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Economy of Bhutan vs United Arab Emirates compared: GDP & Debt

Updated on by Georank

Bhutan has a GDP of $3.58B compared to $552B for the United Arab Emirates, ranking 167/197 and 31/197 by economy size, respectively.

Bhutan has $3.71B in government debt (103.6% of GDP), compared to $193B (34.3% of GDP) in the United Arab Emirates.

Bhutan vs United Arab Emirates GDP by year

Bhutan
United Arab Emirates
1x
Year GDP, current $
Bhutan UAE
2025 $3,579,320,145 -
2024 $3,346,603,859 $552,324,919,096
2023 $3,012,896,790 $522,622,268,401
2022 $2,898,227,744 $511,403,404,642
2021 $2,768,802,960 $422,441,282,436
2020 $2,457,604,334 $357,161,776,271
2019 $2,735,683,570 $433,926,218,686
2018 $2,583,335,722 $440,560,003,161
2017 $2,591,358,009 $403,365,056,079
2016 $2,357,504,761 $381,717,208,621
2015 $2,187,815,803 $381,973,135,513
2014 $2,089,079,571 $424,935,834,104
2013 $1,943,696,952 $409,632,574,703
2012 $1,973,387,228 $392,793,559,051
2011 $1,977,728,659 $368,881,033,963
2010 $1,708,880,730 $307,736,348,527
2009 $1,331,343,798 $253,547,358,747
2008 $1,317,517,835 $315,474,615,741
2007 $1,255,767,964 $257,916,148,767
2006 $942,879,879 $222,116,532,963
2005 $860,391,000 $180,617,467,954
2004 $735,348,490 $147,824,249,958
2003 $651,935,430 $124,346,476,180
2002 $559,345,264 $109,816,091,079
2001 $496,110,226 $103,311,631,797
2000 $460,733,418 $104,337,463,730
1999 $399,311,200 $84,445,399,335
1998 $363,458,381 $75,674,384,205
1997 $352,229,077 $78,838,886,862
1996 $303,408,346 $73,571,217,377
1995 $290,490,984 $65,743,604,966
1994 $258,954,708 $59,305,111,228
1993 $225,973,693 $55,625,269,485
1992 $240,233,531 $54,239,188,746
1991 $240,294,286 $51,552,058,250
1990 $287,765,007 $50,701,374,187
1989 $264,798,626 $41,464,966,302
1988 $272,298,067 $36,275,613,877
1987 $242,742,766 $36,384,802,310
1986 $191,218,115 $33,943,568,481
1985 $163,288,815 $40,603,631,079
1984 $160,423,494 $41,807,931,453
1983 $156,704,290 $42,803,373,390
1982 $141,439,317 $46,622,715,281
1981 $139,174,178 $49,333,471,895
1980 $128,669,201 $43,599,134,193
1979 $105,377,995 $31,225,557,022
1978 $94,086,228 $23,775,718,541
1977 $97,884,434 $24,871,660,292
1976 $88,461,263 $19,213,212,475
1975 $86,820,762 $14,720,729,969
1974 $92,901,784 $11,651,505,689
1973 $78,900,289 $4,231,243,616
1972 $70,139,867 $1,415,086,929
1971 $66,289,450 $939,893,600
1970 $61,812,113 $685,986,701

Data sources: World Bank | Economy & Growth (1970–2025, retrieved 2026-07-08).

