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Economy of Bhutan vs Greece compared: GDP & Debt

Updated on by Georank team

Bhutan has a GDP of $3.01B compared to $256B for Greece, ranking 170/197 and 53/197 by economy size, respectively.

Bhutan has $3.53B in government debt (110.4% of GDP), compared to $397B (154.8% of GDP) in Greece.

Bhutan vs Greece GDP by year

Bhutan
Greece
1x
Year GDP, current $
Bhutan Greece
2024 - $256,238,371,778
2023 $3,012,896,789 $242,946,187,738
2022 $2,898,227,744 $217,990,189,601
2021 $2,768,802,960 $218,303,801,895
2020 $2,457,604,334 $191,362,985,555
2019 $2,735,683,570 $207,305,649,887
2018 $2,583,335,722 $213,298,873,494
2017 $2,591,358,009 $200,381,103,984
2016 $2,357,504,761 $193,097,239,006
2015 $2,187,815,803 $194,567,373,678
2014 $2,089,079,571 $233,911,581,521
2013 $1,943,696,952 $236,556,279,641
2012 $1,973,387,228 $238,841,140,018
2011 $1,977,728,659 $283,228,079,776
2010 $1,708,880,730 $296,417,644,404
2009 $1,331,343,798 $326,829,054,686
2008 $1,317,517,835 $351,121,399,546
2007 $1,255,767,964 $314,226,996,944
2006 $942,879,879 $269,073,415,334
2005 $860,391,000 $242,315,668,619
2004 $735,348,490 $234,979,615,898
2003 $651,935,430 $196,930,509,813
2002 $559,345,264 $150,253,800,086
2001 $496,110,226 $132,050,474,720
2000 $460,733,418 $125,760,166,225
1999 $399,311,200 $137,131,371,955
1998 $363,458,381 $139,612,812,176
1997 $352,229,077 $138,766,067,640
1996 $303,408,346 $142,502,984,145
1995 $290,490,984 $134,974,613,914
1994 $258,954,708 $114,980,063,202
1993 $225,973,693 $107,295,704,518
1992 $240,233,531 $114,608,178,405
1991 $240,294,286 $103,680,863,713
1990 $287,765,007 $96,529,587,274
1989 $264,798,626 $78,067,933,277
1988 $272,298,067 $75,200,610,137
1987 $242,742,766 $64,739,630,096
1986 $191,218,115 $55,595,445,472
1985 $163,288,815 $47,155,741,426
1984 $160,423,494 $47,352,146,312
1983 $156,704,290 $48,741,397,059
1982 $141,439,317 $53,858,346,939
1981 $139,174,178 $51,618,456,335
1980 $128,669,201 $56,039,256,595
1979 $105,377,995 $53,724,121,435
1978 $94,086,228 $43,654,480,519
1977 $97,884,434 $35,673,080,481
1976 $88,461,263 $30,719,552,239
1975 $86,820,762 $28,129,128,587
1974 $92,901,784 $24,998,715,909
1973 $78,900,289 $22,037,019,563
1972 $70,139,867 $16,650,659,091
1971 $66,289,450 $14,388,806,818
1970 $61,812,113 $12,957,113,636
1969 - $11,454,106,327
1968 - $9,950,331,206
1967 - $9,146,592,856
1966 - $8,472,021,467
1965 - $7,582,209,670
1964 - $6,576,906,345
1963 - $5,813,285,627
1962 - $5,140,542,929
1961 - $4,892,397,431
1960 - $4,274,890,307

