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Economy of Bhutan vs Bolivia compared: GDP & Debt

Updated on by Georank

Bhutan has a GDP of $3.58B compared to $64.8B for Bolivia, ranking 167/197 and 88/197 by economy size, respectively.

Bhutan has $3.71B in government debt (103.6% of GDP), compared to $54.9B (84.8% of GDP) in Bolivia.

Bhutan vs Bolivia GDP by year

Bhutan
Bolivia
1x
Year GDP, current $
Bhutan Bolivia
2025 $3,579,320,145 $64,768,947,525
2024 $3,346,603,859 $54,881,327,453
2023 $3,012,896,790 $52,340,206,946
2022 $2,898,227,744 $50,959,081,954
2021 $2,768,802,960 $47,877,892,402
2020 $2,457,604,334 $42,313,784,081
2019 $2,735,683,570 $49,056,643,589
2018 $2,583,335,722 $48,414,038,842
2017 $2,591,358,009 $45,927,439,595
2016 $2,357,504,761 $33,941,126,194
2015 $2,187,815,803 $33,000,198,249
2014 $2,089,079,571 $32,996,188,017
2013 $1,943,696,952 $30,659,338,886
2012 $1,973,387,228 $27,084,497,482
2011 $1,977,728,659 $23,963,164,697
2010 $1,708,880,730 $19,649,723,722
2009 $1,331,343,798 $17,339,992,194
2008 $1,317,517,835 $16,674,276,286
2007 $1,255,767,964 $13,120,108,008
2006 $942,879,879 $11,451,844,902
2005 $860,391,000 $9,549,122,905
2004 $735,348,490 $8,773,451,752
2003 $651,935,430 $8,082,399,640
2002 $559,345,264 $7,905,485,146
2001 $496,110,226 $8,141,516,928
2000 $460,733,418 $8,397,855,485
1999 $399,311,200 $8,285,064,435
1998 $363,458,381 $8,497,494,652
1997 $352,229,077 $7,925,736,821
1996 $303,408,346 $7,396,949,126
1995 $290,490,984 $6,715,161,732
1994 $258,954,708 $5,981,222,859
1993 $225,973,693 $5,734,699,489
1992 $240,233,531 $5,643,868,749
1991 $240,294,286 $5,343,262,457
1990 $287,765,007 $4,867,582,598
1989 $264,798,626 $4,715,973,437
1988 $272,298,067 $4,597,612,362
1987 $242,742,766 $4,347,956,338
1986 $191,218,115 $3,959,382,833
1985 $163,288,815 $5,377,276,555
1984 $160,423,494 $6,169,483,225
1983 $156,704,290 $5,422,656,823
1982 $141,439,317 $5,594,126,369
1981 $139,174,178 $5,891,598,695
1980 $128,669,201 $4,537,479,608
1979 $105,377,995 $4,421,336,383
1978 $94,086,228 $3,758,220,890
1977 $97,884,434 $3,227,436,282
1976 $88,461,263 $2,731,984,008
1975 $86,820,762 $2,404,697,651
1974 $92,901,784 $2,100,249,875
1973 $78,900,289 $1,262,968,516
1972 $70,139,867 $1,257,615,645
1971 $66,289,450 $1,095,622,896
1970 $61,812,113 $1,017,003,367
1969 - $929,629,630
1968 - $857,912,458
1967 - $755,808,081
1966 - $669,191,919
1965 - $604,377,104
1964 - $544,023,569
1963 - $482,828,283
1962 - $448,400,673
1961 - $410,101,010
1960 - $377,020,202

