Country export capability

Bhutan
export capability

A reported view of Bhutan's export scale, destination network, sector breadth, trade history, and market-access context. Use the indicators together; no single measure describes export readiness on its own.

BTN1995-2024 coverage270 active partner marketsMacro trend resilient
Latest exports$308.7M2024 reported value
Latest imports$1.5B2024 reported value
Trade balance-$1.1BExports minus imports
Export growth-40.5%Latest year-on-year change
Active partners270Latest reported markets

Country export profile overview

Bhutan export data in one research view

This profile brings together export performance, trade balance, destination markets, HS2 sectors, partner breadth, history, and market-access context for country export research.

Export scale and balance

Start with the latest reported trade position

In 2024, Bhutan recorded $308.7M in exports and $1.5B in imports. The resulting -$1.1B trade balance gives the latest country-level position a clear context.

Exports changed -40.5% year on year and show a calculated +15% three-year CAGR. CAGR is an annualized comparison of reported values, not a forecast.

Markets and sectors

See where export value is concentrated

India received $282.8M in reported exports, representing 91.6% of the latest country total. Iron and steel was the largest displayed HS2 export sector at $125.4M and 40.6% of exports.

The visible page highlights five leading destinations and five leading HS2 sectors, while the complete structured files retain every row supplied for this sample.

History and coverage

Read today's number against the long series

The country series covers 1995 through 2024, with 30 observed annual rows. That longer view helps separate a single-year movement from the broader export trend.

Partner counts, tariff context, concentration, exposure shares, and momentum are supporting indicators calculated from available trade observations. Missing values remain unavailable rather than estimated.

Economy and structure

The context around Bhutan's export base

Macroeconomic and structural indicators add context to merchandise trade scale. They describe the country environment; they do not predict company performance or future exports.

GDP$3.0B2024 macro context
GDP per capita$3.8KCurrent-dollar GDP
Population791.5KReported population
Labor force416.8Reported labor force
Investment rate55.2%National investment rate
Savings rate32.2%National savings rate
Trade openness34.2%Exports + imports / GDP
Exports / GDP6%Merchandise exports / GDP
Secondary education57.9%Education context
Tertiary education9%Education context

Market signals

Where to look more closely next

Route-level risk and emerging-corridor signals for further research. These are calculated indicators, not forecasts.

Destination risk contextAll covered routes
Destination risk context for Bhutan
DestinationAttentionAttention shareBelow peakApplied tariffPrimary reason
IndiaINDHigh attention62.7%33.6%50%Buyer-market concentration is the largest observed corridor exposure
Republic of KoreaKORHigh attention100%0%13.3%Buyer-market concentration is the largest observed corridor exposure
NepalNPLHigh attention100%50.7%16.6%Current trade remains materially below historical peaks
USA, Puerto Rico and US Virgin IslandsUSAHigh attention100%0%2.1%Volatile products account for the largest observed corridor exposure
SingaporeSGPStable0%0%0.4%Buyer-market concentration is the largest observed corridor exposure
BrazilBRAStable0%0%28.8%Tariff, distance or agreement conditions create market-access friction
ItalyITAStable0%0%1%Volatile products account for the largest observed corridor exposure
CanadaCANStable0%0%3.6%Tariff, distance or agreement conditions create market-access friction
SpainESPStable0%81.5%1%Current trade remains materially below historical peaks
JapanJPNStable0%7.1%1.4%Buyer-market concentration is the largest observed corridor exposure

Full route coverage is retained. High attention means the route deserves closer product and access review.

Market opportunity signals

Product-market combinations worth investigating

All returned rows use buyer demand, exporter position, and calculated addressable-value fields. They are research signals, not forecasts.

