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Economy of Bhutan vs Sierra Leone compared: GDP & Debt

Updated on by Georank team

Bhutan has a GDP of $3.01B compared to $6.97B for Sierra Leone, ranking 170/197 and 160/197 by economy size, respectively.

Bhutan has $3.53B in government debt (110.4% of GDP), compared to $2.91B (41.7% of GDP) in Sierra Leone.

Bhutan vs Sierra Leone GDP by year

Bhutan
Sierra Leone
1x
Year GDP, current $
Bhutan Sierra Leone
2024 - $6,971,127,235
2023 $3,012,896,789 $6,415,852,767
2022 $2,898,227,744 $7,121,125,278
2021 $2,768,802,960 $7,166,931,485
2020 $2,457,604,334 $6,688,307,703
2019 $2,735,683,570 $6,523,577,594
2018 $2,583,335,722 $6,390,514,689
2017 $2,591,358,009 $5,749,846,528
2016 $2,357,504,761 $6,084,297,211
2015 $2,187,815,803 $6,788,352,975
2014 $2,089,079,571 $7,686,138,791
2013 $1,943,696,952 $7,502,762,863
2012 $1,973,387,228 $6,141,666,509
2011 $1,977,728,659 $4,861,632,885
2010 $1,708,880,730 $4,262,805,967
2009 $1,331,343,798 $3,953,403,098
2008 $1,317,517,835 $4,157,895,298
2007 $1,255,767,964 $3,632,957,611
2006 $942,879,879 $3,263,697,467
2005 $860,391,000 $2,545,275,313
2004 $735,348,490 $2,237,350,687
2003 $651,935,430 $2,142,618,046
2002 $559,345,264 $1,933,863,911
2001 $496,110,226 $1,681,473,894
2000 $460,733,418 $635,866,404
1999 $399,311,200 $669,386,624
1998 $363,458,381 $672,368,187
1997 $352,229,077 $850,232,760
1996 $303,408,346 $941,709,423
1995 $290,490,984 $870,740,292
1994 $258,954,708 $911,853,802
1993 $225,973,693 $768,867,883
1992 $240,233,531 $679,940,814
1991 $240,294,286 $779,981,987
1990 $287,765,007 $649,644,098
1989 $264,798,626 $932,974,420
1988 $272,298,067 $1,055,083,933
1987 $242,742,766 $660,106,336
1986 $191,218,115 $490,181,457
1985 $163,288,815 $856,890,459
1984 $160,423,494 $1,087,471,862
1983 $156,704,290 $995,104,305
1982 $141,439,317 $1,295,361,886
1981 $139,174,178 $1,114,830,472
1980 $128,669,201 $1,100,685,845
1979 $105,377,995 $1,109,374,911
1978 $94,086,228 $960,728,339
1977 $97,884,434 $691,777,584
1976 $88,461,263 $594,895,942
1975 $86,820,762 $679,336,344
1974 $92,901,784 $648,590,643
1973 $78,900,289 $575,230,724
1972 $70,139,867 $465,381,340
1971 $66,289,450 $419,549,305
1970 $61,812,113 $434,410,974
1969 - $408,690,163
1968 - $329,859,732
1967 - $348,795,303
1966 - $375,479,850
1965 - $359,379,856
1964 - $371,847,461
1963 - $348,547,279
1962 - $342,721,416
1961 - $327,834,191
1960 - $322,009,962