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

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

GDP per capita in Bhutan vs Greece by year

Bhutan
GDP per capita

GDP per capita, PPP
Greece
GDP per capita

GDP per capita, PPP
1x
Year Current $
Bhutan Greece
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 - - $24,626 $44,327
2023 $3,831 $16,215 $23,344 $42,711
2022 $3,711 $15,064 $20,887 $39,612
2021 $3,571 $13,459 $20,655 $33,531
2020 $3,192 $12,475 $17,887 $29,533
2019 $3,577 $12,909 $19,335 $31,927
2018 $3,400 $11,970 $19,873 $29,792
2017 $3,435 $11,677 $18,632 $28,682
2016 $3,152 $11,273 $17,919 $27,505
2015 $2,954 $10,214 $17,981 $26,608
2014 $2,849 $9,323 $21,475 $26,450
2013 $2,680 $8,667 $21,573 $25,731
2012 $2,751 $8,577 $21,624 $24,583
2011 $2,788 $7,935 $25,505 $25,693
2010 $2,436 $7,246 $26,653 $27,839
2009 $1,918 $6,466 $29,425 $29,963
2008 $1,920 $6,035 $31,696 $30,441
2007 $1,850 $5,729 $28,441 $28,896
2006 $1,406 $4,860 $24,416 $28,076
2005 $1,300 $4,523 $22,054 $25,004
2004 $1,130 $4,173 $21,449 $24,826
2003 $1,022 $3,942 $18,021 $23,253
2002 $896 $3,663 $13,782 $21,985
2001 $812 $3,338 $12,157 $20,304
2000 $772 $3,113 $11,638 $18,820
1999 $685 $3,017 $12,743 $17,758
1998 $638 $2,819 $13,023 $17,434
1997 $630 $2,683 $13,016 $16,630
1996 $553 $2,548 $13,433 $15,778
1995 $530 $2,374 $12,779 $15,218
1994 $467 $2,146 $10,937 $14,667
1993 $407 $2,001 $10,257 $14,150
1992 $416 $1,840 $11,021 $14,130
1991 $401 $1,657 $10,047 $13,824
1990 $488 $1,638 $9,467 $13,126
1989 $462 - $7,738 -
1988 $489 - $7,492 -
1987 $449 - $6,474 -
1986 $365 - $5,578 -
1985 $321 - $4,747 -
1984 $326 - $4,785 -
1983 $328 - $4,950 -
1982 $306 - $5,502 -
1981 $311 - $5,305 -
1980 $296.9 - $5,812 -
1979 $251.4 - $5,627 -
1978 $232.2 - $4,629 -
1977 $249.9 - $3,832 -
1976 $233.7 - $3,343 -
1975 $237.4 - $3,109 -
1974 $262.8 - $2,789 -
1973 $230.9 - $2,468 -
1972 $212.4 - $1,873 -
1971 $207.7 - $1,629 -
1970 $200.3 - $1,474 -
1969 - - $1,306 -
1968 - - $1,138 -
1967 - - $1,053 -
1966 - - $984 -
1965 - - $887 -
1964 - - $773 -
1963 - - $686 -
1962 - - $608 -
1961 - - $583 -
1960 - - $513 -

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

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

Bhutan's GDP per capita is $3,831, ranking 132/197, compared to $24,626 in Greece, ranking 49/197. Adjusted for purchasing power (GDP per capita PPP), Bhutan ranks 109th at $16,215, while Greece ranks 52nd at $44,327.

Economic indicators

Bhutan Greece
Gross domestic product
$3.01B
2023
$256B
2024
GDP rank
170/197
2023
53/197
2024
GDP growth
4.63%
2022-2023
2.09%
2023-2024
GDP per capita
$3,831
2023
$24,626
2024
GDP per capita rank
132/197
2023
49/197
2024
GDP per capita, PPP
$16,215
2023
$44,327
2024
GDP per capita PPP rank
109/197
2023
52/197
2024
Government debt
$3.53B
2023
$397B
2024
Debt-to-GDP ratio
110.4%
2024
154.8%
2024
Government debt per person
$4,485
2023
$38,119
2024
Government debt per person rank
87/185
2023
16/185
2024
Average annual personal income after taxes
$5,506
2026
$14,396
2026
Market capitalization of domestic companies n/a
$83.2B
2024
Number of billionaires n/a
16
2025
Income share by richest 10%
22.7%
2022
26%
2023
Income share by poorest 10%
3.6%
2022
2.7%
2023
Government expenditure, % of GDP
27.1%
2024
48%
2024
Consumer prices inflation
4.3%
2023-2024
2.74%
2023-2024
Unemployment rate
3.28%
2024
10%
2024
Population
803385
10181414