Addressable-value signalsAll returned rows
Market opportunity signals for Bhutan
RankMarket and productBuyer importsAddressable 3-year valueCurrent shareDemand signal
1ChinaHS6 854231 · Electronic integrated circuits: processors and controllers, whether or not combined with memories, converters, logic circuits, amplifiers, clock and timing circuits, or other circuits$158.0B$93.1B0%Declining +10.5%
2IndiaHS6 270900 · Oils: petroleum oils and oils obtained from bituminous minerals, crude$130.1B$72.5B0.3%Growing -0.5%
3ChinaHS6 854239 · Electronic integrated circuits: n.e.c. in heading no. 8542$81.8B$61.4B0%Declining +4%
4USA, Puerto Rico and US Virgin IslandsHS6 851712 · Telephones for cellular networks or for other wireless networks$53.9B$53.8B0%Accelerating -8.8%
5USA, Puerto Rico and US Virgin IslandsHS6 847150 · Digital processing units: other than those of subheadings 8471.41 or 8471.49, whether or not containing in the same housing one or two of the following types of unit: storage units, input units or output units$53.9B$45.6B0%Declining +60.2%
6USA, Puerto Rico and US Virgin IslandsHS6 847130 · Data processing machines: portable, digital and automatic, weighing not more than 10kg, consisting of at least a central processing unit, a keyboard and a display$42.7B$33.3B0%Declining +6.2%
7China, Hong Kong Special Administrative RegionHS6 854239 · Electronic integrated circuits: n.e.c. in heading no. 8542$58.6B$29.1B0%Declining +6.6%
8Switzerland, LiechtensteinHS6 300490 · Medicaments: consisting of mixed or unmixed products n.e.s. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale$41.0B$27.7B0%Declining +19.6%

Addressable value is a calculated field. Validate product, buyer, tariff, and route conditions before commercial decisions.

Detailed export portfolioHS4 lines beneath the leading sectorsOpen the detailed four-digit export table for Bhutan.
All HS4 export lines2024 ranking
Top HS4 export lines for Bhutan
RankHS4Parent HS2 sectorExportsShareActive HS6
17202HS4 detail codeIron and steel (72) ↗$117.1M37.9%15
28802HS4 detail codeAircraft (88) ↗$95.8M31%3
32518HS4 detail codeSalt, sulphur, earths and stone (25) ↗$20.8M6.7%3
42520HS4 detail codeSalt, sulphur, earths and stone (25) ↗$10.0M3.3%2
52523HS4 detail codeSalt, sulphur, earths and stone (25) ↗$8.5M2.7%4
62517HS4 detail codeSalt, sulphur, earths and stone (25) ↗$7.1M2.3%4
72849HS4 detail codeInorganic chemicals (28) ↗$5.9M1.9%3
82203HS4 detail codeBeverages (22) ↗$5.6M1.8%1
97207HS4 detail codeIron and steel (72) ↗$5.3M1.7%4
100908HS4 detail codeCoffee, tea and spices (09) ↗$4.1M1.3%6
112208HS4 detail codeBeverages (22) ↗$3.7M1.2%7
124407HS4 detail codeWood and wood articles (44) ↗$2.5M0.8%7

HS4 values are reported observations. The hierarchy is preserved; no missing descriptions are inferred.

The country export read

Bhutan combines $308.7M in exports with a broad partner network.

In 2024, Bhutan recorded $308.7M in reported exports and $1.5B in imports, producing a reported trade deficit of $1.1B. Exports changed -40.5% year on year and +15% annualized over three years. Iron and steel (HS2 72) was the largest displayed export sector by value.

Destination network

Where Bhutan exports move

All returned destination lanes ranked by latest reported export value. Share is calculated against the country total. Review sources ↗

Latest reported destination lanesAll returned · 2024
Leading export destinations for Bhutan
RankDestinationLatest exportsShareYear-on-year3-year CAGR
1IndiaIND$282.8M91.6%-31.7%+14.8%
2Republic of KoreaKOR$8.7M2.8%+383.7%+77.4%
3ItalyITA$4.0M1.3%-77.4%+5.3%
4NepalNPL$3.9M1.3%-50.2%-14.9%
5SingaporeSGP$3.1M1%+81.6%+56.6%
6USA, Puerto Rico and US Virgin IslandsUSA$2.1M0.7%+61.7%+86.7%
7BrazilBRA$721.3K0.2%+22.9%+21.9%
8South AfricaZAF$564.3K0.2%+3,331.9%+404.2%
9CanadaCAN$455.8K0.1%+3,117.4%+174.2%
10JapanJPN$437.6K0.1%-34.8%+31.5%

Destination values are reported country-to-country observations. Full returned rows remain in the downloads.

