Bhutan’s Gross Domestic Product dropped to Nu. 171.57 billion in 2020 from Nu. 178.56 billion in 2019 which is a contraction of Nu. 6.99 billion. The GDP recorded a negative growth of (10.08) percent in 2020 compared to growth of 5.75 percent in 2019. Similarly, the Gross National Income (GNI) of the economy contracted by (7.23) percent, a drop of 12.92 percentage points.
Amongst the major economic sectors, the industry sector recorded the highest drop at negative (13.10) percent followed by the Service sector at negative (10.74) percent while the Primary sector recorded growth at 4.57 percent in 2020 compared to 2019.
As a share of the economy, the service sector had the highest share at 46.36 percent followed by the secondary sector at 34.41 percent and the primary sector with 19.23 percent.
On the demand side, the Government Final Consumption Expenditure (GFCE) posted a growth of 4.10 percent, however, Household Final Consumption Expenditure declined by negative (7.95) percent, along with Gross Capital Formation (GFC) at negative (14.27) percent; Export at negative (20.22) percent; and import at negative (12.38) percent compared to 2019.
With a total population of 748,931 as per the Population Projection 2017–2047 (National), the GDP per capita for 2020 was estimated at Nu. 229,090.40 (the US $ 3,129.86), which is a drop of USD$ 288.96 from the previous year.