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Economy of Argentina vs Bhutan compared: GDP & Debt

Updated on by Georank

Argentina has a GDP of $683B compared to $3.58B for Bhutan, ranking 25/197 and 167/197 by economy size, respectively.

Argentina has $549B in government debt (80.3% of GDP), compared to $3.71B (103.6% of GDP) in Bhutan.

Argentina vs Bhutan GDP by year

Argentina
Bhutan
1x
Year GDP, current $
Argentina Bhutan
2025 $683,097,891,619 $3,579,320,145
2024 $638,365,455,340 $3,346,603,859
2023 $649,461,687,959 $3,012,896,790
2022 $633,993,756,301 $2,898,227,744
2021 $486,564,085,480 $2,768,802,960
2020 $385,740,508,437 $2,457,604,334
2019 $447,754,683,615 $2,735,683,570
2018 $524,819,892,360 $2,583,335,722
2017 $643,628,393,281 $2,591,358,009
2016 $557,532,320,663 $2,357,504,761
2015 $594,749,285,413 $2,187,815,803
2014 $526,319,673,732 $2,089,079,571
2013 $552,025,140,252 $1,943,696,952
2012 $545,982,375,701 $1,973,387,228
2011 $530,158,122,010 $1,977,728,659
2010 $423,627,422,092 $1,708,880,730
2009 $332,976,484,578 $1,331,343,798
2008 $361,558,037,110 $1,317,517,835
2007 $287,530,508,431 $1,255,767,964
2006 $232,557,260,817 $942,879,879
2005 $198,737,095,012 $860,391,000
2004 $164,657,930,453 $735,348,490
2003 $127,586,973,492 $651,935,430
2002 $97,724,004,252 $559,345,264
2001 $268,696,750,000 $496,110,226
2000 $284,203,750,000 $460,733,418
1999 $283,523,000,000 $399,311,200
1998 $298,948,250,000 $363,458,381
1997 $292,859,000,000 $352,229,077
1996 $272,149,750,000 $303,408,346
1995 $258,031,750,000 $290,490,984
1994 $257,440,000,000 $258,954,708
1993 $236,741,715,015 $225,973,693
1992 $228,778,917,308 $240,233,531
1991 $189,719,984,268 $240,294,286
1990 $141,352,654,305 $287,765,007
1989 $76,629,728,760 $264,798,626
1988 $126,890,235,049 $272,298,067
1987 $108,810,885,301 $242,742,766
1986 $105,872,372,614 $191,218,115
1985 $88,150,891,728 $163,288,815
1984 $116,915,052,107 $160,423,494
1983 $103,979,106,778 $156,704,290
1982 $84,307,486,837 $141,439,317
1981 $78,676,842,367 $139,174,178
1980 $76,961,923,741 $128,669,201
1979 $69,252,328,952 $105,377,995
1978 $89,049,453,088 $94,086,228
1977 $56,781,000,101 $97,884,434
1976 $51,169,499,892 $88,461,263
1975 $52,438,647,922 $86,820,762
1974 $72,436,777,342 $92,901,784
1973 $52,544,000,117 $78,900,289
1972 $34,733,000,536 $70,139,867
1971 $33,293,199,095 $66,289,450
1970 $31,584,210,366 $61,812,113
1969 $31,256,284,544 -
1968 $26,436,857,247 -
1967 $24,256,667,553 -
1966 $28,630,474,728 -
1965 $28,344,705,967 -
1964 $25,605,249,382 -
1963 $18,272,123,664 -
1962 $18,337,691,145 -
1961 $20,132,220,375 -
1960 $15,865,474,315 -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/argentina/bhutan | CC BY

