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Economy of Bhutan vs Mauritius compared: GDP & Debt

Updated on by Georank team

Bhutan has a GDP of $3.01B compared to $14.9B for Mauritius, ranking 170/197 and 143/197 by economy size, respectively.

Bhutan has $3.53B in government debt (110.4% of GDP), compared to $13.6B (91.1% of GDP) in Mauritius.

Bhutan vs Mauritius GDP by year

Bhutan
Mauritius
1x
Year GDP, current $
Bhutan Mauritius
2024 - $14,937,861,786
2023 $3,012,896,789 $14,072,212,290
2022 $2,898,227,744 $12,936,444,123
2021 $2,768,802,960 $11,622,048,697
2020 $2,457,604,334 $11,566,111,138
2019 $2,735,683,570 $14,645,235,205
2018 $2,583,335,722 $14,957,535,716
2017 $2,591,358,009 $13,896,938,315
2016 $2,357,504,761 $12,757,680,847
2015 $2,187,815,803 $12,162,211,503
2014 $2,089,079,571 $13,230,490,082
2013 $1,943,696,952 $12,434,596,541
2012 $1,973,387,228 $11,832,323,837
2011 $1,977,728,659 $11,677,718,382
2010 $1,708,880,730 $10,144,716,155
2009 $1,331,343,798 $9,264,513,545
2008 $1,317,517,835 $10,127,777,060
2007 $1,255,767,964 $8,277,442,915
2006 $942,879,879 $7,137,710,413
2005 $860,391,000 $6,576,108,447
2004 $735,348,490 $6,667,418,752
2003 $651,935,430 $5,894,873,920
2002 $559,345,264 $4,906,494,249
2001 $496,110,226 $4,675,755,867
2000 $460,733,418 $4,726,108,622
1999 $399,311,200 $4,402,193,195
1998 $363,458,381 $4,225,813,976
1997 $352,229,077 $4,243,755,308
1996 $303,408,346 $4,481,489,762
1995 $290,490,984 $4,094,741,652
1994 $258,954,708 $3,606,050,873
1993 $225,973,693 $3,307,302,126
1992 $240,233,531 $3,267,677,814
1991 $240,294,286 $2,895,354,736
1990 $287,765,007 $2,689,212,760
1989 $264,798,626 $2,211,312,823
1988 $272,298,067 $2,163,252,449
1987 $242,742,766 $1,906,174,438
1986 $191,218,115 $1,482,601,552
1985 $163,288,815 $1,090,611,325
1984 $160,423,494 $1,054,564,759
1983 $156,704,290 $1,104,956,573
1982 $141,439,317 $1,092,923,636
1981 $139,174,178 $1,157,769,444
1980 $128,669,201 $1,147,027,924
1979 $105,377,995 $1,227,446,632
1978 $94,086,228 $1,029,040,323
1977 $97,884,434 $834,722,972
1976 $88,461,263 $713,510,052
1975 $86,820,762 $673,311,287
1974 $92,901,784 $669,894,030
1973 $78,900,289 $404,285,775
1972 $70,139,867 $318,664,900
1971 $66,289,450 $251,437,338
1970 $61,812,113 $224,125,805
1969 - $221,553,613
1968 - $206,576,631
1967 - $238,439,291
1966 - $227,534,083
1965 - $230,024,161
1964 - $218,914,569
1963 - $253,839,558
1962 - $197,738,208
1961 - $191,757,729
1960 - $162,089,564

