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Economy of Bhutan vs Myanmar compared: GDP & Debt

Updated on by Georank team

Bhutan has a GDP of $3.01B compared to $74.1B for Myanmar, ranking 170/197 and 85/197 by economy size, respectively.

Bhutan has $3.53B in government debt (110.4% of GDP), compared to $44B (59.3% of GDP) in Myanmar.

Bhutan vs Myanmar GDP by year

Bhutan
Myanmar
1x
Year GDP, current $
Bhutan Myanmar
2024 - $74,068,349,524
2023 $3,012,896,789 $66,757,619,000
2022 $2,898,227,744 $62,253,049,903
2021 $2,768,802,960 $66,345,291,149
2020 $2,457,604,334 $79,006,113,670
2019 $2,735,683,570 $75,065,106,243
2018 $2,583,335,722 $67,860,515,993
2017 $2,591,358,009 $66,053,040,475
2016 $2,357,504,761 $63,298,361,984
2015 $2,187,815,803 $59,607,290,408
2014 $2,089,079,571 $65,531,374,210
2013 $1,943,696,952 $60,269,732,855
2012 $1,973,387,228 $59,937,796,648
2011 $1,977,728,659 $59,977,326,086
2010 $1,708,880,730 $49,540,813,342
2009 $1,331,343,798 $36,906,181,381
2008 $1,317,517,835 $31,862,554,102
2007 $1,255,767,964 $20,182,477,481
2006 $942,879,879 $14,502,553,710
2005 $860,391,000 $11,986,972,419
2004 $735,348,490 $10,567,354,056
2003 $651,935,430 $10,467,109,978
2002 $559,345,264 $6,777,632,512
2001 $496,110,226 $6,477,790,688
2000 $460,733,418 $8,905,066,164
1999 $399,311,200 $8,486,832,801
1998 $363,458,381 $6,459,461,639
1997 $352,229,077 $4,722,288,496
1996 $303,408,346 $6,123,556,717
1995 $290,490,984 $5,289,174,943
1994 $258,954,708 $4,432,257,174
1993 $225,973,693 $3,163,020,035
1992 $240,233,531 $2,411,552,289
1991 $240,294,286 $2,069,832,687
1990 $287,765,007 $2,115,193,513
1989 $264,798,626 $2,013,448,229
1988 $272,298,067 $1,541,088,312
1987 $242,742,766 $1,562,448,077
1986 $191,218,115 $1,582,873,750
1985 $163,288,815 $1,478,908,173
1984 $160,423,494 $1,304,063,253
1983 $156,704,290 $1,381,573,615
1982 $141,439,317 $1,481,165,468
1981 $139,174,178 $1,111,000,765
1980 $128,669,201 $1,038,225,167
1979 $105,377,995 $952,265,043
1978 $94,086,228 $935,408,775
1977 $97,884,434 $873,579,932
1976 $88,461,263 $1,204,699,849
1975 $86,820,762 $1,061,107,354
1974 $92,901,784 $1,225,589,878
1973 $78,900,289 $719,754,655
1972 $70,139,867 $662,213,083
1971 $66,289,450 $587,448,405
1970 $61,812,113 $563,555,631
1969 - $571,854,215
1968 - $559,956,130
1967 - $420,359,036
1966 - $293,103,479
1965 - $367,053,117
1964 - $411,419,906
1963 - $598,998,419
1962 - $634,528,872
1961 - $605,581,577
1960 - $545,098,448

