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Economy of Bhutan vs Fiji compared: GDP & Debt

Updated on by Georank team

Bhutan has a GDP of $3.01B compared to $5.97B for Fiji, ranking 170/197 and 161/197 by economy size, respectively.

Bhutan has $3.53B in government debt (110.4% of GDP), compared to $4.54B (76.2% of GDP) in Fiji.

Bhutan vs Fiji GDP by year

Bhutan
Fiji
1x
Year GDP, current $
Bhutan Fiji
2024 - $5,968,125,909
2023 $3,012,896,789 $5,476,673,518
2022 $2,898,227,744 $4,977,861,886
2021 $2,768,802,960 $4,158,873,156
2020 $2,457,604,334 $4,227,719,873
2019 $2,735,683,570 $5,344,907,153
2018 $2,583,335,722 $5,581,425,327
2017 $2,591,358,009 $5,353,469,174
2016 $2,357,504,761 $4,930,213,644
2015 $2,187,815,803 $4,682,479,894
2014 $2,089,079,571 $4,857,104,769
2013 $1,943,696,952 $4,189,967,999
2012 $1,973,387,228 $3,972,028,104
2011 $1,977,728,659 $3,779,411,899
2010 $1,708,880,730 $3,140,166,713
2009 $1,331,343,798 $2,870,624,636
2008 $1,317,517,835 $3,523,185,920
2007 $1,255,767,964 $3,378,314,600
2006 $942,879,879 $3,076,305,453
2005 $860,391,000 $2,980,403,845
2004 $735,348,490 $2,708,078,477
2003 $651,935,430 $2,300,492,465
2002 $559,345,264 $1,833,279,985
2001 $496,110,226 $1,652,462,023
2000 $460,733,418 $1,678,219,508
1999 $399,311,200 $1,936,459,986
1998 $363,458,381 $1,653,146,717
1997 $352,229,077 $2,090,221,137
1996 $303,408,346 $2,128,696,644
1995 $290,490,984 $1,970,301,486
1994 $258,954,708 $1,825,732,093
1993 $225,973,693 $1,636,101,247
1992 $240,233,531 $1,532,411,039
1991 $240,294,286 $1,383,883,250
1990 $287,765,007 $1,337,017,559
1989 $264,798,626 $1,182,660,266
1988 $272,298,067 $1,110,009,523
1987 $242,742,766 $1,177,947,965
1986 $191,218,115 $1,290,267,340
1985 $163,288,815 $1,141,168,944
1984 $160,423,494 $1,178,000,678
1983 $156,704,290 $1,123,085,190
1982 $141,439,317 $1,194,059,943
1981 $139,174,178 $1,235,626,771
1980 $128,669,201 $1,202,618,816
1979 $105,377,995 $1,019,691,460
1978 $94,086,228 $829,267,889
1977 $97,884,434 $719,501,766
1976 $88,461,263 $694,540,806
1975 $86,820,762 $684,282,434
1974 $92,901,784 $558,587,097
1973 $78,900,289 $425,950,488
1972 $70,139,867 $316,656,649
1971 $66,289,450 $247,749,328
1970 $61,812,113 $219,878,482
1969 - $182,182,068
1968 - $166,952,937
1967 - $162,625,886
1966 - $150,603,926
1965 - $147,084,750
1964 - $140,032,741
1963 - $129,454,729
1962 - $122,906,435
1961 - $116,987,785
1960 - $112,328,422

