ent projects,
such as road construction, rely on Indian migrant labor. Bhutan's
hydropower potential and its attraction for tourists are its most
important natural resources; however, the government limits the number
of tourists to 4,000 per year to minimize foreign influence. Much of
the impetus for growth has come from large public-sector companies.
Nevertheless, in recent years, Bhutan has shifted toward decentralized
development planning and greater private initiative. The government
privatized several large public-sector firms, is revamping its trade
regime and liberalizing administerial procedures over industrial
licensing. The government's industrial contribution to GDP decreased
from 13% in 1988 to about 10% in 1992.
National product:
GDP - purchasing power equivalent - $500 million (1993 est.)
National product real growth rate:
5% (FY93 est.)
National product per capita:
$700 (1993 est.)
Inflation rate (consumer prices):
11% (October 1993)
Unemployment rate:
NA%
Budget:
revenues:
$100 million
expenditures:
$112 million, including capital expenditures of $60 million (FY92
est.)
note:
the government of India finances nearly one-quarter of Bhutan's budget
expenditures
Exports:
$66 million (f.o.b., FY93 est.)
commodities:
cardamon, gypsum, timber, handicrafts, cement, fruit, electricity (to
India), precious stones, spices
partners:
India 82%, Bangladesh, Singapore
Imports:
$125 million (c.i.f., FY93 est.)
commodities:
fuel and lubricants, grain, machinery and parts, vehicles, fabrics
partners:
India 60%, Japan, Germany, US, UK
External debt:
$141 million (June 1993)
Industrial production:
growth rate NA%; accounts for 8% of GDP; primarily cottage industry
and home based handicrafts
Electricity:
capacity:
336,000 kW
production:
1.5422 billion kWh
consumption per capita:
2,203 kWh (25.8% is exported to India leaving 1,633 kWh per capita;
1990-91)
Industries:
cement, wood products, processed fruits, alcoholic beverages, calcium
carbide
Agriculture:
accounts for 45% of GDP; based on subsistence farming and animal
husbandry; self-sufficient in food except for foodgrains; other
production - rice, corn, root crops, citrus fruit, dairy products,
eggs
Economic aid:
recipient:
Western (non-US) countries, ODA and OOF bilateral commitments
(1970-89), $115 million; OPEC bilateral aid (1979-89), $11 million
Curr