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

GeoRank.org/economy/bhutan/sierra-leone | CC BY

GDP per capita in Bhutan vs Sierra Leone by year

Bhutan
GDP per capita

GDP per capita, PPP
Sierra Leone
GDP per capita

GDP per capita, PPP
1x
Year Current $
Bhutan Sierra Leone
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 - - $807 $3,522
2023 $3,831 $16,215 $758 $3,368
2022 $3,711 $15,064 $860 $3,144
2021 $3,571 $13,459 $885 $2,849
2020 $3,192 $12,475 $845 $2,719
2019 $3,577 $12,909 $844 $2,704
2018 $3,400 $11,970 $846 $2,640
2017 $3,435 $11,677 $779 $2,501
2016 $3,152 $11,273 $844 $2,635
2015 $2,954 $10,214 $965 $2,560
2014 $2,849 $9,323 $1,118 $2,762
2013 $2,680 $8,667 $1,117 $2,701
2012 $2,751 $8,577 $938 $2,317
2011 $2,788 $7,935 $761 $2,043
2010 $2,436 $7,246 $685 $1,900
2009 $1,918 $6,466 $653 $1,814
2008 $1,920 $6,035 $705 $1,824
2007 $1,850 $5,729 $632 $1,770
2006 $1,406 $4,860 $580 $1,698
2005 $1,300 $4,523 $463 $1,615
2004 $1,130 $4,173 $418 $1,541
2003 $1,022 $3,942 $414 $1,458
2002 $896 $3,663 $389 $1,360
2001 $812 $3,338 $358 $1,121
2000 $772 $3,113 $143.7 $1,242
1999 $685 $3,017 $155 $1,167
1998 $638 $2,819 $156.5 $1,180
1997 $630 $2,683 $199.9 $1,157
1996 $553 $2,548 $224.3 $1,225
1995 $530 $2,374 $208.4 $1,187
1994 $467 $2,146 $218.5 $1,266
1993 $407 $2,001 $185 $1,269
1992 $416 $1,840 $163.2 $1,220
1991 $401 $1,657 $183.7 $1,445
1990 $488 $1,638 $154.8 $1,382
1989 $462 - $231.3 -
1988 $489 - $268.2 -
1987 $449 - $172.4 -
1986 $365 - $131.5 -
1985 $321 - $235.5 -
1984 $326 - $306 -
1983 $328 - $285.8 -
1982 $306 - $380 -
1981 $311 - $334 -
1980 $296.9 - $336 -
1979 $251.4 - $346 -
1978 $232.2 - $305 -
1977 $249.9 - $224.2 -
1976 $233.7 - $196.4 -
1975 $237.4 - $228.4 -
1974 $262.8 - $222.1 -
1973 $230.9 - $200.6 -
1972 $212.4 - $165.4 -
1971 $207.7 - $151.8 -
1970 $200.3 - $160.2 -
1969 - - $153.6 -
1968 - - $126.3 -
1967 - - $136.1 -
1966 - - $149.3 -
1965 - - $145.6 -
1964 - - $153.4 -
1963 - - $146.3 -
1962 - - $146.3 -
1961 - - $142.3 -
1960 - - $142 -

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

GeoRank.org/economy/bhutan/sierra-leone | CC BY

Bhutan's GDP per capita is $3,831, ranking 132/197, compared to $807 in Sierra Leone, ranking 186/197. Adjusted for purchasing power (GDP per capita PPP), Bhutan ranks 109th at $16,215, while Sierra Leone ranks 171st at $3,522.

Economic indicators

Bhutan Sierra Leone
Gross domestic product
$3.01B
2023
$6.97B
2024
GDP rank
170/197
2023
160/197
2024
GDP growth
4.63%
2022-2023
4.29%
2023-2024
GDP per capita
$3,831
2023
$807
2024
GDP per capita rank
132/197
2023
186/197
2024
GDP per capita, PPP
$16,215
2023
$3,522
2024
GDP per capita PPP rank
109/197
2023
171/197
2024
Government debt
$3.53B
2023
$2.91B
2024
Debt-to-GDP ratio
110.4%
2024
41.7%
2024
Government debt per person
$4,485
2023
$337
2024
Government debt per person rank
87/185
2023
174/185
2024
Average annual personal income after taxes
$5,506
2026
$2,915
2026
Income share by richest 10%
22.7%
2022
29.4%
2018
Income share by poorest 10%
3.6%
2022
3.4%
2018
Government expenditure, % of GDP
27.1%
2024
15.6%
2024
Consumer prices inflation
4.3%
2023-2024
28.4%
2023-2024
Central bank interest rate n/a
18.8%
2025
Unemployment rate
3.28%
2024
3.19%
2018
Population
803385
9049533