GDP per capita in Argentina vs Bhutan by year

Argentina
GDP per capita

GDP per capita, PPP
Bhutan
GDP per capita

GDP per capita, PPP
1x
Year Current $
Argentina Bhutan
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $14,898 - $4,493 -
2024 $13,970 $30,431 $4,228 -
2023 $14,262 $30,221 $3,831 $16,215
2022 $13,962 $29,809 $3,711 $15,064
2021 $10,738 $26,300 $3,571 $13,459
2020 $8,536 $22,393 $3,192 $12,475
2019 $9,956 $23,517 $3,577 $12,909
2018 $11,753 $24,410 $3,400 $11,970
2017 $14,533 $23,385 $3,435 $11,677
2016 $12,700 $20,106 $3,152 $11,273
2015 $13,680 $19,899 $2,954 $10,214
2014 $12,233 $19,487 $2,849 $9,323
2013 $12,964 $19,929 $2,680 $8,667
2012 $12,950 $19,430 $2,751 $8,577
2011 $12,704 $19,105 $2,788 $7,935
2010 $10,260 $17,848 $2,436 $7,246
2009 $8,150 $16,182 $1,918 $6,466
2008 $8,944 $17,277 $1,920 $6,035
2007 $7,185 $16,455 $1,850 $5,729
2006 $5,869 $14,844 $1,406 $4,860
2005 $5,068 $13,465 $1,300 $4,523
2004 $4,242 $12,118 $1,130 $4,173
2003 $3,320 $10,933 $1,022 $3,942
2002 $2,570 $9,953 $896 $3,663
2001 $7,141 $11,118 $812 $3,338
2000 $7,637 $11,500 $772 $3,113
1999 $7,706 $11,464 $685 $3,017
1998 $8,219 $11,836 $638 $2,819
1997 $8,147 $11,403 $630 $2,683
1996 $7,663 $10,496 $553 $2,548
1995 $7,358 $9,891 $530 $2,374
1994 $7,438 $10,103 $467 $2,146
1993 $6,932 $9,472 $407 $2,001
1992 $6,790 $8,668 $416 $1,840
1991 $5,709 $7,961 $401 $1,657
1990 $4,315 $7,158 $488 $1,638
1989 $2,375 - $462 -
1988 $3,993 - $489 -
1987 $3,477 - $449 -
1986 $3,436 - $365 -
1985 $2,906 - $321 -
1984 $3,915 - $326 -
1983 $3,538 - $328 -
1982 $2,915 - $306 -
1981 $2,764 - $311 -
1980 $2,748 - $296.9 -
1979 $2,512 - $251.4 -
1978 $3,282 - $232.2 -
1977 $2,126 - $249.9 -
1976 $1,947 - $233.7 -
1975 $2,027 - $237.4 -
1974 $2,845 - $262.8 -
1973 $2,098 - $230.9 -
1972 $1,409 - $212.4 -
1971 $1,373 - $207.7 -
1970 $1,323 - $200.3 -
1969 $1,330 - - -
1968 $1,142 - - -
1967 $1,064 - - -
1966 $1,275 - - -
1965 $1,282 - - -
1964 $1,176 - - -
1963 $853 - - -
1962 $870 - - -
1961 $971 - - -
1960 $778 - - -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/argentina/bhutan | CC BY

Argentina's GDP per capita is $14,898, ranking 70/197, compared to $4,493 in Bhutan, ranking 128/197. Adjusted for purchasing power (GDP per capita PPP), Argentina ranks 73rd at $30,431, while Bhutan ranks 109th at $16,215.

Economic indicators

Argentina Bhutan
Gross domestic product
$683B
2025
$3.58B
2025
GDP rank
25/197
2025
167/197
2025
GDP growth
4.37%
2024-2025
8.01%
2024-2025
GDP per capita
$14,898
2025
$4,493
2025
GDP per capita rank
70/197
2025
128/197
2025
GDP per capita, PPP
$30,431
2024
$16,215
2023
GDP per capita PPP rank
73/197
2024
109/197
2023
Government debt
$549B
2025
$3.71B
2025
Debt-to-GDP ratio
80.3%
2025
103.6%
2025
Government debt per person
$11,965
2025
$4,655
2025
Government debt per person rank
52/185
2025
88/185
2025
Average annual personal income after taxes
$8,751
2026
$4,215
2026
Market capitalization of domestic companies
$52.9B
2022
n/a
Number of billionaires
5
2026
n/a
Income share by richest 10%
31.2%
2024
22.7%
2022
Income share by poorest 10%
1.9%
2024
3.6%
2022
Government expenditure, % of GDP
31.6%
2025
30.5%
2025
Consumer prices inflation
41.9%
2024-2025
2.6%
2024-2025
Central bank interest rate
29%
2025
n/a
Unemployment rate
7.38%
2025
3.36%
2025
Population
46083022
805057

