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Bolivia Economy 2017
https://theodora.com/wfbcurrent/bolivia/bolivia_economy.html
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES











Bolivia Economy 2017
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on January 12, 2017

Economy - overview:
Bolivia is a resource rich country with strong growth attributed to captive markets for natural gas exports – to Brazil and Argentina. Gas accounts for roughly 50% of Bolivia's total exports and will fund more than half of its 2015 budget. However, the country remains one of the least developed countries in Latin America because of state-oriented policies that deter investment and growth.Following a disastrous economic crisis during the early 1980s, reforms spurred private investment, stimulated economic growth, and cut poverty rates in the 1990s. The period 2003-05 was characterized by political instability, racial tensions, and violent protests against plans - subsequently abandoned - to export Bolivia's newly discovered natural gas reserves to large Northern Hemisphere markets. In 2005, the government passed a controversial hydrocarbons law that imposed significantly higher royalties and required foreign firms then operating under risk-sharing contracts to surrender all production to the state energy company in exchange for a predetermined service fee. The global recession slowed growth, but Bolivia recorded the highest growth rate in South America during 2009 and has averaged 5.3% growth each year since 2009. High commodity prices between 2010 and 2013 sustained rapid growth and large trade surpluses. The global decline in oil prices in late 2014 exerted downward pressure on the price Bolivia receives for exported gas and resulted in lower GDP growth rates and losses in government revenue in 2015.A lack of foreign investment in the key sectors of mining and hydrocarbons, along with conflict among social groups, pose challenges for the Bolivian economy. In 2015, President Evo MORALES expanded efforts to court international investment and boost Bolivia’s energy production capacity. MORALES passed an investment law and promised not to nationalize additional industries in an effort to improve the investment climate.

GDP (purchasing power parity):
$78.35 billion (2016 est.) $75.56 billion (2015 est.) $72.06 billion (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 94
[see also: GDP country ranks ]

GDP (official exchange rate):
$35.7 billion (2015 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
3.7% (2016 est.) 4.8% (2015 est.) 5.5% (2014 est.)
country comparison to the world: 66
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$7,200 (2016 est.) $7,000 (2015 est.) $6,800 (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 155
[see also: GDP - per capita country ranks ]

Gross national saving:
12.3% of GDP (2016 est.) 13.2% of GDP (2015 est.) 20.5% of GDP (2014 est.)
country comparison to the world: 142
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 69.3%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 18.2%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 20.4%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: -1.4%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 29%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -35.5% (2016 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 13.3%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 37.4%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 53.6% (2016 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

Agriculture - products:
soybeans, quinoa, Brazil nuts, sugarcane, coffee, corn, rice, potatoes, chia, coca

Industries:
mining, smelting, petroleum, food and beverages, tobacco, handicrafts, clothing, jewelry

Industrial production growth rate:
3.5% (2016 est.)
country comparison to the world: 64
[see also: Industrial production growth rate country ranks ]

Labor force:
4.993 million (2016 est.)
country comparison to the world: 83
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 32%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 20%
[see also: Labor force - by occupation - industry country ranks ]
services: 47.9% (2009 est.)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
7.5% (2016 est.) 7.4% (2015 est.)
note: data are for urban areas; widespread underemployment
country comparison to the world: 84
[see also: Unemployment rate country ranks ]

Population below poverty line:
45%
note: based on percent of population living on less than the international standard of $2/day (2011 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 0.8%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 33.6% (2012 est.)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
46.6 (2012) 57.9 (1999)
country comparison to the world: 31
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $15.44 billion
[see also: Budget revenues country ranks ]
expenditures: $17.66 billion (2016 est.)
[see also: Budget expenditures country ranks ]

Taxes and other revenues:
43.3% of GDP (2016 est.)
country comparison to the world: 25
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-6.2% of GDP (2016 est.)
country comparison to the world: 179
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
47% of GDP (2016 est.) 38.5% of GDP (2015 est.)
note: data cover general government debt, and includes debt instruments issued by government entities other than the treasury; the data include treasury debt held by foreign entities; the data include debt issued by subnational entities
country comparison to the world: 95
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
3.9% (2016 est.) 4.1% (2015 est.)
country comparison to the world: 160
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
4.5% (31 December 2013) 4% (31 december 2012)
country comparison to the world: 85
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
7.6% (31 December 2016 est.) 8.07% (31 December 2015 est.)
country comparison to the world: 111
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$9.572 billion (31 December 2016 est.) $8.946 billion (31 December 2015 est.)
country comparison to the world: 84
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$17.77 billion (31 December 2016 est.) $15.45 billion (31 December 2015 est.)
country comparison to the world: 94
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$22.68 billion (31 December 2016 est.) $18.9 billion (31 December 2015 est.)
country comparison to the world: 84
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$9.684 billion (31 December 2013) $7.689 billion (31 December 2012) $6.089 billion (31 December 2011)
country comparison to the world: 75
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$2.34 billion (2016 est.) -$1.923 billion (2015 est.)
country comparison to the world: 151
[see also: Current account balance country ranks ]

Exports:
$7.528 billion (2016 est.) $8.197 billion (2015 est.)
country comparison to the world: 97
[see also: Exports country ranks ]

Exports - commodities:
natural gas, mineral ores, gold, soybeans and soy products, tin

Exports - partners:
Brazil 28.1%, Argentina 16.9%, US 12.1%, Colombia 6.3%, China 5.3%, Japan 4.7%, South Korea 4.3% (2015)

Imports:
$8.981 billion (2016 est.) $9.069 billion (2015 est.)
country comparison to the world: 101
[see also: Imports country ranks ]

Imports - commodities:
machinery, petroleum products, vehicles, iron and steel, plastics

Imports - partners:
China 17.9%, Brazil 16.5%, Argentina 11.8%, US 10.6%, Peru 6.2%, Japan 5.2%, Chile 4.6% (2015)

Reserves of foreign exchange and gold:
$11 billion (31 December 2016 est.) $13.06 billion (31 December 2015 est.)
country comparison to the world: 71
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$11.83 billion (31 December 2016 est.) $9.035 billion (31 December 2015 est.)
country comparison to the world: 106
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$10.56 billion (31 December 2013) $8.809 billion (31 December 2012)
country comparison to the world: 93
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$0 (31 December 2013 est.) $0 (31 December 2012 est.)
country comparison to the world: 106
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
bolivianos (BOB) per US dollar - 6.91 (2016 est.) 6.91 (2015 est.) 6.91 (2014 est.) 6.91 (2013 est.) 6.94 (2012 est.)


NOTE: The information regarding Bolivia on this page is re-published from the 2017 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Bolivia Economy 2017 information contained here. All suggestions for corrections of any errors about Bolivia Economy 2017 should be addressed to the CIA.




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