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Economy of Bhutan vs Israel compared: GDP & Debt

Updated on by Georank

Bhutan has a GDP of $3.58B compared to $611B for Israel, ranking 167/197 and 27/197 by economy size, respectively.

Bhutan has $3.71B in government debt (103.6% of GDP), compared to $418B (68.5% of GDP) in Israel.

Bhutan vs Israel GDP by year

Bhutan
Israel
1x
Year GDP, current $
Bhutan Israel
2025 $3,579,320,145 $610,777,842,874
2024 $3,346,603,859 $542,284,494,491
2023 $3,012,896,790 $513,393,395,492
2022 $2,898,227,744 $525,157,951,213
2021 $2,768,802,960 $489,735,019,666
2020 $2,457,604,334 $410,908,899,711
2019 $2,735,683,570 $399,207,771,082
2018 $2,583,335,722 $375,470,422,244
2017 $2,591,358,009 $357,360,816,857
2016 $2,357,504,761 $321,083,954,798
2015 $2,187,815,803 $302,841,190,258
2014 $2,089,079,571 $314,376,760,832
2013 $1,943,696,952 $298,045,324,736
2012 $1,973,387,228 $263,172,104,091
2011 $1,977,728,659 $267,739,352,609
2010 $1,708,880,730 $239,372,857,534
2009 $1,331,343,798 $213,112,649,594
2008 $1,317,517,835 $220,952,472,408
2007 $1,255,767,964 $184,448,882,452
2006 $942,879,879 $158,706,516,002
2005 $860,391,000 $147,346,035,831
2004 $735,348,490 $139,925,423,025
2003 $651,935,430 $131,278,887,815
2002 $559,345,264 $125,215,963,105
2001 $496,110,226 $134,889,159,474
2000 $460,733,418 $136,409,902,632
1999 $399,311,200 $121,329,240,042
1998 $363,458,381 $120,468,659,246
1997 $352,229,077 $119,389,303,067
1996 $303,408,346 $115,051,957,577
1995 $290,490,984 $105,432,315,611
1994 $258,954,708 $90,684,108,118
1993 $225,973,693 $79,806,598,120
1992 $240,233,531 $79,408,652,426
1991 $240,294,286 $70,954,941,681
1990 $287,765,007 $61,978,459,022
1989 $264,798,626 $52,411,116,588
1988 $272,298,067 $52,618,458,014
1987 $242,742,766 $43,022,977,765
1986 $191,218,115 $35,812,041,620
1985 $163,288,815 $28,887,898,639
1984 $160,423,494 $30,626,695,891
1983 $156,704,290 $32,655,591,256
1982 $141,439,317 $29,237,231,967
1981 $139,174,178 $26,865,420,933
1980 $128,669,201 $25,379,585,067
1979 $105,377,995 $22,595,788,591
1978 $94,086,228 $17,690,363,444
1977 $97,884,434 $18,245,847,441
1976 $88,461,263 $15,946,502,888
1975 $86,820,762 $16,131,806,290
1974 $92,901,784 $17,162,009,924
1973 $78,900,289 $11,895,229,181
1972 $70,139,867 $9,216,866,299
1971 $66,289,450 $7,048,191,876
1970 $61,812,113 $7,402,142,195
1969 - $6,293,966,357
1968 - $5,455,059,532
1967 - $4,759,447,914
1966 - $4,700,397,692
1965 - $4,326,412,951
1964 - $4,021,861,430
1963 - $3,533,767,055
1962 - $2,964,323,618
1961 - $3,706,297,903
1960 - $3,068,690,949