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

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

GDP per capita in Bhutan vs Bolivia by year

Bhutan
GDP per capita

GDP per capita, PPP
Bolivia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Bhutan Bolivia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $4,493 - $5,148 -
2024 $4,228 - $4,421 $12,878
2023 $3,831 $16,215 $4,275 $12,892
2022 $3,711 $15,064 $4,219 $12,307
2021 $3,571 $13,459 $4,011 $11,202
2020 $3,192 $12,475 $3,581 $9,581
2019 $3,577 $12,909 $4,203 $11,005
2018 $3,400 $11,970 $4,207 $10,758
2017 $3,435 $11,677 $4,048 $10,420
2016 $3,152 $11,273 $3,036 $9,242
2015 $2,954 $10,214 $2,996 $8,757
2014 $2,849 $9,323 $3,041 $8,629
2013 $2,680 $8,667 $2,870 $8,069
2012 $2,751 $8,577 $2,576 $7,184
2011 $2,788 $7,935 $2,316 $6,598
2010 $2,436 $7,246 $1,930 $6,245
2009 $1,918 $6,466 $1,731 $6,024
2008 $1,920 $6,035 $1,693 $5,890
2007 $1,850 $5,729 $1,355 $5,537
2006 $1,406 $4,860 $1,203 $5,244
2005 $1,300 $4,523 $1,020 $4,938
2004 $1,130 $4,173 $953 $4,663
2003 $1,022 $3,942 $893 $4,433
2002 $896 $3,663 $888 $4,304
2001 $812 $3,338 $930 $4,205
2000 $772 $3,113 $976 $4,113
1999 $685 $3,017 $979 $3,991
1998 $638 $2,819 $1,022 $3,988
1997 $630 $2,683 $970 $3,822
1996 $553 $2,548 $922 $3,645
1995 $530 $2,374 $853 $3,494
1994 $467 $2,146 $774 $3,331
1993 $407 $2,001 $757 $3,177
1992 $416 $1,840 $760 $3,036
1991 $401 $1,657 $734 $2,981
1990 $488 $1,638 $683 $2,797
1989 $462 - $675 -
1988 $489 - $673 -
1987 $449 - $650 -
1986 $365 - $604 -
1985 $321 - $838 -
1984 $326 - $982 -
1983 $328 - $882 -
1982 $306 - $930 -
1981 $311 - $1,001 -
1980 $296.9 - $788 -
1979 $251.4 - $785 -
1978 $232.2 - $683 -
1977 $249.9 - $600 -
1976 $233.7 - $520 -
1975 $237.4 - $468 -
1974 $262.8 - $418 -
1973 $230.9 - $257.2 -
1972 $212.4 - $261.9 -
1971 $207.7 - $233.4 -
1970 $200.3 - $221.6 -
1969 - - $207.1 -
1968 - - $195.5 -
1967 - - $176.1 -
1966 - - $159.3 -
1965 - - $147.1 -
1964 - - $135.2 -
1963 - - $122.6 -
1962 - - $116.2 -
1961 - - $108.5 -
1960 - - $101.8 -

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

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

Bhutan's GDP per capita is $4,493, ranking 128/197, compared to $5,148 in Bolivia, ranking 121/197. Adjusted for purchasing power (GDP per capita PPP), Bhutan ranks 109th at $16,215, while Bolivia ranks 122nd at $12,878.

Economic indicators

Bhutan Bolivia
Gross domestic product
$3.58B
2025
$64.8B
2025
GDP rank
167/197
2025
88/197
2025
GDP growth
8.01%
2024-2025
-1.58%
2024-2025
GDP per capita
$4,493
2025
$5,148
2025
GDP per capita rank
128/197
2025
121/197
2025
GDP per capita, PPP
$16,215
2023
$12,878
2024
GDP per capita PPP rank
109/197
2023
122/197
2024
Government debt
$3.71B
2025
$54.9B
2025
Debt-to-GDP ratio
103.6%
2025
84.8%
2025
Government debt per person
$4,655
2025
$4,364
2025
Government debt per person rank
88/185
2025
93/185
2025
Average annual personal income after taxes
$4,215
2026
$4,410
2026
Income share by richest 10%
22.7%
2022
30.6%
2024
Income share by poorest 10%
3.6%
2022
1.9%
2024
Government expenditure, % of GDP
30.5%
2025
32.2%
2025
Consumer prices inflation
2.6%
2024-2025
19.5%
2024-2025
Central bank interest rate n/a
3.26%
2025
Unemployment rate
3.36%
2025
2.73%
2024
Population
805057
12837312

