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.

Following an economic crisis during the early 1980s, reforms in the 1990s spurred private investment, stimulated economic growth, and cut poverty rates. 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 2005-06, the government passed hydrocarbon laws 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 laws engendered much public debate. High commodity prices between 2010 and 2014 sustained rapid growth and large trade surpluses with GDP growing 6.8% in 2013 and 5.4% in 2014. 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 - 4.9% in 2015 and 4.3% in 2016 - 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, 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. In early 2016, the Government of Bolivia approved the 2016-2020 National Economic and Social Development Plan aimed at maintaining growth of 5% and reducing poverty.

GDP (purchasing power parity):
$83.72 billion (2017 est.)
$80.35 billion (2016 est.)
$77.07 billion (2015 est.)
note: data are in 2017 dollars
country comparison to the world (CIA rank, may be based on non-current data): 94
[see also: GDP country ranks ]

GDP (official exchange rate):
$37.78 billion (2017 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 (CIA rank, may be based on non-current data): 70
[see also: GDP - real growth rate country ranks ]

GDP - per capita (PPP):
$7,600 (2017 est.)
$7,400 (2016 est.)
$7,200 (2015 est.)
note: data are in 2017 dollars
country comparison to the world (CIA rank, may be based on non-current data): 154
[see also: GDP - per capita country ranks ]

Gross national saving:
15.7% of GDP (2017 est.)
15.3% of GDP (2016 est.)
14.2% of GDP (2015 est.)
country comparison to the world (CIA rank, may be based on non-current data): 132
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 67.7% (2017 est.)
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 17% (2017 est.)
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 21.3% (2017 est.)
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 3.8% (2017 est.)
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 21.7% (2017 est.)
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -31.3% (2017 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 13.8% (2017 est.)
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 37.8% (2017 est.)
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 48.2% (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, electricity, petroleum, food and beverages, handicrafts, clothing, jewelry

Industrial production growth rate:
2.2% (2017 est.)
country comparison to the world (CIA rank, may be based on non-current data): 123
[see also: Industrial production growth rate country ranks ]

Labor force:
5.719 million (2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 73
[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 (CIA rank, may be based on non-current data): 49
[see also: Unemployment rate country ranks ]

Population below poverty line:
38.6% (2015 est.)
note: based on percent of population living on less than the international standard of $2/day
[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.)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
47 (2016 est.)
57.9 (1999)
country comparison to the world (CIA rank, may be based on non-current data): 28
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: 15.09 billion (2017 est.)
[see also: Budget - revenues country ranks ]
expenditures: 18.02 billion (2017 est.)
[see also: Budget - expenditures country ranks ]

Taxes and other revenues:
39.9% (of GDP) (2017 est.)
country comparison to the world (CIA rank, may be based on non-current data): 39
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-7.8% (of GDP) (2017 est.)
country comparison to the world (CIA rank, may be based on non-current data): 196
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
49% of GDP (2017 est.)
44.9% 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 (CIA rank, may be based on non-current data): 104
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
2.8% (2017 est.)
3.6% (2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 127
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
2.5% (31 December 2017 est.)
2.5% (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 114
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
8.11% (31 December 2017 est.)
7.95% (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 106
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$9.616 billion (31 December 2017 est.)
$9.09 billion (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 82
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$9.616 billion (31 December 2017 est.)
$9.09 billion (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 84
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$25.61 billion (31 December 2017 est.)
$22.39 billion (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 85
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$12.8 billion (31 December 2017 est.)
$12.3 billion (31 December 2016 est.)
$11.11 billion (31 December 2015 est.)
country comparison to the world (CIA rank, may be based on non-current data): 70
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$2.375 billion (2017 est.)
-$1.932 billion (2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 171
[see also: Current account balance country ranks ]

Exports:
$7.746 billion (2017 est.)
$7.214 billion (2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 97
[see also: Exports country ranks ]

Exports - partners:
Brazil 17.9%, Argentina 16%, US 7.8%, Japan 7.3%, India 6.6%, South Korea 6.3%, Colombia 5.8%, China 5.1%, UAE 4.7% (2017)

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

Imports:
$8.601 billion (2017 est.)
$7.888 billion (2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 107
[see also: Imports country ranks ]

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

Imports - partners:
China 21.7%, Brazil 16.8%, Argentina 12.6%, US 8.4%, Peru 6.5% (2017)

Reserves of foreign exchange and gold:
$10.26 billion (31 December 2017 est.)
$10.08 billion (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 74
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$12.81 billion (31 December 2017 est.)
$7.268 billion (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 106
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$12.31 billion (31 December 2017 est.)
$11.6 billion (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 93
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$0 (31 December 2017 est.)
$0 (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 120
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
bolivianos (BOB) per US dollar -
6.86 (2017 est.)
6.86 (2016 est.)
6.91 (2015 est.)
6.91 (2014 est.)
6.91 (2013 est.)