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

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

GDP per capita in Bhutan vs Israel by year

Bhutan
GDP per capita

GDP per capita, PPP
Israel
GDP per capita

GDP per capita, PPP
1x
Year Current $
Bhutan Israel
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $4,493 - $60,337 -
2024 $4,228 - $54,217 $57,236
2023 $3,831 $16,215 $52,126 $55,171
2022 $3,711 $15,064 $54,947 $53,619
2021 $3,571 $13,459 $52,258 $46,162
2020 $3,192 $12,475 $44,591 $40,955
2019 $3,577 $12,909 $44,092 $41,325
2018 $3,400 $11,970 $42,269 $40,190
2017 $3,435 $11,677 $41,013 $39,471
2016 $3,152 $11,273 $37,571 $38,189
2015 $2,954 $10,214 $36,138 $35,871
2014 $2,849 $9,323 $38,265 $34,816
2013 $2,680 $8,667 $36,981 $34,827
2012 $2,751 $8,577 $33,269 $32,484
2011 $2,788 $7,935 $34,477 $31,314
2010 $2,436 $7,246 $31,399 $29,456
2009 $1,918 $6,466 $28,470 $28,087
2008 $1,920 $6,035 $30,231 $28,084
2007 $1,850 $5,729 $25,689 $28,307
2006 $1,406 $4,860 $22,500 $26,385
2005 $1,300 $4,523 $21,262 $25,701
2004 $1,130 $4,173 $20,550 $26,078
2003 $1,022 $3,942 $19,624 $24,702
2002 $896 $3,663 $19,059 $26,101
2001 $812 $3,338 $20,949 $25,806
2000 $772 $3,113 $21,690 $25,766
1999 $685 $3,017 $19,809 $23,415
1998 $638 $2,819 $20,176 $22,927
1997 $630 $2,683 $20,457 $22,279
1996 $553 $2,548 $20,213 $21,672
1995 $530 $2,374 $19,014 $20,642
1994 $467 $2,146 $16,796 $19,478
1993 $407 $2,001 $15,169 $18,218
1992 $416 $1,840 $15,500 $17,553
1991 $401 $1,657 $14,337 $16,486
1990 $488 $1,638 $13,300 $15,721
1989 $462 - $11,601 -
1988 $489 - $11,846 -
1987 $449 - $9,847 -
1986 $365 - $8,330 -
1985 $321 - $6,824 -
1984 $326 - $7,364 -
1983 $328 - $7,955 -
1982 $306 - $7,253 -
1981 $311 - $6,791 -
1980 $296.9 - $6,545 -
1979 $251.4 - $5,968 -
1978 $232.2 - $4,794 -
1977 $249.9 - $5,050 -
1976 $233.7 - $4,514 -
1975 $237.4 - $4,669 -
1974 $262.8 - $5,082 -
1973 $230.9 - $3,629 -
1972 $212.4 - $2,928 -
1971 $207.7 - $2,297 -
1970 $200.3 - $2,489 -
1969 - - $2,188 -
1968 - - $1,946 -
1967 - - $1,734 -
1966 - - $1,788 -
1965 - - $1,688 -
1964 - - $1,625 -
1963 - - $1,485 -
1962 - - $1,293 -
1961 - - $1,696 -
1960 - - $1,452 -

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

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

Bhutan's GDP per capita is $4,493, ranking 128/197, compared to $60,337 in Israel, ranking 19/197. Adjusted for purchasing power (GDP per capita PPP), Bhutan ranks 109th at $16,215, while Israel ranks 36th at $57,236.

Economic indicators

Bhutan Israel
Gross domestic product
$3.58B
2025
$611B
2025
GDP rank
167/197
2025
27/197
2025
GDP growth
8.01%
2024-2025
2.93%
2024-2025
GDP per capita
$4,493
2025
$60,337
2025
GDP per capita rank
128/197
2025
19/197
2025
GDP per capita, PPP
$16,215
2023
$57,236
2024
GDP per capita PPP rank
109/197
2023
36/197
2024
Government debt
$3.71B
2025
$418B
2025
Debt-to-GDP ratio
103.6%
2025
68.5%
2025
Government debt per person
$4,655
2025
$41,338
2025
Government debt per person rank
88/185
2025
16/185
2025
Average annual personal income after taxes
$4,215
2026
$48,251
2026
Market capitalization of domestic companies n/a
$331B
2024
Number of millionaires n/a
195,000
2026
Number of billionaires n/a
42
2026
Income share by richest 10%
22.7%
2022
27%
2022
Income share by poorest 10%
3.6%
2022
1.8%
2022
Government expenditure, % of GDP
30.5%
2025
43.6%
2025
Consumer prices inflation
2.6%
2024-2025
3.04%
2024-2025
Central bank interest rate n/a
3.75%
2026
Unemployment rate
3.36%
2025
3%
2025
Population
805057
10334048

