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Economy of Bhutan vs Sri Lanka compared: GDP & Debt

Updated on by Georank team

Bhutan has a GDP of $3.01B compared to $99B for Sri Lanka, ranking 170/197 and 72/197 by economy size, respectively.

Bhutan has $3.53B in government debt (110.4% of GDP), compared to $99.8B (100.8% of GDP) in Sri Lanka.

Bhutan vs Sri Lanka GDP by year

Bhutan
Sri Lanka
1x
Year GDP, current $
Bhutan Sri Lanka
2024 - $98,963,185,510
2023 $3,012,896,789 $83,716,142,582
2022 $2,898,227,744 $74,143,020,263
2021 $2,768,802,960 $88,556,698,938
2020 $2,457,604,334 $84,335,574,582
2019 $2,735,683,570 $88,998,706,297
2018 $2,583,335,722 $94,450,015,983
2017 $2,591,358,009 $94,369,350,286
2016 $2,357,504,761 $88,000,211,172
2015 $2,187,815,803 $85,090,301,052
2014 $2,089,079,571 $82,531,125,191
2013 $1,943,696,952 $76,976,203,829
2012 $1,973,387,228 $70,447,217,164
2011 $1,977,728,659 $67,753,285,897
2010 $1,708,880,730 $58,636,049,434
2009 $1,331,343,798 $42,066,224,093
2008 $1,317,517,835 $40,713,826,215
2007 $1,255,767,964 $32,350,238,760
2006 $942,879,879 $28,267,410,543
2005 $860,391,000 $24,405,791,045
2004 $735,348,490 $20,662,525,941
2003 $651,935,430 $18,881,765,437
2002 $559,345,264 $16,536,535,647
2001 $496,110,226 $15,749,753,805
2000 $460,733,418 $16,595,882,819
1999 $399,311,200 $15,711,933,513
1998 $363,458,381 $15,760,736,956
1997 $352,229,077 $15,091,913,884
1996 $303,408,346 $13,897,738,375
1995 $290,490,984 $13,029,697,561
1994 $258,954,708 $11,717,604,209
1993 $225,973,693 $10,338,679,636
1992 $240,233,531 $9,703,011,636
1991 $240,294,286 $9,000,362,582
1990 $287,765,007 $8,032,551,173
1989 $264,798,626 $6,987,267,684
1988 $272,298,067 $6,978,371,581
1987 $242,742,766 $6,682,167,120
1986 $191,218,115 $6,405,210,564
1985 $163,288,815 $5,978,460,972
1984 $160,423,494 $6,043,474,843
1983 $156,704,290 $5,167,913,302
1982 $141,439,317 $4,768,765,017
1981 $139,174,178 $4,415,844,156
1980 $128,669,201 $4,024,621,900
1979 $105,377,995 $3,364,611,432
1978 $94,086,228 $2,733,183,857
1977 $97,884,434 $4,104,509,583
1976 $88,461,263 $3,591,319,857
1975 $86,820,762 $3,791,298,146
1974 $92,901,784 $3,574,586,466
1973 $78,900,289 $2,875,625,000
1972 $70,139,867 $2,553,936,348
1971 $66,289,450 $2,369,308,600
1970 $61,812,113 $2,296,470,588
1969 - $1,965,546,218
1968 - $1,801,344,538
1967 - $1,859,465,021
1966 - $1,751,470,588
1965 - $1,698,319,328
1964 - $1,309,747,899
1963 - $1,240,672,269
1962 - $1,434,156,379
1961 - $1,444,327,731
1960 - $1,409,873,950

