Market research

Cheese and curd market in Bhutan

Release date: Mar 27, 2026

Submission: 15 minutes after payment

Research period: 2017-2025

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Earlier Report Observations

The cheese and curd market in Bhutan contracted significantly from 2018 to 2023, with volume falling from 11 819 tons to 6 039 tons. This decline was primarily driven by a sharp, sustained drop in domestic production, which more than offset fluctuations in import volumes. The market's peak in 2018 was followed by a downturn, with a particularly steep reduction in 2021 and a continued downward trend thereafter.

During this period, the Bhutanese authorities implemented an updated trade classification and tariff schedule in 2022, aligning with international standards to improve the accuracy of trade data. Official reports consistently highlighted limited domestic production capacity and a structural reliance on imported cheese and curd, factors that defined the market's composition even as total consumption shrank. Subsequent trade statistics through 2025 reaffirmed this classification framework and continued to note import dependence, with no major regulatory shifts or new large-scale production facilities reported to alter the market's trajectory.

Table of content

1. Disclaimer
2. Terms of use of the report
3. Product codes in the statistical classifications used in the report
4. Key Market Indicators and Trends
1. 4.1. Key Market Indicators
  1. 4.1.1. In kind
    1. 4.1.1.1. Production, 2018-2023
    2. 4.1.1.2. Imports, 2018-2025
    3. 4.1.1.3. Exports, 2018-2025
    4. 4.1.1.4. Market size, 2018-2023
2. 4.2. Market Trends and Factors
5. Production
1. 5.1. Production in Bhutan
  1. 5.1.1. Annual dynamics of production in Bhutan in kind, 2018-2023, t
  2. 5.1.2. Annual dynamics of production in Bhutan in value, 2018-2023, $ US
2. 5.2. Global production by Country, 2018-2023
  1. 5.2.1. Annual dynamics of production by macroregions in kind, 2018-2023, t
  2. 5.2.2. Dynamics of production structure by macroregions in kind, 2018-2023
  3. 5.2.3. Annual dynamics of production by country in kind, 2018-2023, t
  4. 5.2.4. Structure of production by countries in kind, 2018-2023
  5. 5.2.5. Dynamics of peoduction structure by countries in kind, 2018-2023
6. Imports
1. 6.1. Imports (Direct Data*)
  1. 6.1.1. Imports - Total information
  2. 6.1.2. Imports in kind, t
    1. 6.1.2.1. Annual dynamics of product's imports to Bhutan in kind, 2018-2025, t
    2. 6.1.2.2. Dynamics of product's imports in kind to Bhutan by countries, 2018-2025, t
    3. 6.1.2.3. Structure of product's imports in kind by countries, 2018-2025
  3. 6.1.3. Imports in value, K $ US
    1. 6.1.3.1. Annual dynamics of product's imports to Bhutan in value, 2018-2025, K $ US
    2. 6.1.3.2. Dynamics of product's imports in value to Bhutan by countries, 2018-2025, K $ US
    3. 6.1.3.3. Structure of product's imports in value by countries, 2018-2025
  4. 6.1.4. Average price of product's imports, $ US/kg
    1. 6.1.4.1. Annual dynamics of average price of product's imports to Bhutan, 2018-2025, $ US/kg
    2. 6.1.4.2. Dynamics of average price of product's imports to Bhutan by countries, 2018-2025, $ US/kg
2. 6.2. Imports (Mirror Data)
  1. 6.2.1. Imports - Total information
  2. 6.2.2. Imports in kind, t
    1. 6.2.2.1. Annual dynamics of product's imports to Bhutan in kind, 2018-2025, t
    2. 6.2.2.2. Dynamics of product's imports in kind to Bhutan by countries, 2018-2025, t