Spending and national debt comparison by year

Bhutan
Spending

Debt
Israel
Spending

Debt
1x
Year % of GDP
Bhutan Israel
Government spending Government debt Government spending Government debt
2025 30.5% 103.6% 43.6% 68.5%
2024 28.3% 108.7% 43.7% 67.7%
2023 28.9% 117.2% 39.6% 61.3%
2022 32.1% 119.9% 36.9% 60.3%
2021 36.6% 124.5% 40.1% 67.7%
2020 30.9% 116% 44.8% 71.1%
2019 24.2% 100.8% 38.7% 59.3%
2018 31.7% 103.4% 39.2% 60.1%
2017 30.6% 104.1% 38.4% 59.8%
2016 30.5% 103% 37.9% 61.7%
2015 27.5% 90.2% 37.6% 62.8%
2014 28.9% 89.8% 38.3% 65.8%
2013 32.5% 87.4% 39.7% 66%
2012 35.1% 71.5% 39.6% 66.9%
2011 36.1% 62.3% 39.3% 67.2%
2010 41.5% 55.8% 39.7% 69%
2009 39.3% 61% 41.4% 72.6%
2008 36.1% 60.6% 41.2% 70.2%
2007 33.2% 67.3% 40.2% 70.8%
2006 33.4% 80.1% 41.6% 77.7%
2005 36.4% 80.8% 42.3% 85.2%
2004 31% 76% 43% 88.3%
2003 34.7% 68.5% 45.4% 89.7%
2002 39.3% 57.7% 50% 87.2%
2001 50.3% 52.4% 46.1% 81.1%
2000 43% 44% 43.4% 77.2%
1999 40.2% 39.2% 53.6% 94.8%
1998 31.1% 36.4% 55% 101%
1997 37.8% 33% 52.6% 99.3%
1996 37.9% 36.8% 53.2% 100.3%
1995 38.6% 38.7% 52.8% 102.3%
1994 37.9% 53.2% 41.7% 110.2%
1993 35.2% 60.2% 42.2% 118.3%
1992 34.5% 35.6% 44.1% 119.6%
1991 30.8% 33.5% 34.4% 123.7%
1990 35.8% 27.4% 46.8% 138.3%
1989 46.8% 26.4% 47.5% 147.4%
1988 45.3% 24.7% 46.5% 145.4%
1987 47.5% 17.3% 52.8% 143.2%
1986 - - 55.7% 162.5%
1985 - - 65.2% 199%
1984 - - - 284%
1983 - - - 260.5%
1982 - - 69.7% -
1981 - - 71.8% -
1980 - - 69.4% 154.3%
1979 - - 70.1% 155.5%
1978 - - 62.2% 133.6%
1977 - - 69.1% 142%
1976 - - 66.3% 97.4%
1975 - - 62% 85.1%
1974 - - - 79.8%
1973 - - - 62.1%
1972 - - - 63.9%
1971 - - - -
1970 - - 41.6% -
1969 - - 41.1% -
1968 - - 39.4% -
1967 - - 33.9% -
1966 - - 29.6% -
1965 - - 27.8% -
1964 - - 28.2% -
1963 - - 26.9% -
1962 - - 27.7% -
1961 - - 30.3% -
1960 - - 30.4% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1999, retrieved 2026-07-08).

