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Bolivia
| Economy Overview |
| Bolivia is one of the poorest and least developed countries in Latin America. 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, which was made the sole exporter of natural gas. The law also required that the state energy company regain control over the five companies that were privatized during the 1990s - a process that is still underway. In 2006, higher earnings for mining and hydrocarbons exports pushed the current account surplus to about 12% of GDP and the government's higher tax take produced a fiscal surplus after years of large deficits. Debt relief from the G8 - announced in 2005 - also has significantly reduced Bolivia's public sector debt burden. Private investment as a share of GDP, however, remains among the lowest in Latin America, and inflation reached double-digit levels in 2007. |
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| Economy Statistics |
| Exports: |
$4.259 billion f.o.b. (2007 est.) [?]
This entry provides the total US dollar amount of merchandise exports on an f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
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Export
Commodities: |
natural gas, soybeans and soy products, crude petroleum, zinc ore, tin [?]
This entry provides a rank ordering of exported products starting with the most important; it sometimes includes the percent of total dollar value.
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Export
Partners: |
Brazil 45.5%, US 10.8%, Argentina 9.2%, Colombia 6.8%, Japan 5.5%, South Korea 4.3% (2006) [?]
This entry provides a rank ordering of trading partners starting with the most important; it sometimes includes the percent of total dollar value.
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| Imports: |
$3.107 billion f.o.b. (2007 est.) [?]
This entry provides the total US dollar amount of merchandise imports on a c.i.f. (cost, insurance, and freight) or f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
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Import
Commodities: |
petroleum products, plastics, paper, aircraft and aircraft parts, prepared foods, automobiles, insecticides, soybeans [?]
This entry provides a rank ordering of imported products starting with the most important; it sometimes includes the percent of total dollar value.
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Import
Partners: |
Brazil 29.3%, Argentina 16%, Chile 12.1%, US 9.1%, Peru 8.1% (2006) [?]
This entry provides a rank ordering of trading partners starting with the most important; it sometimes includes the percent of total dollar value.
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| Bolivian Chamber of Commerce |
| Address: |
P.O. Box 7, Avenida Mariscal Santa Cruz 1392, 1st Floor
Edificio Cámara Nacional de Comercio
La Paz, Bolivia |
| Phone: |
591 2 237 8606 |
| Fax: |
591 2 239 1004 |
| Website: |
http://www.boliviacomercio.org.bo/ |
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