This page has economic forecasts for Bhutan including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Bhutan economy.


Overview Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Unemployment Rate 2.50 2.4 2.4 2.4 2.4 2.5 percent
Inflation Rate 1.40 4.2 3.8 4.3 4.5 4.8 percent
Interest Rate 6.00 6 6 6 6 6 percent
Balance of Trade -9979.30 -6600 -8900 -10100 -8300 -9000 BTN Million
Government Debt to GDP 108.64 124 110 110 110 100 percent
MARKETS Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Currency 72.86
 73.23 73.53 73.85 74.15 75.41
GDP Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
GDP Annual Growth Rate 8.00
percent		 5.8 4.9 4.9 4.9 6.9
GDP 2.51
USD Billion		 2.7 2.9 2.9 2.9 3.1
GDP per capita 2955.81
USD		 3009 3106 3106 3106 3232
GDP per capita PPP 8708.60
USD		 8914 9152 9152 9152 9502
GDP From Agriculture 7786.00
BTN Million		 7990 8300 8300 8300 8800
GDP From Construction 9979.70
BTN Million		 11200 12500 12500 12500 13400
GDP From Manufacturing 5452.90
BTN Million		 5680 5800 5800 5800 5950
GDP From Mining 1927.30
BTN Million		 2100 2350 2350 2350 2600
GDP From Public Administration 4052.30
BTN Million		 4250 4500 4500 4500 4700
GDP From Services 25466.30
BTN Million		 27500 29800 29800 29800 31000
GDP From Transport 6563.90
BTN Million		 7100 7650 7650 7650 8000
GDP From Utilities 10469.30
BTN Million		 10700 10950 10950 10950 11200
LABOUR Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Unemployment Rate 2.50
percent		 2.4 2.4 2.4 2.4 2.5
Population 0.81
Million		 0.82 0.83 0.83 0.83 0.84
PRICES Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Inflation Rate 1.40
percent		 4.2 3.8 4.3 4.5 4.8
Producer Prices 126.10
Index Points		 128 133 135 135 144
Producer Prices Change 4.40
percent		 6.8 7.1 6.7 6.8 7.1
Consumer Price Index Cpi 136.20
Index Points		 141 141 141 145 155
Food Inflation 2.70
percent		 7.1 4.74 6.6 6.9 6.5
Inflation Rate Mom 0.40
percent		 1.7 0 0.1 2.6 1.5
MONEY Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Interest Rate 6.00
percent		 6 6 6 6 6
Deposit Interest Rate 4.00
percent		 4 4 4 4 4
Money Supply M1 65585.60
BTN Million		 63766 66798 66490 68060 69825
Money Supply M2 114041.40
BTN Million		 110500 111900 114000 115300 121000
Foreign Exchange Reserves 1110.90
USD Million		 1020 1027 1022 1019 1078
TRADE Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Balance of Trade -9979.30
BTN Million		 -6600 -8900 -10100 -8300 -9000
Exports 7329.20
BTN Million		 10100 8200 7500 9550 10500
Imports 17308.50
BTN Million		 16700 17100 17600 17850 19500
Current Account -36341.50
BTN Million 		-35000 -32500 -32500 -32500 -29500
Current Account to GDP -24.44
percent		 -23.5 -18.8 -18.8 -18.8 -14.3
Tourism Revenues 3.10
USD Million		 7.4 10.9 8.6 6.1 6.74
Terrorism Index 0.04
 0.04 0.04 0.04 0.04 0.04
Tourist Arrivals 3301.00
 2105 1301 1430 1897 4800
Foreign Direct Investment 23.80
BTN Million		 51.7 50.8 45.2 50.2 84.5
External Debt 2505.40
USD Million		 2670 2920 2920 2920 3200
GOVERNMENT Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Government Debt to GDP 108.64
percent		 124 110 110 110 100
Government Budget -4.10
percent of GDP		 -2.4 -1.1 -1.1 -1.1 -0.3
Fiscal Expenditure 54380.40
BTN Million		 57300 59900 59900 59900 61700
Government Budget Value -6490.40
BTN Million		 -1122 1736 1736 1736 -2831
Government Revenues 47890.10
BTN Million		 48500 50400 50400 50400 52140
BUSINESS Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Internet Speed 3426.37
KBps		 3780 3900 3991 4066 4500
IP Addresses 3582.00
IP		 3707 3714 3728 3740 3787
Ease of Doing Business 81.00
 77 81 81 81 85
Competitiveness Index 4.10
Points		 4.6 4.6 4.6 4.6 7.1
Competitiveness Rank 82.00
 82 82 82 82 82
Corruption Index 67.00
Points		 67 67 67 67 67
Corruption Rank 26.00
 26 26 26 26 26
CONSUMER Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Private Sector Credit 15.40
BTN Million		 15.7 16.2 16.2 16.2 15.5
TAXES Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Sales Tax Rate 50.00
percent		 50 50 50 50 50
CLIMATE Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Temperature 18.37
celsius		 8.67 6.27 13.31 11.6 12.1



Bhutan - Economic Forecasts - 2018-2020 Outlook