The sales and exports of 16 major industries in Bhutan from January to September in 2024 have decreased as compared to the same period in 2023. According to the central bank, during the months of January till September this year, the 16 major industries generated Nu 15.3 billion (B), a decrease in the revenue by Nu 2B compared to the same period in 2023.
Till September this year, the 16 industries generated with Nu 8.1B from sales within Bhutan, followed by Nu 6.66B from exports to India, and Nu 475.80 million (M) from exports to countries other than India (COTI).
The data also revealed that exports to COTI decreased by Nu 249.97M compared to the previous year, indicating a decreasing demand for Bhutanese products in international markets.
According to the central bank’s latest report, in terms of sales within Bhutan, Lhaki Steels and Rolling Pvt. Ltd., Druk Wang Alloys Ltd., Penden Cement Authority Ltd., Bhutan Brewery Pvt. Ltd., and Tashi Beverages Limited are among the top performers. These industries have consistently generated significant revenue from sales within the country.
Similarly, in terms of exports to India, Bhutan Silicon Metal Pvt. Ltd., Druk Ferro Alloys Ltd., and Lhaki Steels and Rolling Pvt. Ltd. are among the top performers. These industries have consistently exported significant quantities of goods to India.
In terms of exports to COTI, Bhutan Ferro Alloys Ltd., Druk Wang Alloys Ltd., and Lhaki Steels & Rolling Pvt. Ltd. are among the top performers. These industries have consistently exported significant quantities of goods to countries other than India, according to the central bank.
Likewise, Bhutan Brewery Pvt. Ltd., one of the top performers among the 16 industries recorded the highest turnover of Nu 2.82B, a significant increase from the previous year. The company’s sales within Bhutan alone reached Nu 2.29B as of September this year.
On the other hand, Bhutan Polythene Company Ltd. and Saint Gobain Ceramic Materials Bhutan Pvt. Ltd. struggled to maintain their momentum, with turnovers of Nu 64.81M and Nu 98.47M respectively as of September this year.
Army Welfare Project Ltd., which has been a consistent performer in recent years, recorded a turnover of Nu 1.65B as of September 2024, up from Nu 1.40B in the same month of 2023, which was in turn an increase from Nu 821.13M in 2022.
Bhutan Ferro Alloys Ltd., another major player in the industry, recorded a turnover of Nu 2.41B, with sales within Bhutan reaching Nu 45.91M, and generated Nu 2.22B from the sales to India and Nu 147.27M from the sales to COTI.
The sale of products by the major industries includes cement, ferro alloys, silicon metal, and ceramic materials. The top five industries in terms of sales within Bhutan are Bhutan Brewery Pvt. Ltd., Lhaki Steels and Rolling Pvt. Ltd., Army Welfare Project Ltd., Penden Cement Authority Ltd, and Tashi Beverages Limited.
Similarly, the export product includes such as cement, ferro alloys, and silicon metal and ceramic materials. The top five industries in terms of exports to India are Bhutan Ferro Alloys Ltd., Druk Ferro Alloys Ltd., Bhutan Silicon Metal Pvt. Ltd., Druk Wang Alloys Ltd. and Bhutan Brewery Pvt. Ltd.
The products exported to COTI include ferro alloys and ceramic materials. The top three industries in terms of exports to COTI are Bhutan Ferro Alloys Ltd., Druk Wang Alloys Ltd., and Bhutan Board Products Ltd.
Meanwhile, the central bank noted that while certain companies, like Bhutan Brewery Pvt. Ltd. and Bhutan Ferro Alloys Ltd., have demonstrated resilience and growth, overall revenues indicate a need for strategies to revitalize demand, particularly in international markets.
By Sherab Dorji from Thimphu
