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Economy of Bhutan vs El Salvador compared: GDP & Debt

Updated on by Georank team

Bhutan has a GDP of $3.01B compared to $35.4B for El Salvador, ranking 170/197 and 105/197 by economy size, respectively.

Bhutan has $3.53B in government debt (110.4% of GDP), compared to $30.9B (87.5% of GDP) in El Salvador.

Bhutan vs El Salvador GDP by year

Bhutan
El Salvador
1x
Year GDP, current $
Bhutan El Salvador
2024 - $35,364,960,000
2023 $3,012,896,789 $33,853,940,000
2022 $2,898,227,744 $31,870,120,000
2021 $2,768,802,960 $29,043,140,000
2020 $2,457,604,334 $24,921,190,000
2019 $2,735,683,570 $26,881,140,000
2018 $2,583,335,722 $26,020,850,000
2017 $2,591,358,009 $24,979,190,000
2016 $2,357,504,761 $24,191,430,000
2015 $2,187,815,803 $23,438,240,000
2014 $2,089,079,571 $22,593,470,000
2013 $1,943,696,952 $21,990,960,000
2012 $1,973,387,228 $21,386,150,000
2011 $1,977,728,659 $20,283,780,000
2010 $1,708,880,730 $18,447,920,000
2009 $1,331,343,798 $17,601,620,000
2008 $1,317,517,835 $17,986,890,000
2007 $1,255,767,964 $17,011,750,000
2006 $942,879,879 $15,999,890,000
2005 $860,391,000 $14,698,000,000
2004 $735,348,490 $13,724,810,900
2003 $651,935,430 $13,243,892,200
2002 $559,345,264 $12,664,190,300
2001 $496,110,226 $12,282,533,600
2000 $460,733,418 $11,784,927,700
1999 $399,311,200 $11,284,197,000
1998 $363,458,381 $10,936,669,900
1997 $352,229,077 $10,221,705,900
1996 $303,408,346 $9,586,327,800
1995 $290,490,984 $8,921,947,100
1994 $258,954,708 $7,679,384,000
1993 $225,973,693 $6,680,269,200
1992 $240,233,531 $5,813,399,300
1991 $240,294,286 $5,252,342,400
1990 $287,765,007 $4,817,542,204
1989 $264,798,626 $4,372,215,300
1988 $272,298,067 $4,189,880,000
1987 $242,742,766 $3,958,045,800
1986 $191,218,115 $3,771,663,200
1985 $163,288,815 $3,800,368,600
1984 $160,423,494 $3,661,683,400
1983 $156,704,290 $3,506,347,800
1982 $141,439,317 $3,399,189,100
1981 $139,174,178 $3,437,200,200
1980 $128,669,201 $3,573,959,900
1979 $105,377,995 $3,463,639,900
1978 $94,086,228 $3,127,960,000
1977 $97,884,434 $2,941,640,100
1976 $88,461,263 $2,328,280,100
1975 $86,820,762 $1,884,120,100
1974 $92,901,784 $1,665,880,000
1973 $78,900,289 $1,442,320,000
1972 $70,139,867 $1,263,720,000
1971 $66,289,450 $1,186,120,000
1970 $61,812,113 $1,132,920,000
1969 - $1,049,400,000
1968 - $1,009,760,100
1967 - $976,200,000
1966 - $929,520,000
1965 - $877,720,000

Data sources: World Bank | Economy & Growth (1965–2024, retrieved 2026-04-06).