Trade history

A long view of export scale

Latest twelve years from the 30-year reported country series. Context, not a forecast.

Reported exports by year

2013
$299.1M
2014
$388.1M
2015
$158.2M
2016
$259.1M
2017
$341.1M
2018
$414.5M
2019
$363.6M
2020
$256.0M
2021
$202.7M
2022
$436.3M
2023
$518.6M
2024
$308.7M

Partner network

Scale is only one part of export capability

Partner breadth, distance, agreements, and tariffs add context to reported exports.

FTA partner markets7Reported count
WTO partner markets169Reported count
EU partner markets28Reported count
Shared-border partners2Country context
Shared-language partners1Country context
Average partner distance8,383 kmCalculated average
Partners with FTA2.6%Calculated share
Applied tariff context0.1%Calculated average
MFN tariff context0.1%Calculated average
Tariff advantage+0.1 ppPreferential vs MFN

Exposure context

Signals to examine alongside export scale

Calculated or classified route and country context. Not predictions or recommendations.

Attention share63.6%

Covered value under attention

Critical share7.1%

Covered value marked critical

Below historical peak32.3%

Distance below route peaks

FTA-covered exports95%

Covered value with FTA context

Weighted tariff context0.5%

Export-weighted tariff

Macro contextMacro trend resilient

Primary attention driver: Trade remains below historical peaks.

Momentum score-23.8

History-based indicator

Partner concentration8,403.2

Partner HHI

Product concentration1,981.7

Product HHI

Country attention level: Watch. Missing fields remain unavailable.

Complete country valuesOpen the full profile evidenceFull history, sectors, HS4, destinations, risk, opportunities, and source fields.

Profile fields

Year2,024
Country Iso3BTN
Exports Usd$308.7M
Imports Usd$1.5B
Trade Balance Usd-$1.1B
Yoy Exports Growth Pct-40.5%
Yoy Imports Growth Pct17.1%
Exports Cagr 3y Pct15%
Imports Cagr 3y Pct7.6%
Export Partner Hhi8,403.2
Export Product Hhi1,981.7
Momentum Score-23.8
Risk Score51.9
Gdp Million Usd3,012.9 million USD
Gdp Per Capita Usd$3.8K
Population791,524
Labor Force416.8
Investment Rate Pct55.2%
Savings Rate Pct32.2%
Secondary Education Pct57.9%
Tertiary Education Pct9%
Total Factor Productivity512.6
Trade Openness Pct34.2%
Exports Gdp Pct6%
Num Active Partners270
Num Fta Partners7
Num Wto Partners169
Num Eu Partners28
Num Shared Border Partners2
Num Shared Language Partners1
Avg Partner Distance Km8,383 km
Avg Partner Gdp Million Usd533,678,518.33 million USD
Avg Partner Gdp Per Capita Usd$15.8
Avg Buyer Biz Entry DaysNot reported
Avg Buyer Biz Entry Cost PctNot reported
Pct Partners With Fta3
Pct Partners Shared Language0
Pct Partners Shared Border1
Avg Applied Tariff Pct0.1%
Avg Mfn Tariff Pct0.1%
Avg Preferential Tariff Pct0%
Tariff Advantage Pp+0.1 pp
Avg Distance All Partners Km8,509
Num Border Partners55
Num Colonial Partners0
Avg Substitution Elasticity-9.2
Pct Products High Elasticity66
Pct Products Low Elasticity5
Real Market Potential553,022.5
Foreign Market Potential187,753.6

