The country’s economy recorded a robust growth of 9.63 per cent in the second quarter of this year, showing a strong rebound across major sectors of the economy. It is an increase of 2.6 percentage points compared to 7.03 per cent growth observed during the same period last year. According to the National Statistics Bureau’s latest quarterly GDP report, the growth is largely driven by strong performances in the service and industrial sectors.
The size of Bhutan’s economy was estimated at Nu 77bn in the second quarter of this year, which is an increase of over Nu 9bn compared to the same period last year.
The services sector remained the biggest part of Bhutan’s economy, making up a little over 55 per cent. It was valued at around Nu 42bn and grew by 9.3 per cent in the second quarter.
The secondary sector, comprising industries, also registered impressive growth of 12.97 per cent, contributing Nu 24bn and making up a little over 32 per cent of the economy. The growth was mainly driven by better performance of the electricity and manufacturing sectors.
The agriculture sector, which also includes forestry and related activities, grew by three per cent. It was worth more than 10bn, making up nearly 13 per cent of the economy.
The NSB report highlights that while services continue to dominate Bhutan’s economic structure, strong industrial growth boosted the overall performance, marking one of the highest quarterly growth rates in recent years.
Samten Dolkar
