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Economy of Bhutan vs Ivory Coast compared: GDP & Debt

Updated on by Georank team

Bhutan has a GDP of $3.01B compared to $87.1B for Ivory Coast, ranking 170/197 and 77/197 by economy size, respectively.

Bhutan has $3.53B in government debt (110.4% of GDP), compared to $51.6B (59.3% of GDP) in Ivory Coast.

Bhutan vs Ivory Coast GDP by year

Bhutan
Ivory Coast
1x
Year GDP, current $
Bhutan Ivory Coast
2024 - $87,113,179,149
2023 $3,012,896,789 $80,780,312,569
2022 $2,898,227,744 $70,922,824,814
2021 $2,768,802,960 $72,794,636,654
2020 $2,457,604,334 $63,027,852,805
2019 $2,735,683,570 $60,382,894,697
2018 $2,583,335,722 $58,522,477,787
2017 $2,591,358,009 $52,512,343,997
2016 $2,357,504,761 $48,407,761,037
2015 $2,187,815,803 $45,815,005,169
2014 $2,089,079,571 $48,843,005,614
2013 $1,943,696,952 $42,760,235,485
2012 $1,973,387,228 $36,302,302,877
2011 $1,977,728,659 $36,693,710,801
2010 $1,708,880,730 $34,936,307,980
2009 $1,331,343,798 $33,886,813,250
2008 $1,317,517,835 $34,078,240,293
2007 $1,255,767,964 $28,760,090,953
2006 $942,879,879 $25,281,413,263
2005 $860,391,000 $24,036,918,703
2004 $735,348,490 $23,510,575,681
2003 $651,935,430 $21,251,754,340
2002 $559,345,264 $18,054,383,321
2001 $496,110,226 $16,810,537,044
2000 $460,733,418 $16,577,533,892
1999 $399,311,200 $18,870,992,456
1998 $363,458,381 $19,619,654,756
1997 $352,229,077 $18,047,558,038
1996 $303,408,346 $18,071,152,831
1995 $290,490,984 $11,000,146,267
1994 $258,954,708 $8,313,557,510
1993 $225,973,693 $11,045,760,288
1992 $240,233,531 $11,152,971,274
1991 $240,294,286 $10,492,628,581
1990 $287,765,007 $10,795,850,583
1989 $264,798,626 $9,757,410,645
1988 $272,298,067 $10,255,169,806
1987 $242,742,766 $10,087,654,465
1986 $191,218,115 $9,158,302,100
1985 $163,288,815 $6,977,650,644
1984 $160,423,494 $6,841,639,247
1983 $156,704,290 $6,838,184,773
1982 $141,439,317 $7,567,110,849
1981 $139,174,178 $8,432,589,942
1980 $128,669,201 $10,175,617,609
1979 $105,377,995 $9,142,933,967
1978 $94,086,228 $7,900,526,298
1977 $97,884,434 $6,265,068,189
1976 $88,461,263 $4,662,053,825
1975 $86,820,762 $3,893,839,190
1974 $92,901,784 $3,070,152,309
1973 $78,900,289 $2,508,421,426
1972 $70,139,867 $1,849,400,402
1971 $66,289,450 $1,584,128,509
1970 $61,812,113 $1,455,482,795
1969 - $1,361,360,293
1968 - $1,281,281,277
1967 - $1,082,922,725
1966 - $1,024,102,880
1965 - $919,771,229
1964 - $921,063,327
1963 - $761,047,198
1962 - $645,284,474
1961 - $618,245,634
1960 - $546,203,559