GeoRank.org/economy/bhutan/el-salvador | CC BY

GDP per capita in Bhutan vs El Salvador by year

Bhutan
GDP per capita

GDP per capita, PPP
El Salvador
GDP per capita

GDP per capita, PPP
1x
Year Current $
Bhutan El Salvador
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 - - $5,580 $13,264
2023 $3,831 $16,215 $5,365 $12,680
2022 $3,711 $15,064 $5,075 $11,876
2021 $3,571 $13,459 $4,643 $10,810
2020 $3,192 $12,475 $3,997 $9,393
2019 $3,577 $12,909 $4,320 $9,757
2018 $3,400 $11,970 $4,184 $9,204
2017 $3,435 $11,677 $4,020 $8,965
2016 $3,152 $11,273 $3,901 $8,456
2015 $2,954 $10,214 $3,790 $7,934
2014 $2,849 $9,323 $3,666 $7,504
2013 $2,680 $8,667 $3,582 $7,093
2012 $2,751 $8,577 $3,498 $6,708
2011 $2,788 $7,935 $3,331 $6,594
2010 $2,436 $7,246 $3,040 $6,248
2009 $1,918 $6,466 $2,910 $6,063
2008 $1,920 $6,035 $2,983 $6,175
2007 $1,850 $5,729 $2,831 $5,949
2006 $1,406 $4,860 $2,666 $5,695
2005 $1,300 $4,523 $2,447 $5,292
2004 $1,130 $4,173 $2,286 $4,998
2003 $1,022 $3,942 $2,208 $4,829
2002 $896 $3,663 $2,115 $4,672
2001 $812 $3,338 $2,058 $4,543
2000 $772 $3,113 $1,983 $4,422
1999 $685 $3,017 $1,908 $4,298
1998 $638 $2,819 $1,860 $4,171
1997 $630 $2,683 $1,749 $4,043
1996 $553 $2,548 $1,651 $3,880
1995 $530 $2,374 $1,548 $3,808
1994 $467 $2,146 $1,344 $3,591
1993 $407 $2,001 $1,180 $3,390
1992 $416 $1,840 $1,041 $3,171
1991 $401 $1,657 $956 $2,945
1990 $488 $1,638 $892 $2,856
1989 $462 - $825 -
1988 $489 - $806 -
1987 $449 - $777 -
1986 $365 - $755 -
1985 $321 - $776 -
1984 $326 - $763 -
1983 $328 - $745 -
1982 $306 - $735 -
1981 $311 - $752 -
1980 $296.9 - $787 -
1979 $251.4 - $773 -
1978 $232.2 - $712 -
1977 $249.9 - $684 -
1976 $233.7 - $553 -
1975 $237.4 - $457 -
1974 $262.8 - $413 -
1973 $230.9 - $366 -
1972 $212.4 - $329 -
1971 $207.7 - $316 -
1970 $200.3 - $309 -
1969 - - $293.4 -
1968 - - $290.1 -
1967 - - $288.4 -
1966 - - $282.4 -
1965 - - $274.3 -

Data sources: World Bank | Economy & Growth (1965–2024, retrieved 2026-04-06).

GeoRank.org/economy/bhutan/el-salvador | CC BY

Bhutan's GDP per capita is $3,831, ranking 132/197, compared to $5,580 in El Salvador, ranking 116/197. Adjusted for purchasing power (GDP per capita PPP), Bhutan ranks 109th at $16,215, while El Salvador ranks 120th at $13,264.

Economic indicators

Bhutan El Salvador
Gross domestic product
$3.01B
2023
$35.4B
2024
GDP rank
170/197
2023
105/197
2024
GDP growth
4.63%
2022-2023
2.6%
2023-2024
GDP per capita
$3,831
2023
$5,580
2024
GDP per capita rank
132/197
2023
116/197
2024
GDP per capita, PPP
$16,215
2023
$13,264
2024
GDP per capita PPP rank
109/197
2023
120/197
2024
Government debt
$3.53B
2023
$30.9B
2024
Debt-to-GDP ratio
110.4%
2024
87.5%
2024
Government debt per person
$4,485
2023
$4,883
2024
Government debt per person rank
87/185
2023
81/185
2024
Average annual personal income after taxes
$5,506
2026
$4,768
2026
Income share by richest 10%
22.7%
2022
29.7%
2023
Income share by poorest 10%
3.6%
2022
1.9%
2023
Government expenditure, % of GDP
27.1%
2024
31.4%
2024
Consumer prices inflation
4.3%
2023-2024
0.85%
2023-2024
Unemployment rate
3.28%
2024
2.71%
2024
Population
803385
6399793

