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Bolivia Economy




Bolivia    Economy Top of Page
Economy - overview: Bolivia, long one of the poorest and least developed Latin American countries, has made considerable progress toward the development of a market-oriented economy. Successes under President SANCHEZ DE LOZADA (1993-97) included the signing of a free trade agreement with Mexico and joining the Southern Cone Common Market (Mercosur), as well as the privatization of the state airline, telephone company, railroad, electric power company, and oil company. His successor, Hugo BANZER Suarez has tried to further improve the country's investment climate with an anticorruption campaign. Growth slowed in 1999, in part due to tight government budget policies, which limited needed appropriations for anti-poverty programs, and the fallout from the Asian financial crisis. In 2000, major civil disturbances in April, and again in September and October, held down overall growth to 2.5%.
GDP: purchasing power parity - $20.9 billion (2000 est.)
GDP - real growth rate: 2.5% (2000 est.)
GDP - per capita: purchasing power parity - $2,600 (2000 est.)
GDP - composition by sector: agriculture:  16%

industry:  31%

services:  53% (1999 est.)
Population below poverty line: 70% (1999 est.)
Household income or consumption by percentage share: lowest 10%:  2.3%

highest 10%:  31.7% (1990)
Inflation rate (consumer prices): 4.4% (2000 est.)
Labor force: 2.5 million
Labor force - by occupation: agriculture NA%, industry NA%, services NA%
Unemployment rate: 11.4% (1997)

note:  widespread underemployment
Budget: revenues:  $2.7 billion

expenditures:  $2.7 billion, including capital expenditures of $NA (1998)
Industries: mining, smelting, petroleum, food and beverages, tobacco, handicrafts, clothing
Industrial production growth rate: 4% (1995 est.)
Electricity - production: 3.625 billion kWh (1999)
Electricity - production by source: fossil fuel:  56.61%

hydro:  41.6%

nuclear:  0%

other:  1.79% (1999)
Electricity - consumption: 3.377 billion kWh (1999)
Electricity - exports: 4 million kWh (1999)
Electricity - imports: 10 million kWh (1999)
Agriculture - products: soybeans, coffee, coca, cotton, corn, sugarcane, rice, potatoes; timber
Exports: $1.26 billion (f.o.b., 2000 est.)
Exports - commodities: soybeans, natural gas, zinc, gold, wood
Exports - partners: UK 16%, US 12%, Peru 11%, Argentina 10%, Colombia 7% (1998)
Imports: $1.86 billion (f.o.b., 2000 est.)
Imports - commodities: capital goods, raw materials and semi-manufactures, chemicals, petroleum, food
Imports - partners: US 32%, Japan 24%, Brazil 12%, Argentina 12%, Chile 7%, Peru 4%, Germany 3%, other 6% (1998)
Debt - external: $6.6 billion (2000)
Economic aid - recipient: $588 million (1997)
Currency: boliviano (BOB)
Currency code: BOB
Exchange rates: bolivianos per US dollar - 6.4071 (January 2001), 6.1835 (2000), 5.8124 (1999), 5.5101 (1998), 5.2543 (1997), 5.0746 (1996)
Fiscal year: calendar year

 

Countryfacts Information Courtesy: CIA Worldbook







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