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Economy of Bhutan vs Costa Rica compared: GDP & Debt

Updated on by Georank

Bhutan has a GDP of $3.58B compared to $103B for Costa Rica, ranking 167/197 and 74/197 by economy size, respectively.

Bhutan has $3.71B in government debt (103.6% of GDP), compared to $62.2B (60.4% of GDP) in Costa Rica.

Bhutan vs Costa Rica GDP by year

Bhutan
Costa Rica
1x
Year GDP, current $
Bhutan Costa Rica
2025 $3,579,320,145 $102,904,921,157
2024 $3,346,603,859 $96,715,644,331
2023 $3,012,896,790 $87,512,637,056
2022 $2,898,227,744 $71,001,226,361
2021 $2,768,802,960 $65,588,938,787
2020 $2,457,604,334 $62,806,591,555
2019 $2,735,683,570 $64,753,504,730
2018 $2,583,335,722 $62,567,765,946
2017 $2,591,358,009 $60,516,044,661
2016 $2,357,504,761 $58,847,019,588
2015 $2,187,815,803 $56,441,920,888
2014 $2,089,079,571 $52,016,408,816
2013 $1,943,696,952 $50,949,668,763
2012 $1,973,387,228 $47,231,655,493
2011 $1,977,728,659 $42,762,613,785
2010 $1,708,880,730 $37,658,616,966
2009 $1,331,343,798 $30,745,714,234
2008 $1,317,517,835 $30,801,745,703
2007 $1,255,767,964 $26,884,700,688
2006 $942,879,879 $22,715,540,342
2005 $860,391,000 $20,040,642,421
2004 $735,348,490 $18,610,594,844
2003 $651,935,430 $17,271,760,397
2002 $559,345,264 $16,578,820,799
2001 $496,110,226 $15,976,174,476
2000 $460,733,418 $15,013,629,579
1999 $399,311,200 $14,254,866,284
1998 $363,458,381 $13,684,255,998
1997 $352,229,077 $12,614,602,322
1996 $303,408,346 $11,678,424,727
1995 $290,490,984 $11,578,594,333
1994 $258,954,708 $10,489,903,834
1993 $225,973,693 $9,564,816,063
1992 $240,233,531 $8,579,754,953
1991 $240,294,286 $7,215,725,635
1990 $287,765,007 $5,711,687,787
1989 $264,798,626 $5,251,025,767
1988 $272,298,067 $4,614,629,898
1987 $242,742,766 $4,532,952,047
1986 $191,218,115 $4,418,983,871
1985 $163,288,815 $3,919,203,960
1984 $160,423,494 $3,660,477,856
1983 $156,704,290 $3,146,772,631
1982 $141,439,317 $2,606,623,555
1981 $139,174,178 $2,623,803,096
1980 $128,669,201 $4,831,447,001
1979 $105,377,995 $4,035,519,323
1978 $94,086,228 $3,523,208,810
1977 $97,884,434 $3,072,427,013
1976 $88,461,263 $2,412,555,426
1975 $86,820,762 $1,960,863,466
1974 $92,901,784 $1,666,544,754
1973 $78,900,289 $1,528,925,846
1972 $70,139,867 $1,238,251,696
1971 $66,289,450 $1,077,147,538
1970 $61,812,113 $984,830,158
1969 - $853,630,204
1968 - $773,841,494
1967 - $699,456,619
1966 - $647,305,630
1965 - $592,981,162
1964 - $542,578,367
1963 - $511,902,137
1962 - $479,180,824
1961 - $490,325,182
1960 - $507,513,830