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

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

GDP per capita in Bhutan vs Fiji by year

Bhutan
GDP per capita

GDP per capita, PPP
Fiji
GDP per capita

GDP per capita, PPP
1x
Year Current $
Bhutan Fiji
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 - - $6,426 $15,450
2023 $3,831 $16,215 $5,926 $14,644
2022 $3,711 $15,064 $5,414 $12,982
2021 $3,571 $13,459 $4,537 $10,322
2020 $3,192 $12,475 $4,621 $10,716
2019 $3,577 $12,909 $5,842 $12,978
2018 $3,400 $11,970 $6,085 $12,984
2017 $3,435 $11,677 $5,827 $12,585
2016 $3,152 $11,273 $5,364 $11,766
2015 $2,954 $10,214 $5,098 $11,519
2014 $2,849 $9,323 $5,293 $10,516
2013 $2,680 $8,667 $4,572 $8,842
2012 $2,751 $8,577 $4,341 $8,204
2011 $2,788 $7,935 $4,140 $7,672
2010 $2,436 $7,246 $3,449 $7,339
2009 $1,918 $6,466 $3,164 $7,068
2008 $1,920 $6,035 $3,900 $7,154
2007 $1,850 $5,729 $3,763 $6,990
2006 $1,406 $4,860 $3,455 $6,921
2005 $1,300 $4,523 $3,378 $6,652
2004 $1,130 $4,173 $3,097 $6,463
2003 $1,022 $3,942 $2,656 $6,033
2002 $896 $3,663 $2,137 $5,914
2001 $812 $3,338 $1,945 $5,699
2000 $772 $3,113 $1,996 $5,521
1999 $685 $3,017 $2,328 $5,552
1998 $638 $2,819 $2,010 $5,090
1997 $630 $2,683 $2,574 $5,031
1996 $553 $2,548 $2,648 $5,109
1995 $530 $2,374 $2,467 $4,818
1994 $467 $2,146 $2,297 $4,627
1993 $407 $2,001 $2,070 $4,334
1992 $416 $1,840 $1,951 $4,172
1991 $401 $1,657 $1,775 $3,873
1990 $488 $1,638 $1,729 $3,882
1989 $462 - $1,543 -
1988 $489 - $1,463 -
1987 $449 - $1,569 -
1986 $365 - $1,745 -
1985 $321 - $1,577 -
1984 $326 - $1,667 -
1983 $328 - $1,628 -
1982 $306 - $1,773 -
1981 $311 - $1,879 -
1980 $296.9 - $1,873 -
1979 $251.4 - $1,627 -
1978 $232.2 - $1,355 -
1977 $249.9 - $1,204 -
1976 $233.7 - $1,186 -
1975 $237.4 - $1,188 -
1974 $262.8 - $984 -
1973 $230.9 - $762 -
1972 $212.4 - $575 -
1971 $207.7 - $458 -
1970 $200.3 - $414 -
1969 - - $350 -
1968 - - $327 -
1967 - - $326 -
1966 - - $310 -
1965 - - $311 -
1964 - - $306 -
1963 - - $291.4 -
1962 - - $285.5 -
1961 - - $280.3 -
1960 - - $277.4 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

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

Bhutan's GDP per capita is $3,831, ranking 132/197, compared to $6,426 in Fiji, ranking 108/197. Adjusted for purchasing power (GDP per capita PPP), Bhutan ranks 109th at $16,215, while Fiji ranks 113th at $15,450.

Economic indicators

Bhutan Fiji
Gross domestic product
$3.01B
2023
$5.97B
2024
GDP rank
170/197
2023
161/197
2024
GDP growth
4.63%
2022-2023
3.53%
2023-2024
GDP per capita
$3,831
2023
$6,426
2024
GDP per capita rank
132/197
2023
108/197
2024
GDP per capita, PPP
$16,215
2023
$15,450
2024
GDP per capita PPP rank
109/197
2023
113/197
2024
Government debt
$3.53B
2023
$4.54B
2024
Debt-to-GDP ratio
110.4%
2024
76.2%
2024
Government debt per person
$4,485
2023
$4,893
2024
Government debt per person rank
87/185
2023
80/185
2024
Average annual personal income after taxes
$5,506
2026
$6,964
2026
Income share by richest 10%
22.7%
2022
24.2%
2019
Income share by poorest 10%
3.6%
2022
3.5%
2019
Government expenditure, % of GDP
27.1%
2024
29.7%
2024
Consumer prices inflation
4.3%
2023-2024
4.51%
2023-2024
Central bank interest rate n/a
0.25%
2020
Unemployment rate
3.28%
2024
5.36%
2024
Population
803385
938628

