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Economy of Bhutan vs Poland compared: GDP & Debt

Updated on by Georank team

Bhutan has a GDP of $3.01B compared to $918B for Poland, ranking 170/197 and 21/197 by economy size, respectively.

Bhutan has $3.53B in government debt (110.4% of GDP), compared to $507B (55.3% of GDP) in Poland.

Bhutan vs Poland GDP by year

Bhutan
Poland
1x
Year GDP, current $
Bhutan Poland
2024 - $917,767,106,147
2023 $3,012,896,789 $812,451,193,396
2022 $2,898,227,744 $695,607,470,875
2021 $2,768,802,960 $689,170,230,665
2020 $2,457,604,334 $605,914,237,904
2019 $2,735,683,570 $602,683,770,145
2018 $2,583,335,722 $594,616,687,350
2017 $2,591,358,009 $528,356,676,667
2016 $2,357,504,761 $473,259,583,970
2015 $2,187,815,803 $480,054,118,583
2014 $2,089,079,571 $542,134,167,179
2013 $1,943,696,952 $518,179,836,405
2012 $1,973,387,228 $498,148,649,703
2011 $1,977,728,659 $527,848,543,023
2010 $1,708,880,730 $478,111,630,684
2009 $1,331,343,798 $440,891,472,247
2008 $1,317,517,835 $535,612,030,672
2007 $1,255,767,964 $429,715,132,138
2006 $942,879,879 $345,897,630,736
2005 $860,391,000 $306,999,913,151
2004 $735,348,490 $256,268,656,145
2003 $651,935,430 $218,561,225,998
2002 $559,345,264 $199,694,463,256
2001 $496,110,226 $191,823,200,371
2000 $460,733,418 $172,953,527,033
1999 $399,311,200 $170,704,452,715
1998 $363,458,381 $175,282,269,667
1997 $352,229,077 $159,893,964,917
1996 $303,408,346 $160,813,026,223
1995 $290,490,984 $142,838,527,115
1994 $258,954,708 $110,803,635,288
1993 $225,973,693 $96,043,157,273
1992 $240,233,531 $94,337,050,693
1991 $240,294,286 $85,500,935,935
1990 $287,765,007 $65,977,748,211
1989 $264,798,626 -
1988 $272,298,067 -
1987 $242,742,766 -
1986 $191,218,115 -
1985 $163,288,815 -
1984 $160,423,494 -
1983 $156,704,290 -
1982 $141,439,317 -
1981 $139,174,178 -
1980 $128,669,201 -
1979 $105,377,995 -
1978 $94,086,228 -
1977 $97,884,434 -
1976 $88,461,263 -
1975 $86,820,762 -
1974 $92,901,784 -
1973 $78,900,289 -
1972 $70,139,867 -
1971 $66,289,450 -
1970 $61,812,113 -

Data sources: World Bank | Economy & Growth (1970–2024, retrieved 2026-04-06).