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

GeoRank.org/economy/bhutan/sri-lanka | CC BY

GDP per capita in Bhutan vs Sri Lanka by year

Bhutan
GDP per capita

GDP per capita, PPP
Sri Lanka
GDP per capita

GDP per capita, PPP
1x
Year Current $
Bhutan Sri Lanka
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 - - $4,516 $15,633
2023 $3,831 $16,215 $3,799 $14,456
2022 $3,711 $15,064 $3,343 $14,194
2021 $3,571 $13,459 $3,997 $14,316
2020 $3,192 $12,475 $3,848 $12,941
2019 $3,577 $12,909 $4,082 $14,113
2018 $3,400 $11,970 $4,359 $14,178
2017 $3,435 $11,677 $4,399 $13,610
2016 $3,152 $11,273 $4,149 $13,079
2015 $2,954 $10,214 $4,058 $12,227
2014 $2,849 $9,323 $3,972 $11,721
2013 $2,680 $8,667 $3,739 $11,253
2012 $2,751 $8,577 $3,328 $10,249
2011 $2,788 $7,935 $3,225 $9,076
2010 $2,436 $7,246 $2,808 $8,234
2009 $1,918 $6,466 $2,027 $7,576
2008 $1,920 $6,035 $1,974 $7,317
2007 $1,850 $5,729 $1,579 $6,820
2006 $1,406 $4,860 $1,389 $6,261
2005 $1,300 $4,523 $1,207 $5,679
2004 $1,130 $4,173 $1,029 $5,216
2003 $1,022 $3,942 $946 $4,850
2002 $896 $3,663 $835 $4,522
2001 $812 $3,338 $804 $4,328
2000 $772 $3,113 $860 $4,368
1999 $685 $3,017 $829 $4,103
1998 $638 $2,819 $848 $3,952
1997 $630 $2,683 $827 $3,804
1996 $553 $2,548 $776 $3,582
1995 $530 $2,374 $742 $3,454
1994 $467 $2,146 $678 $3,260
1993 $407 $2,001 $607 $3,067
1992 $416 $1,840 $580 $2,851
1991 $401 $1,657 $546 $2,713
1990 $488 $1,638 $491 $2,527
1989 $462 - $430 -
1988 $489 - $434 -
1987 $449 - $420 -
1986 $365 - $407 -
1985 $321 - $385 -
1984 $326 - $391 -
1983 $328 - $336 -
1982 $306 - $312 -
1981 $311 - $292.5 -
1980 $296.9 - $271.1 -
1979 $251.4 - $230.8 -
1978 $232.2 - $191 -
1977 $249.9 - $292.1 -
1976 $233.7 - $260.3 -
1975 $237.4 - $279.8 -
1974 $262.8 - $268.7 -
1973 $230.9 - $220.2 -
1972 $212.4 - $199.4 -
1971 $207.7 - $188.8 -
1970 $200.3 - $186.9 -
1969 - - $163.6 -
1968 - - $153.5 -
1967 - - $162.3 -
1966 - - $156.6 -
1965 - - $155.6 -
1964 - - $122.9 -
1963 - - $119.4 -
1962 - - $141.4 -
1961 - - $145.9 -
1960 - - $145.9 -

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

GeoRank.org/economy/bhutan/sri-lanka | CC BY

Bhutan's GDP per capita is $3,831, ranking 132/197, compared to $4,516 in Sri Lanka, ranking 124/197. Adjusted for purchasing power (GDP per capita PPP), Bhutan ranks 109th at $16,215, while Sri Lanka ranks 111th at $15,633.

Economic indicators

Bhutan Sri Lanka
Gross domestic product
$3.01B
2023
$99B
2024
GDP rank
170/197
2023
72/197
2024
GDP growth
4.63%
2022-2023
5.01%
2023-2024
GDP per capita
$3,831
2023
$4,516
2024
GDP per capita rank
132/197
2023
124/197
2024
GDP per capita, PPP
$16,215
2023
$15,633
2024
GDP per capita PPP rank
109/197
2023
111/197
2024
Government debt
$3.53B
2023
$99.8B
2024
Debt-to-GDP ratio
110.4%
2024
100.8%
2024
Government debt per person
$4,485
2023
$4,554
2024
Government debt per person rank
87/185
2023
85/185
2024
Average annual personal income after taxes
$5,506
2026
$2,874
2026
Market capitalization of domestic companies n/a
$19.5B
2024
Income share by richest 10%
22.7%
2022
30.8%
2019
Income share by poorest 10%
3.6%
2022
3.1%
2019
Government expenditure, % of GDP
27.1%
2024
19.3%
2024
Consumer prices inflation
4.3%
2023-2024
-0.43%
2023-2024
Central bank interest rate n/a
7.75%
2025
Unemployment rate
3.28%
2024
4.67%
2023
Population
803385
22185425

