Thailand Emerges as Bhutan's Top Agro Export Market Beyond India and Bangladesh
In 2024, Thailand became Bhutan's leading agricultural export destination outside its traditional markets of India and Bangladesh, importing goods worth Nu 83.21 million. This accounted for 42.82% of Bhutan's agricultural exports to non-traditional markets, with cordyceps being the primary export. ?
Bhutan's total agricultural exports amounted to Nu 3.51 billion in 2024. While India and Bangladesh remain major partners, Bhutan exported Nu 174.02 million worth of goods to 17 other countries. ?
Top Non-Traditional Markets:
Thailand: Nu 83.21 million (mainly cordyceps)
Japan: Nu 30.40 million (matsutake mushrooms, buckwheat, honey, cordyceps)
Nepal: Nu 3.27 million (incense sticks, green tea)
Singapore: Diverse range of 19 primary and 8 agro-processed commodities
Russia & UAE: Cordyceps, spices, turmeric?
In total, Bhutan exported 21 primary commodities and 14 processed products to 13 countries, generating Nu 99.24 million. Notable exports included matsutake mushrooms, spices, shelled areca nuts, buckwheat, and hazelnuts. ?
Despite these gains, Bhutan faced a trade deficit in 2024, with exports (excluding India) at Nu 12.05 billion and imports at Nu 19.86 billion, resulting in a trade gap of Nu 7.81 billion.
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