    3. 6.2.2.3. Structure of product's imports in kind by countries, 2018-2025
  3. 6.2.3. Imports in value, K $ US
    1. 6.2.3.1. Annual dynamics of product's imports to Bhutan in value, 2018-2025, K $ US
    2. 6.2.3.2. Dynamics of product's imports in value to Bhutan by countries, 2018-2025, K $ US
    3. 6.2.3.3. Structure of product's imports in value by countries, 2018-2025
  4. 6.2.4. Average price of product's imports, $ US/kg
    1. 6.2.4.1. Annual dynamics of average price of product's imports to Bhutan, 2018-2025, $ US/kg
    2. 6.2.4.2. Dynamics of average price of product's imports to Bhutan by countries, 2018-2025, $ US/kg
7. Exports
1. 7.1. Exports (Direct Data*)
  1. 7.1.1. Exports - Total information
  2. 7.1.2. Exports in kind, t
    1. 7.1.2.1. Annual dynamics of product's exports from Bhutan in kind, 2018-2025, t
    2. 7.1.2.2. Dynamics of product's exports in kind from Bhutan by countries, 2018-2025, t
    3. 7.1.2.3. Structure of product's exports in kind by countries, 2018-2025
  3. 7.1.3. Exports in value, K $ US
    1. 7.1.3.1. Annual dynamics of product's exports from Bhutan in value, 2018-2025, K $ US
    2. 7.1.3.2. Dynamics of product's exports in value from Bhutan by countries, 2018-2025, K $ US
    3. 7.1.3.3. Structure of product's exports in value by countries, 2018-2025
  4. 7.1.4. Average price of product's exports, $ US/kg
    1. 7.1.4.1. Annual dynamics of average price of product's exports from Bhutan, 2018-2025, $ US/kg
    2. 7.1.4.2. Dynamics of average price of product's exports from Bhutan by countries, 2018-2025, $ US/kg
2. 7.2. Exports (Mirror Data)
  1. 7.2.1. Exports - Total information
  2. 7.2.2. Exports in kind, t
    1. 7.2.2.1. Annual dynamics of product's exports from Bhutan in kind, 2018-2025, t
    2. 7.2.2.2. Dynamics of product's exports in kind from Bhutan by countries, 2018-2025, t
    3. 7.2.2.3. Structure of product's exports in kind by countries, 2018-2025
  3. 7.2.3. Exports in value, K $ US
    1. 7.2.3.1. Annual dynamics of product's exports from Bhutan in value, 2018-2025, K $ US
    2. 7.2.3.2. Dynamics of product's exports in value from Bhutan by countries, 2018-2025, K $ US
    3. 7.2.3.3. Structure of product's exports in value by countries, 2018-2025
  4. 7.2.4. Average price of product's exports, $ US/kg
    1. 7.2.4.1. Annual dynamics of average price of product's exports from Bhutan, 2018-2025, $ US/kg
    2. 7.2.4.2. Dynamics of average price of product's exports from Bhutan by countries, 2018-2025, $ US/kg
8. Trade balance
1. 8.1. Trade balance (Direct Data)
  1. 8.1.1. In kind, t
  2. 8.1.2. In value, K $ US
2. 8.2. Trade balance (Mirror Data)
  1. 8.2.1. In kind, t
  2. 8.2.2. In value, K $ US
9. Top buying and selling countries, 2018-2025
1. 9.1. Direct Data
  1. 9.1.1. Import in Value by Countries-buyers
  2. 9.1.2. Export in Value by Countries-suppliers
2. 9.2. Mirror Data
  1. 9.2.1. Import in Value by Countries-buyers
  2. 9.2.2. Export in Value by Countries-suppliers

Production cheese and curd in Bhutan

In kind, 2018-2021, t

Top producers of cheese and curd, 2018-2021

Source: SHEV.io

World map of production of cheese and curd, 2018-2021

Source: SHEV.io

Cheese and curd production in Bhutan saw two years of growth before declining. In 2021, production stood at 6 308 tonnes, marking a sharp 25.2% drop from 2020. Over the 2018-2021 period, overall production decreased by 20.2%, with a compound annual growth rate of 7.3%. The highest production level was recorded in 2020 at 8 438 tonnes, while the largest annual increase occurred in 2019 at 3.5%.