Exposure fields

Country Iso3BTN
All History Lane Count466
Current Lane Count47
Critical Lane Count1
High Attention Lane Count18
High Volatility Lane Count24
Unrecovered Drawdown Lane Count14
Declining Demand Lane Count0
Concentrated Market Lane Count30
Access Friction Lane Count4
Buyer Macro Weakness Lane Count2
Monitored Exports Current Usd$293.5M
Attention Exports Usd$186.5M
Critical Exports Usd$20.8M
High Volatility Exports Usd$80.8M
Unrecovered Drawdown Exports Usd$145.2M
Non Fta Exports Usd$14.8M
Monitored Attention Share Pct63.6%
Monitored Critical Share Pct7.1%
Fta Covered Exports Share Pct95%
Export Weighted Volatility Cv1
Export Weighted Below Peak Pct32.3%
Export Weighted Distance Km1,456 km
Export Weighted Tariff Pct0.5%
Latest Data Year2,024
First Data Year1,995
Country Years Count30
Total Exports Latest Usd$308.7M
Total Imports Latest Usd$1.5B
Trade Balance Latest Usd-$1.1B
Exports Yoy Latest Pct-40.5%
Exports Cagr 3y Latest Pct15%
Gdp Latest Million Usd3,012.9 million USD
Gdp Per Capita Latest Usd$3.8K
Population Latest791,524
Investment Rate Latest Pct55.2%
Savings Rate Latest Pct32.2%
Trade Openness Latest Pct34.2%
Exports Gdp Latest Pct6%
Active Partners Latest270
Fta Partners Latest7
Foreign Market Potential Latest187,753.6
Gdp 5y Cagr Pct1.9%
Gdp Per Capita 5y Cagr Pct1.4%
Population 5y Cagr Pct0.7%
Partner Hhi Latest8,403.2
Partner Top1 Share Latest Pct91.6%
Partner Top3 Share Latest Pct95.7%
Partner Hhi All Avg7,539.2
Partner Hhi All Max9,281.9
Product Hhi Latest1,981.7
Product Top1 Share Latest Pct31%
Product Top3 Share Latest Pct67.8%
Product Hhi All Avg2,215.8
Product Hhi All Max4,405
Total Exports Attention Share Pct60.4%
Total Exports Critical Share Pct6.7%
Attention LevelWatch
Primary Risk DriverTrade remains below historical peaks
Macro Resilience LabelMacro trend resilient

Annual country history

YearExportsImportsTrade balanceExports YoYExports CAGR 3Y
1995$110.2M$73.1M$37.2MNot reportedNot reported
1996$108.2M$74.3M$33.9M-1.8%Not reported
1997$116.8M$74.7M$42.1M+7.9%Not reported
1998$48.3M$50.2M-$1.9M-58.7%-24.1%
1999$51.5M$57.2M-$5.8M+6.7%-21.9%
2000$125.1M$60.2M$64.8M+143%+2.3%
2001$121.5M$63.1M$58.4M-2.9%+36%
2002$196.5M$82.8M$113.7M+61.8%+56.3%
2003$189.9M$147.2M$42.7M-3.4%+14.9%
2004$243.0M$284.3M-$41.3M+28%+26%
2005$413.3M$187.6M$225.8M+70.1%+28.1%
2006$344.4M$156.8M$187.6M-16.7%+22%
2007$417.2M$192.1M$225.1M+21.1%+19.7%
2008$204.7M$302.9M-$98.3M-50.9%-20.9%
2009$172.4M$376.1M-$203.7M-15.8%-20.6%
2010$250.9M$538.8M-$287.9M+45.5%-15.6%
2011$276.3M$743.7M-$467.4M+10.1%+10.5%
2012$231.6M$574.3M-$342.7M-16.2%+10.3%
2013$299.1M$579.3M-$280.2M+29.1%+6%
2014$388.1M$484.8M-$96.7M+29.7%+12%
2015$158.2M$667.6M-$509.4M-59.2%-11.9%
2016$259.1M$615.4M-$356.3M+63.8%-4.7%
2017$341.1M$723.0M-$381.9M+31.7%-4.2%
2018$414.5M$892.3M-$477.8M+21.5%+37.9%
2019$363.6M$876.3M-$512.7M-12.3%+12%
2020$256.0M$851.6M-$595.6M-29.6%-9.1%
2021$202.7M$1.2B-$966.5M-20.8%-21.2%
2022$436.3M$1.4B-$993.8M+115.2%+6.3%
2023$518.6M$1.2B-$724.6M+18.9%+26.5%
2024$308.7M$1.5B-$1.1B-40.5%+15%

