its below-average performance compared to global standards. The country ranks relatively low in ICT service exports, communications sector contribution, and ICT service exports as a percentage of total service exports. However, Bhutan excels in travel services, where it ranks significantly higher than the global average, showcasing a potential niche market for the country to further develop and leverage for economic growth.

Commercial Service Exports

Analysis of key statistics for Bhutan in comparison to global averages:

1. Bhutan's Commercial service exports amount to $133,316,092.39, ranking 146th out of 171 countries. This value is significantly below the average of $28,508,218,402.80 for this attribute.

2. Travel services contribute 63.30% to Bhutan's commercial service exports, ranking 17th out of 167 countries. This percentage is notably higher than the average of 27.89%.

3. Computer, communications, and other services constitute only 1.69% of Bhutan's commercial service exports, placing Bhutan at 167th out of 169 countries. This percentage is well below the average of 42.44%.

4. Insurance and financial services contribute 6.35% to Bhutan's commercial service exports, ranking 55th out of 161 countries. This percentage falls slightly below the average of 6.97%.

5. Transport services make up 28.66% of Bhutan's commercial service exports, placing Bhutan at 54th out of 169 countries. This value is higher than the average of 23.37%.

Summary

In comparison to global averages, Bhutan has a relatively low total commercial service exports value. However, the country excels in deriving a significant portion of these exports from travel services, surpassing the global average by a large margin. Conversely, Bhutan lags behind in the contribution of computer, communications, and other services to its exports, indicating room for diversification.

These statistics are crucial as they highlight Bhutan's reliance on travel services for export revenue, showcasing a potential vulnerability to fluctuations in the tourism sector. Encouraging diversification into other service sectors could help bolster Bhutan's overall resilience and competitiveness in the global market.

Broad Import Attributes

1. Bhutan's imports of goods and services amount to $1.08 billion, ranking 145th out of 163 countries. This value is significantly below the average imports of $126.19 billion.

2. Bhutan's imports of goods and services as a percentage of GDP stand at 43.76%, slightly lower than the average of 44.15%. The country ranks 65th out of 163 countries in this aspect.

3. Bhutan's international tourism expenditures account for 4.21% of total imports, higher than the average of 3.98%. This places Bhutan in the 37th position out of 131 countries.

4. Bhutan's goods imports amount to $962.96 million, ranking 150th out of 171 countries. This value is lower than the average imports of $92.01 billion.

5. Bhutan's imports of goods and services (Balance of Payments) are $1.19 billion, ranking 152nd out of 170 countries. This value is notably below the average imports of $120.32 billion.

6. Bhutan's imports of goods, services, and primary income (Balance of Payments) total $1.37 billion, placing the country at the 152nd rank out of 170 countries. This value is significantly below the average imports of $144.51 billion.

Summary

Bhutan's import statistics indicate a relatively low level of economic involvement in terms of importing goods and services compared to other countries. The country's imports of goods and services, both in absolute value and as a percentage of GDP, are below global averages. However, Bhutan's higher spending on international tourism compared to its total imports suggests a specific focus on this sector for economic activity and growth. These indicators are important as they reflect Bhutan's economic openness, trade relationships, and priorities for expenditure, providing insights into the country's overall economic development strategy.

Merchandise Imports

Analysis of Merchandise imports (current US$): Bhutan's merchandise imports amount to $899,000,000, which is significantly below the average of $89,385,605,263. Bhutan ranks 164th out of 190 countries in this attribute.

Analysis of Merchandise imports by the reporting economy, residual (% of total merchandise imports): Bhutan's residual merchandise imports account for 0.33% of its total merchandise imports, much lower than the average of 2.51%. Bhutan ranks 97th out of 180 countries in this attribute.

Summary

Bhutan's merchandise imports are notably low compared to the global average, ranking 164th out of 190 countries. Furthermore, the residual percentage of merchandise imports is also significantly below average, with Bhutan ranking 97th out of 180 countries. These indicators suggest that Bhutan has a more restricted trade volume and reliance on imports compared to the global market, which can impact its economic growth, access to diverse goods, and overall economic resilience.