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

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

GDP per capita in Bhutan vs Mauritius by year

Bhutan
GDP per capita

GDP per capita, PPP
Mauritius
GDP per capita

GDP per capita, PPP
1x
Year Current $
Bhutan Mauritius
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 - - $11,991 $31,840
2023 $3,831 $16,215 $11,270 $29,561
2022 $3,711 $15,064 $10,247 $26,874
2021 $3,571 $13,459 $9,178 $23,010
2020 $3,192 $12,475 $9,136 $21,622
2019 $3,577 $12,909 $11,568 $24,375
2018 $3,400 $11,970 $11,819 $23,416
2017 $3,435 $11,677 $10,987 $22,898
2016 $3,152 $11,273 $10,095 $21,952
2015 $2,954 $10,214 $9,631 $20,270
2014 $2,849 $9,323 $10,490 $19,294
2013 $2,680 $8,667 $9,877 $18,435
2012 $2,751 $8,577 $9,422 $17,259
2011 $2,788 $7,935 $9,324 $16,884
2010 $2,436 $7,246 $8,113 $15,920
2009 $1,918 $6,466 $7,427 $15,105
2008 $1,920 $6,035 $8,141 $14,569
2007 $1,850 $5,729 $6,677 $13,612
2006 $1,406 $4,860 $5,784 $12,593
2005 $1,300 $4,523 $5,354 $11,703
2004 $1,130 $4,173 $5,461 $11,216
2003 $1,022 $3,942 $4,858 $10,535
2002 $896 $3,663 $4,073 $9,824
2001 $812 $3,338 $3,909 $9,586
2000 $772 $3,113 $3,982 $9,143
1999 $685 $3,017 $3,746 $8,344
1998 $638 $2,819 $3,642 $8,121
1997 $630 $2,683 $3,696 $7,651
1996 $553 $2,548 $3,952 $7,206
1995 $530 $2,374 $3,648 $6,771
1994 $467 $2,146 $3,240 $6,414
1993 $407 $2,001 $3,014 $6,116
1992 $416 $1,840 $3,013 $5,753
1991 $401 $1,657 $2,705 $5,351
1990 $488 $1,638 $2,540 $5,010
1989 $462 - $2,103 -
1988 $489 - $2,074 -
1987 $449 - $1,840 -
1986 $365 - $1,442 -
1985 $321 - $1,069 -
1984 $326 - $1,042 -
1983 $328 - $1,103 -
1982 $306 - $1,101 -
1981 $311 - $1,181 -
1980 $296.9 - $1,187 -
1979 $251.4 - $1,292 -
1978 $232.2 - $1,102 -
1977 $249.9 - $906 -
1976 $233.7 - $787 -
1975 $237.4 - $755 -
1974 $262.8 - $763 -
1973 $230.9 - $467 -
1972 $212.4 - $374 -
1971 $207.7 - $299.6 -
1970 $200.3 - $271.3 -
1969 - - $272.7 -
1968 - - $258.7 -
1967 - - $304 -
1966 - - $296 -
1965 - - $305 -
1964 - - $297.3 -
1963 - - $353 -
1962 - - $282.3 -
1961 - - $281.7 -
1960 - - $238.3 -

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

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

Bhutan's GDP per capita is $3,831, ranking 132/197, compared to $11,991 in Mauritius, ranking 78/197. Adjusted for purchasing power (GDP per capita PPP), Bhutan ranks 109th at $16,215, while Mauritius ranks 71st at $31,840.

Economic indicators

Bhutan Mauritius
Gross domestic product
$3.01B
2023
$14.9B
2024
GDP rank
170/197
2023
143/197
2024
GDP growth
4.63%
2022-2023
4.93%
2023-2024
GDP per capita
$3,831
2023
$11,991
2024
GDP per capita rank
132/197
2023
78/197
2024
GDP per capita, PPP
$16,215
2023
$31,840
2024
GDP per capita PPP rank
109/197
2023
71/197
2024
Government debt
$3.53B
2023
$13.6B
2024
Debt-to-GDP ratio
110.4%
2024
91.1%
2024
Government debt per person
$4,485
2023
$10,929
2024
Government debt per person rank
87/185
2023
54/185
2024
Average annual personal income after taxes
$5,506
2026
$7,203
2026
Market capitalization of domestic companies n/a
$9.12B
2024
Income share by richest 10%
22.7%
2022
29.9%
2017
Income share by poorest 10%
3.6%
2022
2.9%
2017
Government expenditure, % of GDP
27.1%
2024
33.7%
2024
Consumer prices inflation
4.3%
2023-2024
3.6%
2023-2024
Central bank interest rate n/a
4.5%
2025
Unemployment rate
3.28%
2024
5.21%
2024
Population
803385
1240121