Spending and national debt comparison by year

Argentina
Spending

Debt
Bhutan
Spending

Debt
1x
Year % of GDP
Argentina Bhutan
Government spending Government debt Government spending Government debt
2025 31.6% 80.3% 30.5% 103.6%
2024 31% 84.7% 28.3% 108.7%
2023 37.6% 154.6% 28.9% 117.2%
2022 37.6% 84.3% 32.1% 119.9%
2021 37.9% 81% 36.6% 124.5%
2020 42.5% 103.8% 30.9% 116%
2019 38.1% 89.8% 24.2% 100.8%
2018 38.9% 85.2% 31.7% 103.4%
2017 41.1% 57% 30.6% 104.1%
2016 41.5% 53.1% 30.5% 103%
2015 41.4% 52.6% 27.5% 90.2%
2014 38.9% 44.7% 28.9% 89.8%
2013 37.6% 43.5% 32.5% 87.4%
2012 36.8% 40.4% 35.1% 71.5%
2011 34.9% 38.9% 36.1% 62.3%
2010 33.4% 43.5% 41.5% 55.8%
2009 34.5% 55.4% 39.3% 61%
2008 30.8% 53.8% 36.1% 60.6%
2007 29.6% 62.1% 33.2% 67.3%
2006 26.6% 70.8% 33.4% 80.1%
2005 24.4% 80.3% 36.4% 80.8%
2004 23% 117.9% 31% 76%
2003 22% 125.2% 34.7% 68.5%
2002 21.9% 147.2% 39.3% 57.7%
2001 26.4% 48% 50.3% 52.4%
2000 25.2% 40.8% 43% 44%
1999 25.5% 38.9% 40.2% 39.2%
1998 23.1% 34.1% 31.1% 36.4%
1997 22.6% 31.7% 37.8% 33%
1996 22.7% 32.6% 37.9% 36.8%
1995 22.9% 30.7% 38.6% 38.7%
1994 22.9% 28.4% 37.9% 53.2%
1993 22% 26.9% 35.2% 60.2%
1992 12.1% 25% 34.5% 35.6%
1991 11.4% 35.7% 30.8% 33.5%
1990 11% 48.5% 35.8% 27.4%
1989 11% 118.2% 46.8% 26.4%
1988 12.3% 61.4% 45.3% 24.7%
1987 13.7% 74.1% 47.5% 17.3%
1986 13.7% 55.9% - -
1985 14.7% 55.2% - -
1984 13% 54.6% - -
1983 14.2% 64.2% - -
1982 15.9% 52.2% - -
1981 17% 26.5% - -
1980 15.2% 11.4% - -
1979 14.5% 12.4% - -
1978 14.9% 17.5% - -
1977 12.6% 25.1% - -
1976 13% 28.7% - -
1975 12.5% 33.8% - -
1974 14% 13% - -
1973 12.6% 12% - -
1972 11.2% 17.1% - -
1971 11.7% 15.2% - -
1970 12% 13.5% - -
1969 12.3% 9.63% - -
1968 12.8% 9.43% - -
1967 13% 10.9% - -
1966 12.1% 13.4% - -
1965 11.6% 15.9% - -
1964 11.8% 16.8% - -
1963 11.2% 23.4% - -
1962 11.3% 25.1% - -
1961 12.3% 8.69% - -
1960 11.3% 8.39% - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1992, retrieved 2026-07-08).

GeoRank.org/economy/argentina/bhutan | CC BY

In 2025, Argentina's government spending was $216B, accounting for 31.6% of its GDP, while Bhutan spent $1.09B, or 30.5% of GDP.

Debt-to-GDP ratio is 80.3% in Argentina and 103.6% in Bhutan, ranking 43/185 and 19/185, respectively.