Spending and national debt comparison by year

Bhutan
Spending

Debt
Fiji
Spending

Debt
1x
Year % of GDP
Bhutan Fiji
Government spending Government debt Government spending Government debt
2024 27.1% 110.4% 29.7% 76.2%
2023 28.8% 117.1% 28.8% 79.1%
2022 32.1% 119.9% 30.9% 83.3%
2021 36.6% 124.5% 36.7% 89%
2020 30.9% 116% 36.2% 72.9%
2019 24.2% 100.8% 30.8% 49.7%
2018 31.7% 103.4% 31.8% 44.8%
2017 30.6% 104.1% 27.3% 42.2%
2016 30.5% 103% 31.4% 43.6%
2015 27.5% 90.2% 29.8% 43%
2014 28.9% 89.8% 29.1% 44.5%
2013 32.5% 87.4% 25.1% 45.8%
2012 35.1% 71.5% 25.5% 47.7%
2011 36.1% 62.3% 25.3% 48.6%
2010 41.5% 55.8% 24.8% 51.8%
2009 39.3% 61% 26.2% 51.5%
2008 36.1% 60.6% 22.6% 47.5%
2007 33.2% 67.3% 23.3% 46%
2006 33.4% 80.1% 24.8% 49.2%
2005 36.4% 80.8% 23.3% 44%
2004 31% 76% 24% 44.5%
2003 34.7% 68.5% 25.8% 44.9%
2002 39.3% 57.7% 27.4% 43.4%
2001 50.3% 52.4% 26.4% 41%
2000 43% 44% 24.8% 36.9%
1999 40.2% 39.2% 23.2% 32.7%
1998 31.1% 36.4% 26.8% 36.6%
1997 37.8% 33% 29.1% 54.1%
1996 37.9% 36.8% 26.4% 48.8%
1995 38.6% 38.7% 23.2% 48.4%
1994 37.9% 53.2% 24.3% 47.6%
1993 35.2% 60.2% 25.7% 44.3%
1992 34.5% 35.6% 25.8% 42.2%
1991 30.8% 33.5% - -
1990 35.8% 27.4% - -
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/fiji | CC BY

In 2024, Bhutan's government spending was $869M, accounting for 27.1% of its GDP, while Fiji spent $1.77B, or 29.7% of GDP.

Debt-to-GDP ratio is 110.4% in Bhutan and 76.2% in Fiji, ranking 17/185 and 47/185, respectively.

Government deficit by year

Deficit/surplus
Bhutan

Fiji
1x
Year Deficit/surplus, % of GDP
Bhutan Fiji
2024 -0.17% -3.36%
2023 -4.73% -6.82%
2022 -6.95% -11.2%
2021 -5.76% -14.6%
2020 -1.81% -9.24%
2019 -1.49% -3.67%
2018 -1.52% -4.72%
2017 -4.49% -2.22%
2016 -2.31% -5.58%
2015 -0.49% -3.8%
2014 2.46% -3.36%
2013 -4.55% -0.08%
2012 -2.1% -0.67%
2011 -3.02% -0.69%
2010 1.92% -1.26%
2009 -0.8% -2.76%
2008 -2.57% 1.54%
2007 0.79% 0.35%
2006 -0.07% -0.74%
2005 -6.96% -1.14%
2004 1.8% -0.95%
2003 -10.2% -3.34%
2002 -4.33% -3.58%
2001 -12.2% -4.4%
2000 -3.39% -1.37%
1999 -1.28% 1.1%
1998 1.28% 5.21%
1997 -1.92% -4.48%
1996 2.55% -3.35%
1995 -0.88% 0.77%
1994 -0.13% -0.19%
1993 4.71% -1.83%
1992 -3.47% -2.14%
1991 -0.48% -
1990 -7.21% -
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/fiji | 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 Fiji's deficit of $374M, or 6.82% of GDP.

Over the past 32 years, Bhutan recorded a fiscal deficit in 25 of those years, while Fiji ran a deficit in 27 years. On average, Bhutan posted an annual deficit equal to 2.25% of GDP, compared to deficit of 2.79% of GDP for Fiji.

