Bhutan has recently made significantprogress in sustaining economic growth and reducing poverty.In 2012, average per capita household income was somewhatunder USD 2,400/year (Living Standards Measurement Surveys2012). Growth has averaged around 9 percent per annum overthe past decade and is expected to be on the order of 8percent per annum over the next five years. According to the2012 Bhutan Poverty Analysis, 12 percent of the populationare what is known asconsumption poor , half the number ascompared to 2007. Furthermore, extreme poverty defined asless than $1.25/day in PPP terms has fallen to only 2percent of the total population. Bhutan has virtuallyeliminated extreme poverty within the living memory of onegeneration. Bhutan s population remains rural to asignificant extent. According to a 2005 population census,69 percent of the population lived in rural areas. And thereremain significant income differences between urban andrural areas; average per capita household income in ruralareas is estimated to be 28,000 Nu against 80,000 Nu inurban areas. There is, though, significant ongoing migrationto population centers in search of increased opportunities.The 2005 urban population share of 31 percent of totalpopulation represents a substantial increase from only 5percent in 1995.
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