GeoRank.org/economy/bhutan/united-arab-emirates | CC BY

GDP per capita in Bhutan vs United Arab Emirates by year

Bhutan
GDP per capita

GDP per capita, PPP
United Arab Emirates
GDP per capita

GDP per capita, PPP
1x
Year Current $
Bhutan UAE
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $4,493 - - -
2024 $4,228 - $50,274 $79,229
2023 $3,831 $16,215 $49,851 $77,955
2022 $3,711 $15,064 $50,760 $75,072
2021 $3,571 $13,459 $44,118 $68,580
2020 $3,192 $12,475 $37,992 $66,791
2019 $3,577 $12,909 $45,939 $79,816
2018 $3,400 $11,970 $47,135 $77,446
2017 $3,435 $11,677 $43,734 $70,282
2016 $3,152 $11,273 $42,721 $69,987
2015 $2,954 $10,214 $44,910 $73,986
2014 $2,849 $9,323 $52,725 $87,478
2013 $2,680 $8,667 $53,247 $87,526
2012 $2,751 $8,577 $53,142 $89,198
2011 $2,788 $7,935 $51,922 $89,665
2010 $2,436 $7,246 $44,795 $85,120
2009 $1,918 $6,466 $37,803 $84,780
2008 $1,920 $6,035 $50,054 $94,628
2007 $1,850 $5,729 $45,855 $100,813
2006 $1,406 $4,860 $44,343 $106,814
2005 $1,300 $4,523 $38,719 $101,301
2004 $1,130 $4,173 $33,377 $98,661
2003 $1,022 $3,942 $29,660 $92,636
2002 $896 $3,663 $27,754 $88,467
2001 $812 $3,338 $27,745 $90,370
2000 $772 $3,113 $29,866 $92,899
1999 $685 $3,017 $25,856 $87,658
1998 $638 $2,819 $24,889 $90,229
1997 $630 $2,683 $27,983 $96,009
1996 $553 $2,548 $28,323 $94,620
1995 $530 $2,374 $27,003 $93,702
1994 $467 $2,146 $25,473 $89,959
1993 $407 $2,001 $25,033 $86,330
1992 $416 $1,840 $25,648 $87,509
1991 $401 $1,657 $25,691 $87,250
1990 $488 $1,638 $26,710 $88,455
1989 $462 - $23,167 -
1988 $489 - $21,570 -
1987 $449 - $23,113 -
1986 $365 - $23,132 -
1985 $321 - $29,468 -
1984 $326 - $32,012 -
1983 $328 - $34,650 -
1982 $306 - $39,972 -
1981 $311 - $44,855 -
1980 $296.9 - $42,925 -
1979 $251.4 - $34,238 -
1978 $232.2 - $29,379 -
1977 $249.9 - $35,020 -
1976 $233.7 - $31,197 -
1975 $237.4 - $27,117 -
1974 $262.8 - $23,823 -
1973 $230.9 - $9,696 -
1972 $212.4 - $3,675 -
1971 $207.7 - $2,805 -
1970 $200.3 - $2,394 -

Data sources: World Bank | Economy & Growth (1970–2025, retrieved 2026-07-08).

GeoRank.org/economy/bhutan/united-arab-emirates | CC BY

Bhutan's GDP per capita is $4,493, ranking 128/197, compared to $50,274 in the United Arab Emirates, ranking 25/197. Adjusted for purchasing power (GDP per capita PPP), Bhutan ranks 109th at $16,215, while the United Arab Emirates ranks 16th at $79,229.

Economic indicators

Bhutan UAE
Gross domestic product
$3.58B
2025
$552B
2024
GDP rank
167/197
2025
31/197
2024
GDP growth
8.01%
2024-2025
3.99%
2023-2024
GDP per capita
$4,493
2025
$50,274
2024
GDP per capita rank
128/197
2025
25/197
2024
GDP per capita, PPP
$16,215
2023
$79,229
2024
GDP per capita PPP rank
109/197
2023
16/197
2024
Government debt
$3.71B
2025
$193B
2024
Debt-to-GDP ratio
103.6%
2025
34.3%
2025
Government debt per person
$4,655
2025
$17,568
2024
Government debt per person rank
88/185
2025
37/185
2024
Average annual personal income after taxes
$4,215
2026
$40,096
2026
Market capitalization of domestic companies n/a
$1.11T
2025
Number of millionaires n/a
183,000
2026
Number of billionaires n/a
6
2026
Income share by richest 10%
22.7%
2022
20.5%
2018
Income share by poorest 10%
3.6%
2022
2.8%
2018
Government expenditure, % of GDP
30.5%
2025
22.6%
2025
Consumer prices inflation
2.6%
2024-2025
1.3%
2024-2025
Central bank interest rate n/a
3.65%
2025
Unemployment rate
3.36%
2025
1.88%
2024
Population
805057
11885001

Spending and national debt comparison by year

Bhutan
Spending

Debt
United Arab Emirates
Spending

Debt
1x
Year % of GDP
Bhutan UAE
Government spending Government debt Government spending Government debt
2025 30.5% 103.6% 22.6% 34.3%
2024 28.3% 108.7% 21.4% 34.9%
2023 28.9% 117.2% 22.7% 31.9%
2022 32.1% 119.9% 22.7% 31.5%
2021 36.6% 124.5% 25.9% 35.7%
2020 30.9% 116% 30.5% 30.1%
2019 24.2% 100.8% 27.4% 25.8%
2018 31.7% 103.4% 25.9% 20.7%
2017 30.6% 104.1% 27.2% 21.2%
2016 30.5% 103% 31.7% 18.6%
2015 27.5% 90.2% 26.4% 15.6%
2014 28.9% 89.8% 31.4% 13.5%
2013 32.5% 87.4% 28.9% 15.3%
2012 35.1% 71.5% 27.8% 20.2%
2011 36.1% 62.3% 29.6% 20.4%
2010 41.5% 55.8% 30.4% 18.3%
2009 39.3% 61% 35% 21.1%
2008 36.1% 60.6% 22% 8.95%
2007 33.2% 67.3% 17.7% 8.89%
2006 33.4% 80.1% 15.6% 5.05%
2005 36.4% 80.8% 15.7% 4.48%
2004 31% 76% 17.7% 4.08%
2003 34.7% 68.5% 20% 3.33%
2002 39.3% 57.7% 21.3% 3.43%
2001 50.3% 52.4% 25.2% 2.69%
2000 43% 44% 21.8% 3.12%
1999 40.2% 39.2% 24.3% 4.73%
1998 31.1% 36.4% 25.8% 4.18%
1997 37.8% 33% 22.6% 2.86%
1996 37.9% 36.8% 27.6% 3.48%
1995 38.6% 38.7% 26.1% 5.06%
1994 37.9% 53.2% 30.1% 5.58%
1993 35.2% 60.2% 31.5% 6.01%
1992 34.5% 35.6% 29.6% 5.31%
1991 30.8% 33.5% 36% 4.97%
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 (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1987–1998, retrieved 2026-07-08).