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

GDP per capita in Bhutan vs Poland by year

Bhutan
GDP per capita

GDP per capita, PPP
Poland
GDP per capita

GDP per capita, PPP
1x
Year Current $
Bhutan Poland
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 - - $25,104 $51,263
2023 $3,831 $16,215 $22,145 $48,473
2022 $3,711 $15,064 $18,891 $46,778
2021 $3,571 $13,459 $18,636 $41,060
2020 $3,192 $12,475 $16,151 $37,089
2019 $3,577 $12,909 $15,875 $35,882
2018 $3,400 $11,970 $15,658 $32,345
2017 $3,435 $11,677 $13,913 $30,170
2016 $3,152 $11,273 $12,464 $28,360
2015 $2,954 $10,214 $12,638 $26,988
2014 $2,849 $9,323 $14,262 $25,460
2013 $2,680 $8,667 $13,622 $24,434
2012 $2,751 $8,577 $13,087 $23,728
2011 $2,788 $7,935 $13,868 $22,809
2010 $2,436 $7,246 $12,568 $20,991
2009 $1,918 $6,466 $11,556 $19,300
2008 $1,920 $6,035 $14,049 $18,372
2007 $1,850 $5,729 $11,273 $16,833
2006 $1,406 $4,860 $9,069 $15,205
2005 $1,300 $4,523 $8,044 $13,936
2004 $1,130 $4,173 $6,712 $13,413
2003 $1,022 $3,942 $5,721 $12,329
2002 $896 $3,663 $5,223 $11,841
2001 $812 $3,338 $5,015 $11,175
2000 $772 $3,113 $4,521 $10,721
1999 $685 $3,017 $4,416 $10,081
1998 $638 $2,819 $4,534 $9,521
1997 $630 $2,683 $4,137 $8,967
1996 $553 $2,548 $4,164 $8,310
1995 $530 $2,374 $3,701 $7,715
1994 $467 $2,146 $2,875 $7,040
1993 $407 $2,001 $2,497 $6,560
1992 $416 $1,840 $2,459 $6,193
1991 $401 $1,657 $2,236 $5,925
1990 $488 $1,638 $1,731 $6,185
1989 $462 - - -
1988 $489 - - -
1987 $449 - - -
1986 $365 - - -
1985 $321 - - -
1984 $326 - - -
1983 $328 - - -
1982 $306 - - -
1981 $311 - - -
1980 $296.9 - - -
1979 $251.4 - - -
1978 $232.2 - - -
1977 $249.9 - - -
1976 $233.7 - - -
1975 $237.4 - - -
1974 $262.8 - - -
1973 $230.9 - - -
1972 $212.4 - - -
1971 $207.7 - - -
1970 $200.3 - - -

Data sources: World Bank | Economy & Growth (1970–2024, retrieved 2026-04-06).

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

Bhutan's GDP per capita is $3,831, ranking 132/197, compared to $25,104 in Poland, ranking 48/197. Adjusted for purchasing power (GDP per capita PPP), Bhutan ranks 109th at $16,215, while Poland ranks 43rd at $51,263.

Economic indicators

Bhutan Poland
Gross domestic product
$3.01B
2023
$918B
2024
GDP rank
170/197
2023
21/197
2024
GDP growth
4.63%
2022-2023
3.03%
2023-2024
GDP per capita
$3,831
2023
$25,104
2024
GDP per capita rank
132/197
2023
48/197
2024
GDP per capita, PPP
$16,215
2023
$51,263
2024
GDP per capita PPP rank
109/197
2023
43/197
2024
Government debt
$3.53B
2023
$507B
2024
Debt-to-GDP ratio
110.4%
2024
55.3%
2024
Government debt per person
$4,485
2023
$13,874
2024
Government debt per person rank
87/185
2023
41/185
2024
Average annual personal income after taxes
$5,506
2026
$20,736
2026
Market capitalization of domestic companies n/a
$197B
2024
Number of billionaires n/a
10
2025
Income share by richest 10%
22.7%
2022
22.9%
2023
Income share by poorest 10%
3.6%
2022
3.3%
2023
Government expenditure, % of GDP
27.1%
2024
49.4%
2024
Consumer prices inflation
4.3%
2023-2024
3.78%
2023-2024
Central bank interest rate n/a
4%
2025
Unemployment rate
3.28%
2024
2.81%
2024
Population
803385
35806942

