Woochul Yang

Economic Map Project: BHUTAN

Economic Data for Bhutan GDP: $4.284 Billion Growth Rate: 8.1% GDP Per Capita: $6,000 Unemployment Rate: 4.0% Population below Poverty Line: 23.2% Exports: $509.4 Million Imports: $620.8 Million National Debt: $1.275 Billion

Bhutan, officially the Kingdom of Bhutan, is a landlocked state in South Asia, located at the eastern end of the Himalayas and bordered to the south, east and west by the Republic of India and to the north by the People's Republic of China. Bhutan is separated from the nearby country of Nepal to the west by the Indian state of Sikkim, and from Bangladesh to the south by the Indian states of Assam and West Bengal. Though Bhutan's economy is one of the world's smallest, it has grown rapidly in recent years, by eight percent in 2005 and 14 percent in 2006. In 2007, Bhutan had the second fastest growing economy in the world, with an annual economic growth rate of 22.4 percent. Bhutan's economy is based on agriculture, forestry, tourism and the sale of hydroelectric power to India. Agriculture provides the main livelihood for more than 80 percent of the population. The industrial sector is in a nascent stage, and though most production comes from cottage industry, larger industries are being encouraged and some industries such as cement, steel, and ferroalloy have been set up.