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Economy of Bhutan vs Costa Rica compared: GDP & Debt

Updated on by Georank team

Bhutan has a GDP of $3.01B compared to $95.4B for Costa Rica, ranking 170/197 and 73/197 by economy size, respectively.

Bhutan has $3.53B in government debt (110.4% of GDP), compared to $57B (59.8% of GDP) in Costa Rica.

Bhutan vs Costa Rica GDP by year

Bhutan
Costa Rica
1x
Year GDP, current $
Bhutan Costa Rica
2024 - $95,350,423,177
2023 $3,012,896,789 $86,497,941,439
2022 $2,898,227,744 $69,243,626,029
2021 $2,768,802,960 $64,960,725,734
2020 $2,457,604,334 $62,395,610,760
2019 $2,735,683,570 $64,417,670,521
2018 $2,583,335,722 $62,420,164,992
2017 $2,591,358,009 $60,516,044,657
2016 $2,357,504,761 $58,847,019,610
2015 $2,187,815,803 $56,441,920,821
2014 $2,089,079,571 $52,016,408,854
2013 $1,943,696,952 $50,949,668,842
2012 $1,973,387,228 $47,231,655,432
2011 $1,977,728,659 $42,762,613,699
2010 $1,708,880,730 $37,658,616,952
2009 $1,331,343,798 $30,745,714,313
2008 $1,317,517,835 $30,801,745,700
2007 $1,255,767,964 $26,884,700,709
2006 $942,879,879 $22,715,540,324
2005 $860,391,000 $20,040,642,477
2004 $735,348,490 $18,610,594,846
2003 $651,935,430 $17,271,760,507
2002 $559,345,264 $16,578,820,687
2001 $496,110,226 $15,976,174,337
2000 $460,733,418 $15,013,629,662
1999 $399,311,200 $14,254,866,285
1998 $363,458,381 $13,684,255,947
1997 $352,229,077 $12,614,602,382
1996 $303,408,346 $11,678,424,507
1995 $290,490,984 $11,578,594,260
1994 $258,954,708 $10,489,903,725
1993 $225,973,693 $9,564,815,975
1992 $240,233,531 $8,579,754,758
1991 $240,294,286 $7,215,725,487
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 (1960–2024, retrieved 2026-04-06).

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
2024 - - $18,587 $31,107
2023 $3,831 $16,215 $16,942 $28,909
2022 $3,711 $15,064 $13,626 $26,226
2021 $3,571 $13,459 $12,838 $23,853
2020 $3,192 $12,475 $12,394 $22,100
2019 $3,577 $12,909 $12,885 $23,340
2018 $3,400 $11,970 $12,590 $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 (1960–2024, retrieved 2026-04-06).

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

Bhutan's GDP per capita is $3,831, ranking 132/197, compared to $18,587 in Costa Rica, ranking 62/197. 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
$3.01B
2023
$95.4B
2024
GDP rank
170/197
2023
73/197
2024
GDP growth
4.63%
2022-2023
4.32%
2023-2024
GDP per capita
$3,831
2023
$18,587
2024
GDP per capita rank
132/197
2023
62/197
2024
GDP per capita, PPP
$16,215
2023
$31,107
2024
GDP per capita PPP rank
109/197
2023
72/197
2024
Government debt
$3.53B
2023
$57B
2024
Debt-to-GDP ratio
110.4%
2024
59.8%
2024
Government debt per person
$4,485
2023
$11,106
2024
Government debt per person rank
87/185
2023
50/185
2024
Average annual personal income after taxes
$5,506
2026
$12,150
2026
Market capitalization of domestic companies n/a
$2.23B
2022
Income share by richest 10%
22.7%
2022
34.2%
2024
Income share by poorest 10%
3.6%
2022
1.7%
2024
Government expenditure, % of GDP
27.1%
2024
18.9%
2024
Consumer prices inflation
4.3%
2023-2024
-0.41%
2023-2024
Central bank interest rate n/a
3.5%
2025
Unemployment rate
3.28%
2024
6.94%
2024
Population
803385
5181862

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
2024 27.1% 110.4% 18.9% 59.8%
2023 28.8% 117.1% 18.5% 61.1%
2022 32.1% 119.9% 19.2% 63%
2021 36.6% 124.5% 20.8% 67.6%
2020 30.9% 116% 22.3% 66.9%
2019 24.2% 100.8% 21.7% 56.4%
2018 31.7% 103.4% 18.9% 51.8%
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 (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1995, retrieved 2026-02-20).

