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Topic: Economy of Bhutan

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History of Bhutan

Lhotshampa

South Asian Association for Regional Cooperation

Thimphu, Bhutan

	History of Bhutan
		The precursor of Bhutan, the state of Lhomon or Monyul, was said to have existed between 500 B.C. and 600 A.D. At the end of that period, Buddhism was introduced into the country; a branch of Mahayana Buddhism is the state religion of Bhutan.
		Bhutan was subject to both Indian and Tibetan influences, and small independent monarchies began to develop in the country by the early ninth century.
		Bhutan's traditional society is both matriarchal and patriarchal; the head of the family is the member in highest esteem.
	motherearthtravel.com /bhutan/history.htm (1853 words)

	CIA - The World Factbook -- Field Listing - Economy - overview (Site not responding. Last check: 2007-10-18)
		The economy, one of the most stable and prosperous in the Caribbean, is highly dependent on tourism, generating an estimated 45% of the national income.
		The economy is predominantly agricultural with roughly 90% of the population dependent on subsistence agriculture.
		The economy shrank an estimated 1.2% in 2001, 0.9% in 2002, grew 0.4% in 2003, and shrank by 3.5% in 2004.
	www.cia.gov /cia/publications/factbook/fields/2116.html (17762 words)

	Bhutan (Site not responding. Last check: 2007-10-18)
		Bhutan, monarchy, southern Central Asia, in the eastern Himalaya, bounded on the north and northwest by the Tibet Autonomous Region of China and on the east, south, and southwest by India.
		Bhutan's rivers, none of which is navigable, flow south to the Brahmaputra River in India.
		The monetary unit of Bhutan is the ngultrum (16.43 ngultrums equal U.S.$1; 1990).
	fuchs-online.com /ntpsc/subject/bhutan/geo/bhutan.htm (1544 words)

	BBC News \| Country profile \| Bhutan: a land frozen in time
		The tiny kingdom of Bhutan lies in the Himalayan Mountains, with Tibet and China to the north and India to the south.
		Bhutan is one of the poorest nations in the world: in 1992 GNP per head was reckoned to be $468 a head.
		Bhutan suspects that many who claim to be Bhutanese are simply Nepalis attracted by a better standard of living, free education and health care.
	news.bbc.co.uk /1/hi/country_profile/54627.stm (883 words)

	The Economy of Bhutan (Site not responding. Last check: 2007-10-18)
		Cornerstones of the Bhutanese economy are agriculture and forestry, as well as animal breeding, in which 90 percent of the population are engaged.
		The industrial sector of Bhutan is dominated by the cottage industry, however, only two percent of the population are engaged in this area.
		Practically all of the electricity of Bhutan is produced by hydraulic energy.
	www.bhutan.at:81 /altdye00/f-fact/f/start.php3 (421 words)

	Bhutan Flag, Bhutan History, Culture of Bhutan, Economy of Bhutan, Flag of Bhutan
		Bhutan is known for enacting religious, historical and other interesting tales through dances, wherein the dancers wear colorful wooden masks and special costumes create a splendid display of heroes, demons, animals, gods, and caricatures of common people.
		Bhutan has a large potential for hydroelectric power resources though only a few dams have been built to date; the largest being the Chukha Hydroelectric Project, which is located in Chukha, between Thimphu and Phuntsholing.
		Bhutan's primary trading partner is India even as the country receives imports from Japan, Germany, the United States, and the United Kingdom, and exports goods to Bangladesh, the Middle East, Singapore, and Europe.
	www.mapsofworld.com /country-profile/bhutan1.html (567 words)

	Bhutan. The Columbia Encyclopedia, Sixth Edition. 2001-05 (Site not responding. Last check: 2007-10-18)
		Bhutan is drained by several rivers rising in the Himalayas and flowing into India.
		Bhutan’s economy is closely tied to that of India, both through trade and monetary links.
		In 1864 the British occupied part of S Bhutan, which was formally annexed after a war in 1865; the Treaty of Sinchula provided for an annual subsidy to Bhutan as compensation.
	www.bartleby.com /65/bh/Bhutan.html (1152 words)