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

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

GDP per capita in Bhutan vs Myanmar by year

Bhutan
GDP per capita

GDP per capita, PPP
Myanmar
GDP per capita

GDP per capita, PPP
1x
Year Current $
Bhutan Myanmar
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 - - $1,359 $5,997
2023 $3,831 $16,215 $1,233 $5,953
2022 $3,711 $15,064 $1,158 $5,732
2021 $3,571 $13,459 $1,243 $5,178
2020 $3,192 $12,475 $1,490 $5,741
2019 $3,577 $12,909 $1,426 $6,101
2018 $3,400 $11,970 $1,298 $5,581
2017 $3,435 $11,677 $1,273 $4,706
2016 $3,152 $11,273 $1,229 $4,460
2015 $2,954 $10,214 $1,167 $4,459
2014 $2,849 $9,323 $1,293 $4,376
2013 $2,680 $8,667 $1,199 $4,144
2012 $2,751 $8,577 $1,203 $3,845
2011 $2,788 $7,935 $1,214 $3,579
2010 $2,436 $7,246 $1,011 $3,348
2009 $1,918 $6,466 $758 $3,040
2008 $1,920 $6,035 $658 $2,748
2007 $1,850 $5,729 $419 $2,459
2006 $1,406 $4,860 $303 $2,153
2005 $1,300 $4,523 $252.7 $1,860
2004 $1,130 $4,173 $224.5 $1,601
2003 $1,022 $3,942 $224.3 $1,385
2002 $896 $3,663 $146.6 $1,204
2001 $812 $3,338 $141.5 $1,069
2000 $772 $3,113 $196.6 $949
1999 $685 $3,017 $189.5 $825
1998 $638 $2,819 $146 $742
1997 $630 $2,683 $108 $702
1996 $553 $2,548 $141.9 $661
1995 $530 $2,374 $124.1 $618
1994 $467 $2,146 $105.4 $573
1993 $407 $2,001 $76.2 $529
1992 $416 $1,840 $58.9 $494
1991 $401 $1,657 $51.2 $447
1990 $488 $1,638 $53.1 $441
1989 $462 - $51.3 -
1988 $489 - $39.9 -
1987 $449 - $41.1 -
1986 $365 - $42.4 -
1985 $321 - $40.4 -
1984 $326 - $36.3 -
1983 $328 - $39.3 -
1982 $306 - $43 -
1981 $311 - $32.8 -
1980 $296.9 - $31.2 -
1979 $251.4 - $29.2 -
1978 $232.2 - $29.3 -
1977 $249.9 - $27.9 -
1976 $233.7 - $39.2 -
1975 $237.4 - $35.2 -
1974 $262.8 - $41.4 -
1973 $230.9 - $24.8 -
1972 $212.4 - $23.3 -
1971 $207.7 - $21.1 -
1970 $200.3 - $20.7 -
1969 - - $21.5 -
1968 - - $21.5 -
1967 - - $16.5 -
1966 - - $11.8 -
1965 - - $15.1 -
1964 - - $17.3 -
1963 - - $25.8 -
1962 - - $27.9 -
1961 - - $27.3 -
1960 - - $25.1 -

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

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

Bhutan's GDP per capita is $3,831, ranking 132/197, compared to $1,359 in Myanmar, ranking 165/197. Adjusted for purchasing power (GDP per capita PPP), Bhutan ranks 109th at $16,215, while Myanmar ranks 153rd at $5,997.

Economic indicators

Bhutan Myanmar
Gross domestic product
$3.01B
2023
$74.1B
2024
GDP rank
170/197
2023
85/197
2024
GDP growth
4.63%
2022-2023
-0.97%
2023-2024
GDP per capita
$3,831
2023
$1,359
2024
GDP per capita rank
132/197
2023
165/197
2024
GDP per capita, PPP
$16,215
2023
$5,997
2024
GDP per capita PPP rank
109/197
2023
153/197
2024
Government debt
$3.53B
2023
$44B
2024
Debt-to-GDP ratio
110.4%
2024
59.3%
2024
Government debt per person
$4,485
2023
$806
2024
Government debt per person rank
87/185
2023
150/185
2024
Average annual personal income after taxes
$5,506
2026
$1,646
2026
Income share by richest 10%
22.7%
2022
25.5%
2017
Income share by poorest 10%
3.6%
2022
3.8%
2017
Government expenditure, % of GDP
27.1%
2024
20.7%
2024
Consumer prices inflation
4.3%
2023-2024
8.83%
2018-2019
Unemployment rate
3.28%
2024
1.48%
2020
Population
803385
55292116

