COUNTRY BACKGROUND - Gross National Happiness Commission

Economic Performance
agricultural products, including horticultural crops, and cement. Figure 2.4 * indicates that the surge in exports was
mainly due to the commencement of electricity sales from Chhukha, although there was also an increase in exports
of wood and wood products during the same period. While the importance of India as a source of imports declined
somewhat in the second half of the 1980s, 60—80% of Bhutan's imports continued to come from India by the end
of the 6FYP.
Balance of PaymentsBalance of Payments
2.22 The trade balance continued to be in deficit throughout the period under review, ranging from Nu 769.6 m
in 1985/84 to Nu 412.3 m in 1987/88 and an average of about Nu 625.7 m. Imports and exports grew at 12.5% and
36% per annum respectively. Export value showed a significant rise in 1987 due to the export of electricity. In
general the values of exports for most commodities have increased over the years. The value of imports have
shown substantial rise in recent years for petroleum products, rice and electrical equipments. In invisible trade
(services and transfers), receipts were consistently lower than payments. The main items in receipts are: income
from tourism and interest from Royal Monetary Authority deposits in India.
* Detailed statistics on trade with countries other than India have not been published.
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Figure 2.4