BT
Prices & public finance · South Asia · Lower-middle income
Bhutan: prices, money and public finance
Inflation is 3.6% (2025), 76th of 180 in the world and 3rd of 6 in South Asia. GDP deflator is 3.2% (2025), 110th of 209 in the world and 4th of 6 in South Asia. Lending rate is 11.8% (2025), 46th of 136 in the world and 1st of 5 in South Asia.
Inflation
BhutanSouth AsiaLower-middle incomeWorld
GDP deflator
BhutanSouth AsiaLower-middle incomeWorld
13 indicators
Prices & public finance: Bhutan in detail
Latest reported value, world rank and rank within South Asia; values around 2000, 2010, 2020; group and world columns are World Bank aggregates.
| Indicator | Latest | World rank | In region | ~2000 | ~2010 | ~2020 | 10-year change | Region | Income group | World | Since 2000 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| InflationInflation, consumer prices, annual % | 3.6%2025 | 76/180 | 3/6 | 4.0% | 7.0% | 5.6% | −1.0 ppsince 2015 | 3.1% | 3.6% | 3.0% | |
| GDP deflatorInflation, GDP deflator, annual % | 3.2%2025 | 110/209 | 4/6 | 16.5% | 8.3% | 5.3% | −0.1 ppsince 2015 | 3.2% | 5.0% | 3.3% | |
| Lending rateLending interest rate, % | 11.8%2025 | 46/136 | 1/5 | 16.0% | 13.9% | 14.0% | −3.1 ppsince 2015 | — | — | — | |
| Real interest rateReal interest rate, % | 8.3%2025 | 31/136 | 1/5 | -0.5% | 5.2% | 8.3% | −3.0 ppsince 2015 | — | — | — | |
| Exchange rateOfficial exchange rate, local currency per US$ | 87.162025 | 68/210 | 4/6 | 44.94 | 45.73 | 74.10 | +36%since 2015 | — | — | — | |
| Tax revenueTax revenue, % of GDP | 12.3%2020 | 105/142 | 3/6 | 9.5% | 12.2% | 12.3% | +0.1 ppsince 2010 | 6.9% | 12.1% | 13.9% | |
| Government revenueGovernment revenue excluding grants, % of GDP | 20.0%2020 | 95/142 | 2/6 | 21.8% | 19.9% | 20.0% | +0.1 ppsince 2010 | 9.3% | 14.2% | 24.0% | |
| Government expenseGovernment expense, % of GDP | 24.1%2020 | 85/142 | 2/6 | 18.3% | 20.1% | 24.1% | +3.9 ppsince 2010 | 13.8% | 15.7% | 28.5% | |
| Government debtCentral government debt, % of GDP | 111.0%2020 | 6/78 | 1/5 | 37.3% | 50.9% | 111.0% | +60.1 ppsince 2010 | 46.6% | — | — | |
| External debtExternal debt stocks, % of GNI | 114.5%2023 | 8/119 | 1/6 | 46.0% | 57.7% | 139.8% | +25.1 ppsince 2013 | 20.0% | 30.1% | — | |
| Private creditDomestic credit to private sector, % of GDP | 71.6%2025 | 39/169 | 2/5 | 8.4% | 38.5% | 67.6% | +29.1 ppsince 2015 | 43.5% | 38.7% | 140.3% | |
| Broad moneyBroad money, % of GDP | 83.3%2024 | 36/146 | 2/5 | 48.0% | 66.5% | 95.0% | +24.6 ppsince 2014 | 79.6% | 67.4% | 135.7% | |
| Reserves, months of importsTotal reserves in months of imports | 6.62024 | 41/165 | 3/6 | · | 11.7 | 12.5 | −44%since 2014 | 7.9 | 7.7 | 8.6 |
Source: World Bank, World Development Indicators (CC BY 4.0)“·” — no value reported within two years of that date. World rank counts countries with a recent value.
Better than ten years ago
- Inflation−1.0 pp3.6% in 2025
Worse than ten years ago
- Government debt+60.1 pp111.0% in 2020
- External debt+25.1 pp114.5% in 2023
- Reserves, months of imports−44%6.6 in 2024
Only indicators where higher or lower is clearly better are rated (for example, unemployment down is better, life expectancy up is better).
neighbours
Bhutan and its neighbours
Countries sharing a land border with Bhutan. Latest values since 2005; the highest in each row is marked.
| Indicator | Bhutan | India | China |
|---|---|---|---|
| Inflation | 3.6%2025 | 2.4%2025 | 0.1%2025 |
| GDP deflator | 3.2%2025 | 1.0%2025 | -0.9%2025 |
| Lending rate | 11.8%2025 | 8.6%2022 | 4.3%2024 |
| Real interest rate | 8.3%2025 | 5.6%2022 | 5.2%2024 |
| Exchange rate | 87.162025 | 87.162025 | 7.192025 |
| Tax revenue | 12.3%2020 | 6.9%2022 | 7.0%2024 |
| Government revenue | 20.0%2020 | 9.4%2022 | 14.9%2024 |
| Government expense | 24.1%2020 | 13.7%2022 | — |
| Government debt | 111.0%2020 | 46.5%2018 | — |