Spending and national debt comparison by year

Bhutan
Spending

Debt
Myanmar
Spending

Debt
1x
Year % of GDP
Bhutan Myanmar
Government spending Government debt Government spending Government debt
2024 27.1% 110.4% 20.7% 59.3%
2023 28.8% 117.1% 21.4% 59.1%
2022 32.1% 119.9% 21.3% 56.1%
2021 36.6% 124.5% 20.9% 63.4%
2020 30.9% 116% 21.3% 49.1%
2019 24.2% 100.8% 20.5% 37.6%
2018 31.7% 103.4% 18.7% 39.9%
2017 30.6% 104.1% 19.7% 41.9%
2016 30.5% 103% 21.3% 35.7%
2015 27.5% 90.2% 23.7% 36.6%
2014 28.9% 89.8% 24.7% 34.5%
2013 32.5% 87.4% 23.9% 44.8%
2012 35.1% 71.5% 20% 48%
2011 36.1% 62.3% 15.6% 49.9%
2010 41.5% 55.8% 15.8% 54.4%
2009 39.3% 61% 14.4% 56.4%
2008 36.1% 60.6% 14.4% 59.8%
2007 33.2% 67.3% 15.7% 77.4%
2006 33.4% 80.1% 15.6% 103.1%
2005 36.4% 80.8% 14.6% 119%
2004 31% 76% 14.6% 126.6%
2003 34.7% 68.5% 14.3% 146%
2002 39.3% 57.7% 15.3% 190.6%
2001 50.3% 52.4% 19.1% 262%
2000 43% 44% 21.4% 164.5%
1999 40.2% 39.2% 22.8% 150.7%
1998 31.1% 36.4% 25.2% 208.6%
1997 37.8% 33% - -
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/myanmar | CC BY

In 2024, Bhutan's government spending was $869M, accounting for 27.1% of its GDP, while Myanmar spent $15.3B, or 20.7% of GDP.

Debt-to-GDP ratio is 110.4% in Bhutan and 59.3% in Myanmar, ranking 17/185 and 81/185, respectively.

Government deficit by year

Deficit/surplus
Bhutan

Myanmar
1x
Year Deficit/surplus, % of GDP
Bhutan Myanmar
2024 -0.17% -5.06%
2023 -4.73% -5.18%
2022 -6.95% -2.82%
2021 -5.76% -2.47%
2020 -1.81% -6.5%
2019 -1.49% -4.7%
2018 -1.52% -2.77%
2017 -4.49% -3.42%
2016 -2.31% -2.53%
2015 -0.49% -4.33%
2014 2.46% -1.06%
2013 -4.55% -1.53%
2012 -2.1% -2.7%
2011 -3.02% -4.82%
2010 1.92% -5.4%
2009 -0.8% -3.55%
2008 -2.57% -2.73%
2007 0.79% -3.52%
2006 -0.07% -3.42%
2005 -6.96% -3.49%
2004 1.8% -4.62%
2003 -10.2% -4.24%
2002 -4.33% -4.01%
2001 -12.2% -6.34%
2000 -3.39% -6.03%
1999 -1.28% -4.46%
1998 1.28% -4.89%
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/myanmar | 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 Myanmar's deficit of $3.46B, or 5.18% of GDP.

Over the past 26 years, Bhutan recorded a fiscal deficit in 21 of those years, while Myanmar ran a deficit in 26 years. On average, Bhutan posted an annual deficit equal to 2.8% of GDP, compared to deficit of 3.9% of GDP for Myanmar.