	ECONOMY OF BHUTAN: Bhutannewsonline.com
		Bhutan’s economy saw a healthy growth in 2002 with the GDP climbing to 7.7 percent in 2002 from 6.6 the previous year, according to the annual report of Bhutan’s central bank, the royal monetary authority (RMA), and the momentum was maintained in 2003.
		Bhutan’s total export was worth Nu 5,261.8 million in 2002, showing a climb of 8.2 percent.
		Bhutan’s balance of payments (BOP) recorded a 100 percent growth in 2003, from Nu 1,244.0 million in 2002 to Nu 2,573.2 million, propelled largely by the inflow of loans, grants and foreign direct investment (FDI), according to the annual report of the royal monetary authority (RMA).
	www.bhutannewsonline.com /economy.html (2757 words)

	ABTO (Site not responding. Last check: 2007-10-18)
		Bhutan was a predominantly subsistence agrarian country until the 1960s.
		Even though there are many niche markets such as eco-tourism and cultural tourism that offer significant growth potential and are consistent with other development objectives, these niches are yet to be explored to their full potential.
		As Bhutan’s major trading partner India is market to 90 percent of its exports and source for 70 percent of its imports.
	www.abto.org.bt /economy.html (375 words)

	Encyclopedia: Economy of Bhutan
		Model education, social, and environment programs in Bhutan are underway with support from multilateral development organizations.
		In 2004, Bhutan became the first country in the world to ban smoking and the selling of Tobacco.
		Economies by country The South Asia Free Trade Agreement is an agreement reached at the 12th South Asian Association for Regional Cooperation (SAARC) summit at Islamabad, capital of Pakistan on 6 January 2004.
	www.nationmaster.com /encyclopedia/Economy-of-Bhutan (594 words)

	Bhutan
		Mountainous Bhutan, half the size of Indiana, is situated on the southeast slope of the Himalayas, bordered on the north and east by Tibet and on the south and west and east by India.
		Until the 1960s Bhutan was largely isolated from the rest of the world, and its people carried on a tranquil, traditional way of life, farming and trading, which had remained intact for centuries.
		Bhutan: History - History Although its early history is vague, Bhutan seems to have existed as a political entity for...
	www.factmonster.com /ipka/A0107341.html (728 words)

	Bhutan the Economy (Site not responding. Last check: 2007-10-18)
		Bhutan, recognized by international aid agencies as one of the poorest of the least developed countries of the world, had a primarily subsistence agricultural economy in the early 1990s.
		Although Bhutan has a minuscule private sector, it was growing in the late twentieth century in conjunction with government development plans.
		It was controlled, however, by a small sector of society, members of the royal family, and individuals or families with government ties.
	www.country-studies.com /bhutan/the-economy.html (326 words)

	Bhutan Labor Force (Site not responding. Last check: 2007-10-18)
		Low wages for laborers, ties to agricultural work, and a dispersed population led to the influx of migrant labor, estimated to have reached 100,000 Nepalese laborers from India in 1988.
		Foreign laborers in Bhutan increased during the 1980s, compelling the government to identify and expel the growing number of those without work permits.
		Bhutan was not a member of the International Labour Organisation.
	www.country-studies.com /bhutan/labor-force.html (195 words)

	Bhutan Economy
		The economy, one of the world's smallest and least developed, is based on agriculture, forestry, and hydroelectricity.
		Bhutan’s economy has been on an upturn due to recent subregional economic cooperation efforts.
		Bhutan has applied for membership in the World Trade Organization and is in the process of developing clear legal and regulatory systems designed to promote business development
	www.traveldocs.com /bt/economy.htm (315 words)

	Explore Bhutan >>> Yangphel Travel
		Bhutan is a sparsely populated land of some 700,000 inhabitants, spread out over the inaccessible and inhospitable mountainous landscape in miniature agrarian settlements.
		The Bhutanese economy is significantly underdeveloped in keeping with the Kingdom's late entry to the modern world.
		For the realization of the long term objective of an economy based around "sophistication and civilization" (Planning Commission (1999:94)), the government lead and the private sector response will be of critical importance.
	www.bhutanexplorer.com /learn/economy (1013 words)