Government deficit by year

Deficit/surplus
Argentina

Bhutan
1x
Year Deficit/surplus, % of GDP
Argentina Bhutan
2025 -0.38% -2.7%
2024 0.46% -1.79%
2023 -5.33% -4.73%
2022 -3.84% -6.95%
2021 -4.33% -5.76%
2020 -8.67% -1.81%
2019 -4.44% -1.49%
2018 -5.44% -1.52%
2017 -6.69% -4.49%
2016 -6.65% -2.31%
2015 -6% -0.49%
2014 -4.25% 2.46%
2013 -3.25% -4.55%
2012 -3.02% -2.1%
2011 -2.75% -3.02%
2010 -1.39% 1.92%
2009 -1.83% -0.8%
2008 0.35% -2.57%
2007 0.76% 0.79%
2006 1.65% -0.07%
2005 3.34% -6.96%
2004 3.97% 1.8%
2003 1.5% -10.2%
2002 -1.91% -4.33%
2001 -5.36% -12.2%
2000 -3.42% -3.39%
1999 -3.71% -1.28%
1998 -1.83% 1.28%
1997 -1.84% -1.92%
1996 -2.81% 2.55%
1995 -2.07% -0.88%
1994 -1.25% -0.13%
1993 -0.02% 4.71%
1992 1.54% -3.47%
1991 0.96% -0.48%
1990 -0.14% -7.21%
1989 -0.25% -10.1%
1988 -1.75% 1.33%
1987 1.89% -0.56%
1986 3.3% -
1985 3.6% -
1984 -1.39% -
1983 -2.89% -
1982 -4.68% -
1981 -3.93% -
1980 -1.14% -
1979 -1.5% -
1978 -1.36% -
1977 -0.54% -
1976 -2.39% -
1975 -2.9% -
1974 -1.08% -
1973 -1.48% -
1972 -0.12% -
1971 0.32% -
1970 1.01% -
1969 0.54% -
1968 0.25% -
1967 0.66% -
1966 -0.98% -
1965 -0.89% -
1964 -1.34% -
1963 -0.65% -
1962 -0.47% -
1961 1.73% -
1960 -1.98% -
1959 -4.82% -
1958 -6.61% -
1957 -2.72% -
1956 -3.77% -
1955 -3.75% -
1954 -3.21% -
1953 -3.1% -
1952 -3.01% -
1951 -3.52% -
1950 -3.38% -
1949 -3.98% -
1948 -2.73% -
1947 -1.6% -
1946 -4.12% -
1945 -5.25% -
1944 -4.61% -
1943 -3.86% -
1942 -2.9% -
1941 -2.85% -
1940 -2.31% -
1939 -3.09% -
1938 -2.09% -
1937 -1.62% -
1936 -1.44% -
1935 -1.16% -
1934 -1.56% -
1933 -1.27% -
1932 -1.19% -
1931 -2.98% -
1930 -3.94% -
1929 -1.95% -
1928 -1.52% -
1927 -3.3% -
1926 -1% -
1925 -0.46% -
1924 -0.68% -
1923 -0.93% -
1922 -1.86% -
1921 -0.99% -
1920 0.2% -
1919 -0.3% -
1918 -1.14% -
1917 -2.18% -
1916 -2.13% -
1915 -2.64% -
1914 -3.03% -
1913 -0.61% -
1912 -0.78% -
1911 -2.19% -
1910 -2.24% -
1909 -2.57% -
1908 0.28% -
1907 -0.2% -
1906 -0.32% -
1905 -3.52% -
1904 0.15% -
1903 -0.25% -
1902 -2.2% -
1901 -0.54% -
1900 -0.42% -
1899 -0.4% -
1898 -9.31% -
1897 -1.46% -
1896 -4.19% -
1895 -1.59% -
1894 -1.06% -
1893 0.06% -
1892 -1.33% -
1891 -4.48% -
1890 -1.82% -
1889 -2.88% -
1888 -0.69% -
1887 0.35% -
1886 -2.39% -
1885 -2.67% -
1884 -4.07% -
1883 -4.19% -
1882 -5.42% -
1881 -2.31% -
1880 -2.15% -
1879 -1.09% -
1878 -1.08% -
1877 -1.68% -
1876 -4.15% -
1875 -3.08% -
1874 -2.59% -
1873 -1.39% -
1872 -1.18% -
1871 -5.54% -
1870 -2.74% -
1869 -1.61% -
1868 -1.8% -
1867 -1.08% -
1866 -2.09% -
1865 -0.79% -
1864 0.51% -

Data sources: International Monetary Fund (IMF) | Public Finances in Modern History (1864–1992, retrieved 2026-07-08); International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08).

GeoRank.org/economy/argentina/bhutan | CC BY

In 2025, Argentina's government deficit, the difference between spending and revenue, was $2.6B, equivalent to 0.38% of GDP. This compares to Bhutan's deficit of $96.7M, or 2.7% of GDP.

Over the past 39 years, Argentina recorded a fiscal deficit in 29 of those years, while Bhutan ran a deficit in 31 years. On average, Argentina posted an annual deficit equal to 2.01% of GDP, compared to deficit of 2.4% of GDP for Bhutan.