Spending and national debt comparison by year

Bhutan
Spending

Debt
Sri Lanka
Spending

Debt
1x
Year % of GDP
Bhutan Sri Lanka
Government spending Government debt Government spending Government debt
2024 27.1% 110.4% 19.3% 100.8%
2023 28.8% 117.1% 19.5% 110.4%
2022 32.1% 119.9% 18.6% 115.9%
2021 36.6% 124.5% 20% 102.7%
2020 30.9% 116% 22.1% 96.9%
2019 24.2% 100.8% 19.5% 82.6%
2018 31.7% 103.4% 17.5% 83.6%
2017 30.6% 104.1% 17.9% 72.3%
2016 30.5% 103% 18.2% 75%
2015 27.5% 90.2% 19.3% 76.3%
2014 28.9% 89.8% 17.2% 69.6%
2013 32.5% 87.4% 16.6% 69.5%
2012 35.1% 71.5% 17.3% 67.5%
2011 36.1% 62.3% 19.1% 69.4%
2010 41.5% 55.8% 19.3% 68.7%
2009 39.3% 61% 21% 72.8%
2008 36.1% 60.6% 19.1% 68.8%
2007 33.2% 67.3% 19.9% 71.8%
2006 33.4% 80.1% 20.5% 74.3%
2005 36.4% 80.8% 20.1% 76.6%
2004 31% 76% 19.3% 86.5%
2003 34.7% 68.5% 19.3% 86.5%
2002 39.3% 57.7% 20.8% 96.3%
2001 50.3% 52.4% 22.4% 84.4%
2000 43% 44% 21.7% 79.2%
1999 40.2% 39.2% 20.5% 77.7%
1998 31.1% 36.4% 21.4% 74.2%
1997 37.8% 33% 21.4% 70.1%
1996 37.9% 36.8% 23.1% 76.2%
1995 38.6% 38.7% 24.8% 77.8%
1994 37.9% 53.2% 24.1% 77.9%
1993 35.2% 60.2% 23.2% 79.2%
1992 34.5% 35.6% 23% 77.9%
1991 30.8% 33.5% 26.4% 80.5%
1990 35.8% 27.4% 25.4% 78.9%
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/sri-lanka | CC BY

In 2024, Bhutan's government spending was $869M, accounting for 27.1% of its GDP, while Sri Lanka spent $19.1B, or 19.3% of GDP.

Debt-to-GDP ratio is 110.4% in Bhutan and 100.8% in Sri Lanka, ranking 17/185 and 23/185, respectively.

Government deficit by year

Deficit/surplus
Bhutan

Sri Lanka
1x
Year Deficit/surplus, % of GDP
Bhutan Sri Lanka
2024 -0.17% -5.64%
2023 -4.73% -8.32%
2022 -6.95% -10.2%
2021 -5.76% -11.7%
2020 -1.81% -13.4%
2019 -1.49% -7.52%
2018 -1.52% -4.96%
2017 -4.49% -5.1%
2016 -2.31% -5%
2015 -0.49% -6.64%
2014 2.46% -5.99%
2013 -4.55% -5%
2012 -2.1% -5.44%
2011 -3.02% -6.01%
2010 1.92% -6.73%
2009 -0.8% -8.33%
2008 -2.57% -5.93%
2007 0.79% -5.81%
2006 -0.07% -5.91%
2005 -6.96% -5.93%
2004 1.8% -6.32%
2003 -10.2% -6.15%
2002 -4.33% -6.9%
2001 -12.2% -8.48%
2000 -3.39% -7.78%
1999 -1.28% -5.58%
1998 1.28% -6.79%
1997 -1.92% -5.71%
1996 2.55% -6.89%
1995 -0.88% -7.11%
1994 -0.13% -7.41%
1993 4.71% -5.77%
1992 -3.47% -4.95%
1991 -0.48% -7.97%
1990 -7.21% -6.39%
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/sri-lanka | 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 Sri Lanka's deficit of $6.97B, or 8.32% of GDP.

Over the past 34 years, Bhutan recorded a fiscal deficit in 27 of those years, while Sri Lanka ran a deficit in 34 years. On average, Bhutan posted an annual deficit equal to 2.34% of GDP, compared to deficit of 6.89% of GDP for Sri Lanka.