Annual dynamics of production in Bhutan in kind, 2018-2021, t

Parameter		2019	2020	2021	CAGR
1	Change from last year	3.5%	3.1%	(25.2%)	(7.3%)

Source: SHEV.io

Exports cheese and curd from Bhutan

Exports in kind, t

The export market showed significant instability during this period. Export volumes reached their lowest point in 2021 at 0.0 tonnes, representing a complete 100.0% decline from the previous year. The peak was recorded in 2020 at 29 tonnes, creating a dramatic 7 233-fold difference between these two years. The most substantial growth occurred in 2019 with a remarkable 1 418.3% increase.

Annual dynamics of product's exports from Bhutan in kind, 2018-2021, t

Parameter		2019	2020	2021	CAGR
1	Change from last year	1 418.3%	335.0%	(100.0%)	(79.1%)

Source: SHEV.io

From 2018 to 2021, Bhutan's cheese and curd exports were concentrated almost entirely on a single market. India accounted for 99.4% of all export volumes during this period.

Structure of product's exports in kind by countries, 2018-2021

Source: SHEV.io

World map of product's exports from Bhutan in kind, 2018-2021

Source: SHEV.io

Exports in value, K $ US

Export values demonstrated considerable volatility throughout these years. The market reached its lowest point in 2021 with exports valued at 0.0 thousand US dollars, representing a 100.0% decrease from the previous year. The peak occurred in 2020 at 106 thousand US dollars, creating a 2 229-fold difference between these two years. The most significant growth was recorded in 2020 with a 641.6% increase.

Annual dynamics of product's exports from Bhutan in value, 2018-2021, K $ US

Parameter		2019	2020	2021	CAGR
1	Change from last year	94.0%	641.6%	(100.0%)	(81.4%)

Source: SHEV.io

Between 2018 and 2021, India dominated Bhutan's cheese and curd exports in value terms, accounting for 96.6% of total export revenue.

Structure of product's exports in value by countries, 2018-2021

Source: SHEV.io

World map of product's exports from Bhutan in value, 2018-2021

Source: SHEV.io

Imports cheese and curd to Bhutan

Imports in kind, t

Import volumes showed notable fluctuations during the observed period. The market peaked in 2018 and reached its lowest point in 2021, with a 3.4-fold difference between these years. In 2021, Bhutan imported 1 139 tonnes of cheese and curd, representing a 22.9% decrease from the previous year. The most substantial decline occurred in 2019 at 68.3%, while the largest increase was recorded in 2020 at 19.3%.

Annual dynamics of product's imports to Bhutan in kind, 2018-2021, t

Parameter		2019	2020	2021	CAGR
1	Change from last year	(68.3%)	19.3%	(22.9%)	(33.7%)

Source: SHEV.io

Throughout the 2018-2021 period, India served as virtually the exclusive source for Bhutan's cheese and curd imports, supplying 99.9% of total import volumes.

Structure of product's imports in kind by countries, 2018-2021

Source: SHEV.io

World map of product's imports to Bhutan in kind, 2018-2021

Source: SHEV.io

Imports in value, K $ US

In 2021, Bhutan's cheese and curd imports were valued at 7 366 thousand US dollars, showing a modest 7.0% decrease from 2020. Over the 2018-2021 period, import values declined by 5.1%, with a compound annual growth rate of 1.7%. The lowest value was recorded in 2019 at 6 743 thousand US dollars, while the peak occurred in 2020 at 7 922 thousand US dollars. The most significant decline took place in 2019 at 13.1%, and the largest increase was in 2020 at 17.5%.

Annual dynamics of product's imports to Bhutan in value, 2018-2021, K $ US

Parameter		2019	2020	2021	CAGR
1	Change from last year	(13.1%)	17.5%	(7.0%)	(1.7%)

Source: SHEV.io

From 2018 to 2021, India was the predominant source for Bhutan's cheese and curd imports in value terms, accounting for 99.7% of total import spending.

Structure of product's imports in value by countries, 2018-2021

Source: SHEV.io

World map of product's imports to Bhutan in value, 2018-2021

Source: SHEV.io