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

In 2025, Bhutan's government spending was $1.09B, accounting for 30.5% of its GDP, while Israel spent $266B, or 43.6% of GDP.

Debt-to-GDP ratio is 103.6% in Bhutan and 68.5% in Israel, ranking 19/185 and 60/185, respectively.

Government deficit by year

Deficit/surplus
Bhutan

Israel
1x
Year Deficit/surplus, % of GDP
Bhutan Israel
2025 -2.7% -5.22%
2024 -1.79% -8.07%
2023 -4.73% -5.38%
2022 -6.95% 0.3%
2021 -5.76% -3.37%
2020 -1.81% -10.6%
2019 -1.49% -3.79%
2018 -1.52% -3.58%
2017 -4.49% -1.17%
2016 -2.31% -1.78%
2015 -0.49% -1.2%
2014 2.46% -2.28%
2013 -4.55% -4.07%
2012 -2.1% -4.46%
2011 -3.02% -3.43%
2010 1.92% -3.72%
2009 -0.8% -6.53%
2008 -2.57% -3.49%
2007 0.79% -0.43%
2006 -0.07% -0.94%
2005 -6.96% -2.74%
2004 1.8% -3.4%
2003 -10.2% -5.03%
2002 -4.33% -8.21%
2001 -12.2% -4.06%
2000 -3.39% -0.8%
1999 -1.28% -6.26%
1998 1.28% -7.99%
1997 -1.92% -4.84%
1996 2.55% -5.97%
1995 -0.88% -4.28%
1994 -0.13% -5.62%
1993 4.71% -5.62%
1992 -3.47% -8%
1991 -0.48% -7.04%
1990 -7.21% -9.67%
1989 -10.1% -9.03%
1988 1.33% -7.57%
1987 -0.56% -7.47%
1986 - -7.51%
1985 - -14.2%
1984 - -
1983 - -
1982 - -13.8%
1981 - -23.5%
1980 - -19.6%
1979 - -16.7%
1978 - -14.7%
1977 - -20.3%
1976 - -19.4%
1975 - -19.6%
1974 - -
1973 - -
1972 - -
1971 - -
1970 - -16%
1969 - -15.3%
1968 - -11.7%
1967 - -7.68%
1966 - -4.35%
1965 - -2.72%
1964 - -3.65%
1963 - -4.41%
1962 - -4.09%
1961 - -5.86%
1960 - -6.62%
1959 - -7.23%
1958 - -8.31%
1957 - -7.17%
1956 - -9.3%
1955 - -4.3%
1954 - -7.84%
1953 - -8.32%
1952 - -7.19%
1951 - -8.13%
1950 - -10.7%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1950–1999, retrieved 2026-07-08).

GeoRank.org/economy/bhutan/israel | 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 Israel's deficit of $31.9B, or 5.22% of GDP.

Over the past 39 years, Bhutan recorded a fiscal deficit in 31 of those years, while Israel ran a deficit in 38 years. On average, Bhutan posted an annual deficit equal to 2.4% of GDP, compared to deficit of 4.79% of GDP for Israel.

Inflation comparison by year

Inflation
Bhutan

Israel
1x
Year Consumer prices inflation
Bhutan Israel
2025 2.6% 3.04%
2024 4.3% 3.07%
2023 4.5% 4.23%
2022 5.9% 4.41%
2021 8.2% 1.48%
2020 3% -0.58%
2019 2.8% 0.82%
2018 3.6% 0.81%
2017 4.3% 0.25%
2016 3.3% -0.54%
2015 6.7% -0.62%
2014 9.6% 0.47%
2013 8.1% 1.59%
2012 10.1% 1.68%
2011 8.6% 3.49%
2010 4.8% 2.7%
2009 7.1% 3.37%
2008 6.3% 4.53%
2007 5.2% 0.47%
2006 4.9% 2.05%
2005 4.8% 1.34%
2004 3.3% -0.42%
2003 2.5% 0.71%
2002 2.9% 5.8%
2001 3.7% 1.12%
2000 7.2% 1.03%
1999 9.1% 5.19%
1998 7.6% 5.49%
1997 8.6% 8.95%

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/israel | CC BY

Over the past 29 years, Bhutan has recorded an average annual inflation rate of 5.64%, compared with 2.27% in Israel. In 2025, inflation was 2.6% in Bhutan and 3.04% in Israel.

