April 23, 2025
THIMPHU – Thailand emerged as Bhutan’s one of the top agricultural export destinations, importing goods worth Nu 83.21 million last year.
This accounted for 42.82 percent of Bhutan’s total agricultural exports to countries beyond its two traditional markets and included a mix of nine primary and nine agro-processed products, with cordyceps being the main export.
According to the Bhutan Trade Statistics (BTS) 2024, compiled by the Market Information and Research Division under the Department of Agricultural Marketing and Cooperatives (DAMC), exports earned Bhutan Nu 3.51 billion last year. This figure includes both raw (primary) and value-added (processed) products.
While India and Bangladesh remain Bhutan’s major agricultural trading partners, the country exported Nu 174.02 million worth of goods to 17 other countries, making up around five percent of the total export value.
The countries that imported agricultural products from Bhutan included Australia, Germany, Japan, Malaysia, Nepal, the Russian Federation, Singapore, Thailand, and the United Arab Emirates. Other markets—China, Switzerland, Vietnam, the US, the UK, Taiwan, and Cambodia—imported only cordyceps.
After Thailand, Japan was the second-largest buyer, importing Nu 30.40 million worth of agricultural products, or 17.47 percent of Bhutan’s non-traditional export share. Japan’s imports included four key commodities: Matsutake mushrooms, buckwheat, natural honey, and cordyceps.
Nepal followed with imports worth Nu 3.27 million, mainly consisting of incense sticks and unfermented green tea, totaling 15.04 metric tonnes. Singapore imported a diverse range of 19 primary and eight agro-processed commodities.
The Russian Federation imported 0.92 metric tonnes of goods valued at Nu 2.26 million, which included three primary and three agro-processed products namely cordyceps, spices and turmeric. The United Arab Emirates imported only spices and cordyceps, worth Nu 0.9 million.
Other countries collectively imported smaller quantities of cordyceps worth Nu 50.91 million in 2024.
In total, Bhutan exported 21 different primary commodities—dominated by cordyceps—through 45 exporters to 13 countries. These exports generated Nu 99.24 million. Apart from cordyceps, other notable exports in terms of volume included Matsutake mushrooms, spices, shelled areca nuts, buckwheat, and hazelnuts.
Among 14 agro-processed products exported to markets outside India and Bangladesh, the top three were ground ginger, food preparations, and crushed pepper. These three products alone accounted for Nu 6.82 million in revenue, with 8.76 metric tonnes exported.
Despite these promising exports, Bhutan continues to face a trade imbalance. In 2024, Bhutan’s total exports to countries other than India stood at Nu 12,051 million, while imports amounted to Nu 19,861 million—resulting in a negative trade balance of Nu 7,810 million.