Spending and national debt comparison by year

Bhutan
Spending

Debt
Greece
Spending

Debt
1x
Year % of GDP
Bhutan Greece
Government spending Government debt Government spending Government debt
2024 27.1% 110.4% 48% 154.8%
2023 28.8% 117.1% 49.5% 165.2%
2022 32.1% 119.9% 52.8% 178.4%
2021 36.6% 124.5% 56.7% 197.8%
2020 30.9% 116% 59.3% 209.9%
2019 24.2% 100.8% 47.6% 183.7%
2018 31.7% 103.4% 48.6% 189.6%
2017 30.6% 104.1% 48.5% 182.6%
2016 30.5% 103% 50.3% 183.7%
2015 27.5% 90.2% 51.9% 180%
2014 28.9% 89.8% 51.5% 182.8%
2013 32.5% 87.4% 53% 180.5%
2012 35.1% 71.5% 54.9% 164.3%
2011 36.1% 62.3% 55.1% 175.1%
2010 41.5% 55.8% 53.1% 147.8%
2009 39.3% 61% 54.8% 128.5%
2008 36.1% 60.6% 51.5% 110.9%
2007 33.2% 67.3% 47.8% 104.6%
2006 33.4% 80.1% 45.9% 105.3%
2005 36.4% 80.8% 46.6% 109.9%
2004 31% 76% 48.8% 105.5%
2003 34.7% 68.5% 47.9% 104.3%
2002 39.3% 57.7% 47.1% 107.9%
2001 50.3% 52.4% 47.5% 110.5%
2000 43% 44% 48.2% 108.9%
1999 40.2% 39.2% 48% 102.8%
1998 31.1% 36.4% 46.7% 100.8%
1997 37.8% 33% 45.1% 102.6%
1996 37.9% 36.8% 46.1% 103.7%
1995 38.6% 38.7% 46.6% 100.4%
1994 37.9% 53.2% 36.9% 99.7%
1993 35.2% 60.2% 38.6% 101.7%
1992 34.5% 35.6% 36.9% 81.1%
1991 30.8% 33.5% 35.2% 75.7%
1990 35.8% 27.4% 38.5% 74.2%
1989 46.8% 26.4% 34.8% 60.7%
1988 45.3% 24.7% 33.8% 57.9%
1987 47.5% 17.3% 34% 53.2%
1986 - - 33.8% 47.8%
1985 - - 34.2% 47.3%
1984 - - 32% 40.6%
1983 - - 30.2% 34.1%
1982 - - 28.7% 29.7%
1981 - - 28.1% 27.1%
1980 - - 24.5% 22.8%
1979 - - 24.1% 22.7%
1978 - - 30.1% 32.3%
1977 - - 30.1% 24.5%
1976 - - 29.1% 23.7%
1975 - - 28.7% 24.1%
1974 - - 25.3% 22.5%
1973 - - 24.3% 22%
1972 - - 26.8% 26.5%
1971 - - 25.8% 25%
1970 - - 25.2% 24.7%
1969 - - 29.7% 25.8%
1968 - - 26.3% 23%
1967 - - 24.6% 21.1%
1966 - - 22.8% 19%
1965 - - 21.7% 16.5%
1964 - - 20.4% 21.3%
1963 - - 19.5% 22.6%
1962 - - 19.7% 16.6%
1961 - - 19.3% 14.4%
1960 - - 20% 13.4%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1992, retrieved 2026-02-20).

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

In 2024, Bhutan's government spending was $869M, accounting for 27.1% of its GDP, while Greece spent $123B, or 48% of GDP.

Debt-to-GDP ratio is 110.4% in Bhutan and 154.8% in Greece, ranking 17/185 and 7/185, respectively.

