External balance on goods and services as a percent of GDP in Bhutan
Bhutan: External balance on goods and services as a percent of GDP was -16.4% in 2024. ▲ Rising
External balance on goods and services as a percent of GDP in Bhutan, 1980–2024
Source: National statistical organizations and central banks, OECD national accounts, and World Bank staff estimates (2026) – processed by Our World in Data. Measured in % of GDP.
Analysis
Bhutan recorded -16.4% for external balance on goods and services as a percent of gdp in 2024.
The figure is up 34.4% on the previous year and up 16.3% over ten years.
Over the whole period, external balance on goods and services as a percent of gdp in Bhutan peaked at -2.2% in 2007 and was at its lowest, -38.1%, in 1985.
That places Bhutan 152nd out of 191 countries with data for 2024, putting it in the bottom quarter.
The long-run direction has been consistently rising across the 45 years of available data.
External balance on goods and services as a percent of GDP in Bhutan, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1980 | -25.4% | — |
| 1981 | -34.3% | +35.3% |
| 1982 | -35.8% | +4.4% |
| 1983 | -35.6% | -0.5% |
| 1984 | -34.0% | -4.7% |
| 1985 | -38.1% | +12.2% |
| 1986 | -36.6% | -3.9% |
| 1987 | -15.2% | -58.6% |
| 1988 | -21.9% | +44.7% |
| 1989 | -10.3% | -52.9% |
| 1990 | -5.3% | -48.8% |
| 1991 | -9.1% | +71.1% |
| 1992 | -25.0% | +175.8% |
| 1993 | -13.0% | -47.8% |
| 1994 | -10.3% | -20.6% |
| 1995 | -5.1% | -51.0% |
| 1996 | -10.6% | +109.3% |
| 1997 | -10.6% | -0.1% |
| 1998 | -16.9% | +59.5% |
| 1999 | -20.6% | +21.5% |
| 2000 | -18.0% | -12.3% |
| 2001 | -20.6% | +14.4% |
| 2002 | -24.4% | +18.6% |
| 2003 | -24.1% | -1.3% |
| 2004 | -29.8% | +23.3% |
| 2005 | -24.9% | -16.2% |
| 2006 | -4.5% | -81.8% |
| 2007 | -2.2% | -51.1% |
| 2008 | -8.8% | +295.4% |
| 2009 | -16.6% | +89.9% |
| 2010 | -26.2% | +57.8% |
| 2011 | -26.9% | +2.7% |
| 2012 | -22.5% | -16.6% |
| 2013 | -20.2% | -10.2% |
| 2014 | -19.6% | -3.1% |
| 2015 | -26.6% | +35.9% |
| 2016 | -22.1% | -16.7% |
| 2017 | -19.9% | -10.1% |
| 2018 | -21.4% | +7.4% |
| 2019 | -13.2% | -38.2% |
| 2020 | -15.7% | +18.9% |
| 2021 | -19.2% | +22.2% |
| 2022 | -34.6% | +80.2% |
| 2023 | -25.0% | -27.8% |
| 2024 | -16.4% | -34.4% |
Bhutan compared with similar countries
- Bhutan's -16.4% is below the median for lower middle income countries, which is -9.2%, 1.8× the median. (45 countries reporting)
- Bhutan's -16.4% is below the median for South Asia, which is -4.8%, 3.4× the median. (6 countries reporting)
Biggest year-on-year movements
Years where External balance on goods and services as a percent of GDP in Bhutan changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 2008 | -295.4% | -2.2% | -8.8% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1980s | -28.7% | -38.1% | -10.3% | 10 |
| 1990s | -12.6% | -25.0% | -5.1% | 10 |
| 2000s | -17.4% | -29.8% | -2.2% | 10 |
| 2010s | -21.9% | -26.9% | -13.2% | 10 |
| 2020s | -22.2% | -34.6% | -15.7% | 5 |
Countries ranked near Bhutan
More economy & growth data for Bhutan
- Real gdp growth, annual growth rate 24.04 % change on previous year (2024)
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 4.5 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 5.11 Percent per annum (2029)
- SDRs holdings, US dollar, annual growth rate 5.62 % change on previous year (2025)
- SDRs holdings, US dollar, per unit of GDP 0.01 units per US$ of GDP (2025)
- SDRs holdings, US dollar, per capita 45.07 units per person (2025)
- SDRs holdings, SDR, annual growth rate 0.5765 % change on previous year (2025)
- SDRs holdings, SDR, per unit of GDP 0.0073 units per US$ of GDP (2025)
- SDRs holdings, SDR, per capita 32.91 units per person (2025)
- IMF holdings of currency, US dollar, annual growth rate 5.01 % change on previous year (2025)
Frequently asked questions
- What is external balance on goods and services as a percent of gdp in Bhutan?
- External balance on goods and services as a percent of gdp in Bhutan was -16.4% in 2024, according to National statistical organizations and central banks, OECD national accounts, and World Bank staff estimates (2026) – processed by Our World in Data.
- What is the highest external balance on goods and services as a percent of gdp recorded in Bhutan?
- The highest recorded value was -2.2% in 2007.
- What is the lowest external balance on goods and services as a percent of gdp recorded in Bhutan?
- The lowest recorded value was -38.1% in 1985.
- How does Bhutan rank for external balance on goods and services as a percent of gdp?
- Bhutan ranks 152nd out of 191 countries with data for 2024.
- Is external balance on goods and services as a percent of gdp rising or falling in Bhutan?
- Over the last ten years it is up 16.3%. The long-run trend across the full record is rising.
- Where does this Bhutan data come from?
- The figures come from National statistical organizations and central banks, OECD national accounts, and World Bank staff estimates (2026) – processed by Our World in Data, published as part of External balance on goods and services as a percent of GDP. Statizoid updates them automatically from the source API.
Download this data
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About this data
Exports of goods and services minus imports of goods and services divided by gross domestic product, expressed as a percentage.