According to allcitypopulation, Bhutan is a small landlocked country located in the eastern Himalayas between India and China. Its total area is approximately 38,394 square kilometers and it has a population of over 790,000 people. The capital of Bhutan is Thimphu and its official language is Dzongkha.
Geographically, Bhutan is divided into three distinct regions: the highlands in the north, the hills in the center, and the plains in the south. The highlands are characterized by rugged mountains covered with lush forests. The hills are mostly grassy meadows dotted with villages and monasteries while the plains are mostly flat with some scattered settlements.
The climate of Bhutan varies from subtropical to temperate depending on altitude. Summers are generally hot and humid while winters are mild but can be cold at higher altitudes. The main natural resources of Bhutan include hydropower, timber, gypsum and limestone as well as some minor minerals such as quartzite and copper ore. According to Petwithsupplies, the capital city of Bhutan is Thimphu with a population of 114 551 (2017 Census). Other major cities include Phuentsholing with a population of 27 658, Gelephu with a population of 9 858, Wangdue with a population of 8 954 (2017 census).
The economy of Bhutan is largely based on agriculture which accounts for around 60% of GDP followed by services (30%) and industry (10%). Agriculture mainly consists of subsistence farming with rice being the main crop followed by maize, millet, wheat, barley, potatoes and vegetables. Livestock farming also plays an important role in providing food security as well as generating income for rural households through dairy products like cheese or butter or meat such as yak or pork.
The service sector makes up around 30% of GDP with tourism being an important contributor due to its stunning natural beauty including snow-capped mountains and lush forests as well as its unique culture including traditional festivals like Tsechu which attract visitors from all over the world. There has been a sharp increase in tourism since 1966 when it was opened up to foreign visitors resulting in more jobs being created in this sector as well as increased revenue for local businesses such as restaurants or hotels.
Industry makes up 10% of GDP with manufacturing playing an important role particularly textiles which account for around 80% of production followed by food processing (20%). Other industries include cement manufacturing, paper production, printing services and pharmaceuticals among others which provide employment opportunities for many locals while also helping to generate income for local businesses through exports to other countries such as India or Bangladesh.
Overall, then it can be seen that Bhutan has a diverse economy based largely on agriculture supplemented by services like tourism along with some manufacturing activities which help to generate employment opportunities while also providing export revenues through trading activities with other countries.
Foreign Trade of Bhutan
Bhutan’s foreign trade is mainly conducted with India, with which it has a Free Trade Agreement. Bhutan is a net importer of goods and services from India, which accounts for more than 50% of its total imports. The main imports from India are petroleum products, machinery and parts, raw materials for the textiles industry, food items, and pharmaceuticals. Bhutan also imports manufactured goods from other countries such as the United States, Japan, Bangladesh and China. In terms of exports, Bhutan mainly exports hydroelectricity to India which constitutes around 60-70% of its total exports. Other major exports include cement, ferroalloy products, agricultural products such as cardamom and apples as well as handicrafts and textiles. Bhutan also exports some minerals such as dolomite and slate to countries like Bangladesh and Nepal. The country is actively pursuing free trade agreements with other countries in order to diversify its export base beyond India. To this end it has signed the South Asian Free Trade Agreement (SAFTA) with other South Asian nations in 2004. It has also signed several Memorandum of Understandings (MoU) with countries like China and Thailand to promote bilateral trade between them and Bhutan.
Major Trading Partners of Bhutan
Bhutan’s major trading partner is India, which accounts for over 90% of its total trade. The Free Trade Agreement (FTA) with India has enabled Bhutan to benefit from lower tariffs on imports of petroleum products, machinery and parts, raw materials for the textile industry, food items and pharmaceuticals. In terms of exports, hydroelectricity constitutes around 60-70% of Bhutan’s total exports. Other major exports include cement, ferroalloy products, agricultural products such as cardamom and apples as well as handicrafts and textiles.
Bhutan also has strong trading relationships with countries such as Bangladesh and Nepal. It exports minerals such as dolomite and slate to these countries. The country also has Memorandum of Understandings (MoU) with China and Thailand to promote bilateral trade between them and Bhutan. Additionally, Bhutan has signed the South Asian Free Trade Agreement (SAFTA) with other South Asian nations in 2004 which provides duty free access to goods from all member states.
The United States is another important trading partner for Bhutan. The US is one of the main sources of manufactured goods imported by Bhutan including electrical machinery, vehicles, chemicals and plastic products among others. Apart from that, the US is a major export destination for Bhutanese agricultural products like apples and cardamom as well as handicrafts.
Finally, Japan is another important trading partner for Bhutan due to its significant imports of Japanese machinery parts and electronic components used in the manufacturing sector in the country. Japan also imports textiles from Bhutan as well as agricultural products like apples and cardamom.
Major Imports and Exports of Bhutan
Bhutan’s major imports include petroleum products, machinery and parts, raw materials for the textile industry, food items and pharmaceuticals. The majority of these products are imported from India which accounts for over 90% of Bhutan’s total trade. Additionally, the country imports manufactured goods from countries such as United States and Japan. These include electrical machinery, vehicles, chemicals and plastic products among others.
Bhutan’s major exports include hydroelectricity which constitutes around 60-70% of its total exports. Other major exports include cement, ferroalloy products, agricultural products such as cardamom and apples as well as handicrafts and textiles. These items are primarily exported to countries like India, Bangladesh and Nepal. Additionally, Bhutan also exports minerals such as dolomite and slate to these countries.
The US is one of the main destinations for Bhutanese exports including agricultural products like apples and cardamom as well as handicrafts. Japan is another important export destination for Bhutan due to its significant imports of textiles from Bhutan as well as agricultural products like apples and cardamom. Finally, Bhutan also has a Free Trade Agreement (FTA) with India which enables them to benefit from lower tariffs on imports of petroleum products, machinery and parts among other items into the country.