Spending and national debt comparison by year

Bhutan
Spending

Debt
Poland
Spending

Debt
1x
Year % of GDP
Bhutan Poland
Government spending Government debt Government spending Government debt
2024 27.1% 110.4% 49.4% 55.3%
2023 28.8% 117.1% 46.9% 49.5%
2022 32.1% 119.9% 43.2% 48.8%
2021 36.6% 124.5% 43.6% 53%
2020 30.9% 116% 47.7% 56.6%
2019 24.2% 100.8% 41.4% 45.2%
2018 31.7% 103.4% 41% 48.2%
2017 30.6% 104.1% 41.1% 50.4%
2016 30.5% 103% 41.1% 54.1%
2015 27.5% 90.2% 41.5% 51.1%
2014 28.9% 89.8% 42.7% 51.1%
2013 32.5% 87.4% 43.2% 56.9%
2012 35.1% 71.5% 43.2% 54.5%
2011 36.1% 62.3% 44.1% 54.8%
2010 41.5% 55.8% 46% 53.7%
2009 39.3% 61% 44.9% 49.7%
2008 36.1% 60.6% 44% 46.6%
2007 33.2% 67.3% 42.8% 44.4%
2006 33.4% 80.1% 44.3% 47.1%
2005 36.4% 80.8% 44.1% 46.5%
2004 31% 76% 43.3% 44.9%
2003 34.7% 68.5% 45.5% 46.4%
2002 39.3% 57.7% 45.1% 41.6%
2001 50.3% 52.4% 44.7% 37.2%
2000 43% 44% 43.1% 36.4%
1999 40.2% 39.2% 42.5% 39.4%
1998 31.1% 36.4% 44% 38.7%
1997 37.8% 33% 46.1% 42.7%
1996 37.9% 36.8% 50.7% 43.2%
1995 38.6% 38.7% 47.5% 48.7%
1994 37.9% 53.2% - 64.3%
1993 35.2% 60.2% - 83.9%
1992 34.5% 35.6% - 81.9%
1991 30.8% 33.5% - 76.9%
1990 35.8% 27.4% - 89.7%
1989 46.8% 26.4% - -
1988 45.3% 24.7% - -
1987 47.5% 17.3% - -
1986 - - - -
1985 - - - -
1984 - - - -
1983 - - - -
1982 - - - -
1981 - - - -
1980 - - - -
1979 - - 35.6% -
1978 - - 35.8% -
1977 - - 35.6% -
1976 - - 34.8% -
1975 - - 34.1% -
1974 - - 28.6% -
1973 - - 24.5% -
1972 - - 24.1% -
1971 - - 24.1% -
1970 - - 25.8% -
1969 - - 26.3% -
1968 - - 27.3% -
1967 - - 29.6% -
1966 - - 31.7% -
1965 - - 31.8% -
1964 - - 33.5% -
1963 - - 33.3% -
1962 - - 43% -
1961 - - 42.8% -
1960 - - 39.2% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1994, retrieved 2026-02-20).

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

In 2024, Bhutan's government spending was $869M, accounting for 27.1% of its GDP, while Poland spent $453B, or 49.4% of GDP.

Debt-to-GDP ratio is 110.4% in Bhutan and 55.3% in Poland, ranking 17/185 and 95/185, respectively.

Government deficit by year

Deficit/surplus
Bhutan

Poland
1x
Year Deficit/surplus, % of GDP
Bhutan Poland
2024 -0.17% -6.59%
2023 -4.73% -5.27%
2022 -6.95% -3.44%
2021 -5.76% -1.75%
2020 -1.81% -6.85%
2019 -1.49% -0.73%
2018 -1.52% -0.24%
2017 -4.49% -1.49%
2016 -2.31% -2.38%
2015 -0.49% -2.59%
2014 2.46% -3.66%
2013 -4.55% -4.25%
2012 -2.1% -3.8%
2011 -3.02% -4.97%
2010 1.92% -7.43%
2009 -0.8% -7.24%
2008 -2.57% -3.6%
2007 0.79% -1.88%
2006 -0.07% -3.53%
2005 -6.96% -3.93%
2004 1.8% -4.99%
2003 -10.2% -6.02%
2002 -4.33% -4.8%
2001 -12.2% -4.73%
2000 -3.39% -4%
1999 -1.28% -2.3%
1998 1.28% -4.25%
1997 -1.92% -4.61%
1996 2.55% -4.84%
1995 -0.88% -4.39%
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/poland | 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 Poland's deficit of $42.8B, or 5.27% of GDP.

Over the past 29 years, Bhutan recorded a fiscal deficit in 23 of those years, while Poland ran a deficit in 29 years. On average, Bhutan posted an annual deficit equal to 2.52% of GDP, compared to deficit of 3.93% of GDP for Poland.