GeoRank.org/economy/bhutan/united-arab-emirates | CC BY

In 2025, Bhutan's government spending was $1.09B, accounting for 30.5% of its GDP, while the United Arab Emirates spent $118B, or 22.6% of GDP.

Debt-to-GDP ratio is 103.6% in Bhutan and 34.3% in the United Arab Emirates, ranking 19/185 and 146/185, respectively.

Government deficit by year

Deficit/surplus
Bhutan

United Arab Emirates
1x
Year Deficit/surplus, % of GDP
Bhutan UAE
2025 -2.7% 5.15%
2024 -1.79% 6.41%
2023 -4.73% 5.82%
2022 -6.95% 9.8%
2021 -5.76% 3.96%
2020 -1.81% -2.42%
2019 -1.49% 2.5%
2018 -1.52% 3.65%
2017 -4.49% -0.16%
2016 -2.31% -2.95%
2015 -0.49% -6.35%
2014 2.46% 1.74%
2013 -4.55% 7.99%
2012 -2.1% 8.59%
2011 -3.02% 5.05%
2010 1.92% 0.52%
2009 -0.8% -6.13%
2008 -2.57% 17.6%
2007 0.79% 17.1%
2006 -0.07% 20.2%
2005 -6.96% 16%
2004 1.8% 6.4%
2003 -10.2% 2.35%
2002 -4.33% -1.24%
2001 -12.2% 1.21%
2000 -3.39% 10.7%
1999 -1.28% 1.31%
1998 1.28% 1%
1997 -1.92% 6.71%
1996 2.55% 0.92%
1995 -0.88% 3.58%
1994 -0.13% -1.78%
1993 4.71% -2.89%
1992 -3.47% 3.34%
1991 -0.48% 3.89%
1990 -7.21% -
1989 -10.1% -
1988 1.33% -
1987 -0.56% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1987–1989, retrieved 2026-07-08).

GeoRank.org/economy/bhutan/united-arab-emirates | CC BY

In 2024, Bhutan's government deficit, the difference between spending and revenue, was $59.9M, equivalent to 1.79% of GDP. This compares to the United Arab Emirates' surplus of $35.4B, or 6.41% of GDP.

Over the past 34 years, Bhutan recorded a fiscal deficit in 27 of those years, while the United Arab Emirates ran a deficit in 8 years. On average, Bhutan posted an annual deficit equal to 2.18% of GDP, compared to surplus of 4.25% of GDP for the United Arab Emirates.

Inflation comparison by year

Inflation
Bhutan

United Arab Emirates
1x
Year Consumer prices inflation
Bhutan UAE
2025 2.6% 1.3%
2024 4.3% 1.7%
2023 4.5% 1.6%
2022 5.9% 4.8%
2021 8.2% -0.1%
2020 3% -2.1%
2019 2.8% -1.9%
2018 3.6% 3.1%
2017 4.3% 2%
2016 3.3% 1.6%
2015 6.7% 4.1%
2014 9.6% 2.3%
2013 8.1% 1.1%
2012 10.1% 0.7%
2011 8.6% 0.9%
2010 4.8% 0.9%
2009 7.1% -4.7%
2008 6.3% 12.3%
2007 5.2% 11.1%
2006 4.9% 9.3%
2005 4.8% 6.2%
2004 3.3% 5%
2003 2.5% 3.1%
2002 2.9% 2.9%
2001 3.7% 2.8%
2000 7.2% 1.3%
1999 9.1% 2.1%
1998 7.6% 2%
1997 8.6% 3%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2025, retrieved 2026-07-08).