Spending and national debt comparison by year

Bhutan
Spending

Debt
Bolivia
Spending

Debt
1x
Year % of GDP
Bhutan Bolivia
Government spending Government debt Government spending Government debt
2025 30.5% 103.6% 32.2% 84.8%
2024 28.3% 108.7% 33.5% 83.2%
2023 28.9% 117.2% 33.5% 78.3%
2022 32.1% 119.9% 31.2% 69.2%
2021 36.6% 124.5% 29.4% 68.7%
2020 30.9% 116% 31.9% 67.5%
2019 24.2% 100.8% 30.1% 48.9%
2018 31.7% 103.4% 31.4% 44.2%
2017 30.6% 104.1% 31.6% 41.9%
2016 30.5% 103% 32.9% 38.2%
2015 27.5% 90.2% 37% 34%
2014 28.9% 89.8% 34.9% 31.8%
2013 32.5% 87.4% 30.4% 31%
2012 35.1% 71.5% 31.3% 30.7%
2011 36.1% 62.3% 30.6% 30.5%
2010 41.5% 55.8% 27.5% 32.8%
2009 39.3% 61% 28.9% 34.1%
2008 36.1% 60.6% 31.1% 32.4%
2007 33.2% 67.3% 28.9% 35.5%
2006 33.4% 80.1% 26.6% 48.6%
2005 36.4% 80.8% 29.5% 73.2%
2004 31% 76% 29% 80.6%
2003 34.7% 68.5% 28.6% 85.5%
2002 39.3% 57.7% 29.6% 77.2%
2001 50.3% 52.4% 28.6% 74.4%
2000 43% 44% 26.2% 66.5%
1999 40.2% 39.2% 26.3% 61.7%
1998 31.1% 36.4% 26.8% 61.2%
1997 37.8% 33% 25.3% 64.6%
1996 37.9% 36.8% 23.3% 72.4%
1995 38.6% 38.7% 23.1% 81.7%
1994 37.9% 53.2% 23.9% 87.6%
1993 35.2% 60.2% 24.3% 83.8%
1992 34.5% 35.6% 22.6% 92.4%
1991 30.8% 33.5% 21.6% 92.8%
1990 35.8% 27.4% 20.4% 102.9%
1989 46.8% 26.4% 24.4% 98%
1988 45.3% 24.7% 24% 115.9%
1987 47.5% 17.3% 24.4% 145.3%
1986 - - 22.2% 149%
1985 - - 21.8% 205.2%
1984 - - 29% 166.5%
1983 - - 32.1% 157.3%
1982 - - 25% 155.4%
1981 - - 16.6% 121.7%
1980 - - 19.8% 100%
1979 - - 18% 92%
1978 - - 17.3% 82.5%
1977 - - 18.6% 82.4%
1976 - - 16.8% 68.9%
1975 - - 14.4% 56.2%
1974 - - 14.2% 52.7%
1973 - - 14.1% 80.9%
1972 - - 11.8% 77.7%
1971 - - 11.3% 65.7%
1970 - - 10% 63.9%
1969 - - 12.3% -
1968 - - 14.1% -
1967 - - 13.1% -
1966 - - 12.9% -
1965 - - 12.9% -
1964 - - 10.8% -
1963 - - 10.8% -
1962 - - 10.2% -
1961 - - 10.7% -
1960 - - 10.1% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1999, retrieved 2026-07-08).

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

In 2025, Bhutan's government spending was $1.09B, accounting for 30.5% of its GDP, while Bolivia spent $20.8B, or 32.2% of GDP.

