A report released by the National Statistics Bureau showed Bhutan reduced its trade deficit in 2019 by 32.42% in comparison to the previous year
A report released by the National Statistics Bureau showed Bhutan reduced its trade deficit in 2019 by 32.42% in comparison to the previous year. The improvement came mainly because of an impressive growth registered by the export market in the Country.
In 2018, the trade deficit grew by 13.03% while export declined by 7.65% in comparison to 2017. The export posted a good recovery, a growth of 19.39%, in 2019 from earlier 4.58% in 2018.
The total deficit in 2019 recorded at $319 million, 16.34% of total GDP, a decline of 32.42% from the previous year. The increase in boulder and electricity export helped the recovery in the export market of the country.
Goods export accounts for 79.40% of the total export of the country while services contributed 20.59%. Increased export and reduced import helped the country to reduce its trade deficit in 2019.