Spending and national debt comparison by year

Bhutan
Spending

Debt
El Salvador
Spending

Debt
1x
Year % of GDP
Bhutan El Salvador
Government spending Government debt Government spending Government debt
2024 27.1% 110.4% 31.4% 87.5%
2023 28.8% 117.1% 30.5% 85.1%
2022 32.1% 119.9% 28.7% 83.7%
2021 36.6% 124.5% 31.1% 88%
2020 30.9% 116% 32.7% 95.4%
2019 24.2% 100.8% 27.8% 77.9%
2018 31.7% 103.4% 27.6% 77%
2017 30.6% 104.1% 28.1% 77.1%
2016 30.5% 103% 27.5% 75.2%
2015 27.5% 90.2% 27.1% 73.5%
2014 28.9% 89.8% 27.6% 71.8%
2013 32.5% 87.4% 28.5% 69.7%
2012 35.1% 71.5% 27.4% 70%
2011 36.1% 62.3% 25.3% 65.6%
2010 41.5% 55.8% 25.6% 66.8%
2009 39.3% 61% 26% 65.8%
2008 36.1% 60.6% 24.5% 54.2%
2007 33.2% 67.3% 22.8% 52.2%
2006 33.4% 80.1% 23.4% 52.6%
2005 36.4% 80.8% 22.4% 46.3%
2004 31% 76% 21.5% 46.8%
2003 34.7% 68.5% 22.6% 46%
2002 39.3% 57.7% 22.5% 43.8%
2001 50.3% 52.4% 21.7% 37.8%
2000 43% 44% 21% 29.6%
1999 40.2% 39.2% 19.7% 28%
1998 31.1% 36.4% 19.3% 25.7%
1997 37.8% 33% 18.6% 27.8%
1996 37.9% 36.8% 21% 28.5%
1995 38.6% 38.7% 18.6% 28%
1994 37.9% 53.2% 18.9% 30.5%
1993 35.2% 60.2% 18.5% 31.9%
1992 34.5% 35.6% 20.8% 36.4%
1991 30.8% 33.5% 18.5% 43.3%
1990 35.8% 27.4% 15.9% -
1989 46.8% 26.4% - -
1988 45.3% 24.7% - -
1987 47.5% 17.3% - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1987–1992, retrieved 2026-02-20).

GeoRank.org/economy/bhutan/el-salvador | CC BY

In 2024, Bhutan's government spending was $869M, accounting for 27.1% of its GDP, while El Salvador spent $11.1B, or 31.4% of GDP.

Debt-to-GDP ratio is 110.4% in Bhutan and 87.5% in El Salvador, ranking 17/185 and 36/185, respectively.

Government deficit by year

Deficit/surplus
Bhutan

El Salvador
1x
Year Deficit/surplus, % of GDP
Bhutan El Salvador
2024 -0.17% -4.55%
2023 -4.73% -4.69%
2022 -6.95% -2.68%
2021 -5.76% -5.53%
2020 -1.81% -8.18%
2019 -1.49% -3.07%
2018 -1.52% -2.71%
2017 -4.49% -2.53%
2016 -2.31% -3.1%
2015 -0.49% -3.63%
2014 2.46% -4.02%
2013 -4.55% -4.46%
2012 -2.1% -3.81%
2011 -3.02% -4.47%
2010 1.92% -4.97%
2009 -0.8% -6.65%
2008 -2.57% -3.8%
2007 0.79% -2.32%
2006 -0.07% -3.42%
2005 -6.96% -3.47%
2004 1.8% -2.76%
2003 -10.2% -4.23%
2002 -4.33% -5.5%
2001 -12.2% -4.95%
2000 -3.39% -3.45%
1999 -1.28% -3.08%
1998 1.28% -2.94%
1997 -1.92% -1.97%
1996 2.55% -2.7%
1995 -0.88% -0.18%
1994 -0.13% -0.94%
1993 4.71% -1.42%
1992 -3.47% -4.29%
1991 -0.48% -2.3%
1990 -7.21% -0.61%
1989 -10.1% -
1988 1.33% -
1987 -0.56% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1987–1989, retrieved 2026-02-20).

GeoRank.org/economy/bhutan/el-salvador | 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 El Salvador's deficit of $1.59B, or 4.69% of GDP.

Over the past 34 years, Bhutan recorded a fiscal deficit in 27 of those years, while El Salvador ran a deficit in 34 years. On average, Bhutan posted an annual deficit equal to 2.34% of GDP, compared to deficit of 3.49% of GDP for El Salvador.

