Bhutan's external debt stocks (% of GNI) was 114.5% in 2023, the latest year in the World Bank's World Development Indicators. That is up 25.05 percentage points from 89.45% in 2013.
Key figures
| Value | Year | |
|---|---|---|
| Latest | 114.5% | 2023 |
| Five years earlier | 112.22% | 2018 |
| Ten years earlier | 89.45% | 2013 |
| Highest | 139.83% | 2020 |
| Lowest | 0.3% | 1981 |
| Average since 2014 | 114.5% | 2014–2023 |
| First recorded | 0.3% | 1981 |
What the numbers say
In 2023, Bhutan's external debt stocks (% of GNI) fell 0.52 percentage points on 2022 (from 115.02% to 114.5%).
Across the 30 yearly changes before that (1993 to 2022), the average change was +2.43 percentage points and a typical year strayed about 10.22 percentage points from that (the standard deviation). This year's change was 0.3 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.
On record, the biggest yearly rise was 27.95 percentage points in 2020 and the biggest yearly fall was 14.69 percentage points in 2021. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.
From 2014 to 2023 the straight-line trend is upward, about 2.26 percentage points a year. A straight line explains 37% of the movement over 10 observed years.
Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.
How it compares
See how every economy compares in the full ranking.
| Value | Year | |
|---|---|---|
| Bhutan | 114.5% | 2023 |
| South Asia | 20.02% | 2024 |
| Lower middle income | 30.09% | 2024 |
Closest to Bhutan in the 2023 ranking
- Lebanon — 1st of 5: 331.65%
- Tonga — 3rd of 5: 35.44%
- Syrian Arab Republic — 4th of 5: 25.33%
- Afghanistan — 5th of 5: 19.89%
What this measures
Total external debt stocks to gross national income. Total external debt is debt owed to nonresidents repayable in currency, goods, or services. Total external debt is the sum of public, publicly guaranteed, and private nonguaranteed long-term debt, use of IMF credit, and short-term debt. Short-term debt includes all debt having an original maturity of one year or less and interest in arrears on long-term debt. GNI (formerly GNP) is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and property income) from abroad.
Regional and income-group figures are computed by the World Bank as a weighted average.
All 43 values
| Year | External debt stocks (% of GNI) |
|---|---|
| 2023 | 114.5 |
| 2022 | 115.02 |
| 2021 | 125.14 |
| 2020 | 139.83 |
| 2019 | 111.88 |
| 2018 | 112.22 |
| 2017 | 113.85 |
| 2016 | 110.02 |
| 2015 | 103.23 |
| 2014 | 99.34 |
| 2013 |
External debt stocks (% of GNI) in nearby economies
- Bangladesh — 22.25% (2024)
- India — 18.58% (2024)
- Maldives — 75.56% (2024)
- Nepal — 23.27% (2024)
- Sri Lanka — 58.89% (2024)
More economic policy & debt data for Bhutan
- Grants, excluding technical cooperation (BoP, current US$) — US$40.14 million (2023)
- Net bilateral aid flows from DAC donors, Total (current US$) — US$77.45 million (2023)
- Net official development assistance and official aid received (current US$) — US$156.84 million (2023)
- Net official development assistance and official aid received (constant 2023 US$) — US$156.84 million (2023)
- Net official development assistance received (current US$) — US$156.84 million (2023)
- Net official development assistance received (constant 2023 US$) — US$156.84 million (2023)
- Net ODA received per capita (current US$) — US$199.44 (2023)
- Net bilateral aid flows from DAC donors, Japan (current US$)
Reading data like this
Questions people ask
- What is Bhutan's external debt stocks (% of GNI)?
- 114.5% in 2023, according to the World Bank (World Development Indicators).
- How has it changed since 1981?
- It is up 114.2 percentage points from 0.3% in 1981. The highest value was 139.83% in 2020 and the lowest 0.3% in 1981.
- Is the latest change in external debt stocks (% of GNI) unusual for Bhutan?
- In 2023, Bhutan's external debt stocks (% of GNI) fell 0.52 percentage points on 2022 (from 115.02% to 114.5%). Across the 30 yearly changes before that (1993 to 2022), the average change was +2.43 percentage points and a typical year strayed about 10.22 percentage points from that (the standard deviation). This year's change was 0.3 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.
- Where does this data come from?
- The World Bank's World Development Indicators, licensed CC BY 4.0. Original source: International Debt Statistics, World Bank (WB).
Source
World Bank, World Development Indicators, indicator DT.DOD.DECT.GN.ZS, licensed CC BY 4.0. Original source: International Debt Statistics, World Bank (WB) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.
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