Is Bhutan a developed country?

Bhutan is viewed as one of the least evolved nations in Asia. Be that as it may, it is viewed as the quickest developing nation with an 8.4% development rate in 2017. According to the Asian Development Bank, Bhutan is the fastest growing economy in the developing Asian region and the outlook is for continued, strong, and stable growth. The country is likely to experience a similar growth rate projection for the next two upcoming years.

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With regards to Bhutan’s revenue source, they fundamentally rely on 5 gems, which are Mining, forestry, hydro power projects, tourism, and agriculture. Among which the most noteworthy GDP giver is Hydro power followed by the tourism, and so on. Bhutan has a decent exchange connection with India, where it sends out approximately 70%-80% of the products and does 80% to 90% of the imports. Over 60% of Bhutanese are occupied with farming practice and rest are employed in secondary and tertiary sector.

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Bhutan is ranked as the 3rd fastest growing economy in 2017 as per World Bank. The factors behind the highest growth rate are said to be mainly because of the completion of three mega hydropower projects (punatsangchu -1, punatsangchu -2 and mangdechu).

Regarding Bhutan’s government stability it can be said that Bhutan has a stable political and economic environment and has made a great achievement in reduction of extreme poverty and providing gender equality. Regarding its development almost all the parts of the country is connected with Highways and farm roads with more than 90% of the total households are connected with electricity.

Image by Free-Photos from Pixabay

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