Bhutan: economy

What is the inflation rate in Bhutan?

Bhutan's headline inflation was 5.51% in August 2026 compared with a year earlier, down from the previous month, according to the National Statistics Bureau CPI report released on 30 September 2026. Food inflation was 5.10% and non-food inflation 6.02%. Prices rose 0.30% from July.

Average inflation for January to August 2026 was 6.38%. Within non-food, the housing and utilities index rose 10.88% and transport 10.63%; within food, alcoholic beverages and betel nuts rose 20.25%. The bureau also reports the purchasing power of the ngultrum, which stood at Nu 51.4 against December 2012 prices. Monthly reports are on its CPI page.

Official sources: NSB: CPI report August 2026 (PDF) · NSB: monthly consumer price index

What is Bhutan's GDP growth rate?

Bhutan's GDP grew 6.46% in real terms in the second quarter of 2026 compared with a year earlier, according to the National Statistics Bureau quarterly GDP report. Industry grew 10.31% and services 5.56%, while agriculture contracted 0.61%. GDP at current prices was Nu 91,262.79 million for the quarter.

For whole years, the Ministry of Finance's National Budget Report 2026-27 gives growth of 7.5% in 2024, an estimated 8% in 2025, and a projection of 6.3% for 2026. Quarterly figures are measured at constant 2017 prices and are revised when annual accounts are compiled.

Official sources: NSB: quarterly GDP Q2 2026 (PDF) · Ministry of Finance: National Budget Report 2026-27 (PDF)

How many tourists visit Bhutan?

Bhutan recorded 209,376 tourist arrivals in 2025, according to the Statistical Yearbook of Bhutan 2025 from the National Statistics Bureau. The yearbook's tourism chapter breaks arrivals down by nationality, region, month and season, with foreign exchange earnings.

The total counts all tourist arrivals, including visitors from India and other regional countries, who are counted separately from international tourists in the detailed tables. The Ministry of Finance's budget report notes a gradual recovery in tourism and related services as one driver of growth over the medium term.

Official sources: NSB: Statistical Yearbook of Bhutan 2025 (PDF)

What is Bhutan's current account deficit?

Bhutan's current account deficit narrowed to 16.8% of GDP in the 2024-25 financial year, from 21.4% in 2023-24, according to the Ministry of Finance's National Budget Report 2026-27. It is projected to widen to 20.1% of GDP in 2025-26 and narrow to 16.7% in 2026-27.

The report says imports are expected to peak at 70.5% of GDP in 2026, mainly because of higher fuel prices, while exports rise to 51.4% of GDP. The Statistical Yearbook puts the 2025 trade balance at minus Nu 141,402 million.

Official sources: Ministry of Finance: National Budget Report 2026-27 (PDF) · NSB: Statistical Yearbook of Bhutan 2025 (PDF)

Is Bhutan's economy growing?

The World Bank puts real GDP growth in Bhutan at 8.0% in 2025. Since 2005 it has ranged from -10.2% (2020) to 16.1% (2007). Across South Asia the middle value was 5.6%, and Bhutan placed 1st highest of 6. World rank, highest first: 11th of 180.

How rich is Bhutan per person?

According to the World Bank, GDP per person in Bhutan was $4,493 in 2025. It is the top of the series, which starts in 2005. It is 3rd highest of 6 in South Asia, where the median is $3,598. World rank, highest first: 118th of 180.

How does Bhutan's income per person compare after prices?

According to the World Bank, GDP per person at purchasing power parity in Bhutan was $19,594 in international dollars in 2025. That is the highest since at least 2005. Across South Asia the middle value was $14,406 in international dollars, and Bhutan placed 2nd highest of 6. World rank, highest first: 93rd of 179.

How big are Bhutan's exports?

The World Bank puts exports of goods and services in Bhutan at 31.5% of GDP in 2024. Since 2005 it has ranged from 25.5% of GDP (2022) to 52.4% of GDP (2007). It is 2nd highest of 6 in South Asia, where the median is 20.9% of GDP. Of 162 countries with 2024 data, 93rd highest.

Does Bhutan have a current account surplus or deficit?

According to the IMF, the current account balance in Bhutan was -19.4% of GDP in 2024, which is a deficit. Its high point since 2006 was 2007, at 6.8% of GDP; its low point was 2023, at -33.9% of GDP. South Asia median: -0.8% of GDP; Bhutan is 6th highest of 6. Worldwide: 158th of 162.

How much foreign investment does Bhutan receive?

In 2025, net inflows of foreign direct investment in Bhutan was 0.2% of GDP, according to the IMF. Its high point since 2005 was 2007, at 5.9% of GDP; its low point was 2017, at -0.6% of GDP. Across South Asia the middle value was 0.7% of GDP, and Bhutan placed 5th highest of 6. Of 179 countries with 2025 data, 154th highest.

What are bank lending rates in Bhutan?

The latest figure from the IMF, for 2025, is 11.8%. Since 2005 it has ranged from 10.5% (2024) to 14.9% (2015). Of 73 countries with 2025 data, 25th highest.