	SAF - Kingdom of Bhutan Economy
		Bhutan remains a largely agrarian society, with the traditional system of subsistence farming giving way to mondernisation and an emphasis on cash crops.
		Industrial growth has, however, picked up recently, the main driver being a number of mega hydroelectric projects which are expected to earn about 90 per cent of the country's national revenue by 2005.
		Bhutan receives substantial bilateral and multilateral aid, estimated at about 45 to 50 percent of the budget.
	www.southasiafoundation.org /saf/bhutan/bhutaneco.asp (389 words)

	Bhutan country brief - Country information - Australian Department of Foreign Affairs and Trade
		Bhutan has a history of fiscal prudence and good governance, very little debt (US$533 million at 30 June 2004) and is assisted by the nominal anchor provided by the currency peg to the Indian rupee.
		Bhutan is working to improve the business environment by reforming the financial sector, reducing trade and investment barriers and keeping the government compact and efficient.
		Bhutan faces the challenge of matching gains from strong economic growth (6-7 per cent per annum since the mid 1980s) to rising expectations of expanding employment opportunities and welfare improvements, while preserving its environment and culture.
	www.dfat.gov.au /geo/bhutan/bhutan_country_brief.html (1219 words)

	Hydro-Electric Power Projects of Bhutan: Bhutannewsonline.com
		Bhutan got its first electricity in 1966, when the first 256 KW diesel generator was installed in Phuentsholing in 1966.
		Bhutan's first 360 KW hydropower plant was installed in Thimphu in 1967.
		The Bhutanese economy saw an estimated GDP growth of 6.8 percent in 2003-2004.
	www.bhutannewsonline.com /hydro_electricity.html (2114 words)

	Economy Of Bhutan (Site not responding. Last check: 2007-10-18)
		If you would like to use this flag of Bhutan or any other on your website you are welcome to do so, all we ask is that you include a link back to our site on the same page.
		If you would like to use this map of Bhutan or any other on your website you are welcome to do so, all we ask is that you include a link back to our site on the same page.
		If you would like to use this information for Bhutan or any other on your website you are welcome to do so, all we ask is that you include a link back to our site on the same page.
	www.appliedlanguage.com /country_guides/bhutan_country_economy.shtml (517 words)

	Bhutan: environment, culture, and development
		Since there is virtually no scholarly work on contemporary Bhutan's economy, a broad overview of its development in the context of environmental and cultural setting has been attempted.
		The unique process of development change in Bhutan amid environmental and cultural preservation is discussed in the concluding chapter.
		Bhutan: Environment, Culture and Development Strategy provides an up to date, comprehensive and thoroughly researched analysis of the physical, cultural and economic factors shaping the future of the Bhutan Himalaya.
	www.uky.edu /AS/Geography/dept/bhutanenvironment.htm (171 words)

	Bhutan -> Economy on Encyclopedia.com 2002 (Site not responding. Last check: 2007-10-18)
		Bhutan bans tourism at sacred sites; says visitors desecrate shrines, induce greed.
		Bhutan increases 1989 rates for travel in country; kingdom seeks to reduce number of foreign visitors.
		Students in Punakha, Bhutan, march during festivities marking the birthday of King Jigme Singye Wangchuk.
	www.encyclopedia.com /html/section/Bhutan_Economy.asp (742 words)

	Bhutan - Banking and Credit (Site not responding. Last check: 2007-10-18)
		The Bank of Bhutan, the nation's commercial bank, was established in 1968 as a joint venture with the Chartered Bank of India, which owned 25 percent of the bank.
		Since its establishment, the Bank of Bhutan's board of directors, has been composed of key officials from the economic ministries and departments and two officials from the Indian banks.
		The Bank of Bhutan was able to give relatively large loans for capital programs, such as irrigation projects in the south-central region.
	countrystudies.us /bhutan/35.htm (430 words)