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

GeoRank.org/economy/bhutan/costa-rica | CC BY

GDP per capita in Bhutan vs Costa Rica by year

Bhutan
GDP per capita

GDP per capita, PPP
Costa Rica
GDP per capita

GDP per capita, PPP
1x
Year Current $
Bhutan Costa Rica
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $4,493 - $19,970 -
2024 $4,228 - $18,853 $31,107
2023 $3,831 $16,215 $17,141 $28,909
2022 $3,711 $15,064 $13,972 $26,226
2021 $3,571 $13,459 $12,962 $23,853
2020 $3,192 $12,475 $12,476 $22,100
2019 $3,577 $12,909 $12,952 $23,340
2018 $3,400 $11,970 $12,620 $21,498
2017 $3,435 $11,677 $12,317 $20,499
2016 $3,152 $11,273 $12,091 $19,202
2015 $2,954 $10,214 $11,715 $17,525
2014 $2,849 $9,323 $10,911 $16,394
2013 $2,680 $8,667 $10,803 $15,232
2012 $2,751 $8,577 $10,127 $14,464
2011 $2,788 $7,935 $9,276 $13,614
2010 $2,436 $7,246 $8,266 $12,928
2009 $1,918 $6,466 $6,833 $12,274
2008 $1,920 $6,035 $6,937 $12,472
2007 $1,850 $5,729 $6,138 $11,842
2006 $1,406 $4,860 $5,257 $10,800
2005 $1,300 $4,523 $4,703 $9,899
2004 $1,130 $4,173 $4,431 $9,365
2003 $1,022 $3,942 $4,173 $8,863
2002 $896 $3,663 $4,068 $8,461
2001 $812 $3,338 $3,985 $8,190
2000 $772 $3,113 $3,813 $7,879
1999 $685 $3,017 $3,691 $7,563
1998 $638 $2,819 $3,617 $7,306
1997 $630 $2,683 $3,408 $6,890
1996 $553 $2,548 $3,227 $6,568
1995 $530 $2,374 $3,275 $6,515
1994 $467 $2,146 $3,040 $6,276
1993 $407 $2,001 $2,840 $6,025
1992 $416 $1,840 $2,612 $5,635
1991 $401 $1,657 $2,253 $5,175
1990 $488 $1,638 $1,830 $5,021
1989 $462 - $1,725 -
1988 $489 - $1,555 -
1987 $449 - $1,567 -
1986 $365 - $1,569 -
1985 $321 - $1,429 -
1984 $326 - $1,372 -
1983 $328 - $1,213 -
1982 $306 - $1,032 -
1981 $311 - $1,068 -
1980 $296.9 - $2,021 -
1979 $251.4 - $1,735 -
1978 $232.2 - $1,556 -
1977 $249.9 - $1,393 -
1976 $233.7 - $1,123 -
1975 $237.4 - $937 -
1974 $262.8 - $817 -
1973 $230.9 - $769 -
1972 $212.4 - $639 -
1971 $207.7 - $570 -
1970 $200.3 - $536 -
1969 - - $477 -
1968 - - $445 -
1967 - - $414 -
1966 - - $395 -
1965 - - $374 -
1964 - - $354 -
1963 - - $346 -
1962 - - $335 -
1961 - - $356 -
1960 - - $382 -

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

GeoRank.org/economy/bhutan/costa-rica | CC BY

Bhutan's GDP per capita is $4,493, ranking 128/197, compared to $19,970 in Costa Rica, ranking 59/197. Adjusted for purchasing power (GDP per capita PPP), Bhutan ranks 109th at $16,215, while Costa Rica ranks 72nd at $31,107.

Economic indicators

Bhutan Costa Rica
Gross domestic product
$3.58B
2025
$103B
2025
GDP rank
167/197
2025
74/197
2025
GDP growth
8.01%
2024-2025
4.56%
2024-2025
GDP per capita
$4,493
2025
$19,970
2025
GDP per capita rank
128/197
2025
59/197
2025
GDP per capita, PPP
$16,215
2023
$31,107
2024
GDP per capita PPP rank
109/197
2023
72/197
2024
Government debt
$3.71B
2025
$62.2B
2025
Debt-to-GDP ratio
103.6%
2025
60.4%
2025
Government debt per person
$4,655
2025
$12,064
2025
Government debt per person rank
88/185
2025
51/185
2025
Average annual personal income after taxes
$4,215
2026
$12,879
2026
Market capitalization of domestic companies n/a
$2.23B
2022
Income share by richest 10%
22.7%
2022
34.3%
2025
Income share by poorest 10%
3.6%
2022
1.8%
2025
Government expenditure, % of GDP
30.5%
2025
17.8%
2025
Consumer prices inflation
2.6%
2024-2025
-0.07%
2024-2025
Central bank interest rate n/a
3.5%
2025
Unemployment rate
3.36%
2025
6.34%
2025
Population
805057
5186356

