Bolivia Economy 2018, CIA World Factbook
| GEOGRAPHIC NAMES | GEOLOGY | USA STATS | CHINA STATS | COUNTRY CODES | AIRPORTS | RELIGION | JOBS |

Bolivia Economy 2018

SOURCE: 2018 CIA WORLD FACTBOOK AND OTHER SOURCES











Bolivia Economy 2018
SOURCE: 2018 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on February 28, 2018

Economy - overview:
Bolivia is a resource rich country with strong growth attributed to captive markets for natural gas exports to Brazil and Argentina. 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. High commodity prices between 2010 and 2014 sustained rapid growth and large trade surpluses. The global decline in oil prices that began in late 2014 exerted downward pressure on the price Bolivia receives for exported gas and resulted in lower GDP growth rates - declining from 4.9% in 2015 to 4.2% in 2017 - and losses in government revenue as well as fiscal and trade deficits.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, in an attempt to improve the investment climate, President Evo MORALES expanded efforts to court international investment and boost Bolivia’s energy production capacity, passing an investment law and promising not to nationalize additional industries. In early 2016, the Government of Bolivia approved the 2016-20 National Economic and Social Development Plan aimed at maintaining growth of 5% and reducing poverty.

GDP (purchasing power parity):
$83.5 billion (2017 est.) $80.14 billion (2016 est.) $76.86 billion (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 93

GDP (official exchange rate):
$37.78 billion (2016 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
4.2% (2017 est.) 4.3% (2016 est.) 4.9% (2015 est.)
country comparison to the world: 59
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$7,500 (2017 est.) $7,400 (2016 est.) $7,200 (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 155

Gross national saving:
15.6% of GDP (2017 est.) 15.1% of GDP (2016 est.) 14.2% of GDP (2015 est.)
country comparison to the world: 123
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 69%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 17.6%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 20.3%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 0.5%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 24.2%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -31.6% (2017 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 13%
[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: 54.1% (2017 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% (2017 est.)
country comparison to the world: 81
[see also: Industrial production growth rate country ranks ]

Labor force:
5.07 million (2017 est.)
country comparison to the world: 83
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 29.4%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 22%
[see also: Labor force - by occupation - industry country ranks ]
services: 48.6% (2015 est.)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
4% (2017 est.) 4% (2016 est.)
note: data are for urban areas; widespread underemployment
country comparison to the world: 48
[see also: Unemployment rate country ranks ]

Population below poverty line:
38.6%
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%: 0.9%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 36.1% (2014 est.)

Distribution of family income - Gini index:
47 (2016 est.) 57.9 (1999)
country comparison to the world: 28
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $15.01 billion
[see also: Budget - revenues country ranks ]
expenditures: $17.35 billion (2017 est.)
[see also: Budget - expenditures country ranks ]

Taxes and other revenues:
39.7% of GDP (2017 est.)
country comparison to the world: 36
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-6.2% of GDP (2017 est.)
country comparison to the world: 179
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
51.5% of GDP (2017 est.) 44.8% of GDP (2016 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: 99
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
3.2% (2017 est.) 3.6% (2016 est.)
country comparison to the world: 133
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
1.5% (31 December 2016 est.) 2.5% (31 December 2015 est.)
country comparison to the world: 120
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
9.9% (31 December 2017 est.) 7.95% (31 December 2016 est.)
country comparison to the world: 85
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$10.41 billion (31 December 2017 est.) $9.09 billion (31 December 2016 est.)
country comparison to the world: 84
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$17.08 billion (31 December 2017 est.) $14.85 billion (31 December 2016 est.)
country comparison to the world: 93
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$26.42 billion (31 December 2017 est.) $22.39 billion (31 December 2016 est.)
country comparison to the world: 84
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$12.3 billion (31 December 2016 est.) $11.11 billion (31 December 2015 est.) $9.833 billion (31 December 2014 est.)
country comparison to the world: 72
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$1.791 billion (2017 est.) -$1.928 billion (2016 est.)
country comparison to the world: 153
[see also: Current account balance country ranks ]

Exports:
$7.541 billion (2017 est.) $7 billion (2016 est.)
country comparison to the world: 100
[see also: Exports country ranks ]

Exports - commodities:
natural gas, silver, zinc, lead, tin, gold, quinoa, soybeans and soy products

Exports - partners:
Brazil 19.3%, US 13.6%, Argentina 11.4%, Colombia 8.8%, China 6.8%, Japan 5.9%, South Korea 5.4%, Peru 4.8%, Belgium 4.6% (2016)

Imports:
$8.239 billion (2017 est.) $7.888 billion (2016 est.)
country comparison to the world: 106
[see also: Imports country ranks ]

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

Imports - partners:
China 19.9%, Brazil 17.5%, Argentina 10.5%, US 9.8%, Peru 6.9%, Japan 4.9%, Chile 4.1% (2016)

Reserves of foreign exchange and gold:
$8.287 billion (31 December 2017 est.) $10.08 billion (31 December 2016 est.)
country comparison to the world: 78
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$14.81 billion (31 December 2017 est.) $11.65 billion (31 December 2016 est.)
country comparison to the world: 103
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$1.059 billion (31 December 2016 est.) $1.084 billion (31 December 2015 est.)
country comparison to the world: 118
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$0 (31 December 2016 est.) $0 (31 December 2015 est.)
country comparison to the world: 112
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
bolivianos (BOB) per US dollar - 6.91 (2017 est.) 6.91 (2016 est.) 6.91 (2015 est.) 6.91 (2014 est.) 6.91 (2013 est.)


NOTE: 1) The information regarding Bolivia on this page is re-published from the 2018 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Bolivia Economy 2018 information contained here. All suggestions for corrections of any errors about Bolivia Economy 2018 should be addressed to the CIA.
2) The rank that you see is the CIA reported rank, which may habe the following issues:
  a) The assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
  b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order






This page was last modified 28-Feb-18
Copyright © 1995- , ITA all rights reserved.

    . Feedback