	RAOnline Bhutan: Bhutan - Economy >> Report on Bhutan's economy 2002
		NSB is the central apex body to validate, authenticate and disseminate national statistics to ensure uniformity in the use of concepts, definitions and classification to enable comparison of data at the national and international levels.
		The decrease in the finance sector was mainly due to a drop in the oversea interest earning of RMA by Nu 211.9 million which was in turn hurt by the decline in the dollar's interest rate, according to the report.
		The report pointed out that the economy in 2002 was sustained largely by the additional generation of hydro-power from Kurichu and Basochhu I power projects of 33.6 million and 110.0 million units.
	www.raonline.ch /pages/bt/ecdu/bt_ecostat01.html (541 words)

	Publications
		In Bhutan the system of credit is very young phenomenon and it did not gain much impetus until recently with the emergence of a strong monetary system.
		The Bank of Bhutan (BOB), which is mandated to give 20% of their loan portfolio as rural credit did not lend even 1% of their loan portfolio.
		Acknowledging the situation, the Royal Government of Bhutan decided that there had to be a separate institution to deal with rural lending and Food Corporation of Bhutan (FCB) was identified as the appropriate organization in 1980.
	www.bangladesh-bank.org /seminar/cpbhutan.html (3454 words)

	Bhutan in Numbers (Site not responding. Last check: 2007-10-18)
		Bhutan, despite its small size, is a country of geographic extremes.
		From the sub-tropical south of the country it is only a few kilometers, as the crow flies, to the permanent ice of the Himalayas.
		On the following pages you may gain an overview of the general geographic, economic and demographic facts about Bhutan.
	www.bhutan.at:81 /english/f-fact/a-fact/start.php3 (77 words)

	Bhutan - Neuere Literatur
		Bhutan national human development report 2000 : gross national happiness and human development -- searching for common ground.
		Vladimir Stehlik: Bhutan and the impending gush of ego.
		Muni: Bhutan in the throes of ethnic conflict.
	www.sai.uni-heidelberg.de /abt/intwep/zingel/bhutn-li.htm (945 words)

	Bhutan Telecom
		Bhutan Telecom Limited is pleased to inform all our customers that Merak, one of the remotest Geowg in the country, is now connected with the rest of the world.
		Bhutan Telecom will be upgrading its existing optical fiber network between, Thimphu-Paro, and Thimphu-Phuentsholing, from STM-1 to a higher capacity STM-4, on 4th September 2005 between 0700-1800 hrs.
		Bhutan Telecom Ltd. is pleased to inform all our valued customers that effective from the 1st of September, 2005, a new Telecom bill payment counter will be opened at the Bhutan Power Corporation’s bill payment counter.
	www.telecom.net.bt (981 words)

	Nepal/Bhutan Economy News - Media Monitoring Service by EIN News (Site not responding. Last check: 2007-10-18)
		Bhutan, the tiny Himalayan Kingdom, because of its...
		Human Trafficking in South Asia The global economy is fueling widespread rural to urban migration...
		Bureau of Statistics announced that the Chinese economy had grown a robust 9.4 percent in...
	www.einnews.com /nepal/newsfeed-NepalEconomy (711 words)

	Explore Bhutan >>> Yangphel Travel
		Explore Bhutan and learn more about the Land of the Thunder Dragon.
		The Explore section is filled with fun and useful information on traveling to Bhutan with Yangphel Adventure Travel.
		In Bhutan, it is 3:28:33 AM on Sunday, October 30, 2005.
	www.bhutanexplorer.com (143 words)

	Bhutan : Geography, People, Politics, Government, Economy, transport
		In 1865, Britain and Bhutan signed the Treaty of Sinchulu, under which Bhutan would receive an annual subsidy in exchange for ceding some border land.
		Two years later, a formal Indo-Bhutanese accord returned the areas of Bhutan annexed by the British, formalized the annual subsidies the country received, and defined India's responsibilities in defense and foreign relations.
		A refugee issue of some 100,000 Bhutanese in Nepal remains unresolved; 90% of the refugees are housed in seven United Nations Office of the High Commissioner for Refugees (UNHCR) camps.
	www.studentsoftheworld.info /infopays/wfb.php3?CODEPAYS=BHU (1116 words)

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