Flag Bhutan

Product Exports (2018): $262M, Rank 170 of 222

Exports Per Capita (2018): $347, Rank 98 of 219

Product Imports (2018): $755M, Rank 179 of 221

Imports Per Capita (2018): $1k, Rank 92 of 219

Service Exports (2017): $164M, Rank 125 of 139

Service Imports (2017): $170M, Rank 128 of 139

GDP (2018): $2.45B, CURRENT US$
Rank 169 of 196

GDP growth (2008 - 2018): 99.3%, CURRENT US$
Rank 31 of 196

GDP PC (2018): $3,243, CURRENT US$
Rank 132 of 196

GDP PC GROWTH (2008 - 2018): 77.4%, CURRENT US$
Rank 26 of 196

Overview: This page contains the latest international trade data for Bhutan, including service trade data. In 2018 Bhutan was the number 169 economy in the world in terms of GDP (current US$), the number 170 in total exports, and the number 179 in total imports. In 2018, Bhutan exported $262M and imported $755M, resulting in a negative trade balance of -$493M. In 2018, Bhutan's exports per capita were $347 and its imports per capita were $1k.

Trade: The top exports of Bhutan are Ferroalloys ($161M), Semi-Finished Iron ($21.1M), Dolomite ($19.8M), Carbides ($14.4M), and Planes, Helicopters, and/or Spacecraft ($8.23M). The top imports of Bhutan are Refined Petroleum ($119M), Delivery Trucks ($54.6M), Iron Reductions ($36.1M), Cars ($31.2M), and Light Synthetic Cotton Fabrics ($21M).

Destinations: Bhutan exports mostly to India ($217M), Italy ($9.92M), Germany ($8.3M), United Kingdom ($8.25M), and France ($3.48M), and imports mostly from India ($651M), Thailand ($39M), China ($12.8M), United Arab Emirates ($9.58M), and Japan ($8.64M).

Location: Bhutan borders China and India by land.

Yearly Exports

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Top Export (2018): Ferroalloys, $161M

Top Destination (2018): India, $217M

In 2018 Bhutan exported a total of $262M, making it the number 170 exporter in the world. During the last five reported years the exports of Bhutan have changed by $112M from $150M in 2013 to $262M in 2018.

The most recent exports are led by Ferroalloys ($161M), Semi-Finished Iron ($21.1M), Dolomite ($19.8M), Carbides ($14.4M), and Planes, Helicopters, and/or Spacecraft ($8.23M). The most common destination for the exports of Bhutan are India ($217M), Italy ($9.92M), Germany ($8.3M), United Kingdom ($8.25M), and France ($3.48M).

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Yearly Imports

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Top Import (2018): Refined Petroleum, $119M

Top Origin (2018): India, $651M

In 2018 Bhutan imported $755M, making it the number 179 trade destination in the world. During the last five reported years the imports of Bhutan changed by $500M from $255M in 2013 to $755M in 2018.

The most recent imports of Bhutan are led by Refined Petroleum ($119M), Delivery Trucks ($54.6M), Iron Reductions ($36.1M), Cars ($31.2M), and Light Synthetic Cotton Fabrics ($21M). The most common import partners for Bhutan are India ($651M), Thailand ($39M), China ($12.8M), United Arab Emirates ($9.58M), and Japan ($8.64M).

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Flow

Fastest Growing Export Markets (2017 - 2018)

Fastest Growing Import Markets (2017 - 2018)

Bhutan Exports Services (2017): $164M

Bhutan Imports Services (2017): $170M

In 2017, Bhutan exported $164M worth of services. The top services exported by Bhutan in 2017 were Personal travel ($88.9M), Air transport ($59.2M), Business travel ($11.3M), Reinsurance ($2.37M), and Other government services ($1.31M).

The top services imported by Bhutan in 2017 were Personal travel ($67.6M), Construction in the compiling economy ($43.3M), Air transport ($23M), Miscellaneous business, professional, and technical services ($15M), and Embassies and consulates ($6.52M).

Trade Forecasts

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This section shows forecasts for total product exports and imports for Bhutan. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.

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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 (2.47k), Carbides (396), Ferroalloys (330), Iron Ingots (119), and Limestone (64.6). 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 Hydrides, nitrides, azides, silicides and borides (1.39), Inorganic acids, non-metal inorganics (0.56), Aircraft, spacecraft, satellites (0.53), Hydraulic turbines, water wheels, regulators thereof (0.43), and Plastic plate, sheet, film not cellular, reinforced (0.43). 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 (0.048), Tropical Fruits (0.045), Wheat Flours (0.044), Spices (0.043), and Raw Aluminium (0.043). 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.

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.