Debt-to-GDP ratio is 103.6% in Bhutan and 84.8% in Bolivia, ranking 19/185 and 36/185, respectively.

Government deficit by year

Deficit/surplus
Bhutan

Bolivia
1x
Year Deficit/surplus, % of GDP
Bhutan Bolivia
2025 -2.7% -11.6%
2024 -1.79% -8.7%
2023 -4.73% -9.46%
2022 -6.95% -6.15%
2021 -5.76% -7.87%
2020 -1.81% -11%
2019 -1.49% -6.04%
2018 -1.52% -6.8%
2017 -4.49% -6.42%
2016 -2.31% -5.95%
2015 -0.49% -5.76%
2014 2.46% -2.88%
2013 -4.55% 0.51%
2012 -2.1% 1.49%
2011 -3.02% 0.72%
2010 1.92% 1.42%
2009 -0.8% 2.29%
2008 -2.57% 3.1%
2007 0.79% -1.37%
2006 -0.07% 3.99%
2005 -6.96% -2%
2004 1.8% -4.97%
2003 -10.2% -7.04%
2002 -4.33% -7.82%
2001 -12.2% -6.11%
2000 -3.39% -3.34%
1999 -1.28% -3.43%
1998 1.28% -4.56%
1997 -1.92% -2.94%
1996 2.55% -1.7%
1995 -0.88% -1.63%
1994 -0.13% -2.68%
1993 4.71% -5.46%
1992 -3.47% -3.94%
1991 -0.48% -3.76%
1990 -7.21% -3.94%
1989 -10.1% -5.5%
1988 1.33% -6.5%
1987 -0.56% -7.7%
1986 - -2.7%
1985 - -9.8%
1984 - -25.4%
1983 - -19.8%
1982 - -15.9%
1981 - -12.3%
1980 - -15.3%
1979 - -11.2%
1978 - -9.97%
1977 - -11.2%
1976 - -1.15%
1975 - -2.33%
1974 - -1.87%
1973 - -3.72%
1972 - -3.69%
1971 - -3.67%
1970 - -1.92%
1969 - -4.16%
1968 - -5.67%
1967 - -4.29%
1966 - -3.55%
1965 - -4.12%
1964 - -2.68%
1963 - -3.02%
1962 - -2.8%
1961 - -2.81%
1960 - -3.35%
1959 - -4.32%
1958 - -2.95%
1957 - -1.11%
1956 - -0.11%
1955 - 0.33%
1954 - 0.006%
1953 - -0.48%
1952 - -0.94%
1951 - -0.42%
1950 - -1.17%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1950–1989, retrieved 2026-07-08).

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

In 2025, Bhutan's government deficit, the difference between spending and revenue, was $96.7M, equivalent to 2.7% of GDP. This compares to Bolivia's deficit of $7.51B, or 11.6% of GDP.

Over the past 39 years, Bhutan recorded a fiscal deficit in 31 of those years, while Bolivia ran a deficit in 32 years. On average, Bhutan posted an annual deficit equal to 2.4% of GDP, compared to deficit of 4.14% of GDP for Bolivia.

Inflation comparison by year

Inflation
Bhutan

Bolivia
1x
Year Consumer prices inflation
Bhutan Bolivia
2025 2.6% 19.5%
2024 4.3% 5.1%
2023 4.5% 2.58%
2022 5.9% 1.75%
2021 8.2% 0.74%
2020 3% 0.94%
2019 2.8% 1.84%
2018 3.6% 2.27%
2017 4.3% 2.82%
2016 3.3% 3.62%
2015 6.7% 4.06%
2014 9.6% 5.77%
2013 8.1% 5.74%
2012 10.1% 4.52%
2011 8.6% 9.88%
2010 4.8% 2.5%
2009 7.1% 3.35%
2008 6.3% 14%
2007 5.2% 8.71%
2006 4.9% 4.28%
2005 4.8% 5.39%
2004 3.3% 4.44%
2003 2.5% 3.34%
2002 2.9% 0.93%
2001 3.7% 1.59%
2000 7.2% 4.61%
1999 9.1% 2.16%
1998 7.6% 7.67%
1997 8.6% 4.71%

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

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

Over the past 29 years, Bhutan has recorded an average annual inflation rate of 5.64%, compared with 4.79% in Bolivia. In 2025, inflation was 2.6% in Bhutan and 19.5% in Bolivia.

