Topic
World
Business | Asia
| Asia
Business |  Bhutan
Economy - overview:
The economy, one of the world's smallest
and least developed, is based on agriculture and forestry, which provide
the main livelihood for more than 90% of the population. Agriculture consists
largely of subsistence farming and animal husbandry. Rugged mountains dominate
the terrain and make the building of roads and other infrastructure difficult
and expensive. The economy is closely aligned with India's through strong
trade and monetary links and dependence on India's financial assistance.
The industrial sector is technologically backward, with most production
of the cottage industry type. Most development projects, such as road construction,
rely on Indian migrant labor. Bhutan's hydropower potential and its attraction
for tourists are key resources. Model education, social, and environment
programs are underway with support from multilateral development organizations.
Each economic program takes into account the government's desire to protect
the country's environment and cultural traditions. For example, the government,
in its cautious expansion of the tourist sector, encourages visits by upscale,
environmentally conscientious tourists. Detailed controls and uncertain
policies in areas like industrial licensing, trade, labor, and finance
continue to hamper foreign investment.
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Accommodations
Asia
Hotels, Motels, and Inns
Agriculture - Products
rice, corn, root crops, citrus, foodgrains;
dairy products, eggs
Airlines
Airlines
in Asia
Airlines
Worldwide
Airports
Airports
in Asia
Airports
Worldwide
Country Budget
revenues: $146 million
expenditures: $152 million, including
capital expenditures of NA
note: the government of India finances
nearly three-fifths of Bhutan's budget expenditures (FY95/96 est.)
Currency (code): ngultrum (BTN);
Indian rupee (INR)
Currency Exchange Rates
ngultrum per US dollar - 45.317 (2004),
46.583 (2003), 48.61 (2002), 47.186 (2001), 44.942 (2000)
Fiscal Year: 1 July - 30 June
GDP (Gross Domestic Product)
GDP (purchasing power parity):
$2.9 billion (2003 est.)
GDP - real growth rate: 5.3%
(2003 est.)
GDP - per capita: purchasing
power parity - $1,400 (2003 est.)
GDP - composition by sector:
agriculture: 45%
industry: 10%
services: 45% (2002 est.)
Imports / Exports
Exports: $154 million f.o.b.
(2000 est.)
Exports - commodities: electricity
(to India), cardamom, gypsum, timber, handicrafts, cement, fruit, precious
stones, spices
Exports - partners: Bangladesh
47.4%, Japan 30.2%, France 3.4% (2004)
Imports: $196 million c.i.f.
(2000 est.)
Imports - commodities: fuel
and lubricants, grain, machinery and parts, vehicles, fabrics, rice
Imports - partners: Germany
65.4%, Japan 14.3%, Austria 6.8%, UK 4.5% (2004)
Industries
cement, wood products, processed
fruits, alcoholic beverages, calcium carbide
Investing
Forex,
Foreign Exchange Market: Currency Trading
Labor Force & Unemployment Rate
Labor force: NA
Labor force - by occupation:
agriculture 93%, industry and commerce 2%, services 5%
Unemployment rate: a
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