Spending and national debt comparison by year

Bhutan
Spending

Debt
Sierra Leone
Spending

Debt
1x
Year % of GDP
Bhutan Sierra Leone
Government spending Government debt Government spending Government debt
2024 27.1% 110.4% 15.6% 41.7%
2023 28.8% 117.1% 15.4% 49.5%
2022 32.1% 119.9% 16.7% 54%
2021 36.6% 124.5% 16.8% 47.1%
2020 30.9% 116% 15.6% 46.4%
2019 24.2% 100.8% 13.3% 45.3%
2018 31.7% 103.4% 13.7% 44.2%
2017 30.6% 104.1% 15% 44.2%
2016 30.5% 103% 14.9% 38.9%
2015 27.5% 90.2% 13.1% 28.4%
2014 28.9% 89.8% 13.5% 26.8%
2013 32.5% 87.4% 11.4% 22.3%
2012 35.1% 71.5% 13.5% 24.1%
2011 36.1% 62.3% 13.2% 25.8%
2010 41.5% 55.8% 12.5% 28.9%
2009 39.3% 61% 11.3% 31.1%
2008 36.1% 60.6% 10.3% 46.1%
2007 33.2% 67.3% 8.1% 26.4%
2006 33.4% 80.1% 9.97% 61.9%
2005 36.4% 80.8% 10.9% 78.9%
2004 31% 76% 11.1% 93.2%
2003 34.7% 68.5% 11.7% 99.8%
2002 39.3% 57.7% 12.6% 99.8%
2001 50.3% 52.4% 12% 113.5%
2000 43% 44% 10.3% -
1999 40.2% 39.2% - -
1998 31.1% 36.4% - -
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/sierra-leone | CC BY

In 2024, Bhutan's government spending was $869M, accounting for 27.1% of its GDP, while Sierra Leone spent $1.09B, or 15.6% of GDP.

Debt-to-GDP ratio is 110.4% in Bhutan and 41.7% in Sierra Leone, ranking 17/185 and 128/185, respectively.

Government deficit by year

Deficit/surplus
Bhutan

Sierra Leone
1x
Year Deficit/surplus, % of GDP
Bhutan Sierra Leone
2024 -0.17% -4.53%
2023 -4.73% -4.99%
2022 -6.95% -5.93%
2021 -5.76% -4.35%
2020 -1.81% -3.5%
2019 -1.49% -1.95%
2018 -1.52% -3.57%
2017 -4.49% -5.61%
2016 -2.31% -5.41%
2015 -0.49% -2.86%
2014 2.46% -2.77%
2013 -4.55% -1.74%
2012 -2.1% -3.41%
2011 -3.02% -2.78%
2010 1.92% -3.09%
2009 -0.8% -1.51%
2008 -2.57% -2.22%
2007 0.79% 12.6%
2006 -0.07% -0.93%
2005 -6.96% -1.17%
2004 1.8% -1.46%
2003 -10.2% -2.78%
2002 -4.33% -3.03%
2001 -12.2% -3.22%
2000 -3.39% -1.94%
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/sierra-leone | 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 Sierra Leone's deficit of $320M, or 4.99% of GDP.

Over the past 24 years, Bhutan recorded a fiscal deficit in 20 of those years, while Sierra Leone ran a deficit in 23 years. On average, Bhutan posted an annual deficit equal to 3.03% of GDP, compared to deficit of 2.4% of GDP for Sierra Leone.

Inflation comparison by year

Inflation
Bhutan

Sierra Leone
1x
Year Consumer prices inflation
Bhutan Sierra Leone
2024 4.3% 28.4%
2023 4.5% 47.7%
2022 5.9% 27.2%
2021 8.2% 11.9%
2020 3% 13.4%
2019 2.8% 14.8%
2018 3.6% 16%
2017 4.3% 18.2%
2016 3.3% 10.9%
2015 6.7% 6.7%
2014 9.6% 4.6%
2013 8.1% 5.5%
2012 10.1% 6.6%
2011 8.6% 6.8%
2010 4.8% 7.2%
2009 7.1% 7.5%
2008 6.3% 8.2%
2007 5.2% 17%
2006 4.9% 10.5%
2005 4.8% 13.7%
2004 3.3% 12.9%
2003 2.5% 4%
2002 2.9% 0.1%
2001 3.7% 2.6%
2000 7.2% -0.9%
1999 9.1% 34.1%
1998 7.6% 36%
1997 8.6% 14.6%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20).