Inflation comparison by year

Inflation
Argentina

Bhutan
1x
Year Consumer prices inflation
Argentina Bhutan
2025 41.9% 2.6%
2024 219.9% 4.3%
2023 133.5% 4.5%
2022 72.4% 5.9%
2021 48.4% 8.2%
2020 42% 3%
2019 53.5% 2.8%
2018 34.3% 3.6%
2017 25.7% 4.3%
2016 - 3.3%
2015 - 6.7%
2014 - 9.6%
2013 10.6% 8.1%
2012 10% 10.1%
2011 9.8% 8.6%
2010 10.5% 4.8%
2009 6.3% 7.1%
2008 8.6% 6.3%
2007 8.8% 5.2%
2006 10.9% 4.9%
2005 9.6% 4.8%
2004 4.4% 3.3%
2003 13.4% 2.5%
2002 25.9% 2.9%
2001 -1.1% 3.7%
2000 -0.9% 7.2%
1999 -1.2% 9.1%
1998 0.9% 7.6%
1997 - 8.6%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2025, retrieved 2026-07-08).

GeoRank.org/economy/argentina/bhutan | CC BY

Over the past 28 years, Argentina has recorded an average annual inflation rate of 31.9%, compared with 5.54% in Bhutan. In 2025, inflation was 41.9% in Argentina and 2.6% in Bhutan.

Balance of trade

Argentina Bhutan
Current account balance
-$7.58B
2025
-$649M
2024
Current account balance ranking
169/190
2025
105/190
2024
Current account balance, % of GDP
-1.11%
2025
-19.4%
2024
Goods imports
$71.8B
2025
$1.28B
2024
Goods exports
$87.2B
2025
$660M
2024
Service imports
$29.3B
2025
$228M
2024
Service exports
$18B
2025
$288M
2024
Imports of goods and services, % of GDP
14.8%
2025
47.9%
2024
Exports of goods and services, % of GDP
15.6%
2025
31.5%
2024

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Argentina Bhutan
Economic freedom 57.4 57.5
Economic freedom ranking 117/197 115/197
Property rights 41.2 69.2
Government integrity 41.2 72.2
Judicial effectiveness 58.2 61.8
Tax burden 67.8 83.4
Government spending 62.3 74.1
Fiscal health 72.2 25.8
Business freedom 56.8 67.8
Labor freedom 53.5 60.1
Monetary freedom 28.9 71.6
Trade freedom 67.4 63.4
Investment freedom 70 20
Financial freedom 70 20

Economic freedom comparison by year

Argentina
Bhutan
1x
Year Economic freedom index
Argentina Bhutan
2026 57.4 57.5
2025 54.2 57.5
2024 49.9 55.4
2023 51 59
2022 50.1 59.3
2021 52.7 58.3
2020 53.1 62.1
2019 52.2 62.9
2018 52.3 61.8
2017 50.4 58.4
2016 43.8 59.5
2015 44.1 57.4
2014 44.6 56.7
2013 46.7 55
2012 48 56.6
2011 51.7 57.6
2010 51.2 57
2009 52.3 57.7
2008 54.2 -
2007 54 -
2006 53.4 -
2005 51.7 -
2004 53.9 -
2003 56.3 -
2002 65.7 -
2001 68.6 -
2000 70 -
1999 70.6 -
1998 70.9 -
1997 73.3 -
1996 74.7 -
1995 68 -

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08).

GeoRank.org/economy/argentina/bhutan | CC BY

The Economic Freedom Index for Argentina is 57.4, ranking 117/197, compared to 57.5 for Bhutan, ranking 115/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Argentina Bhutan
Services, % of GDP
56.2%
2025
53.2%
2025
Industry, % of GDP
22.9%
2025
33.2%
2025
Agriculture, forestry, and fishing, % of GDP
5.53%
2025
13.7%
2025
GNI, Atlas method
$672B
2025
$3.43B
2025
GNI per capita, PPP
$31,920
2025
$18,520
2025
Total reserves including gold
$41B
2025
$1.19B
2025
Total reserves ranking
54/177
2025
140/177
2025
Net foreign direct investment
-$300M
2025
-$2.82M
2024
Net inflows of foreign direct investment
$11.6B
2024
$2.82M
2024
Net outflows of foreign direct investment
$2.76B
2024
$0
2024
Servicing debt to the IMF, % of GNI
6.32%
2024
5.11%
2024
Poverty at national poverty lines
38.1%
2024
12.4%
2022
Gross capital formation, % of GDP
16.1%
2025
42.6%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08); U.S. Census Bureau (1985–2025, retrieved 2026-07-08).

GeoRank.org/economy/argentina/bhutan | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Public Finances in Modern History (1864–1992, retrieved 2026-07-08)
  3. International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08)
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The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.