Saturday, June 7, 2025
  • Contact Us
  • About BBS
  • Privacy & Policy
ENG
DZO
BBSCL Logo
  • Home
  • Business
  • Politics
  • Sports
  • Education
  • More
    • Announcement
    • Audience Survey Report
    • Programme
    • Radio Dzo-Channel Schedule
    • Radio Mix-Channel Schedule
Radio Live
No Result
View All Result
BBSCL logo
  • Home
  • Business
  • Politics
  • Sports
  • Education
  • More
    • Announcement
    • Audience Survey Report
    • Programme
    • Radio Dzo-Channel Schedule
    • Radio Mix-Channel Schedule
No Result
View All Result
BBSCL logo
Radio LIVE

Country’s trade deficit declines by Nu 6.4bn in 2023

February 27, 2024
in Economy
Reading Time: 2 mins read
0
0
SHARES
29
VIEWS
Share on FacebookShare on Twitter

The country’s trade deficit declined by over six-billion-ngultrum last year compared to 2022. A trade deficit occurs when a country imports more than it exports. According to the finance ministry’s latest Bhutan Trade Statistics, the trade deficit reduced for the first time in four years after tripling since the onset of the pandemic in 2020.

The country’s trade deficit increased from over Nu 18bn in 2020 to over 32bn in 2021, and to almost 62bn in 2022. However, the difference between exports and imports dropped to Nu 55.5bn last year.

The reduction in the trade deficit has been attributed to a significant drop in the import bill following the continuation of the vehicle import moratorium and the suspension of commercial housing and hotel construction loans last year.

Import figures dropped from almost Nu 119bn in 2022 to a little over Nu 108bn in 2023.

Electricity made up the bulk of the total exports, last year, at over Nu 16bn, which is a drop of over Nu 6bn. Increased domestic demand for electricity has led to a drop in export numbers.

According to the central bank’s monthly statistical bulletin, revenue from domestic electricity demand increased by over Nu 2bn between 2022 and 2023.

Of the total trade deficit of Nu 55.5bn, over Nu 42bn is with India and the remaining with other countries.

The import bill, last year, comprised over Nu 13bn worth of diesel and petrol. Over Nu 3bn worth of rice, and Nu 2.2bn were spent on importing smartphones.

On the export front, silicon exports contributed to almost Nu 14bn in revenue.

Ferro-silicomanganese, dolomite, and boulder worth almost Nu 8bn were also exported.

India continues to be Bhutan’s largest export and import partner as trade with India accounts for over Nu 112bn.

Sherub Dorji

Previous Post

Steel modular bridge construction underway at Gongri Chhu

Next Post

Rukha Chiwog’s fish farmers struggle amid water scarcity

Next Post

Rukha Chiwog's fish farmers struggle amid water scarcity

UN CRC calls for government to ensure clean, sustainable environment for Children

Remembering Lyonpo Ugyen Tshering

Please login to join discussion

RECOMMENDED NEWS

Elephant menace expected to reduce in Gawaithang as electric fencing works begin- Sarpang

Elephant menace expected to reduce in Gawaithang as electric fencing works begin- Sarpang

2 years ago
10
Restriction of lucky dip stalls disappoints vendors at Sarpang Tshechu

Restriction of lucky dip stalls disappoints vendors at Sarpang Tshechu

2 years ago
16

BoBConnect Agents could lose agent-ship if they do not follow due process for banking services

4 years ago
5

Lyonchhoen's opening remarks on new development paradigm

12 years ago
2

BROWSE BY CATEGORIES

  • Accidents (14)
  • Agriculture (426)
  • Announcement (174)
  • Audience Survey Report (1)
  • Business (744)
  • Crime/Legal (367)
  • Culture (47)
  • Development (51)
  • Disaster (57)
  • Economy (277)
  • Education (412)
  • Entertainment (13)
  • Environment (60)
  • Feature (65)
  • Featured (6)
  • Festival (78)
  • GMC (14)
  • Headlines (6)
  • Health (622)
  • Legal (52)
  • Literature (9)
  • Livestock (75)
  • Media (25)
  • Other Stories (5,574)
  • Politics (419)
  • RCSC (1)
  • Recent stories (5)
  • Religion (45)
  • Sci/Tech (709)
  • Social (515)
  • Sports (449)
  • Technology (190)
  • Tourism (19)
  • Uncategorized (13,866)
  • Video (136)
  • Video Story (249)
  • Wildlife (42)

BROWSE BY TOPICS

Tender Announcement Vacancy Announcement

POPULAR NEWS

  • BPC’s investigation rules out transformer short circuit as Damchhu forest fire cause

    Viral video of Bhutanese man assaulted by locals and police in Jaigaon sparks safety concerns

    0 shares
    Share 0 Tweet 0
  • Gelephu Mindfulness City opens recruitment drive for Bhutanese professionals

    0 shares
    Share 0 Tweet 0
  • Newspaper accuses DPT candidate of political ploy

    0 shares
    Share 0 Tweet 0
  • A centenarian’s recipe to longevity

    0 shares
    Share 0 Tweet 0
  • 40 companies risk closure over failure to submit financial reports

    0 shares
    Share 0 Tweet 0
BBSCL

Bhutan Broadcasting Service (BBS) is Bhutan’s primary national broadcaster, delivering diverse news and entertainment in multiple languages, fostering cultural understanding and public knowledge.

Follow us on social media:

Recent News

  • RMA to roll out seven new measures for loan repayment support
  • National Housing Strategy to be ready by September
  • Bhutan begins NFT sales, to preserve heritage
  • City bus viability raised in parliament, MoIT minister cites past privatisation failures
  • Paro MP questions airport expansion impact on affected landowners

News Category

  • Accidents
  • Agriculture
  • Announcement
  • Audience Survey Report
  • Business
  • Crime/Legal
  • Culture
  • Development
  • Disaster
  • Economy
  • Education
  • Entertainment
  • Environment
  • Feature
  • Featured
  • Festival
  • GMC
  • Headlines
  • Health
  • Legal
  • Literature
  • Livestock
  • Media
  • Other Stories
  • Politics
  • RCSC
  • Recent stories
  • Religion
  • Sci/Tech
  • Social
  • Sports
  • Technology
  • Tourism
  • Uncategorized
  • Video
  • Video Story
  • Wildlife
  • Contact Us
  • About BBS
  • Privacy & Policy

© 2024 BBSCL. All rights reserved.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Home
  • Business
  • Politics
  • Sports
  • Education
  • More
    • Announcement
    • Audience Survey Report
    • Programme
    • Radio Dzo-Channel Schedule
    • Radio Mix-Channel Schedule

© 2024 BBSCL. All rights reserved.