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Tshultrim Zangpoadmin

The National Statistics Bureau is pleased to release the National Accounts Statistics 2024. The key highlights are as given below: 

  • Gross Domestic Product (GDP)

The economy grew by 7.50 percent in 2024.  The size of the economy grew from Nu. 248.86 billion in 2023 to Nu. 280.00 billion, noting an increase of Nu. 31.14 billion.  This is equivalent to USD 3,299.84 million in 2024, from USD 3,012.78 million in 2023. Key sectors that contributed to the growth include:

  1. Hotels & Restaurants – grew by 32.90 percent.
  2. Public Administration – grew by 13.10 percent.
  3. Electricity– grew by 10.92 percent.
  • Structure of the Economy

Among the three broad economic sectors: 

  1. The tertiary sector recorded the highest share of the economy with 54.18 percent. 
  2. Secondary sector with 31.67 percent, and 
  3. Primary sector with 14.15 percent. 

These shifts indicate the growing prominence of the services sector in the economy.

2.1. Primary Sector

The primary sector experienced a growth of 3.73 percent after recording 1.37 percent in 2023. The total Gross Value Added (GVA) of the primary sector in 2024 recorded Nu. 39,618.48 million.

 2.2. Secondary Sector 

The secondary sector recorded a 6.96 percent growth in 2024 from a contraction of -0.79 percent in 2023. The sector’s contribution to the overall GDP growth was 2.12 percentage points. Among the sub-sectors, the construction and electricity sub-sectors were the main drivers of the growth. The total Gross Value Added (GVA) of the secondary sector was estimated at Nu. 88,682.47 million.

2.3. Tertiary Sector 

The Tertiary sector registered 8.63 percent growth in 2024, up from 8.59 percent in the previous year, contributing 4.90 percentage points to the overall GDP growth. The sector recorded a GVA of Nu 151,706.98 million in 2024. 

3. GDP by Expenditure

In terms of the GDP by expenditure, the Final Consumption Expenditure (FCE), consisting of Household and Government final consumption expenditure as mentioned below, grew by 1.47 percent in 2024. 

  • Final Consumption Expenditure (FCE): Grew by 1.47 percent.
  • Household Final Consumption: Contracted by 2.14 percent.
      1. Government Final Consumption: Grew by 10.50 percent.
      2. Export of Goods and Services: Increased by 19.33 percent.
  • Import of Goods and Services: Increased by 4.09 percent.
  1. Gross Domestic Capital Formation (GFCF): Increased by 5.33 percent.

4. Gross National Income (GNI)

GNI for the year 2024 was estimated at Nu 264,053.03 million as compared to Nu 323,083.02 million in 2023, an increase of Nu 28,920.30 million

5. Per Capita GDP 

GDP per Capita in 2024 increased to Nu 360,266.72 (USD 4,245.68) from Nu 323,083.02 (USD 3,911.29) in 2023.

6. National Saving and Investment

Gross National Savings recorded Nu. 70,465.59 million in 2024, an increase of Nu 21,369.5 million from Nu 49,096.09 million in 2023.

  1. Government Savings: Deficit of Nu 15,593.76 million.
  2. Private Savings (households, private, and public corporations): Amounted to Nu 86,059.35 million.

The Saving Investment ratio was recorded at 0.59, indicating that gross national savings financed only 59 percent of the total domestic investment in 2024. 

For the detailed report, please visit our office website at: http://www.nsb.gov.bt/publications/national-account-report.

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In 2024, Bhutan’s economy grew by 7.50 percent, with GDP reaching Nu. 280.00 billion (USD 3,299.84 million). Growth was led by Hotels and Restaurants, Public Administration, and Electricity. The services sector dominated the economy, followed by industry and agriculture.