ent's desire to protect
the country's environment and cultural traditions. Growth picked up
in 1995 and the country's balance of payments remained strong with
comfortable reserves. The cautious fiscal stance planned for FY95/96
suggests continued economic stability in 1996. However, excessive
controls and uncertain policies in areas like industrial licensing,
trade, labor, and finance continue to hamper foreign investment.

GDP: purchasing power parity - $1.3 billion (1995 est.)

GDP real growth rate: 6% (1995 est.)

GDP per capita: $730 (1995 est.)

GDP composition by sector:
agriculture: NA%
industry: NA%
services: NA%

Inflation rate (consumer prices): 8.6% (FY94/95 est.)

Labor force: NA
by occupation: agriculture 93%, services 5%, industry and commerce 2%
note: massive lack of skilled labor

Unemployment rate: NA%

Budget:
revenues: $52 million
expenditures: $150 million, including capital expenditures of $95
million (FY93/94 est.)
note: the government of India finances nearly three-fifths of
Bhutan's budget expenditures

Industries: cement, wood products, processed fruits, alcoholic
beverages, calcium carbide

Industrial production growth rate: 7.6% (1992 est.)

Electricity:
capacity: 360,000 kW
production: 1.7 billion kWh
consumption per capita: 143 kWh (1993)
note: Bhutan exports electricity to India

Agriculture: rice, corn, root crops, citrus, foodgrains; dairy
products, eggs

Exports: $70.9 million (f.o.b., FY94/95 est.)
commodities: cardamon, gypsum, timber, handicrafts, cement, fruit,
electricity (to India), precious stones, spices
partners: India 94%, Bangladesh

Imports: $113.6 million (c.i.f., FY94/95 est.)
commodities: fuel and lubricants, grain, machinery and parts,
vehicles, fabrics, rice
partners: India 77%, Japan, UK, Germany, US

External debt: $141 million (October 1994)

Economic aid:
recipient: $NA

Currency: 1 ngultrum (Nu) = 100 chetrum; note - Indian currency is
also legal tender

Exchange rates: ngultrum (Nu) per US$1 - 35.766 (January 1996),
32.427 (1995), 31.374 (1994), 30.493 (1993), 25.918 (1992), 22.742
(1991); note - the Bhutanese ngultrum is at par with the Indian rupee

Fiscal year: 1 July - 30 June

Transportation
--------------

Railways: 0 km

Highways:
total: 1,296 km
paved: 416 km
unpaved: 880 km (1988 est.)

Ports: none

Airports:
total: 2
with paved