Inflation comparison by year

Inflation
Bhutan

Fiji
1x
Year Consumer prices inflation
Bhutan Fiji
2024 4.3% 4.51%
2023 4.5% 2.34%
2022 5.9% 4.32%
2021 8.2% 0.16%
2020 3% -2.6%
2019 2.8% 1.77%
2018 3.6% 4.08%
2017 4.3% 3.35%
2016 3.3% 3.86%
2015 6.7% 1.37%
2014 9.6% 0.52%
2013 8.1% 2.91%
2012 10.1% 3.42%
2011 8.6% 7.28%
2010 4.8% 3.69%
2009 7.1% 3.13%
2008 6.3% 7.73%
2007 5.2% 4.8%
2006 4.9% 2.49%
2005 4.8% 2.37%
2004 3.3% 2.83%
2003 2.5% 4.17%
2002 2.9% 0.76%
2001 3.7% 4.27%
2000 7.2% 1.09%
1999 9.1% 1.97%
1998 7.6% 5.71%
1997 8.6% 3.37%

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/fiji | CC BY

Over the past 28 years, Bhutan has recorded an average annual inflation rate of 5.75%, compared with 3.06% in Fiji. In 2024, inflation was 4.3% in Bhutan and 4.51% in Fiji.

Top exports between countries

Bhutan
Export category Export value
Fiji
Export category Export value
Machinery & equipment $2K

Balance of trade

Bhutan Fiji
Current account balance
-$670M
2024
-$866M
2022
Current account balance ranking
114/190
2024
120/190
2022
Current account balance, % of GDP
-32%
2023
-17.4%
2022
Goods imports
$1.29B
2024
$2.68B
2022
Goods exports
$656M
2024
$1.05B
2022
Service imports
$228M
2024
$754M
2022
Service exports
$288M
2024
$1.33B
2022
Imports of goods and services, % of GDP
53.3%
2023
69.2%
2023
Exports of goods and services, % of GDP
28.4%
2023
57%
2023

Economic freedom indices

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

Bhutan Fiji
Economic freedom 57.5 59.5
Economic freedom ranking 115/197 103/197
Property rights 69.2 59.9
Government integrity 72.2 55.4
Judicial effectiveness 61.8 53.2
Tax burden 83.4 87.8
Government spending 74.1 70
Fiscal health 25.8 7.5
Business freedom 67.8 69.5
Labor freedom 60.1 66.9
Monetary freedom 71.6 72.4
Trade freedom 63.4 66.6
Investment freedom 20 55
Financial freedom 20 50

Economic freedom comparison by year

Bhutan
Fiji
1x
Year Economic freedom index
Bhutan Fiji
2026 57.5 59.5
2025 57.5 59.1
2024 55.4 58
2023 59 58
2022 59.3 56.4
2021 58.3 62.2
2020 62.1 63.4
2019 62.9 62.2
2018 61.8 62
2017 58.4 63.4
2016 59.5 58.8
2015 57.4 59
2014 56.7 58.7
2013 55 57.2
2012 56.6 57.3
2011 57.6 60.4
2010 57 60.3
2009 57.7 61
2008 - 61.8
2007 - 60.8
2006 - 58.4
2005 - 58.2
2004 - 58
2003 - 54.7
2002 - 53.9
2001 - 53.7
2000 - 57.8
1999 - 58.4
1998 - 58.2
1997 - 58
1996 - 57.4
1995 - 54.7

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

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

The Economic Freedom Index for Bhutan is 57.5, ranking 115/197, compared to 59.5 for Fiji, ranking 103/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Bhutan Fiji
Services, % of GDP
52.8%
2023
54.6%
2024
Industry, % of GDP
29.4%
2023
16.5%
2024
Agriculture, forestry, and fishing, % of GDP
15%
2023
13.2%
2024
GNI, Atlas method
$2.93B
2023
$5.4B
2024
GNI per capita, PPP
$15,320
2023
$14,490
2024
Total reserves including gold
$941M
2024
$1.6B
2024
Total reserves ranking
143/177
2024
133/177
2024
Net foreign direct investment
-$22.8M
2024
-$86.9M
2022
Net inflows of foreign direct investment
$2.82M
2024
$204M
2024
Net outflows of foreign direct investment
$0
2024
$25.6M
2024
Servicing debt to the IMF, % of GNI
4.96%
2023
4.36%
2024
Poverty at national poverty lines
12.4%
2022
31%
2020
Gross capital formation, % of GDP
45.3%
2023
19.7%
2023

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/fiji | 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. 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)
  8. Central Intelligence Agency (CIA) (2020, retrieved 2026-02-20)
  9. TradeMap (2022, retrieved 2026-02-08)

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.