Government deficit by year

Deficit/surplus
Bhutan

Greece
1x
Year Deficit/surplus, % of GDP
Bhutan Greece
2024 -0.17% 1.34%
2023 -4.73% -1.35%
2022 -6.95% -2.46%
2021 -5.76% -7.58%
2020 -1.81% -10.3%
2019 -1.49% -0.09%
2018 -1.52% 0.78%
2017 -4.49% 1.05%
2016 -2.31% 0.28%
2015 -0.49% -3.03%
2014 2.46% -4.29%
2013 -4.55% -4.06%
2012 -2.1% -6.94%
2011 -3.02% -10.5%
2010 1.92% -11.4%
2009 -0.8% -15.4%
2008 -2.57% -10.3%
2007 0.79% -6.81%
2006 -0.07% -6.04%
2005 -6.96% -6.33%
2004 1.8% -9.05%
2003 -10.2% -8.05%
2002 -4.33% -6.2%
2001 -12.2% -5.64%
2000 -3.39% -4.21%
1999 -1.28% -6.02%
1998 1.28% -6.48%
1997 -1.92% -6.25%
1996 2.55% -8.35%
1995 -0.88% -9.87%
1994 -0.13% -8.48%
1993 4.71% -11.5%
1992 -3.47% -10.6%
1991 -0.48% -9.63%
1990 -7.21% -13.3%
1989 -10.1% -11.9%
1988 1.33% -9.63%
1987 -0.56% -8.09%
1986 - -8.62%
1985 - -9.56%
1984 - -7.19%
1983 - -6.17%
1982 - -5.49%
1981 - -7.08%
1980 - -2.5%
1979 - -2.34%
1978 - -5.39%
1977 - -5.21%
1976 - -5.05%
1975 - -5.3%
1974 - -4.39%
1973 - -3.71%
1972 - -4.16%
1971 - -3.32%
1970 - -3.24%
1969 - -6.65%
1968 - -3.39%
1967 - -2.59%
1966 - -2.17%
1965 - -2.55%
1964 - -2.89%
1963 - -2.25%
1962 - -2.4%
1961 - -2.69%
1960 - -3.3%
1959 - -2.77%
1958 - -2.27%
1957 - -2.45%
1956 - -0.39%
1955 - -3.57%
1954 - -2.87%
1953 - -3.01%
1952 - -7.21%
1951 - -11.5%
1950 - -12.7%
1949 - -10.4%
1948 - -7.65%
1947 - -
1946 - -
1945 - -
1944 - -
1943 - -
1942 - -
1941 - -
1940 - -
1939 - 0.48%
1938 - 1.78%
1937 - 1.06%
1936 - 0.95%
1935 - 0.72%
1934 - 0.88%
1933 - -2.79%
1932 - -1.78%
1931 - -4%
1930 - -2.23%
1929 - -18.7%
1928 - -0.27%
1927 - 2.65%
1926 - -
1925 - -
1924 - -
1923 - -
1922 - -
1921 - -
1920 - -
1919 - -
1918 - -
1917 - -
1916 - -
1915 - -
1914 - -
1913 - -8.96%
1912 - -7.43%
1911 - -4.61%
1910 - -1.53%
1909 - -2.64%
1908 - -1.54%
1907 - -1.23%
1906 - 0.66%
1905 - 0.91%
1904 - -0.04%
1903 - -0.22%
1902 - -1.67%
1901 - 0.1%
1900 - 0.41%
1899 - 0.86%
1898 - -34.5%
1897 - -8.46%
1896 - 0.82%
1895 - 0.37%
1894 - 2.91%
1893 - 0.14%
1892 - -2.28%
1891 - -6.48%
1890 - -11.2%
1889 - -15.7%
1888 - -3.59%
1887 - -4.88%
1886 - -11.5%
1885 - -12.1%
1884 - -7.16%
1883 - -2.42%
1882 - -1.69%
1881 - -14.5%
1880 - -13.5%

Data sources: International Monetary Fund (IMF) | Public Finances in Modern History (1880–1989, retrieved 2026-02-20); International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/bhutan/greece | 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 Greece's deficit of $3.28B, or 1.35% of GDP.

Over the past 37 years, Bhutan recorded a fiscal deficit in 29 of those years, while Greece ran a deficit in 34 years. On average, Bhutan posted an annual deficit equal to 2.4% of GDP, compared to deficit of 6.98% of GDP for Greece.