Spending and national debt comparison by year

Bhutan
Spending

Debt
Costa Rica
Spending

Debt
1x
Year % of GDP
Bhutan Costa Rica
Government spending Government debt Government spending Government debt
2025 30.5% 103.6% 17.8% 60.4%
2024 28.3% 108.7% 18.6% 58.9%
2023 28.9% 117.2% 18.3% 60.4%
2022 32.1% 119.9% 18.7% 61.4%
2021 36.6% 124.5% 20.6% 67%
2020 30.9% 116% 22.1% 66.5%
2019 24.2% 100.8% 21.6% 56.1%
2018 31.7% 103.4% 18.9% 51.7%
2017 30.6% 104.1% 19.2% 47.1%
2016 30.5% 103% 18.8% 44.1%
2015 27.5% 90.2% 18.8% 39.8%
2014 28.9% 89.8% 18.4% 37.4%
2013 32.5% 87.4% 18.5% 35.1%
2012 35.1% 71.5% 17.3% 33.7%
2011 36.1% 62.3% 17.2% 29.5%
2010 41.5% 55.8% 18% 28.1%
2009 39.3% 61% 16.7% 26%
2008 36.1% 60.6% 15.2% 24%
2007 33.2% 67.3% 14.6% 27%
2006 33.4% 80.1% 15.2% 33%
2005 36.4% 80.8% 15.9% 37.3%
2004 31% 76% 17% 41%
2003 34.7% 68.5% 17.6% 40.6%
2002 39.3% 57.7% 18.6% 41.4%
2001 50.3% 52.4% 17.3% 39.6%
2000 43% 44% 16.9% 38.9%
1999 40.2% 39.2% 16.7% 39%
1998 31.1% 36.4% 16% 40.7%
1997 37.8% 33% 16.3% 30.6%
1996 37.9% 36.8% 17.3% 33.7%
1995 38.6% 38.7% 16.4% 29.1%
1994 37.9% 53.2% 17.4% 27%
1993 35.2% 60.2% 13.8% 24.4%
1992 34.5% 35.6% 13.7% 23.3%
1991 30.8% 33.5% 14% 28.4%
1990 35.8% 27.4% 18.9% 18.5%
1989 46.8% 26.4% 26.1% 19.3%
1988 45.3% 24.7% 24.5% 18.2%
1987 47.5% 17.3% 27.2% 21.2%
1986 - - 26.4% 26.1%
1985 - - 21.8% 22.8%
1984 - - 22.8% 25.2%
1983 - - 23.6% 29.8%
1982 - - 18.4% 31.8%
1981 - - 21% 32.3%
1980 - - 25% 37.7%
1979 - - 24.9% 39.5%
1978 - - 23.2% 41.7%
1977 - - 19.3% 27.8%
1976 - - 20.1% 29.5%
1975 - - 19.1% 26.1%
1974 - - 18.3% 30.3%
1973 - - 18.4% 32.8%
1972 - - 17.2% 31.8%
1971 - - 17.5% 30.4%
1970 - - 14.9% 28.6%
1969 - - 14.5% 26.1%
1968 - - 13.8% 27.7%
1967 - - 14.7% 26.7%
1966 - - 14.3% 24.8%
1965 - - 13.8% 24.1%
1964 - - 13.5% 22.7%
1963 - - 13.3% 21.8%
1962 - - 14% 19.7%
1961 - - 13.2% 20.3%
1960 - - 12.5% 16.1%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1995, retrieved 2026-07-08).