Top export sectors

RankHS2SectorExportsShareExport partnersActive HS6
172Iron and steel$125.4M40.6%17167
288Aircraft$97.2M31.5%510
325Salt, sulphur, earths and stone$48.7M15.8%454
422Beverages$13.7M4.4%823
528Inorganic chemicals$7.3M2.4%2127
644Wood and wood articles$4.5M1.5%1178
709Coffee, tea and spices$4.2M1.4%1438
885Electrical machinery$1.5M0.5%29255
984Machinery$1.2M0.4%33474
1090Optical and medical instruments$692.9K0.2%22140

Detailed HS4 export lines

RankHS4Parent HS2ExportsShareActive HS6
17202Iron and steel (72)$117.1M37.9%15
28802Aircraft (88)$95.8M31%3
32518Salt, sulphur, earths and stone (25)$20.8M6.7%3
42520Salt, sulphur, earths and stone (25)$10.0M3.3%2
52523Salt, sulphur, earths and stone (25)$8.5M2.7%4
62517Salt, sulphur, earths and stone (25)$7.1M2.3%4
72849Inorganic chemicals (28)$5.9M1.9%3
82203Beverages (22)$5.6M1.8%1
97207Iron and steel (72)$5.3M1.7%4
100908Coffee, tea and spices (09)$4.1M1.3%6
112208Beverages (22)$3.7M1.2%7
124407Wood and wood articles (44)$2.5M0.8%7

Top export destinations

RankDestinationISO3ExportsShareYoYCAGR 3Y
1IndiaIND$282.8M91.6%-31.7%+14.8%
2Republic of KoreaKOR$8.7M2.8%+383.7%+77.4%
3ItalyITA$4.0M1.3%-77.4%+5.3%
4NepalNPL$3.9M1.3%-50.2%-14.9%
5SingaporeSGP$3.1M1%+81.6%+56.6%
6USA, Puerto Rico and US Virgin IslandsUSA$2.1M0.7%+61.7%+86.7%
7BrazilBRA$721.3K0.2%+22.9%+21.9%
8South AfricaZAF$564.3K0.2%+3,331.9%+404.2%
9CanadaCAN$455.8K0.1%+3,117.4%+174.2%
10JapanJPN$437.6K0.1%-34.8%+31.5%

Destination risk context

RankDestinationAttentionAttention shareBelow peakApplied tariffPrimary reason
1India (IND)High attention62.7%33.6%50%Buyer-market concentration is the largest observed corridor exposure
2Republic of Korea (KOR)High attention100%0%13.3%Buyer-market concentration is the largest observed corridor exposure
3Nepal (NPL)High attention100%50.7%16.6%Current trade remains materially below historical peaks
4USA, Puerto Rico and US Virgin Islands (USA)High attention100%0%2.1%Volatile products account for the largest observed corridor exposure
5Singapore (SGP)Stable0%0%0.4%Buyer-market concentration is the largest observed corridor exposure
6Brazil (BRA)Stable0%0%28.8%Tariff, distance or agreement conditions create market-access friction
7Italy (ITA)Stable0%0%1%Volatile products account for the largest observed corridor exposure
8Canada (CAN)Stable0%0%3.6%Tariff, distance or agreement conditions create market-access friction
9Spain (ESP)Stable0%81.5%1%Current trade remains materially below historical peaks
10Japan (JPN)Stable0%7.1%1.4%Buyer-market concentration is the largest observed corridor exposure