Service Imports

Bhutan's service imports amount to $225.52 million, ranking 152 out of 171 countries. This is significantly below the average service import value of $27.62 billion.
Communications, computer, etc. represent 46.79% of Bhutan's service imports, slightly above the average of 44.40%. Bhutan ranks 82 out of 169 countries for this attribute.
Transport services contribute to 25.67% of Bhutan's service imports, ranking 101, below the average of 32.90%.
Travel services form a significant portion at 22.02% of Bhutan's service imports, ranking 32 out of 169 countries. This is above the average of 14.14%.
Bhutan's insurance and financial services constitute only 5.53% of service imports, below the average of 8.53%. Bhutan ranks 95 out of 169 countries in this aspect.

Summary

Bhutan's service imports are relatively low compared to the global average, with a significant portion being allocated to communications, computer, etc. services. Although transport services constitute a smaller share, travel services play a more substantial role, indicating a potential focus on tourism. The lower contribution of insurance and financial services suggests room for growth and diversification in Bhutan's service import portfolio. Analyzing these indicators provides crucial insights into Bhutan's trade preferences, economic priorities, and potential areas for development in its service sector.

Commercial Service Imports

- Commercial service imports (current US$): Bhutan's value for commercial service imports is significantly lower than the average, ranking 153 out of 171 countries. This indicates a relatively lower level of commercial service imports compared to other nations.

- Computer, communications and other services (% of commercial service imports): Bhutan's value for this attribute is slightly above the average, ranking 84 out of 169 countries. This suggests that Bhutan allocates a higher proportion of its commercial service imports to computer, communications, and other services compared to many other nations.

- Insurance and financial services (% of commercial service imports): Bhutan's value for insurance and financial services in relation to commercial service imports is below the average, ranking 97 out of 169 countries. This indicates a lower emphasis on insurance and financial services within Bhutan's commercial service imports in comparison to the average of other countries.

- Transport services (% of commercial service imports): Bhutan's value for transport services as a percentage of commercial service imports is below the average, ranking 96 out of 169 countries. This suggests that Bhutan dedicates a smaller portion of its commercial service imports to transport services compared to the average of other nations.

- Travel services (% of commercial service imports): Bhutan's value for travel services as a percentage of commercial service imports is notably above the average, ranking 35 out of 169 countries. This implies that Bhutan places a relatively higher emphasis on travel services within its commercial service imports compared to many other countries.

Summary

Bhutan's macroeconomic indicators reveal a distinctive pattern in its commercial service imports when compared to other countries. Bhutan prioritizes allocating a higher proportion of its commercial service imports to computer, communications, and travel services, which are notably above average, indicating a strategic focus on these sectors. Conversely, Bhutan lags behind in allocating resources to insurance, financial, and transport services, suggesting potential areas for development and improvement in these sectors to enhance overall economic diversification and stability.

Infrastructure

The amount of Air transport freight in Bhutan is 0.51 million ton-km, well below the attribute average of 1384.37 million ton-km. Bhutan ranks 110th out of 126 countries in this category.
Bhutan has 1311 registered carrier departures worldwide, significantly lower than the attribute average of 134365.61 departures. This places Bhutan at a rank of 131 out of 149 countries.
In terms of Air transport passengers carried, Bhutan transported 48825 passengers, far below the attribute average of 11848242.70 passengers. Bhutan ranks 131st out of 149 countries in this aspect.

Summary

Bhutan's air transport freight, carrier departures, and passenger numbers are all significantly below global averages, ranking the country quite low compared to others worldwide. This underlines Bhutan's limited connectivity and relatively small scale of air transport operations. This lack of air transport infrastructure can potentially hinder Bhutan's ability to facilitate international trade, tourism, and overall economic development. Addressing these deficiencies could help Bhutan strengthen its connections with the global economy and enhance economic growth opportunities.