GeoRank.org/economy/bhutan/costa-rica | CC BY

In 2025, Bhutan's government spending was $1.09B, accounting for 30.5% of its GDP, while Costa Rica spent $18.3B, or 17.8% of GDP.

Debt-to-GDP ratio is 103.6% in Bhutan and 60.4% in Costa Rica, ranking 19/185 and 77/185, respectively.

Government deficit by year

Deficit/surplus
Bhutan

Costa Rica
1x
Year Deficit/surplus, % of GDP
Bhutan Costa Rica
2025 -2.7% -3.35%
2024 -1.79% -3.73%
2023 -4.73% -3.21%
2022 -6.95% -2.74%
2021 -5.76% -5.04%
2020 -1.81% -8.32%
2019 -1.49% -6.65%
2018 -1.52% -5.65%
2017 -4.49% -5.88%
2016 -2.31% -5.09%
2015 -0.49% -5.52%
2014 2.46% -5.45%
2013 -4.55% -5.25%
2012 -2.1% -4.22%
2011 -3.02% -3.91%
2010 1.92% -4.96%
2009 -0.8% -3.25%
2008 -2.57% 0.18%
2007 0.79% 0.56%
2006 -0.07% -1.04%
2005 -6.96% -2.09%
2004 1.8% -3.42%
2003 -10.2% -3.43%
2002 -4.33% -4.99%
2001 -12.2% -3.47%
2000 -3.39% -3.68%
1999 -1.28% -2.88%
1998 1.28% -2.96%
1997 -1.92% -3.39%
1996 2.55% -4.32%
1995 -0.88% -3.68%
1994 -0.13% -5.46%
1993 4.71% -1.52%
1992 -3.47% -1.51%
1991 -0.48% -2.41%
1990 -7.21% -4.4%
1989 -10.1% -1.55%
1988 1.33% 0.57%
1987 -0.56% -2.57%
1986 - -4.26%
1985 - -1.06%
1984 - -0.5%
1983 - -1.84%
1982 - -0.94%
1981 - -3.14%
1980 - -7.24%
1979 - -6.6%
1978 - -4.12%
1977 - -2.63%
1976 - -2.42%
1975 - -1.13%
1974 - 0.26%
1973 - -2.41%
1972 - -4.54%
1971 - -4.72%
1970 - -1.41%
1969 - -1.61%
1968 - -1.72%
1967 - -3.03%
1966 - -2.12%
1965 - -1.71%
1964 - -1.51%
1963 - -2.01%
1962 - -1.99%
1961 - -0.71%
1960 - -0.19%
1959 - 0.49%
1958 - 0%
1957 - 0.3%
1956 - 0.05%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1956–1989, retrieved 2026-07-08).

GeoRank.org/economy/bhutan/costa-rica | 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 Costa Rica's deficit of $3.45B, or 3.35% of GDP.

Over the past 39 years, Bhutan recorded a fiscal deficit in 31 of those years, while Costa Rica ran a deficit in 36 years. On average, Bhutan posted an annual deficit equal to 2.4% of GDP, compared to deficit of 3.58% of GDP for Costa Rica.

Inflation comparison by year

Inflation
Bhutan

Costa Rica
1x
Year Consumer prices inflation
Bhutan Costa Rica
2025 2.6% -0.07%
2024 4.3% -0.41%
2023 4.5% 0.53%
2022 5.9% 8.27%
2021 8.2% 1.73%
2020 3% 0.72%
2019 2.8% 2.1%
2018 3.6% 2.22%
2017 4.3% 1.63%
2016 3.3% -0.02%
2015 6.7% 0.8%
2014 9.6% 4.52%
2013 8.1% 5.23%
2012 10.1% 4.5%
2011 8.6% 4.88%
2010 4.8% 5.66%
2009 7.1% 7.84%
2008 6.3% 13.4%
2007 5.2% 9.36%
2006 4.9% 11.5%
2005 4.8% 13.8%
2004 3.3% 12.3%
2003 2.5% 9.45%
2002 2.9% 9.17%
2001 3.7% 11.3%
2000 7.2% 11%
1999 9.1% 10%
1998 7.6% 11.7%
1997 8.6% 13.2%

