Vietnam and Bhutan
Vietnam and Bhutan are developing a diplomatic relationship begun in 2012. The first Bhutanese head of state's visit to Vietnam in August 2025 opened talks on economic mechanisms, tourism, organic agriculture and connections between their societies.
Analysis reviewed: 2026-10-08 · Indicators updated: 2026-10-08What merchandise trade shows
In 2025, goods trade between Vietnam and Bhutan totalled 262.6 million current USD.
Documented trade sectors
Within the selected chapters, machinery and mechanical appliances stands out in shipments from Vietnam to Bhutan, at 260.5 million USD in 2025.
Bilateral indicators
Blank cells: data unavailable.
| Indicator | Value | Period |
|---|---|---|
| Goods trade | 262.56 M USD | 2025 · Comtrade |
| Goods: Vietnam to Bhutan | 262.2 M USD | 2025 · Comtrade |
| Goods: Bhutan to Vietnam | 0.36 M USD | 2025 · Comtrade |
| Services trade | ||
| Export share: Vietnam to Bhutan | ||
| Export share: Bhutan to Vietnam | ||
| Investment stock: Vietnam in Bhutan | ||
| Investment stock: Bhutan in Vietnam |
Definitions and sources
Trade adds both directions. Shares refer to the country’s total goods exports; investment is an accumulated stock, not an annual flow. Every figure retains the currency and period of its source. BEA positions are historical-cost estimates based on the immediate counterpart, not market values or investment by ultimate owner. ‘More than’ indicates a lower bound, not an exact amount. A recorded stock does not establish new activity or authorisation to operate under sanctions.
- Goods trade
- 2025 · UN Comtrade · Goods; full calendar year; reporter BTN. Both directions come from the same verified customs document, not from adding mirror declarations together. Exports generally FOB; imports generally CIF.
- Goods: Vietnam to Bhutan
- 2025 · UN Comtrade · Goods; full calendar year; reporter BTN. Both directions come from the same verified customs document, not from adding mirror declarations together. Exports generally FOB; imports generally CIF.
- Goods: Bhutan to Vietnam
- 2025 · UN Comtrade · Goods; full calendar year; reporter BTN. Both directions come from the same verified customs document, not from adding mirror declarations together. Exports generally FOB; imports generally CIF.
Country comparison
Period and source beside each figure · est. = estimate by the stated institution.
| Indicator | Vietnam | Bhutan |
|---|---|---|
| Nominal GDP | 514.7 billion USD2025 · World Bank | 3.58 billion USD2025 · WB |
| GDP per capita | 5,065.99 USD2025 · World Bank | 4,492.78 USD2025 · WB |
| GDP growth | 8.02 %2025 · World Bank | 8.01 %2025 · WB |
| Policy interest rate | ||
| Inflation · annual average | 3.31 %Annual average · 2025 · World Bank | 3.56 %Annual average · 2025 · WB |
| Inflation · latest year-on-year figure | ||
| Unemployment | 1.52 %ILO est.2025 · World Bank | 3.23 %ILO est.2025 · WB |
| Budget balance (% of GDP) | -2.2 %IMF est.2025 · IMF | -2.7 %IMF est.2025 · IMF |
| Gross public debt (% of GDP) | 30.3 %IMF est.2025 · IMF | 103.6 %IMF est.2025 · IMF |
| Current account balance (% of GDP) | 6.33 %2024 · World Bank | -19.4 %2024 · WB |
| Population | 101,598,5272025 · World Bank | 796,6822025 · WB |
| Area | 331,338 km²2023 · World Bank | 38,390 km²2023 · WB |
| Military expenditure | ||
| Military expenditure (% of GDP) |
Definitions, dates and sources
Blank cells are not zero. Average annual inflation and the latest year-on-year figure appear in separate rows: they are not the same measure. Every annual indicator retains its reference year; when the years differ, the figures are identified as not directly comparable. When a figure is unavailable from the World Bank, an annual IMF estimate is used and identified as such. The latest year-on-year figure is the latest official release verified as of 7 October 2026. This includes advance releases marked as provisional. Mexico may have a fortnightly figure before the full month is published; it is not automatically compared with a monthly figure. The publication date is retained in each source’s details; it does not replace the observation period or the annual average. Policy rates carry their own dates and represent different instruments. Spain and France share the ECB rate. Balances are positive for surpluses and negative for deficits. The IMF may use fiscal years; unemployment retains each source’s definition (ILO estimates, IMF WEO or PCBS), as stated in the details. For Palestine, debt and the fiscal balance cover central government and retain the PCBS definition; they are not presented as consolidated general government. These are economic magnitudes, not measures of relationship quality.
