India-Bhutan Bilateral Trade Analysis 2023
Complete trade statistics: $1.40B total volume •India surplus: $558.30M
India → Bhutan
$979.50M
Exports (2023)
Bhutan → India
$421.20M
Imports (2023)
Trade Balance
$558.30M
Surplus for India
Total Trade
$1.40B
Combined Volume
Trade Flow Visualization
Direct trade relationship between India and Bhutan. Green line shows exports from India, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the India-Bhutan commercial relationship and competitive positioning in global markets.
India → Bhutan Exports
Export Market Intelligence
🎯 Strategic Export Focus
India's export portfolio to Bhutan demonstrates strategic specialization, 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 representing a key competitive advantage in this bilateral market.
Bhutan → India Imports
Import Dependency Profile
📦 Import Strategy Analysis
India's import pattern from Bhutan reveals significant dependencyin ferro-alloys: ferro-silicon, containing by weight more than 55% of silicon, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
India demonstrates competitive strength in exportingpetroleum 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 to Bhutan, 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: India-Bhutan Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $1.40 billionrepresenting a significant bilateral economic relationship
- Trade Balance: India maintains a surplus of $558.30 million
- Export Focus: India's primary exports 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
- Import Dependencies: Key imports from Bhutan 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
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 India leveraging its comparative advantages 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.
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
India's specialization 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 oilscomplements Bhutan's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in ferro-alloys: ferro-silicon, containing by weight more than 55% of silicon.
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 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 and ferro-alloys: ferro-silicon, containing by weight more than 55% of silicon demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
India's trade surplus of $558.30 million strengthens 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 India and Bhutan represents a total trade volume of $1.40 billion in 2023. This partnership demonstrates a favorable trade balance for India, with exports exceeding importsby $558.30 million.
Export Strengths
India's exports to Bhutan total $979.50 million, with competitive advantages 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, representing $164.56M or16.8% of bilateral exports.
Import Dependencies
Imports from Bhutan amount to $421.20 million, highlighting economic interdependence in ferro-alloys: ferro-silicon, containing by weight more than 55% of silicon, with Ferro-alloys: ferro-silicon, containing by weight more than 55% of silicon comprising35.1% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade surplus indicates India's competitive position in this bilateral relationship. 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.
Download Bilateral Trade Data
Access detailed trade data between India and Bhutan in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023