Balance of trade

Bhutan Bolivia
Current account balance
-$649M
2024
-$1.22B
2025
Current account balance ranking
105/190
2024
124/190
2025
Current account balance, % of GDP
-19.4%
2024
-1.88%
2025
Goods imports
$1.28B
2024
$9.23B
2025
Goods exports
$660M
2024
$9.56B
2025
Service imports
$228M
2024
$2.25B
2025
Service exports
$288M
2024
$1.21B
2025
Imports of goods and services, % of GDP
47.9%
2024
25.5%
2024
Exports of goods and services, % of GDP
31.5%
2024
21.4%
2024

Economic freedom indices

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

Bhutan Bolivia
Economic freedom 57.5 42.4
Economic freedom ranking 115/197 184/197
Property rights 69.2 20.2
Government integrity 72.2 27.1
Judicial effectiveness 61.8 29.5
Tax burden 83.4 86.4
Government spending 74.1 56.3
Fiscal health 25.8 0.8
Business freedom 67.8 53.6
Labor freedom 60.1 52.2
Monetary freedom 71.6 67.1
Trade freedom 63.4 60.6
Investment freedom 20 15
Financial freedom 20 40

Economic freedom comparison by year

Bhutan
Bolivia
1x
Year Economic freedom index
Bhutan Bolivia
2026 57.5 42.4
2025 57.5 44.1
2024 55.4 43.5
2023 59 43.4
2022 59.3 43
2021 58.3 42.7
2020 62.1 42.8
2019 62.9 42.3
2018 61.8 44.1
2017 58.4 47.7
2016 59.5 47.4
2015 57.4 46.8
2014 56.7 48.4
2013 55 47.9
2012 56.6 50.2
2011 57.6 50
2010 57 49.4
2009 57.7 53.6
2008 - 53.1
2007 - 54.2
2006 - 57.8
2005 - 58.4
2004 - 64.5
2003 - 64.3
2002 - 65.1
2001 - 68
2000 - 65
1999 - 65.6
1998 - 68.8
1997 - 65.1
1996 - 65.2
1995 - 56.8

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

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

The Economic Freedom Index for Bhutan is 57.5, ranking 115/197, compared to 42.4 for Bolivia, ranking 184/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Bhutan Bolivia
Services, % of GDP
53.2%
2025
53.4%
2024
Industry, % of GDP
33.2%
2025
31.3%
2024
Agriculture, forestry, and fishing, % of GDP
13.7%
2025
8.83%
2024
GNI, Atlas method
$3.43B
2025
$55.6B
2025
GNI per capita, PPP
$18,520
2025
$12,530
2025
Total reserves including gold
$1.19B
2025
$580M
2025
Total reserves ranking
140/177
2025
155/177
2025
Net foreign direct investment
-$2.82M
2024
-$464M
2025
Net inflows of foreign direct investment
$2.82M
2024
$358M
2024
Net outflows of foreign direct investment
$0
2024
$133M
2024
Servicing debt to the IMF, % of GNI
5.11%
2024
3.41%
2024
Poverty at national poverty lines
12.4%
2022
37.7%
2024
Gross capital formation, % of GDP
42.6%
2024
17.9%
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/bhutan/bolivia | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08)
  3. International Monetary Fund (IMF) | Public Finances in Modern History (1950–1999, retrieved 2026-07-08)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  5. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  7. LivingCost (2026, retrieved 2026-07-08)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

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.