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/costa-rica | CC BY

Over the past 29 years, Bhutan has recorded an average annual inflation rate of 5.64%, compared with 6.42% in Costa Rica. In 2025, inflation was 2.6% in Bhutan and -0.07% in Costa Rica.

Balance of trade

Bhutan Costa Rica
Current account balance
-$649M
2024
-$687M
2025
Current account balance ranking
105/190
2024
108/190
2025
Current account balance, % of GDP
-19.4%
2024
-0.67%
2025
Goods imports
$1.28B
2024
$24.4B
2025
Goods exports
$660M
2024
$23.5B
2025
Service imports
$228M
2024
$8.64B
2025
Service exports
$288M
2024
$18.1B
2025
Imports of goods and services, % of GDP
47.9%
2024
32.6%
2025
Exports of goods and services, % of GDP
31.5%
2024
38.8%
2025

Economic freedom indices

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

Bhutan Costa Rica
Economic freedom 57.5 69.1
Economic freedom ranking 115/197 43/197
Property rights 69.2 66
Government integrity 72.2 64.1
Judicial effectiveness 61.8 76.9
Tax burden 83.4 78.6
Government spending 74.1 89.3
Fiscal health 25.8 75.6
Business freedom 67.8 79.9
Labor freedom 60.1 55.9
Monetary freedom 71.6 78.2
Trade freedom 63.4 75
Investment freedom 20 50
Financial freedom 20 40

Economic freedom comparison by year

Bhutan
Costa Rica
1x
Year Economic freedom index
Bhutan Costa Rica
2026 57.5 69.1
2025 57.5 68.6
2024 55.4 67.7
2023 59 66.5
2022 59.3 65.4
2021 58.3 64.2
2020 62.1 65.8
2019 62.9 65.3
2018 61.8 65.6
2017 58.4 65
2016 59.5 67.4
2015 57.4 67.2
2014 56.7 66.9
2013 55 67
2012 56.6 68
2011 57.6 67.3
2010 57 65.9
2009 57.7 66.4
2008 - 64.2
2007 - 64
2006 - 65.9
2005 - 66.1
2004 - 66.4
2003 - 67
2002 - 67.5
2001 - 67.6
2000 - 68.4
1999 - 67.4
1998 - 65.6
1997 - 65.6
1996 - 66.4
1995 - 68

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

GeoRank.org/economy/bhutan/costa-rica | CC BY

The Economic Freedom Index for Bhutan is 57.5, ranking 115/197, compared to 69.1 for Costa Rica, ranking 43/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Bhutan Costa Rica
Services, % of GDP
53.2%
2025
69.2%
2025
Industry, % of GDP
33.2%
2025
19.9%
2025
Agriculture, forestry, and fishing, % of GDP
13.7%
2025
3.37%
2025
GNI, Atlas method
$3.43B
2025
$92.4B
2025
GNI per capita, PPP
$18,520
2025
$30,760
2025
Total reserves including gold
$1.19B
2025
$17.1B
2025
Total reserves ranking
140/177
2025
70/177
2025
Net foreign direct investment
-$2.82M
2024
-$5.12B
2025
Net inflows of foreign direct investment
$2.82M
2024
$5.4B
2024
Net outflows of foreign direct investment
$0
2024
$337M
2024
Servicing debt to the IMF, % of GNI
5.11%
2024
6.31%
2023
Poverty at national poverty lines
12.4%
2022
17.1%
2025
Gross capital formation, % of GDP
42.6%
2024
15.8%
2025

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/costa-rica | 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 (1956–1995, 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.