Bhutan-India Bilateral Trade Analysis 2023
Complete trade statistics: $1.40B total volume •Bhutan deficit: $558.30M
Bhutan → India
$421.20M
Exports (2023)
India → Bhutan
$979.50M
Imports (2023)
Trade Balance
$558.30M
Deficit for Bhutan
Total Trade
$1.40B
Combined Volume
Trade Flow Visualization
Direct trade relationship between Bhutan and India. Green line shows exports from Bhutan, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the Bhutan-India commercial relationship and competitive positioning in global markets.
Bhutan → India Exports
Export Market Intelligence
🎯 Strategic Export Focus
Bhutan's export portfolio to India demonstrates strategic specialization, with ferro-alloys: ferro-silicon, containing by weight more than 55% of silicon representing a key competitive advantage in this bilateral market.
India → Bhutan Imports
Import Dependency Profile
📦 Import Strategy Analysis
Bhutan's import pattern from India reveals significant dependencyin petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Bhutan demonstrates competitive strength in exportingferro-alloys: ferro-silicon, containing by weight more than 55% of silicon to India, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsmoderatecomplementarity, with each country specializing in different sectors.
Growth Potential
The $1.40B trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Bhutan-India Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $1.40 billionrepresenting a significant bilateral economic relationship
- Trade Balance: Bhutan maintains a deficit of $558.30 million
- Export Focus: Bhutan's primary exports include ferro-alloys: ferro-silicon, containing by weight more than 55% of silicon, aeroplanes and other aircraft: of an unladen weight exceeding 15,000kg, dolomite, not calcined or sintered: including dolomite roughly trimmed, or merely cut by sawing or otherwise into blocks or slabs of rectangular (including square) shape
- Import Dependencies: Key imports from India include petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils, ferrous products: obtained by direct reduction of iron ore, in lumps, pellets or similar forms, propylene, other olefin polymers: polypropylene in primary forms
Strategic Trade Indicators
📈 Market Position: This bilateral trade relationship represents an important regional trade partnerships, with complementary economic strengths driving sustained commercial exchange.
Historical Trade Analysis & Economic Context
Trade Evolution Timeline
2019-2023: Recent Trends
Current trade volume of $1.40B represents the culmination of evolving bilateral commercial relationships, influenced by global supply chain shifts and changing economic priorities.
2015-2019: Growth Period
Sustained expansion in bilateral trade driven by complementary economic structures, with Bhutan leveraging its comparative advantages in ferro-alloys: ferro-silicon, containing by weight more than 55% of silicon.
2010-2015: Foundation Building
Establishment of modern trade frameworks and reduction of barriers, facilitating increased commercial exchange and investment flows between the two economies.
Pre-2010: Early Development
Initial stages of bilateral trade relationship development, with focus on traditional export-import patterns and gradual market integration.
Key Economic Drivers
Comparative Advantage
Bhutan's specialization in ferro-alloys: ferro-silicon, containing by weight more than 55% of siliconcomplements India's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $1.40B bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $1.40B bilateral trade volume positions this relationship for continued growth, supported by technological advancement, evolving consumer preferences, and strengthening economic ties. Key opportunities lie in expanding cooperation in emerging sectors while managing potential supply chain vulnerabilities.
Economic Impact & Strategic Outlook
Economic Impact Assessment
Trade Volume Impact
The $1.40 billion bilateral trade volume represents a important trade relationshipfor both economies.
Industrial Integration
Trade flows in ferro-alloys: ferro-silicon, containing by weight more than 55% of silicon and petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Bhutan's trade deficit of $558.30 million impacts its overall economic position in this bilateral relationship.
Strategic Future Outlook
🚀Growth Opportunities
⚠️Risk Factors
🎯Strategic Recommendations
- Strengthen cooperation in high-value sectors beyond current trade patterns
- Develop alternative supply chains to reduce dependency risks
- Explore joint ventures in emerging technology sectors
- Enhance trade facilitation and reduce transaction costs
Market Position & Competitive Summary
The bilateral trade relationship between Bhutan and India represents a total trade volume of $1.40 billion in 2023. This partnership demonstrates an unfavorable trade balance for Bhutan, with imports exceeding exportsby $558.30 million.
Export Strengths
Bhutan's exports to India total $421.20 million, with competitive advantages in ferro-alloys: ferro-silicon, containing by weight more than 55% of silicon, representing $148.00M or35.1% of bilateral exports.
Import Dependencies
Imports from India amount to $979.50 million, highlighting economic interdependence in petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils, with Petroleum oils and oils from bituminous minerals, not crude: preparations n.e.c. containing by weight 70% or more of petroleum oils or oils from bituminous minerals: these being the basic constituents of the preparations: waste oils comprising16.8% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade deficit indicates Bhutan's strategic sourcing from India. This partnership is characterized by complementary trade flows, with each country specializing in different product categories based on their respective economic strengths, industrial capabilities, and position in global value chains.
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Access detailed trade data between Bhutan and India in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023