Area retains each source’s territorial coverage; it does not determine sovereignty or effective control. Canada uses an archived national geographic reference. Military expenditure retains the 2024 SIPRI sample distributed by the World Bank: the amount and percentage of GDP use that same definition, which differs from NATO’s. It is not an approved budget or a 2026 figure. Information from the Stockholm International Peace Research Institute (SIPRI). Military expenditure database · Terms of use0
Indicators reviewed: 2026-10-07. Each source retains its original access date; this review does not turn all the data into 2026 observations. Figures may be revised.
- Nominal GDP
- Current USDVietnam: 2025 · World Bank · Official World Bank series; observation period, not download date.Bhutan: 2025 · World Bank · Annual World Bank observation, with its original year; not monthly data.
- GDP per capita
- Current USD per personVietnam: 2025 · World Bank · Official World Bank series; observation period, not download date.Bhutan: 2025 · World Bank · Annual World Bank observation, with its original year; not monthly data.
- GDP growth
- Annual real change (%)Vietnam: 2025 · World Bank · Official World Bank series; observation period, not download date.Bhutan: 2025 · World Bank · Annual World Bank observation, with its original year; not monthly data.
- Policy interest rate
- Central bank instrument (%)
- Inflation · annual average
- Average annual change in headline CPI (%)Vietnam: 2025 · Annual average change in CPI (%) · World Bank · Official World Bank series; observation period, not download date.Bhutan: 2025 · Annual average CPI change (%) · World Bank · Annual World Bank observation, with its original year; not monthly data.
- Inflation · latest year-on-year figure
- Headline CPI relative to the same period of the previous year (%); monthly or fortnightly frequency stated
- Unemployment
- % of the labour force; definition used by the stated institutionVietnam: 2025 · ILO modelled estimate, percentage of the labour force · World Bank · ILO est. · Official World Bank series; observation period, not download date.Bhutan: 2025 · ILO modelled estimate; percentage of the labour force · World Bank · ILO est. · Annual World Bank observation, with its original year; not monthly data.
- Budget balance
- General government (% of GDP)Vietnam: 2025 · IMF · IMF est. · IMF WEO general-government estimate. Retains the source’s fiscal year when it differs from the calendar year.Bhutan: 2025 · IMF · IMF est. · WEO general-government estimate, % of GDP. Not an observed balance for the current month.
- Gross public debt
- General government (% of GDP)Vietnam: 2025 · IMF · IMF est. · IMF WEO general-government estimate. Retains the source’s fiscal year when it differs from the calendar year.Bhutan: 2025 · IMF · IMF est. · WEO general-government estimate, % of GDP. Not an observed balance for the current month.
- Current account balance
- % of GDPVietnam: 2024 · World Bank · Official World Bank series; observation period, not download date.Bhutan: 2024 · World Bank · Annual World Bank observation, with its original year; not monthly data.
- Population
- PeopleVietnam: 2025 · World Bank · Official World Bank series; observation period, not download date.Bhutan: 2025 · World Bank · Annual World Bank observation, with its original year; not monthly data.
- Area
- Total area in km²; territorial coverage of the sourceVietnam: 2023 · World Bank · Official World Bank series; observation period, not download date.Bhutan: 2023 · World Bank · Annual World Bank observation, with its original year; not monthly data.
- Military expenditure
- Current USD per year; SIPRI series
- Military expenditure (% of GDP)
- Percentage of GDP; SIPRI definition, not NATO’s definition
Other data specific to this relationship
What they buy and sell
Documented selection, not an exhaustive list. Cells without a figure do not mean zero value; some products are identified without a verified amount.
Vietnam to Bhutan
| Product or sector | Value / share |
|---|---|
| Machinery and mechanical appliances | 260.5 M USD2025 · Source |
| Electrical and electronic equipment | 0.71 M USD2025 · Source |
| Vehicles and components | 0.00175 M USD2025 · Source |
| Dairy products, eggs and honey | 0.000311 M USD2025 · Source |
| Pharmaceutical products | 0.000000979 M USD2025 · Source |
Bhutan to Vietnam
| Product or sector | Value / share |
|---|---|
Connections between people
He also suggested collaboration in cybersecurity, spiritual tourism, organic agriculture and traditional medicine. The monarch set out Bhutan's development vision linked to wellbeing, cultural identity and environmental protection. [1]
Residents, study and travel
Blank cells: data unavailable. Each measure retains its definition and period.