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

GeoRank.org/economy/bhutan/ivory-coast | CC BY

GDP per capita in Bhutan vs Ivory Coast by year

Bhutan
GDP per capita

GDP per capita, PPP
Ivory Coast
GDP per capita

GDP per capita, PPP
1x
Year Current $
Bhutan Ivory Coast
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 - - $2,728 $7,669
2023 $3,831 $16,215 $2,592 $7,237
2022 $3,711 $15,064 $2,333 $6,719
2021 $3,571 $13,459 $2,456 $6,045
2020 $3,192 $12,475 $2,180 $5,544
2019 $3,577 $12,909 $2,142 $5,516
2018 $3,400 $11,970 $2,131 $4,946
2017 $3,435 $11,677 $1,964 $4,690
2016 $3,152 $11,273 $1,863 $4,531
2015 $2,954 $10,214 $1,815 $4,404
2014 $2,849 $9,323 $1,991 $4,074
2013 $2,680 $8,667 $1,786 $3,619
2012 $2,751 $8,577 $1,547 $3,291
2011 $2,788 $7,935 $1,597 $3,176
2010 $2,436 $7,246 $1,554 $3,361
2009 $1,918 $6,466 $1,540 $3,177
2008 $1,920 $6,035 $1,584 $3,116
2007 $1,850 $5,729 $1,368 $2,985
2006 $1,406 $4,860 $1,230 $2,942
2005 $1,300 $4,523 $1,198 $2,842
2004 $1,130 $4,173 $1,200 $2,794
2003 $1,022 $3,942 $1,111 $2,702
2002 $896 $3,663 $968 $2,851
2001 $812 $3,338 $925 $2,962
2000 $772 $3,113 $937 $3,041
1999 $685 $3,017 $1,096 $3,065
1998 $638 $2,819 $1,177 $3,086
1997 $630 $2,683 $1,125 $3,040
1996 $553 $2,548 $1,170 $2,832
1995 $530 $2,374 $740 $2,683
1994 $467 $2,146 $582 $2,551
1993 $407 $2,001 $804 $2,577
1992 $416 $1,840 $845 $2,625
1991 $401 $1,657 $827 $2,677
1990 $488 $1,638 $886 $2,693
1989 $462 - $833 -
1988 $489 - $910 -
1987 $449 - $930 -
1986 $365 - $877 -
1985 $321 - $695 -
1984 $326 - $709 -
1983 $328 - $737 -
1982 $306 - $849 -
1981 $311 - $986 -
1980 $296.9 - $1,238 -
1979 $251.4 - $1,157 -
1978 $232.2 - $1,039 -
1977 $249.9 - $856 -
1976 $233.7 - $661 -
1975 $237.4 - $575 -
1974 $262.8 - $474 -
1973 $230.9 - $406 -
1972 $212.4 - $313 -
1971 $207.7 - $280.3 -
1970 $200.3 - $269 -
1969 - - $262.2 -
1968 - - $256.8 -
1967 - - $225.6 -
1966 - - $221.8 -
1965 - - $207 -
1964 - - $215.5 -
1963 - - $185.1 -
1962 - - $163.1 -
1961 - - $162.3 -
1960 - - $148.7 -

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

GeoRank.org/economy/bhutan/ivory-coast | CC BY

Bhutan's GDP per capita is $3,831, ranking 132/197, compared to $2,728 in Ivory Coast, ranking 142/197. Adjusted for purchasing power (GDP per capita PPP), Bhutan ranks 109th at $16,215, while Ivory Coast ranks 145th at $7,669.

Economic indicators

Bhutan Ivory Coast
Gross domestic product
$3.01B
2023
$87.1B
2024
GDP rank
170/197
2023
77/197
2024
GDP growth
4.63%
2022-2023
6.02%
2023-2024
GDP per capita
$3,831
2023
$2,728
2024
GDP per capita rank
132/197
2023
142/197
2024
GDP per capita, PPP
$16,215
2023
$7,669
2024
GDP per capita PPP rank
109/197
2023
145/197
2024
Government debt
$3.53B
2023
$51.6B
2024
Debt-to-GDP ratio
110.4%
2024
59.3%
2024
Government debt per person
$4,485
2023
$1,616
2024
Government debt per person rank
87/185
2023
125/185
2024
Average annual personal income after taxes
$5,506
2026
$2,733
2026
Market capitalization of domestic companies n/a
$7.33B
2020
Income share by richest 10%
22.7%
2022
27.8%
2021
Income share by poorest 10%
3.6%
2022
3.1%
2021
Government expenditure, % of GDP
27.1%
2024
20.4%
2024
Consumer prices inflation
4.3%
2023-2024
3.45%
2023-2024
Unemployment rate
3.28%
2024
2.31%
2022
Population
803385
33722528