Inflation comparison by year

Inflation
Bhutan

Poland
1x
Year Consumer prices inflation
Bhutan Poland
2024 4.3% 3.78%
2023 4.5% 11.5%
2022 5.9% 14.4%
2021 8.2% 5.06%
2020 3% 3.37%
2019 2.8% 2.23%
2018 3.6% 1.81%
2017 4.3% 2.08%
2016 3.3% -0.66%
2015 6.7% -0.87%
2014 9.6% 0.05%
2013 8.1% 0.99%
2012 10.1% 3.56%
2011 8.6% 4.24%
2010 4.8% 2.58%
2009 7.1% 3.8%
2008 6.3% 4.16%
2007 5.2% 2.46%
2006 4.9% 1.28%
2005 4.8% 2.18%
2004 3.3% 3.38%
2003 2.5% 0.68%
2002 2.9% 1.91%
2001 3.7% 5.41%
2000 7.2% 9.9%
1999 9.1% 7.15%
1998 7.6% 11.6%
1997 8.6% 14.9%

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/poland | CC BY

Over the past 28 years, Bhutan has recorded an average annual inflation rate of 5.75%, compared with 4.39% in Poland. In 2024, inflation was 4.3% in Bhutan and 3.78% in Poland.

Top exports between countries

Bhutan
Export category Export value
Metals $253K
Poland
Export category Export value
Chemicals & pharma $5.28M
Textiles & consumer goods $61K
Machinery & equipment $52K
Raw materials & minerals $12K
Metals $1K

Balance of trade

Bhutan Poland
Current account balance
-$670M
2024
$2.8B
2024
Current account balance ranking
114/190
2024
40/190
2024
Current account balance, % of GDP
-32%
2023
+0.3%
2024
Goods imports
$1.29B
2024
$367B
2024
Goods exports
$656M
2024
$361B
2024
Service imports
$228M
2024
$74.9B
2024
Service exports
$288M
2024
$118B
2024
Imports of goods and services, % of GDP
53.3%
2023
48.2%
2024
Exports of goods and services, % of GDP
28.4%
2023
52.2%
2024

Economic freedom indices

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

Bhutan Poland
Economic freedom 57.5 68.5
Economic freedom ranking 115/197 46/197
Property rights 69.2 71.8
Government integrity 72.2 60.7
Judicial effectiveness 61.8 62.5
Tax burden 83.4 72.7
Government spending 74.1 35.1
Fiscal health 25.8 74.8
Business freedom 67.8 77.5
Labor freedom 60.1 53.7
Monetary freedom 71.6 73.8
Trade freedom 63.4 79.4
Investment freedom 20 80
Financial freedom 20 80

Economic freedom comparison by year

Bhutan
Poland
1x
Year Economic freedom index
Bhutan Poland
2026 57.5 68.5
2025 57.5 67.1
2024 55.4 66
2023 59 67.7
2022 59.3 68.7
2021 58.3 69.7
2020 62.1 69.1
2019 62.9 67.8
2018 61.8 68.5
2017 58.4 68.3
2016 59.5 69.3
2015 57.4 68.6
2014 56.7 67
2013 55 66
2012 56.6 64.2
2011 57.6 64.1
2010 57 63.2
2009 57.7 60.3
2008 - 60.3
2007 - 58.1
2006 - 59.3
2005 - 59.6
2004 - 58.7
2003 - 61.8
2002 - 65
2001 - 61.8
2000 - 60
1999 - 59.6
1998 - 59.2
1997 - 56.8
1996 - 57.8
1995 - 50.7

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

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

The Economic Freedom Index for Bhutan is 57.5, ranking 115/197, compared to 68.5 for Poland, ranking 46/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Bhutan Poland
Services, % of GDP
52.8%
2023
59.1%
2024
Industry, % of GDP
29.4%
2023
27.2%
2024
Agriculture, forestry, and fishing, % of GDP
15%
2023
2.54%
2024
GNI, Atlas method
$2.93B
2023
$789B
2024
GNI per capita, PPP
$15,320
2023
$49,540
2024
Total reserves including gold
$941M
2024
$223B
2024
Total reserves ranking
143/177
2024
17/177
2024
Net foreign direct investment
-$22.8M
2024
-$10.6B
2024
Net inflows of foreign direct investment
$2.82M
2024
$20.6B
2024
Net outflows of foreign direct investment
$0
2024
$10B
2024
Servicing debt to the IMF, % of GNI
4.96%
2023
n/a
Poverty at national poverty lines
12.4%
2022
13.3%
2024
Gross capital formation, % of GDP
45.3%
2023
17.8%
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/poland | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1970–2024, 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. International Monetary Fund (IMF) | Public Finances in Modern History (1960–1994, retrieved 2026-02-20)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. TradeMap (2022–2024, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. 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.