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

In 2024, Bhutan's government spending was $869M, accounting for 27.1% of its GDP, while Costa Rica spent $18B, or 18.9% of GDP.

Debt-to-GDP ratio is 110.4% in Bhutan and 59.8% in Costa Rica, ranking 17/185 and 79/185, respectively.

Government deficit by year

Deficit/surplus
Bhutan

Costa Rica
1x
Year Deficit/surplus, % of GDP
Bhutan Costa Rica
2024 -0.17% -3.78%
2023 -4.73% -3.25%
2022 -6.95% -2.81%
2021 -5.76% -5.09%
2020 -1.81% -8.38%
2019 -1.49% -6.68%
2018 -1.52% -5.66%
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 (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1956–1989, retrieved 2026-02-20).

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

In 2023, Bhutan's government deficit, the difference between spending and revenue, was $142M, equivalent to 4.73% of GDP. This compares to Costa Rica's deficit of $2.81B, or 3.25% of GDP.

Over the past 37 years, Bhutan recorded a fiscal deficit in 29 of those years, while Costa Rica ran a deficit in 34 years. On average, Bhutan posted an annual deficit equal to 2.4% of GDP, compared to deficit of 3.59% of GDP for Costa Rica.

Inflation comparison by year

Inflation
Bhutan

Costa Rica
1x
Year Consumer prices inflation
Bhutan Costa Rica
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 (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

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

Over the past 28 years, Bhutan has recorded an average annual inflation rate of 5.75%, compared with 6.66% in Costa Rica. In 2024, inflation was 4.3% in Bhutan and -0.41% in Costa Rica.

Balance of trade

Bhutan Costa Rica
Current account balance
-$670M
2024
-$1.25B
2024
Current account balance ranking
114/190
2024
129/190
2024
Current account balance, % of GDP
-32%
2023
-1.31%
2024
Goods imports
$1.29B
2024
$23.1B
2024
Goods exports
$656M
2024
$20.6B
2024
Service imports
$228M
2024
$7.58B
2024
Service exports
$288M
2024
$16.3B
2024
Imports of goods and services, % of GDP
53.3%
2023
32.8%
2024
Exports of goods and services, % of GDP
28.4%
2023
38.5%
2024

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 2026-03-09).

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
52.8%
2023
68.8%
2024
Industry, % of GDP
29.4%
2023
19.7%
2024
Agriculture, forestry, and fishing, % of GDP
15%
2023
3.56%
2024
GNI, Atlas method
$2.93B
2023
$80.2B
2024
GNI per capita, PPP
$15,320
2023
$28,840
2024
Total reserves including gold
$941M
2024
$14.2B
2024
Total reserves ranking
143/177
2024
70/177
2024
Net foreign direct investment
-$22.8M
2024
-$4.96B
2024
Net inflows of foreign direct investment
$2.82M
2024
$5.3B
2024
Net outflows of foreign direct investment
$0
2024
$337M
2024
Servicing debt to the IMF, % of GNI
4.96%
2023
6.31%
2023
Poverty at national poverty lines
12.4%
2022
20.3%
2024
Gross capital formation, % of GDP
45.3%
2023
15.7%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

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

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. International Monetary Fund (IMF) | Public Finances in Modern History (1956–1995, retrieved 2026-02-20)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. LivingCost (2026, retrieved 2025-10-14)

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.