GeoRank.org/economy/bhutan/sierra-leone | CC BY

Over the past 28 years, Bhutan has recorded an average annual inflation rate of 5.75%, compared with 13.8% in Sierra Leone. In 2024, inflation was 4.3% in Bhutan and 28.4% in Sierra Leone.

Balance of trade

Bhutan Sierra Leone
Current account balance
-$670M
2024
-$606M
2023
Current account balance ranking
114/190
2024
109/190
2023
Current account balance, % of GDP
-32%
2023
-9.45%
2023
Goods imports
$1.29B
2024
$1.92B
2023
Goods exports
$656M
2024
$1.34B
2023
Service imports
$228M
2024
$348M
2023
Service exports
$288M
2024
$42.5M
2023
Imports of goods and services, % of GDP
53.3%
2023
23.3%
2024
Exports of goods and services, % of GDP
28.4%
2023
17.3%
2024

Economic freedom indices

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

Bhutan Sierra Leone
Economic freedom 57.5 49.6
Economic freedom ranking 115/197 165/197
Property rights 69.2 32.9
Government integrity 72.2 35.8
Judicial effectiveness 61.8 42
Tax burden 83.4 88.2
Government spending 74.1 92.4
Fiscal health 25.8 54.1
Business freedom 67.8 44.8
Labor freedom 60.1 38.2
Monetary freedom 71.6 53.6
Trade freedom 63.4 63.6
Investment freedom 20 30
Financial freedom 20 20

Economic freedom comparison by year

Bhutan
Sierra Leone
1x
Year Economic freedom index
Bhutan Sierra Leone
2026 57.5 49.6
2025 57.5 48
2024 55.4 44.6
2023 59 50.2
2022 59.3 52
2021 58.3 51.7
2020 62.1 48
2019 62.9 47.5
2018 61.8 51.8
2017 58.4 52.6
2016 59.5 52.3
2015 57.4 51.7
2014 56.7 50.5
2013 55 48.3
2012 56.6 49.1
2011 57.6 49.6
2010 57 47.9
2009 57.7 47.8
2008 - 48.3
2007 - 47
2006 - 45.2
2005 - 44.8
2004 - 43.6
2003 - 42.2
2002 - -
2001 - -
2000 - 44.2
1999 - 47.2
1998 - 47.7
1997 - 45
1996 - 52.3
1995 - 49.8

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

GeoRank.org/economy/bhutan/sierra-leone | CC BY

The Economic Freedom Index for Bhutan is 57.5, ranking 115/197, compared to 49.6 for Sierra Leone, ranking 165/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Bhutan Sierra Leone
Services, % of GDP
52.8%
2023
42.6%
2024
Industry, % of GDP
29.4%
2023
25.6%
2024
Agriculture, forestry, and fishing, % of GDP
15%
2023
29.2%
2024
GNI, Atlas method
$2.93B
2023
$7.08B
2024
GNI per capita, PPP
$15,320
2023
$3,490
2024
Total reserves including gold
$941M
2024
$433M
2024
Total reserves ranking
143/177
2024
160/177
2024
Net foreign direct investment
-$22.8M
2024
-$241M
2023
Net inflows of foreign direct investment
$2.82M
2024
$122M
2024
Net outflows of foreign direct investment
$0
2024
$0
2024
Servicing debt to the IMF, % of GNI
4.96%
2023
2.22%
2024
Poverty at national poverty lines
12.4%
2022
56.8%
2018
Gross capital formation, % of GDP
45.3%
2023
20.5%
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/sierra-leone | 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.