The Bhutanese Leading the way.
The country’s international trade volume saw a modest increase in 2024, with exports rising by over Nu 7 billion (bn), a 19.6% increase and imports growing by nearly Nu 9 bn, 8.3% increase compared to the previous year. India continues to be Bhutan’s largest trading partner, accounting for the majority of both exports and imports.
According to trade statistics, Bhutan exported goods worth approximately Nu 43.3 bn in 2024, up from Nu 36.2 bn in 2023, marking an overall 19.6% increase. Exports to India rose from Nu 27.9 bn to Nu 31.3 bn, a 12.0% increase, while exports to countries other than India increased from Nu 8.3 bn to Nu 12 bn, showing a 44.6% increase, indicating growth in non-traditional markets.
On the import side, total imports reached Nu 115.2 bn in 2024, compared to Nu 106.5 bn in 2023, reflecting an 8.3% increase. Imports from India rose from Nu 85.1 bn to Nu 95.3 bn, a 12.0% increase, while imports from other countries slightly declined from Nu 21.4 bn to Nu 19.8 bn, a 7.5% decrease.
India continues to dominate as Bhutan’s largest export partner, accounting for 72.3% of Bhutan’s total exports in both years. The exports to India increased by 12.0%, growing from Nu 27.9 bn in 2023 to Nu 31.3 bn in 2024.
Bangladesh has seen a significant export rise, increasing by 26.0%, from Nu 5.03 bn in 2023 to Nu 6.35 bn in 2024.
Italy, which ranked third in 2023, saw a sharp decline in exports by 83.4%, dropping from Nu 1.53 bn to Nu 0.25 bn in 2024.
Nepal saw a slight decline in its share of Bhutan’s exports, with a 4.2% decrease, from Nu 0.71 bn to Nu 0.68 bn in 2024.
China, which was a part of the 2023 ranking, has been excluded in 2024.
Exports to Singapore increased from Nu 19 million (mn) in 2023 to Nu. 2.71 bn in 2024, highlighting a 86.3% increase in exports.
Exports to South Korea rose by over 50%, from Nu 260.77 mn in 2023 to Nu. 1.2 bn in 2024.