Spending and national debt comparison by year

Bhutan
Spending

Debt
Mauritius
Spending

Debt
1x
Year % of GDP
Bhutan Mauritius
Government spending Government debt Government spending Government debt
2024 27.1% 110.4% 33.7% 91.1%
2023 28.8% 117.1% 29.9% 85.6%
2022 32.1% 119.9% 29.4% 86.9%
2021 36.6% 124.5% 30.8% 93.8%
2020 30.9% 116% 32.6% 93.4%
2019 24.2% 100.8% 27.8% 74.6%
2018 31.7% 103.4% 24.3% 64.1%
2017 30.6% 104.1% 24.3% 63%
2016 30.5% 103% 24% 64.3%
2015 27.5% 90.2% 24.5% 65%
2014 28.9% 89.8% 23% 60.6%
2013 32.5% 87.4% 24.1% 58.2%
2012 35.1% 71.5% 22.5% 55.9%
2011 36.1% 62.3% 23.7% 56.5%
2010 41.5% 55.8% 24% 56.4%
2009 39.3% 61% 25.2% 58.4%
2008 36.1% 60.6% 22.7% 49.4%
2007 33.2% 67.3% 21.5% 51.6%
2006 33.4% 80.1% 22.2% 59.3%
2005 36.4% 80.8% 23% 61.7%
2004 31% 76% 22.6% 61.1%
2003 34.7% 68.5% 23.4% 70.8%
2002 39.3% 57.7% 23.3% 66.7%
2001 50.3% 52.4% 22.4% 60.5%
2000 43% 44% 22.2% 59.7%
1999 40.2% 39.2% 27.5% -
1998 31.1% 36.4% 26.6% -
1997 37.8% 33% 27.5% -
1996 37.9% 36.8% 27.4% -
1995 38.6% 38.7% 27.3% -
1994 37.9% 53.2% 27.5% -
1993 35.2% 60.2% 24.5% -
1992 34.5% 35.6% 26.8% -
1991 30.8% 33.5% 27.2% -
1990 35.8% 27.4% 30.2% -
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/mauritius | CC BY

In 2024, Bhutan's government spending was $869M, accounting for 27.1% of its GDP, while Mauritius spent $5.03B, or 33.7% of GDP.

Debt-to-GDP ratio is 110.4% in Bhutan and 91.1% in Mauritius, ranking 17/185 and 30/185, respectively.

Government deficit by year

Deficit/surplus
Bhutan

Mauritius
1x
Year Deficit/surplus, % of GDP
Bhutan Mauritius
2024 -0.17% -7.47%
2023 -4.73% -4.7%
2022 -6.95% -3.34%
2021 -5.76% -4.45%
2020 -1.81% -10.6%
2019 -1.49% -7.53%
2018 -1.52% -2.19%
2017 -4.49% -1.66%
2016 -2.31% -2.81%
2015 -0.49% -3.59%
2014 2.46% -3.13%
2013 -4.55% -3.4%
2012 -2.1% -1.78%
2011 -3.02% -3.09%
2010 1.92% -3.07%
2009 -0.8% -3.41%
2008 -2.57% -2.66%
2007 0.79% -3.09%
2006 -0.07% -4.14%
2005 -6.96% -4.44%
2004 1.8% -4.34%
2003 -10.2% -4.82%
2002 -4.33% -5.18%
2001 -12.2% -5.53%
2000 -3.39% -4.4%
1999 -1.28% -
1998 1.28% -
1997 -1.92% -
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/mauritius | 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 Mauritius' deficit of $662M, or 4.7% of GDP.

Over the past 24 years, Bhutan recorded a fiscal deficit in 20 of those years, while Mauritius ran a deficit in 24 years. On average, Bhutan posted an annual deficit equal to 3.03% of GDP, compared to deficit of 4.06% of GDP for Mauritius.