Inflation comparison by year

Inflation
Bhutan

Sri Lanka
1x
Year Consumer prices inflation
Bhutan Sri Lanka
2024 4.3% -0.43%
2023 4.5% 16.5%
2022 5.9% 49.7%
2021 8.2% 7.01%
2020 3% 6.15%
2019 2.8% 3.53%
2018 3.6% 2.14%
2017 4.3% 7.7%
2016 3.3% 3.96%
2015 6.7% 3.77%
2014 9.6% 3.18%
2013 8.1% 6.91%
2012 10.1% 7.54%
2011 8.6% 6.72%
2010 4.8% 6.22%
2009 7.1% 3.46%
2008 6.3% 22.6%
2007 5.2% 15.8%
2006 4.9% 10%
2005 4.8% 11.6%
2004 3.3% 7.58%
2003 2.5% 6.31%
2002 2.9% 9.55%
2001 3.7% 14.2%
2000 7.2% 6.18%
1999 9.1% 4.69%
1998 7.6% 9.36%
1997 8.6% 9.57%

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/sri-lanka | CC BY

Over the past 28 years, Bhutan has recorded an average annual inflation rate of 5.75%, compared with 9.34% in Sri Lanka. In 2024, inflation was 4.3% in Bhutan and -0.43% in Sri Lanka.

Top exports between countries

Bhutan
Export category Export value
Sri Lanka
Export category Export value
Wood & paper products $834K
Textiles & consumer goods $20K
Chemicals & pharma $7K
Machinery & equipment $5K
Miscellaneous $5K

Balance of trade

Bhutan Sri Lanka
Current account balance
-$670M
2024
$1.21B
2024
Current account balance ranking
114/190
2024
53/190
2024
Current account balance, % of GDP
-32%
2023
+1.22%
2024
Goods imports
$1.29B
2024
$18.8B
2024
Goods exports
$656M
2024
$12.8B
2024
Service imports
$228M
2024
$3.48B
2024
Service exports
$288M
2024
$6.91B
2024
Imports of goods and services, % of GDP
53.3%
2023
22.5%
2024
Exports of goods and services, % of GDP
28.4%
2023
19.9%
2024

Economic freedom indices

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

Bhutan Sri Lanka
Economic freedom 57.5 50.3
Economic freedom ranking 115/197 162/197
Property rights 69.2 47.3
Government integrity 72.2 37.3
Judicial effectiveness 61.8 47.2
Tax burden 83.4 77
Government spending 74.1 89
Fiscal health 25.8 0
Business freedom 67.8 60.1
Labor freedom 60.1 54.3
Monetary freedom 71.6 65.9
Trade freedom 63.4 65.6
Investment freedom 20 30
Financial freedom 20 30

Economic freedom comparison by year

Bhutan
Sri Lanka
1x
Year Economic freedom index
Bhutan Sri Lanka
2026 57.5 50.3
2025 57.5 49.4
2024 55.4 49.2
2023 59 52.2
2022 59.3 53.3
2021 58.3 55.7
2020 62.1 57.4
2019 62.9 56.4
2018 61.8 57.8
2017 58.4 57.4
2016 59.5 59.9
2015 57.4 58.6
2014 56.7 60
2013 55 60.7
2012 56.6 58.3
2011 57.6 57.1
2010 57 54.6
2009 57.7 56
2008 - 58.4
2007 - 59.4
2006 - 58.7
2005 - 61
2004 - 61.6
2003 - 62.5
2002 - 64
2001 - 66
2000 - 63.2
1999 - 64
1998 - 64.6
1997 - 65.5
1996 - 62.5
1995 - 60.6

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

GeoRank.org/economy/bhutan/sri-lanka | CC BY

The Economic Freedom Index for Bhutan is 57.5, ranking 115/197, compared to 50.3 for Sri Lanka, ranking 162/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Bhutan Sri Lanka
Services, % of GDP
52.8%
2023
57.5%
2024
Industry, % of GDP
29.4%
2023
25.5%
2024
Agriculture, forestry, and fishing, % of GDP
15%
2023
8.3%
2024
GNI, Atlas method
$2.93B
2023
$84.6B
2024
GNI per capita, PPP
$15,320
2023
$15,240
2024
Total reserves including gold
$941M
2024
$6.09B
2024
Total reserves ranking
143/177
2024
92/177
2024
Net foreign direct investment
-$22.8M
2024
-$651M
2024
Net inflows of foreign direct investment
$2.82M
2024
$761M
2024
Net outflows of foreign direct investment
$0
2024
$110M
2024
Servicing debt to the IMF, % of GNI
4.96%
2023
4.98%
2024
Poverty at national poverty lines
12.4%
2022
14.3%
2019
Gross capital formation, % of GDP
45.3%
2023
27%
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/sri-lanka | 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. TradeMap (2021–2023, 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.