Information Technology Infrastructure

Analysis of Key Statistics for Bhutan:

1. Secure Internet servers:
Bhutan has 527 secure internet servers, which is significantly below the attribute average of 458,294. Bhutan is ranked 132 out of 193 countries in this regard.

2. Secure Internet servers (per 1 million people):
Bhutan has 682.20 secure internet servers per 1 million people, well below the attribute average of 14,067. Bhutan is ranked 86 out of 193 countries in this category.

3. Individuals using the Internet (% of population):
79.87% of Bhutan's population uses the internet, which is above the attribute average of 64.77%. Bhutan is ranked 64 out of 180 countries for this metric.

4. Fixed broadband subscriptions:
Bhutan has 3,189 fixed broadband subscriptions, significantly below the attribute average of 6,591,956. Bhutan is ranked 174 out of 185 countries in this aspect.

5. Mobile cellular subscriptions:
Bhutan has 745,137 mobile cellular subscriptions, far below the attribute average of 42,526,464. Bhutan is ranked 161 out of 193 countries for mobile cellular subscriptions.

Summary

Bhutan demonstrates lower-than-average numbers in key internet-related indicators such as secure internet servers and fixed broadband subscriptions when compared to global averages. However, the percentage of individuals using the internet in Bhutan surpasses the global average, indicating a relatively high level of internet penetration among the population. The lower rankings in secure internet servers and broadband subscriptions could potentially hinder Bhutan's connectivity infrastructure development and access to high-speed internet services, which are crucial for economic growth and participation in the digital economy.

Energy Consumption

Bhutan's renewable energy consumption accounts for 88.39% of its total final energy consumption, significantly higher than the average of 32.18%. This places Bhutan at a commendable 8th rank out of 191 countries included in the data.

On the other hand, Bhutan's CO2 emissions stand at 1035.2 kt, substantially below the average of 171895.94 kt. This places Bhutan at a relatively lower rank of 158 out of 188 countries in the dataset.

Summary

Bhutan demonstrates a strong commitment to sustainability with renewable energy consumption comprising 88.39% of its total final energy consumption, ranking 8th out of 191 countries. However, its relatively low CO2 emissions of 1035.2 kt position it at 158th out of 188 countries. These indicators are crucial as they highlight Bhutan's significant progress in renewable energy adoption and environmental preservation, showcasing its potential as a global leader in sustainable development.

Government Balance Sheet

- Net acquisition of financial assets (% of GDP): Bhutan's value of 3.91% is above the average of 2.45%. It ranks 20th out of 87 countries.
- Central government debt, total (% of GDP): Bhutan's value of 111.01% is above the average of 74.12%. It ranks 9th out of 61 countries.
- Net incurrence of liabilities, total (% of GDP): Bhutan's value of 6.43% is below the average of 7.43%. It ranks 48th out of 92 countries.
- Total reserves (% of total external debt): Bhutan's value of 46.99% is below the average of 66.13%. It ranks 38th out of 102 countries.
- Reserves and related items (BoP, current US$): Bhutan's value of $241,452,261.99 is significantly below the average. It ranks 63rd out of 171 countries.
- Total reserves minus gold (current US$): Bhutan's value of $1,423,132,617.74 is significantly below the average. It ranks 115th out of 161 countries.
- Total reserves (includes gold, current US$): Bhutan's value of $1,426,914,817.74 is significantly below the average. It ranks 117th out of 161 countries.
- Total reserves in months of imports: Bhutan's value of 12.53 is above the average of 7.10. It ranks 19th out of 151 countries.

Summary

Bhutan performs above average in terms of net acquisition of financial assets as a percentage of GDP and total reserves in months of imports, indicating a strong financial position in attracting investments and maintaining import coverage. However, the country's high central government debt and below-average net incurrence of liabilities suggest a relatively high debt burden and a potential challenge in meeting financial obligations in the future.

These indicators are crucial for assessing Bhutan's economic stability and ability to sustain its financial health. A high level of central government debt can strain the country's budget and potentially lead to financial instability, while robust reserves and healthy acquisition of financial assets are essential for attracting investments and managing external economic shocks effectively.

