Though Bhutan's economy is one of the world's smallest, it has grown rapidly in recent years, by eight percent in 2005 and 14 percent in 2006. In 2007, Bhutan had the second-fastest-growing economy in the world, with an annual economic growth rate of 22.4 percent. This was mainly due to the commissioning of the gigantic Tala Hydroelectric Power Station. , Bhutan's per capita income was US$2,420.