Spending and national debt comparison by year

Bhutan
Spending

Debt
Ivory Coast
Spending

Debt
1x
Year % of GDP
Bhutan Ivory Coast
Government spending Government debt Government spending Government debt
2024 27.1% 110.4% 20.4% 59.3%
2023 28.8% 117.1% 21.3% 57.5%
2022 32.1% 119.9% 21.9% 56%
2021 36.6% 124.5% 20.5% 50.2%
2020 30.9% 116% 20.4% 46.3%
2019 24.2% 100.8% 17.2% 37.2%
2018 31.7% 103.4% 17.6% 35.3%
2017 30.6% 104.1% 18.1% 32.6%
2016 30.5% 103% 17.6% 31.1%
2015 27.5% 90.2% 16.5% 29.2%
2014 28.9% 89.8% 15.2% 26.7%
2013 32.5% 87.4% 15.9% 24.6%
2012 35.1% 71.5% 16.1% 24.7%
2011 36.1% 62.3% 13.2% 50%
2010 41.5% 55.8% 14.5% 45.6%
2009 39.3% 61% 14.4% 46.5%
2008 36.1% 60.6% 14.6% 51.2%
2007 33.2% 67.3% 14.8% 53.5%
2006 33.4% 80.1% 14.5% 57.5%
2005 36.4% 80.8% 13.6% 58.2%
2004 31% 76% 13.5% 56.7%
2003 34.7% 68.5% 12.7% 56.4%
2002 39.3% 57.7% 13.1% 63%
2001 50.3% 52.4% 11.4% 71.2%
2000 43% 44% 12.9% 74%
1999 40.2% 39.2% 13.7% 78%
1998 31.1% 36.4% 14.6% 75.2%
1997 37.8% 33% 15.2% 84.2%
1996 37.9% 36.8% - -
1995 38.6% 38.7% - -
1994 37.9% 53.2% - -
1993 35.2% 60.2% - -
1992 34.5% 35.6% - -
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/ivory-coast | CC BY

In 2024, Bhutan's government spending was $869M, accounting for 27.1% of its GDP, while Ivory Coast spent $17.7B, or 20.4% of GDP.

Debt-to-GDP ratio is 110.4% in Bhutan and 59.3% in Ivory Coast, ranking 17/185 and 82/185, respectively.

Government deficit by year

Deficit/surplus
Bhutan

Ivory Coast
1x
Year Deficit/surplus, % of GDP
Bhutan Ivory Coast
2024 -0.17% -3.97%
2023 -4.73% -5.19%
2022 -6.95% -6.74%
2021 -5.76% -4.86%
2020 -1.81% -5.42%
2019 -1.49% -2.22%
2018 -1.52% -2.9%
2017 -4.49% -3.27%
2016 -2.31% -2.98%
2015 -0.49% -2.04%
2014 2.46% -1.57%
2013 -4.55% -1.62%
2012 -2.1% -2.28%
2011 -3.02% -2.89%
2010 1.92% -1.34%
2009 -0.8% -1%
2008 -2.57% -0.21%
2007 0.79% -0.39%
2006 -0.07% -1.03%
2005 -6.96% -1.03%
2004 1.8% -1.04%
2003 -10.2% -1.26%
2002 -4.33% -0.64%
2001 -12.2% 0.7%
2000 -3.39% -0.83%
1999 -1.28% -1.27%
1998 1.28% -0.7%
1997 -1.92% -0.75%
1996 2.55% -
1995 -0.88% -
1994 -0.13% -
1993 4.71% -
1992 -3.47% -
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/ivory-coast | 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 Ivory Coast's deficit of $4.2B, or 5.19% of GDP.

Over the past 27 years, Bhutan recorded a fiscal deficit in 22 of those years, while Ivory Coast ran a deficit in 26 years. On average, Bhutan posted an annual deficit equal to 2.77% of GDP, compared to deficit of 2.03% of GDP for Ivory Coast.