Emerging corridor signals

RankDestinationHS6SignalMarket importsCurrent shareStrength
1Italy (ITA)720837new$793.0M0%100
2India (IND)880390new$96.7M0.3%100
3Singapore (SGP)841181new$156.2M0.3%100
4Singapore (SGP)841381new$54.6M0.5%100
5Singapore (SGP)850164new$72.4M0.4%100
6South Africa (ZAF)710231new$478.5M0.1%100
7India (IND)220422new$441.5K70.8%100
8Italy (ITA)720449new$1.4B0%100
9Italy (ITA)720712new$1.0B0%100
10Italy (ITA)720838new$1.1B0%100

Market opportunity signals

RankMarketHS6Buyer importsAddressable 3-year valueCurrent shareSignal
1China (CHN)854231$158.0B$93.1B0%Declining (+10.5%)
2India (IND)270900$130.1B$72.5B0.3%Growing (-0.5%)
3China (CHN)854239$81.8B$61.4B0%Declining (+4%)
4USA, Puerto Rico and US Virgin Islands (USA)851712$53.9B$53.8B0%Accelerating (-8.8%)
5USA, Puerto Rico and US Virgin Islands (USA)847150$53.9B$45.6B0%Declining (+60.2%)
6USA, Puerto Rico and US Virgin Islands (USA)847130$42.7B$33.3B0%Declining (+6.2%)
7China, Hong Kong Special Administrative Region (HKG)854239$58.6B$29.1B0%Declining (+6.6%)
8Switzerland, Liechtenstein (CHE)300490$41.0B$27.7B0%Declining (+19.6%)

How to read this page

Separate reported scale from calculated context.

Reported exports, imports, trade balance, sector rows, destination rows, and annual history describe merchandise trade observations for the stated country and year.

CAGR, shares, concentration measures, tariff context, exposure shares, and momentum are calculated indicators built from the available observations. They help organize research but are not additional reported trade or forecasts.

Coverage runs from 1995 through 2024 for this profile. Missing values are shown as Not reported. Read the full methodology ↗

Reported observations

OECD BIMTS merchandise trade values are the primary series for this view.

Calculated indicators

Growth, share, HHI, tariff, and exposure fields are derived from available reported values.

Coverage limits

Unavailable values remain unavailable. No company sales, shipment records, or forecasts are implied.

Questions about this profile

Bhutan export capability, in context

Short answers for readers comparing country export scale, partner breadth, and calculated trade indicators.

What does the Bhutan export profile measure?

It combines reported exports, imports, history, destinations, HS2 sectors, partner context, and calculated indicators for Bhutan.

What is the latest reported export value for Bhutan?

Bhutan recorded $308.7M in reported exports in 2024.

Which markets receive the most exports from Bhutan?

India leads by reported export value at $282.8M in 2024. Five destination lanes are highlighted.

Which sectors lead Bhutan's exports?

Iron and steel leads by reported value at $125.4M. Five HS2 chapters are highlighted.

How many years of Bhutan trade history are available?

This sample contains 30 observed annual rows covering 1995 through 2024. Missing observations are not estimated.

Are the growth and exposure values forecasts?

No. They are calculated or classified from reported observations, not forecasts or market-access guarantees.

Continue your research

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Compare countries, products, sectors, and routes using the available trade evidence and definitions.

Data source

OECD trade statistics with CEPII context

OECD (2025), Balanced international merchandise trade statistics (BIMTS) - HS2017-6D, OECD Data Explorer (accessed on 2026-08-28). OECD BIMTS is the primary trade series for this view. Supporting bilateral trade context uses CEPII BACI bilateral trade flows (202601) under Etalab 2.0 Open Licence. Yugalinks presents derived views of reported observations and calculated indicators. Data terms: OECD Terms & Conditions.