Inflation comparison by year

Inflation
Bhutan

Mauritius
1x
Year Consumer prices inflation
Bhutan Mauritius
2024 4.3% 3.6%
2023 4.5% 7.05%
2022 5.9% 10.8%
2021 8.2% 4.03%
2020 3% 2.58%
2019 2.8% 0.41%
2018 3.6% 3.22%
2017 4.3% 3.67%
2016 3.3% 0.98%
2015 6.7% 1.29%
2014 9.6% 3.22%
2013 8.1% 3.54%
2012 10.1% 3.85%
2011 8.6% 6.52%
2010 4.8% 2.93%
2009 7.1% 2.52%
2008 6.3% 9.73%
2007 5.2% 8.83%
2006 4.9% 8.91%
2005 4.8% 4.94%
2004 3.3% 4.71%
2003 2.5% 3.92%
2002 2.9% 6.42%
2001 3.7% 5.39%
2000 7.2% 4.2%
1999 9.1% 6.91%
1998 7.6% 6.81%
1997 8.6% 6.83%

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/mauritius | CC BY

Over the past 28 years, Bhutan has recorded an average annual inflation rate of 5.75%, compared with 4.92% in Mauritius. In 2024, inflation was 4.3% in Bhutan and 3.6% in Mauritius.

Balance of trade

Bhutan Mauritius
Current account balance
-$670M
2024
-$1.05B
2024
Current account balance ranking
114/190
2024
126/190
2024
Current account balance, % of GDP
-32%
2023
-7.03%
2024
Goods imports
$1.29B
2024
$6.35B
2024
Goods exports
$656M
2024
$2.37B
2024
Service imports
$228M
2024
$2.28B
2024
Service exports
$288M
2024
$4.19B
2024
Imports of goods and services, % of GDP
53.3%
2023
78.3%
2024
Exports of goods and services, % of GDP
28.4%
2023
67.1%
2024

Economic freedom indices

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

Bhutan Mauritius
Economic freedom 57.5 73
Economic freedom ranking 115/197 26/197
Property rights 69.2 83.9
Government integrity 72.2 53.4
Judicial effectiveness 61.8 80.7
Tax burden 83.4 89.6
Government spending 74.1 73.8
Fiscal health 25.8 45.5
Business freedom 67.8 81.5
Labor freedom 60.1 69.6
Monetary freedom 71.6 70.7
Trade freedom 63.4 87
Investment freedom 20 70
Financial freedom 20 70

Economic freedom comparison by year

Bhutan
Mauritius
1x
Year Economic freedom index
Bhutan Mauritius
2026 57.5 73
2025 57.5 75
2024 55.4 71.5
2023 59 70.6
2022 59.3 70.9
2021 58.3 77
2020 62.1 74.9
2019 62.9 73
2018 61.8 75.1
2017 58.4 74.7
2016 59.5 74.7
2015 57.4 76.4
2014 56.7 76.5
2013 55 76.9
2012 56.6 77
2011 57.6 76.2
2010 57 76.3
2009 57.7 74.3
2008 - 72.6
2007 - 69.4
2006 - 67.4
2005 - 67.2
2004 - 64.3
2003 - 64.4
2002 - 67.7
2001 - 66.4
2000 - 67.2
1999 - 68.5

Data sources: The Heritage Foundation | Economic Freedom Index (1999–2026, retrieved 2026-03-09).

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

The Economic Freedom Index for Bhutan is 57.5, ranking 115/197, compared to 73 for Mauritius, ranking 26/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Bhutan Mauritius
Services, % of GDP
52.8%
2023
64.4%
2024
Industry, % of GDP
29.4%
2023
17.8%
2024
Agriculture, forestry, and fishing, % of GDP
15%
2023
4.23%
2024
GNI, Atlas method
$2.93B
2023
$16.2B
2024
GNI per capita, PPP
$15,320
2023
$35,100
2024
Total reserves including gold
$941M
2024
$8.51B
2024
Total reserves ranking
143/177
2024
83/177
2024
Net foreign direct investment
-$22.8M
2024
$963M
2024
Net inflows of foreign direct investment
$2.82M
2024
$681M
2024
Net outflows of foreign direct investment
$0
2024
$38.3M
2024
Servicing debt to the IMF, % of GNI
4.96%
2023
10.1%
2024
Poverty at national poverty lines
12.4%
2022
8.4%
2023
Gross capital formation, % of GDP
45.3%
2023
21.2%
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/mauritius | 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 (1999–2026, 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.