Inflation comparison by year

Inflation
Bhutan

Greece
1x
Year Consumer prices inflation
Bhutan Greece
2024 4.3% 2.74%
2023 4.5% 3.46%
2022 5.9% 9.65%
2021 8.2% 1.22%
2020 3% -1.25%
2019 2.8% 0.25%
2018 3.6% 0.63%
2017 4.3% 1.12%
2016 3.3% -0.83%
2015 6.7% -1.74%
2014 9.6% -1.31%
2013 8.1% -0.92%
2012 10.1% 1.5%
2011 8.6% 3.33%
2010 4.8% 4.71%
2009 7.1% 1.21%
2008 6.3% 4.15%
2007 5.2% 2.9%
2006 4.9% 3.2%
2005 4.8% 3.55%
2004 3.3% 2.9%
2003 2.5% 3.53%
2002 2.9% 3.63%
2001 3.7% 3.37%
2000 7.2% 3.15%
1999 9.1% 2.64%
1998 7.6% 4.77%
1997 8.6% 5.54%

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/greece | CC BY

Over the past 28 years, Bhutan has recorded an average annual inflation rate of 5.75%, compared with 2.4% in Greece. In 2024, inflation was 4.3% in Bhutan and 2.74% in Greece.

Top exports between countries

Bhutan
Export category Export value
Raw materials & minerals $1K
Greece
Export category Export value
Wood & paper products $143K
Machinery & equipment $6K
Textiles & consumer goods $3K

Balance of trade

Bhutan Greece
Current account balance
-$670M
2024
-$18.2B
2024
Current account balance ranking
114/190
2024
182/190
2024
Current account balance, % of GDP
-32%
2023
-7.11%
2024
Goods imports
$1.29B
2024
$91.2B
2024
Goods exports
$656M
2024
$52.6B
2024
Service imports
$228M
2024
$31.1B
2024
Service exports
$288M
2024
$55.8B
2024
Imports of goods and services, % of GDP
53.3%
2023
47.7%
2024
Exports of goods and services, % of GDP
28.4%
2023
42.1%
2024

Economic freedom indices

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

Bhutan Greece
Economic freedom 57.5 63.2
Economic freedom ranking 115/197 82/197
Property rights 69.2 78
Government integrity 72.2 54.8
Judicial effectiveness 61.8 68
Tax burden 83.4 59.9
Government spending 74.1 24.7
Fiscal health 25.8 78.9
Business freedom 67.8 77.8
Labor freedom 60.1 59.7
Monetary freedom 71.6 72.6
Trade freedom 63.4 79.4
Investment freedom 20 55
Financial freedom 20 50

Economic freedom comparison by year

Bhutan
Greece
1x
Year Economic freedom index
Bhutan Greece
2026 57.5 63.2
2025 57.5 60.6
2024 55.4 55.1
2023 59 56.9
2022 59.3 61.5
2021 58.3 60.9
2020 62.1 59.9
2019 62.9 57.7
2018 61.8 57.3
2017 58.4 55
2016 59.5 53.2
2015 57.4 54
2014 56.7 55.7
2013 55 55.4
2012 56.6 55.4
2011 57.6 60.3
2010 57 62.7
2009 57.7 60.8
2008 - 60.6
2007 - 58.7
2006 - 60.1
2005 - 59
2004 - 59.1
2003 - 58.8
2002 - 59.1
2001 - 63.4
2000 - 61
1999 - 61
1998 - 60.6
1997 - 59.6
1996 - 60.5
1995 - 61.2

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

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

The Economic Freedom Index for Bhutan is 57.5, ranking 115/197, compared to 63.2 for Greece, ranking 82/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Bhutan Greece
Services, % of GDP
52.8%
2023
68%
2024
Industry, % of GDP
29.4%
2023
15%
2024
Agriculture, forestry, and fishing, % of GDP
15%
2023
3.77%
2024
GNI, Atlas method
$2.93B
2023
$236B
2024
GNI per capita, PPP
$15,320
2023
$43,340
2024
Total reserves including gold
$941M
2024
$15.2B
2024
Total reserves ranking
143/177
2024
67/177
2024
Net foreign direct investment
-$22.8M
2024
-$4.52B
2024
Net inflows of foreign direct investment
$2.82M
2024
$6.74B
2024
Net outflows of foreign direct investment
$0
2024
$2.22B
2024
Servicing debt to the IMF, % of GNI
4.96%
2023
n/a
Poverty at national poverty lines
12.4%
2022
18.8%
2021
Gross capital formation, % of GDP
45.3%
2023
18.3%
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/greece | 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 (1880–1992, 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. TradeMap (2020–2024, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)

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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.