Inflation comparison by year

Inflation
Bhutan

El Salvador
1x
Year Consumer prices inflation
Bhutan El Salvador
2024 4.3% 0.85%
2023 4.5% 4.05%
2022 5.9% 7.2%
2021 8.2% 3.47%
2020 3% -0.37%
2019 2.8% 0.08%
2018 3.6% 1.09%
2017 4.3% 1.01%
2016 3.3% 0.6%
2015 6.7% -0.73%
2014 9.6% 1.14%
2013 8.1% 0.76%
2012 10.1% 1.73%
2011 8.6% 5.13%
2010 4.8% 1.18%
2009 7.1% 1.06%
2008 6.3% 6.71%
2007 5.2% 4.58%
2006 4.9% 4.04%
2005 4.8% 4.69%
2004 3.3% 4.45%
2003 2.5% 2.12%
2002 2.9% 1.87%
2001 3.7% 3.75%
2000 7.2% 2.27%
1999 9.1% 0.51%
1998 7.6% 2.55%
1997 8.6% 4.49%

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/el-salvador | CC BY

Over the past 28 years, Bhutan has recorded an average annual inflation rate of 5.75%, compared with 2.51% in El Salvador. In 2024, inflation was 4.3% in Bhutan and 0.85% in El Salvador.

Balance of trade

Bhutan El Salvador
Current account balance
-$670M
2024
-$633M
2024
Current account balance ranking
114/190
2024
110/190
2024
Current account balance, % of GDP
-32%
2023
-1.79%
2024
Goods imports
$1.29B
2024
$15.1B
2024
Goods exports
$656M
2024
$5.59B
2024
Service imports
$228M
2024
$3.26B
2024
Service exports
$288M
2024
$6B
2024
Imports of goods and services, % of GDP
53.3%
2023
51.9%
2024
Exports of goods and services, % of GDP
28.4%
2023
32.8%
2024

Economic freedom indices

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

Bhutan El Salvador
Economic freedom 57.5 57.7
Economic freedom ranking 115/197 114/197
Property rights 69.2 42.7
Government integrity 72.2 31.5
Judicial effectiveness 61.8 15.3
Tax burden 83.4 76.8
Government spending 74.1 72.7
Fiscal health 25.8 59.4
Business freedom 67.8 65.7
Labor freedom 60.1 51.6
Monetary freedom 71.6 70.6
Trade freedom 63.4 76.4
Investment freedom 20 70
Financial freedom 20 60

Economic freedom comparison by year

Bhutan
El Salvador
1x
Year Economic freedom index
Bhutan El Salvador
2026 57.5 57.7
2025 57.5 56.6
2024 55.4 54.4
2023 59 56
2022 59.3 59.6
2021 58.3 61
2020 62.1 61.6
2019 62.9 61.8
2018 61.8 63.2
2017 58.4 64.1
2016 59.5 65.1
2015 57.4 65.7
2014 56.7 66.2
2013 55 66.7
2012 56.6 68.7
2011 57.6 68.8
2010 57 69.9
2009 57.7 69.8
2008 - 68.5
2007 - 68.9
2006 - 69.6
2005 - 71.5
2004 - 71.2
2003 - 71.5
2002 - 73
2001 - 73
2000 - 76.3
1999 - 75.1
1998 - 70.2
1997 - 70.5
1996 - 70.1
1995 - 69.1

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

GeoRank.org/economy/bhutan/el-salvador | CC BY

The Economic Freedom Index for Bhutan is 57.5, ranking 115/197, compared to 57.7 for El Salvador, ranking 114/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Bhutan El Salvador
Services, % of GDP
52.8%
2023
61%
2024
Industry, % of GDP
29.4%
2023
22.4%
2024
Agriculture, forestry, and fishing, % of GDP
15%
2023
4.38%
2024
GNI, Atlas method
$2.93B
2023
$32.5B
2024
GNI per capita, PPP
$15,320
2023
$12,420
2024
Total reserves including gold
$941M
2024
$3.7B
2024
Total reserves ranking
143/177
2024
110/177
2024
Net foreign direct investment
-$22.8M
2024
-$636M
2024
Net inflows of foreign direct investment
$2.82M
2024
$924M
2024
Net outflows of foreign direct investment
$0
2024
$288M
2024
Servicing debt to the IMF, % of GNI
4.96%
2023
35%
2024
Poverty at national poverty lines
12.4%
2022
27.2%
2023
Gross capital formation, % of GDP
45.3%
2023
20.3%
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/el-salvador | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1965–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. International Monetary Fund (IMF) | Public Finances in Modern History (1987–1992, retrieved 2026-02-20)
  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.