Government Revenue

Summary

Bhutan's macroeconomic indicators reveal a unique fiscal structure compared to global averages. With lower revenue from taxes on goods and services, international trade, and income, Bhutan relies more on grants and other revenue sources. This could signify a higher dependency on external aid and non-tax revenue streams for its budget, impacting its fiscal sustainability and economic autonomy.

Taxes

Summary

Bhutan's tax revenue as a percentage of GDP is below the global average, ranking 91st out of 123 countries. However, they rely more on taxes on income, profits, and capital gains compared to the average. Bhutan also maintains a higher applied tariff rate than the global average. These indicators are crucial as they reflect Bhutan's fiscal policies, trade regulations, and economic competitiveness within the global market.

Government Expenses

For Expense (% of GDP), Bhutan's value of 24.08% is below the average of 31.69%. Bhutan is ranked 83 out of 123 countries for this attribute.

Compensation of employees (% of expense) in Bhutan is at 40.38%, which is above the average of 24.70%. Bhutan is ranked 18 out of 123 countries for this attribute.

Goods and services expense (% of expense) in Bhutan stands at 18.97%, slightly above the average of 14.77%. Bhutan is ranked 32 out of 122 countries for this attribute.

Interest payments (% of expense) in Bhutan are at 1.90%, well below the average of 6.85%. Bhutan is ranked 101 out of 121 countries for this attribute.

Other expense (% of expense) in Bhutan is relatively high at 22.87%, significantly above the average of 8.29%. Bhutan is ranked 5 out of 120 countries for this attribute.

Subsidies and other transfers (% of expense) in Bhutan are at 15.88%, far below the average of 43.29%. Bhutan is ranked 112 out of 121 countries for this attribute.

Summary

Bhutan's macroeconomic indicators show a mixed picture compared to global averages. While the country spends a lower percentage of its GDP compared to the average, it allocates a higher proportion towards compensating employees and other expenses. Notably, Bhutan's interest payments are substantially lower than the average, indicating prudent fiscal management. The high percentage of other expenses suggests a need for further analysis to understand the nature of these expenditures and their impact on the economy.

These findings are important as they provide insights into Bhutan's fiscal priorities and financial health. Understanding how the country allocates its expenses relative to others can help identify areas of strength and weakness, guiding policymakers in making informed decisions to promote sustainable economic growth and stability.

Top Stats

Ranks in Top Decile For:

Attribute	Rank/Total
Population ages 15-64 (% of total population)	18/194
Broad money growth (annual %)	11/139
External debt stocks (% of GNI)	10/120
Travel services (% of service exports, BoP)	15/167
Renewable energy consumption (% of total final energy consumption)	8/191
Other expense (% of expense)	5/120

Ranks in Bottom Decile For:

Attribute	Rank/Total
Age dependency ratio (% of working-age population)	177/194
Capture fisheries production (metric tons)	189/190
Total fisheries production (metric tons)	179/182
Charges for the use of intellectual property, payments (BoP, current US$)	138/143
Charges for the use of intellectual property, receipts (BoP, current US$)	115/122
Final consumption expenditure (current US$)	146/159
General government final consumption expenditure (current US$)	143/158
Household and NPISHs Final consumption expenditure (current US$)	144/158
External debt stocks, private nonguaranteed (PNG) (DOD, current US$)	86/91
Current account balance (% of GDP)	156/170
Merchandise exports by the reporting economy, residual (% of total merchandise exports)	163/166
ICT service exports (BoP, current US$)	159/166
ICT service exports (% of service exports, BoP)	153/166
Communications, computer, etc. (% of service exports, BoP)	169/169
Computer, communications and other services (% of commercial service exports)	167/169
Fixed broadband subscriptions	174/185
Social contributions (% of revenue)	78/81
Other taxes (% of revenue)	96/106
Subsidies and other transfers (% of expense)	112/121