Inflation comparison by year

Inflation
Bhutan

Ivory Coast
1x
Year Consumer prices inflation
Bhutan Ivory Coast
2024 4.3% 3.45%
2023 4.5% 4.37%
2022 5.9% 5.23%
2021 8.2% 4.16%
2020 3% 2.41%
2019 2.8% 0.79%
2018 3.6% 0.4%
2017 4.3% 0.69%
2016 3.3% 0.72%
2015 6.7% 1.25%
2014 9.6% 0.45%
2013 8.1% 2.58%
2012 10.1% 1.3%
2011 8.6% 4.91%
2010 4.8% 1.23%
2009 7.1% 1.02%
2008 6.3% 6.31%
2007 5.2% 1.89%
2006 4.9% 2.47%
2005 4.8% 3.89%
2004 3.3% 1.46%
2003 2.5% 3.3%
2002 2.9% 3.08%
2001 3.7% 4.36%
2000 7.2% 2.53%
1999 9.1% 0.7%
1998 7.6% 4.61%
1997 8.6% 4.02%

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/ivory-coast | CC BY

Over the past 28 years, Bhutan has recorded an average annual inflation rate of 5.75%, compared with 2.63% in Ivory Coast. In 2024, inflation was 4.3% in Bhutan and 3.45% in Ivory Coast.

Balance of trade

Bhutan Ivory Coast
Current account balance
-$670M
2024
-$9.21B
2023
Current account balance ranking
114/190
2024
175/190
2023
Current account balance, % of GDP
-32%
2023
-11.4%
2023
Goods imports
$1.29B
2024
$15.4B
2023
Goods exports
$656M
2024
$17.1B
2023
Service imports
$228M
2024
$8.78B
2023
Service exports
$288M
2024
$1.5B
2023
Imports of goods and services, % of GDP
53.3%
2023
25.2%
2024
Exports of goods and services, % of GDP
28.4%
2023
26%
2024

Economic freedom indices

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

Bhutan Ivory Coast
Economic freedom 57.5 58.1
Economic freedom ranking 115/197 111/197
Property rights 69.2 43.9
Government integrity 72.2 39.3
Judicial effectiveness 61.8 30.2
Tax burden 83.4 81.6
Government spending 74.1 86.6
Fiscal health 25.8 48
Business freedom 67.8 68.3
Labor freedom 60.1 57.1
Monetary freedom 71.6 67.6
Trade freedom 63.4 74.4
Investment freedom 20 50
Financial freedom 20 50

Economic freedom comparison by year

Bhutan
Ivory Coast
1x
Year Economic freedom index
Bhutan Ivory Coast
2026 57.5 58.1
2025 57.5 57.8
2024 55.4 58.4
2023 59 60.4
2022 59.3 61.6
2021 58.3 61.7
2020 62.1 59.7
2019 62.9 62.4
2018 61.8 62
2017 58.4 63
2016 59.5 60
2015 57.4 58.5
2014 56.7 57.7
2013 55 54.1
2012 56.6 54.3
2011 57.6 55.4
2010 57 54.1
2009 57.7 55
2008 - 53.9
2007 - 54.9
2006 - 56.2
2005 - 56.6
2004 - 57.8
2003 - 56.7
2002 - 57.3
2001 - 54.8
2000 - 50.2
1999 - 51.7
1998 - 51.3
1997 - 50.5
1996 - 49.9
1995 - 53.4

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

GeoRank.org/economy/bhutan/ivory-coast | CC BY

The Economic Freedom Index for Bhutan is 57.5, ranking 115/197, compared to 58.1 for Ivory Coast, ranking 111/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Bhutan Ivory Coast
Services, % of GDP
52.8%
2023
51.9%
2024
Industry, % of GDP
29.4%
2023
24%
2024
Agriculture, forestry, and fishing, % of GDP
15%
2023
15.9%
2024
GNI, Atlas method
$2.93B
2023
$80.9B
2024
GNI per capita, PPP
$15,320
2023
$7,360
2024
Total reserves including gold
$941M
2024
n/a
Total reserves ranking
143/177
2024
n/a
Net foreign direct investment
-$22.8M
2024
-$2B
2023
Net inflows of foreign direct investment
$2.82M
2024
$3.12B
2024
Net outflows of foreign direct investment
$0
2024
$228M
2024
Servicing debt to the IMF, % of GNI
4.96%
2023
6.44%
2024
Poverty at national poverty lines
12.4%
2022
37.5%
2021
Gross capital formation, % of GDP
45.3%
2023
20.9%
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/ivory-coast | 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)

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.