Economy (Bhutan)
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     Overview:
         The economy, one of the world's least developed, is based on agriculture and
         forestry, which provide the main livelihood for 90% of the population and
         account for about 50% of GDP. Rugged mountains dominate the terrain and make
         the building of roads and other infrastructure difficult and expensive. The
         economy is closely aligned with that of India through strong trade and
         monetary links. Low wages in industry lead most Bhutanese to stay in
         agriculture. Most development 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.
     GDP:
         exchange rate conversion - $320 million, per capita $200; real growth rate
         3.1% (1991 est.)
     Inflation rate (consumer prices):
         12% (FY90)
     Unemployment rate:
         NA
     Budget:
         revenues $112 million; expenditures $121 million, including capital
         expenditures of $58 million (FY91 est.)
     Exports:
         $74 million (f.o.b., FY91)
       commodities:
         cardamon, gypsum, timber, handicrafts, cement, fruit
       partners:
         India 93%
     Imports:
         $106.4 million (c.i.f., FY91 est.)
       commodities:
         fuel and lubricants, grain, machinery and parts, vehicles, fabrics
       partners:
         India 67%
     External debt:
         $80 million (FY91 est.)
     Industrial production:
         growth rate NA; accounts for 18% of GDP
     Electricity:
         353,000 kW capacity; 2,000 million kWh produced, 1,280 kWh per capita (1990)
     Industries:
         cement, wood products, processed fruits, alcoholic beverages, calcium
         carbide
     Agriculture:
         accounts for 50% 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, and eggs
     Economic aid:
         Western (non-US) countries, ODA and OOF bilateral commitments (1970-89),
         $115 million; OPEC bilateral aid (1979-89), $11 million
     Currency:
         ngultrum (plural - ngultrum); 1 ngultrum (Nu) = 100 chetrum; note - Indian
         currency is also legal tender
     Exchange rates:
         ngultrum (Nu) per US$1 - 25.927 (January 1992), 22.742 (1991), 17.504
         (1990), 16.226 (1989), 13.917 (1988), 12.962 (1987); note - the Bhutanese
         ngultrum is at par with the Indian rupee
     Fiscal year:
         1 July - 30 June