Overview In 2019 Bhutan was the number 162 economy in the world in terms of GDP (current US$), the number 177 in total exports, the number 185 in total imports, the number 128 economy in terms of GDP per capita (current US$) and the number null most complex economy according to the Economic Complexity Index (ECI).

Exports The top exports of Bhutan are Ferroalloys ($137M), Dolomite ($25.3M), Semi-Finished Iron ($22.2M), Cement ($14.8M), and Carbides ($9.76M), exporting mostly to India ($234M), Italy ($5.38M), Turkey ($1.39M), Germany ($1.26M), and Singapore ($1.23M).

Imports The top imports of Bhutan are Refined Petroleum ($144M), Iron Reductions ($46.7M), Delivery Trucks ($30.5M), Cars ($28.2M), and Wood Charcoal ($24.9M), importing mostly from India ($694M), Thailand ($41.5M), France ($19.3M), United Arab Emirates ($11.9M), and China ($10.7M).

Location Bhutan borders China and India by land.

Historical Data

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Yearly Exports

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Top Export (2019): Ferroalloys, $137M

Top Destination (2019): India, $234M

In 2019, Bhutan exported a total of $250M, making it the number 177 exporter in the world. During the last five reported years the exports of Bhutan have changed by $81.6M from $168M in 2014 to $250M in 2019.

The most recent exports are led by Ferroalloys ($137M), Dolomite ($25.3M), Semi-Finished Iron ($22.2M), Cement ($14.8M), and Carbides ($9.76M). The most common destination for the exports of Bhutan are India ($234M), Italy ($5.38M), Turkey ($1.39M), Germany ($1.26M), and Singapore ($1.23M).

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Yearly Imports

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Top Import (2019): Refined Petroleum, $144M

Top Origin (2019): India, $694M

In 2019 Bhutan imported $819M, making it the number 185 trade destination in the world. During the last five reported years the imports of Bhutan changed by $580M from $240M in 2014 to $819M in 2019.

The most recent imports of Bhutan are led by Refined Petroleum ($144M), Iron Reductions ($46.7M), Delivery Trucks ($30.5M), Cars ($28.2M), and Wood Charcoal ($24.9M). The most common import partners for Bhutan are India ($694M), Thailand ($41.5M), France ($19.3M), United Arab Emirates ($11.9M), and China ($10.7M).

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Flow

Fastest Growing Export Markets (2018 - 2019)

Fastest Growing Import Markets (2018 - 2019)

Bhutan Exports Services (2019): $168M

Bhutan Imports Services (2019): $228M

In 2019, Bhutan exported $168M worth of services. The top services exported by Bhutan in 2019 were Personal travel ($111M), Transportation ($38.3M), Business travel ($9M), Financial services ($3.61M), and Insurance services ($2.61M).

The top services imported by Bhutan in 2019 were Personal travel ($62.2M), Construction services ($54.8M), Transportation ($54.3M), Other business services ($18.2M), and Government services, n.i.e. ($10.4M).

Economic Complexity

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Most Specialized Products by RCA Index

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Bhutan has a high level of specialization in Dolomite (3.43k), Carbides (354), Gypsum (341), Ferroalloys (322), and Nutmeg, mace and cardamons (268). Specialization is measured using RCA, an index that takes the ratio between Bhutan observed and expected exports in each product.

Most Complex Products by PCI

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The highest complexity exports of Bhutan according to the product complexity index (PCI) are Machine-tools for shaping metals, nes (2.03), Electric motors and generators, except generating sets (0.87), Plastic plate, sheet, film not cellular, reinforced (0.52), Inorganic acids, non-metal inorganics (0.51), and Derricks, cranes, straddle carriers, crane trucks (0.3). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

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The top export opportunities for Bhutan according to the relatedness index, are Crude Petroleum (0.055), Tropical Fruits (0.055), Wheat Flours (0.053), Bran (0.053), and Melons (0.052). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Bhutan is not specialized in.

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.

Relatedness Space

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This network shows the products most related to the production structure of Bhutan. These are products that tend to be co-exported with the products that Bhutan exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Diversification Frontier

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The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.