Inflation comparison by year

Inflation
Bhutan

Myanmar
1x
Year Consumer prices inflation
Bhutan Myanmar
2024 4.3% -
2023 4.5% -
2022 5.9% -
2021 8.2% -
2020 3% -
2019 2.8% 8.83%
2018 3.6% 6.87%
2017 4.3% 4.57%
2016 3.3% 6.93%
2015 6.7% 9.45%
2014 9.6% 4.95%
2013 8.1% 5.64%
2012 10.1% 1.47%
2011 8.6% 5.02%
2010 4.8% 7.72%
2009 7.1% 1.47%
2008 6.3% 26.8%
2007 5.2% 35%
2006 4.9% 20%
2005 4.8% 9.37%
2004 3.3% 4.53%
2003 2.5% 36.6%
2002 2.9% 57.1%
2001 3.7% 21.1%
2000 7.2% -0.11%
1999 9.1% 18.4%
1998 7.6% 51.5%
1997 8.6% 29.7%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (1997–2019, retrieved 2026-04-06).

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

Over the past 23 years, Bhutan has recorded an average annual inflation rate of 5.87%, compared with 16.2% in Myanmar. In 2019, inflation was 4.3% in Bhutan and 8.83% in Myanmar.

Balance of trade

Bhutan Myanmar
Current account balance
-$670M
2024
$67.7M
2019
Current account balance ranking
114/190
2024
71/190
2019
Current account balance, % of GDP
-32%
2023
+0.09%
2019
Goods imports
$1.29B
2024
$13.7B
2019
Goods exports
$656M
2024
$10.8B
2019
Service imports
$228M
2024
$3.66B
2019
Service exports
$288M
2024
$6.68B
2019
Imports of goods and services, % of GDP
53.3%
2023
n/a
Exports of goods and services, % of GDP
28.4%
2023
24.3%
2025

Economic freedom indices

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

Bhutan Myanmar
Economic freedom 57.5 44.5
Economic freedom ranking 115/197 180/197
Property rights 69.2 5.7
Government integrity 72.2 18.1
Judicial effectiveness 61.8 3.9
Tax burden 83.4 88.6
Government spending 74.1 86.6
Fiscal health 25.8 62.7
Business freedom 67.8 37.9
Labor freedom 60.1 53.2
Monetary freedom 71.6 57.5
Trade freedom 63.4 69.4
Investment freedom 20 30
Financial freedom 20 20

Economic freedom comparison by year

Bhutan
Myanmar
1x
Year Economic freedom index
Bhutan Myanmar
2026 57.5 44.5
2025 57.5 43.7
2024 55.4 42.2
2023 59 46.5
2022 59.3 49.6
2021 58.3 55.2
2020 62.1 54
2019 62.9 53.6
2018 61.8 53.9
2017 58.4 52.5
2016 59.5 48.7
2015 57.4 46.9
2014 56.7 46.5
2013 55 39.2
2012 56.6 38.7
2011 57.6 37.8
2010 57 36.7
2009 57.7 37.7
2008 - 39.5
2007 - 41
2006 - 40
2005 - 40.5
2004 - 43.6
2003 - 44.9
2002 - 45.5
2001 - 46.1
2000 - 47.9
1999 - 46.4
1998 - 45.7
1997 - 45.4
1996 - 45.1

Data sources: The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-03-09).

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

The Economic Freedom Index for Bhutan is 57.5, ranking 115/197, compared to 44.5 for Myanmar, ranking 180/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Bhutan Myanmar
Services, % of GDP
52.8%
2023
41.4%
2024
Industry, % of GDP
29.4%
2023
37.8%
2024
Agriculture, forestry, and fishing, % of GDP
15%
2023
20.8%
2024
GNI, Atlas method
$2.93B
2023
$65.9B
2024
GNI per capita, PPP
$15,320
2023
$5,890
2024
Total reserves including gold
$941M
2024
$9.34B
2023
Total reserves ranking
143/177
2024
81/177
2023
Net foreign direct investment
-$22.8M
2024
-$1.74B
2019
Net inflows of foreign direct investment
$2.82M
2024
$1.1B
2024
Net outflows of foreign direct investment
$0
2024
$0
2024
Servicing debt to the IMF, % of GNI
4.96%
2023
1.31%
2024
Poverty at national poverty lines
12.4%
2022
24.8%
2017
Gross capital formation, % of GDP
45.3%
2023
n/a

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/myanmar | 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 (1996–2026, 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.