| Indicator | Value | Period / source |
|---|---|---|
| Residents from Vietnam living in Bhutan | ||
| Residents from Bhutan living in Vietnam | ||
| Study and training: Vietnam in Bhutan | ||
| Study and training: Bhutan in Vietnam | ||
| Academic stays: Vietnam in Bhutan | ||
| Academic stays: Bhutan in Vietnam | ||
| Travel: Vietnam to Bhutan | ||
| Travel: Bhutan to Vietnam |
What each figure measures
Residents are counted by nationality and the coverage of the stated register, not as people born in the other country or as new arrivals in one year. PERE includes dual nationals and people born outside Spain. Study with OPT and stays carrying academic credit are different measures. Travel may include several visits by the same person; FRONTUR arrivals require an overnight stay, whereas the Canadian survey includes day visits. These figures are neither added together nor automatically compared across directions.
Mobility data added or reviewed: 2026-10-07. Reference periods may be earlier.
Underlying ties
History, institutions and long-standing issues.
The scale of both economies
Nominal GDP for Vietnam is 514.7 billion USD (2025), compared with 3.6 for Bhutan (2025). The reference populations are 101.6 and 0.797 million, respectively. In the same year, the economy of Vietnam was 143.8 times that of Bhutan in nominal GDP. The comparison provides context on market size, but does not, on its own, measure influence, well-being or diplomatic closeness. Estimates and their sources retain their labels in the tables. [4] [5] [6] [7]
Recent developments
Recent developments and latest available data · Review: 2026-10-08
Bilateral context
Phạm Minh Chính received King Jigme Khesar Namgyel Wangchuck on 19 August 2025. The meeting addressed expanded official visits and possible creation of bilateral cooperation mechanisms. [1]
Cooperation and bilateral issues
The prime minister proposed negotiating economic, trade and investment agreements and offered Vietnamese products such as food, consumer goods and building materials. He also suggested collaboration in cybersecurity, spiritual tourism, organic agriculture and traditional medicine. A direct air connection featured among proposals to facilitate exchanges; the statement does not present it as operating. The monarch set out Bhutan's development vision linked to wellbeing, cultural identity and environmental protection. Both supported greater multilateral forum coordination, and Vietnam welcomed Bhutan's ASEAN cooperation. The meeting expanded the agenda without documenting projects already implemented in all those areas. [1]
What merchandise trade shows
In 2025, merchandise trade between the two countries (Vietnam and Bhutan) totalled 262.6 million current USD. Shipments from the first to the second were 262.2 million; those in the opposite direction, 0.36 million. The difference between the two flows was 261.8 million, in favour of Vietnam. This is a goods balance, not the total balance of the economic relationship: it excludes services, income and transfers. Both directions come from a single customs reporter to avoid adding mirror records. [2]
Documented trade sectors
Within the selected chapters, machinery and mechanical appliances stands out in shipments from Vietnam to Bhutan, at 260.5 million USD in 2025. The table compares eight selected chapters with the same coverage as the trade total. It is not a complete list or proof that the first item in this selection is the leading product across the entire relationship. A chapter groups numerous goods: machinery and components, for example, do not describe a single business transaction. [3]
Sources and data
Periods and scope of the figures
Institutional sources and periods accompany each figure. Annual trade, investment positions, residents and visits are distinct measures. Empty cells do not mean zero. Statements of intent are not presented as project implementation or treaties in force.
- Bilateral relations — VNM-BTN
mofa.gov.vn · Institutional source · Accessed: 2026-10-08
- UN Comtrade annual data; reused verified primary payload, not re-downloaded
UN Comtrade · Institutional source · Accessed: 2026-10-08
- Bounded matrix; reporter, partner, year, chapter and direction identified in each record
UN Comtrade · Institutional source · Accessed: 2026-10-08
- NY.GDP.MKTP.CD; country ISO and year preserved; no military data; exact requested country subset independently re-fetched and values compared
World Bank · Institutional source · Accessed: 2026-10-07
- Official series — gdp
World Bank · Institutional source · Accessed: 2026-10-07
- SP.POP.TOTL; country ISO and year preserved; no military data; exact requested country subset independently re-fetched and values compared
World Bank · Institutional source · Accessed: 2026-10-07
- Official series — population
World Bank · Institutional source · Accessed: 2026-10-07
Additional sources on products and human connections
- UN Comtrade
2026-10-08 · Accessed: 2026-10-08 · Bounded matrix; reporter, partner, year, chapter and direction identified in each record.