Top exports between countries

Bhutan
Export category Export value
Israel
Export category Export value
Machinery & equipment $176K
Textiles & consumer goods $5K
Chemicals & pharma $3K

Balance of trade

Bhutan Israel
Current account balance
-$649M
2024
$8.53B
2025
Current account balance ranking
105/190
2024
26/190
2025
Current account balance, % of GDP
-19.4%
2024
+1.4%
2025
Goods imports
$1.28B
2024
$102B
2025
Goods exports
$660M
2024
$76.2B
2025
Service imports
$228M
2024
$53.2B
2025
Service exports
$288M
2024
$92.4B
2025
Imports of goods and services, % of GDP
47.9%
2024
25.4%
2025
Exports of goods and services, % of GDP
31.5%
2024
27.6%
2025

Economic freedom indices

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

Bhutan Israel
Economic freedom 57.5 68.4
Economic freedom ranking 115/197 47/197
Property rights 69.2 73.1
Government integrity 72.2 66.2
Judicial effectiveness 61.8 68.1
Tax burden 83.4 60.2
Government spending 74.1 52
Fiscal health 25.8 60.8
Business freedom 67.8 72.4
Labor freedom 60.1 56.8
Monetary freedom 71.6 78.2
Trade freedom 63.4 82.8
Investment freedom 20 70
Financial freedom 20 80

Economic freedom comparison by year

Bhutan
Israel
1x
Year Economic freedom index
Bhutan Israel
2026 57.5 68.4
2025 57.5 69.9
2024 55.4 70.1
2023 59 68.9
2022 59.3 68
2021 58.3 73.8
2020 62.1 74
2019 62.9 72.8
2018 61.8 72.2
2017 58.4 69.7
2016 59.5 70.7
2015 57.4 70.5
2014 56.7 68.4
2013 55 66.9
2012 56.6 67.8
2011 57.6 68.5
2010 57 67.7
2009 57.7 67.6
2008 - 66.3
2007 - 64.8
2006 - 64.4
2005 - 62.6
2004 - 61.4
2003 - 62.7
2002 - 66.9
2001 - 66.1
2000 - 65.5
1999 - 68.3
1998 - 68
1997 - 62.7
1996 - 62
1995 - 61.5

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

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

The Economic Freedom Index for Bhutan is 57.5, ranking 115/197, compared to 68.4 for Israel, ranking 47/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Bhutan Israel
Services, % of GDP
53.2%
2025
72.8%
2024
Industry, % of GDP
33.2%
2025
17.2%
2024
Agriculture, forestry, and fishing, % of GDP
13.7%
2025
1.29%
2024
GNI, Atlas method
$3.43B
2025
$569B
2025
GNI per capita, PPP
$18,520
2025
$58,870
2025
Total reserves including gold
$1.19B
2025
$229B
2025
Total reserves ranking
140/177
2025
18/177
2025
Net foreign direct investment
-$2.82M
2024
-$11.8B
2025
Net inflows of foreign direct investment
$2.82M
2024
$14.8B
2024
Net outflows of foreign direct investment
$0
2024
$9.92B
2024
Servicing debt to the IMF, % of GNI
5.11%
2024
n/a
Poverty at national poverty lines
12.4%
2022
22%
2020
Gross capital formation, % of GDP
42.6%
2024
24.3%
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/israel | CC BY

Compare countries by 7 more topics

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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 (1950–1999, 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. TradeMap (2022–2024, retrieved 2026-07-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  8. LivingCost (2026, retrieved 2026-07-08)
  9. Central Intelligence Agency (CIA) (2020, 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.