GeoRank.org/economy/bhutan/united-arab-emirates | CC BY

Over the past 29 years, Bhutan has recorded an average annual inflation rate of 5.64%, compared with 2.7% in the United Arab Emirates. In 2025, inflation was 2.6% in Bhutan and 1.3% in the United Arab Emirates.

Top exports between countries

Bhutan
Export category Export value
Chemicals & pharma $391K
Wood & paper products $70K
Metals $58K
Raw agricultural goods $46K
Precious metals & jewellery $10K
Textiles & consumer goods $3K
Raw materials & minerals $1K
UAE
Export category Export value
Machinery & equipment $3.85M
Processed food, beverages & tobacco $987K
Textiles & consumer goods $391K
Chemicals & pharma $61K
Raw agricultural goods $43K
Raw materials & minerals $6K
Metals $4K
Precious metals & jewellery $4K
Animal & marine products $3K
Wood & paper products $2K

Balance of trade

Bhutan UAE
Current account balance
-$649M
2024
$80B
2024
Current account balance ranking
105/190
2024
9/190
2024
Current account balance, % of GDP
-19.4%
2024
+14.5%
2024
Goods imports
$1.28B
2024
$400B
2024
Goods exports
$660M
2024
$467B
2024
Service imports
$228M
2024
$117B
2024
Service exports
$288M
2024
$181B
2024
Imports of goods and services, % of GDP
47.9%
2024
92.2%
2023
Exports of goods and services, % of GDP
31.5%
2024
106.8%
2023

Economic freedom indices

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

Bhutan UAE
Economic freedom 57.5 71.9
Economic freedom ranking 115/197 29/197
Property rights 69.2 62.9
Government integrity 72.2 65.3
Judicial effectiveness 61.8 34.4
Tax burden 83.4 99.9
Government spending 74.1 85.1
Fiscal health 25.8 97.6
Business freedom 67.8 84.5
Labor freedom 60.1 63.2
Monetary freedom 71.6 81.2
Trade freedom 63.4 78.6
Investment freedom 20 50
Financial freedom 20 60

Economic freedom comparison by year

Bhutan
United Arab Emirates
1x
Year Economic freedom index
Bhutan UAE
2026 57.5 71.9
2025 57.5 71.6
2024 55.4 71.1
2023 59 70.9
2022 59.3 70.2
2021 58.3 76.9
2020 62.1 76.2
2019 62.9 77.6
2018 61.8 77.6
2017 58.4 76.9
2016 59.5 72.6
2015 57.4 72.4
2014 56.7 71.4
2013 55 71.1
2012 56.6 69.3
2011 57.6 67.8
2010 57 67.3
2009 57.7 64.7
2008 - 62.6
2007 - 62.6
2006 - 62.2
2005 - 65.2
2004 - 67.2
2003 - 73.4
2002 - 73.6
2001 - 74.9
2000 - 74.2
1999 - 71.5
1998 - 72.2
1997 - 71.9
1996 - 71.6

Data sources: The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-07-08).

GeoRank.org/economy/bhutan/united-arab-emirates | CC BY

The Economic Freedom Index for Bhutan is 57.5, ranking 115/197, compared to 71.9 for the United Arab Emirates, ranking 29/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Bhutan UAE
Services, % of GDP
53.2%
2025
54.9%
2024
Industry, % of GDP
33.2%
2025
44.3%
2024
Agriculture, forestry, and fishing, % of GDP
13.7%
2025
0.77%
2024
GNI, Atlas method
$3.43B
2025
$566B
2024
GNI per capita, PPP
$18,520
2025
$81,640
2024
Total reserves including gold
$1.19B
2025
$292B
2025
Total reserves ranking
140/177
2025
14/177
2025
Net foreign direct investment
-$2.82M
2024
$31.5B
2024
Net inflows of foreign direct investment
$2.82M
2024
$45.6B
2024
Net outflows of foreign direct investment
$0
2024
$77.2B
2024
Servicing debt to the IMF, % of GNI
5.11%
2024
n/a
Poverty at national poverty lines
12.4%
2022
19.5%
2020
Gross capital formation, % of GDP
42.6%
2024
26.6%
2023

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08); U.S. Census Bureau (1985–2025, retrieved 2026-07-08).

GeoRank.org/economy/bhutan/united-arab-emirates | CC BY

Compare countries by 7 more topics

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Data sources:

  1. World Bank | Economy & Growth (1970–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08)
  3. The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-07-08)
  4. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  5. International Monetary Fund (IMF) | Public Finances in Modern History (1987–1998, retrieved 2026-07-08)
  6. TradeMap (2021–2025, retrieved 2026-07-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  8. LivingCost (2026, retrieved 2026-07-08)
  9. Central Intelligence Agency (CIA) (2020, retrieved 2026-07-08)

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.