Back اقتصاد بوليفيا Arabic Economía de Bolivia AST Эканоміка Балівіі Byelorussian Economia de Bolívia Catalan Economía de Bolivia Spanish Économie de la Bolivie French Economía de Bolivia Galician Բոլիվիայի տնտեսություն Armenian Ekonomio di Bolivia IO Economia della Bolivia Italian

Economy of Bolivia

Economy of Bolivia
La Paz, the financial centre of Bolivia
CurrencyBolivian Boliviano (BOB)
Calendar year
Trade organizations
WTO, CAN, UNASUR, Mercosur (candidate)
Country group
Statistics
PopulationIncrease 12,290,945 (2024)[3]
GDP
  • Increase $49.334 billion (nominal, 2024)[3]
  • Increase $131.422 billion (PPP, 2024)[3]
GDP rank
GDP growth
  • 4.2% (2018) 2.7% (2019e)
  • −5.9% (2020f) 2.2% (2021f)[4]
GDP per capita
  • Increase $4,014 (nominal, 2024)[3]
  • Increase $10,693 (PPP, 2024)[3]
GDP per capita rank
GDP by sector
3.1% (2020 est.)[3]
Population below poverty line
  • Positive decrease 36.4% (2021)[6]
  • Positive decrease 10.6% on less than $3.20/day (2018)[7]
Positive decrease 40.9 medium (2018)[8]
Labor force
  • Increase 5,423,333 (2019)[10]
  • Increase 69.3% employment rate (2018)[11]
Labor force by occupation
Unemployment
  • Steady 4% (2017 est.)[5]
  • note: data are for urban areas; widespread underemployment
Main industries
mining, smelting, petroleum, food and beverages, tobacco, handicrafts, clothing, jewelry
External
ExportsIncrease $9.060 billion (2018 est.)[12]
Export goods
natural gas, silver, zinc, lead, tin, gold, quinoa, soybeans and soy products
Main export partners
ImportsIncrease $9.996 billion (2019 est.)[12]
Import goods
machinery, petroleum products, vehicles, iron and steel, plastics
Main import partners
FDI stock
  • Increase $12.31 billion (31 December 2017 est.)[5]
  • Steady Abroad: $0 (31 December 2017 est.)[5]
Decrease −$2.375 billion (2017 est.)[5]
Negative increase $12.81 billion (31 December 2017 est.)[5]
Public finances
Positive decrease 24.5% of GDP (2019 est.)[5] [note 1]
−7.8% (of GDP) (2017 est.)[5]
Revenues15.09 billion (2017 est.)[5]
Expenses18.02 billion (2017 est.)[5]
Economic aidrecipient: $726 million (2009 est.)[13]
B+ (Domestic)
B+ (Foreign)
B+ (T&C Assessment)
(Standard & Poor's)[14]
Increase $10.26 billion (31 December 2017 est.)[5]
All values, unless otherwise stated, are in US dollars.

The economy of Bolivia is the 95th-largest in the world in nominal terms and the 87th-largest in purchasing power parity. Bolivia is classified by the World Bank to be a lower middle income country.[15] With a Human Development Index of 0.703, it is ranked 114th (high human development).[16] Driven largely by its natural resources, Bolivia has become a region leader in measures of economic growth, fiscal stability and foreign reserves,[17] although it remains a historically poor country. The Bolivian economy has had a historic single-commodity focus.[18] From silver to tin to coca, Bolivia has enjoyed only occasional periods of economic diversification.[18] Political instability and difficult topography have constrained efforts to modernize the agricultural sector.[18] Similarly, relatively low population growth coupled with low life expectancy has kept the labor supply in flux and prevented industries from flourishing.[18] Rampant inflation and corruption previously created development challenges,[18] but in the early twenty-first century the fundamentals of its economy showed unexpected improvement, leading Moody's Investors Service to upgrade Bolivia's economic rating in 2010 from B2 to B1.[19] The mining industry, especially the extraction of natural gas and zinc, currently dominates Bolivia's export economy.[18]

Between 2006 and 2019 (term of the presidency of the democratic socialist Evo Morales), GDP per capita doubled and the extreme poverty rate declined from 38% to 18%.[20] The poverty rate declined from 22.23% in 2000 to 12.38% in 2010.[21] Moreover, the Gini coefficient declined from 0.60 to 0.446.[22] According to the Bolivian Institute of Foreign Trade, Bolivia had the lowest accumulated inflation of Latin America by October 2021.[23][24][25]

  1. ^ "World Economic Outlook Database, April 2019". IMF.org. International Monetary Fund. Retrieved 29 September 2019.
  2. ^ "World Bank Country and Lending Groups". World Bank. Retrieved 29 September 2019.
  3. ^ a b c d e f "Report for Selected Countries and Subjects: April 2024". imf.org. International Monetary Fund.
  4. ^ "Global Economic Prospects, June 2020". openknowledge.worldbank.org. World Bank: 86. 8 June 2020. Retrieved 16 June 2020.
  5. ^ a b c d e f g h i j k l m n "Bolivia". The World Factbook. Central Intelligence Agency. Retrieved 5 January 2019.
  6. ^ "Poverty headcount ratio at national poverty lines (% of population) - Bolivia". data.worldbank.org. World Bank. Retrieved 21 March 2020.
  7. ^ "Poverty headcount ratio at $3.20 a day (2011 PPP) (% of population) – Bolivia". World Bank. Retrieved 21 March 2020.
  8. ^ "GINI index (World Bank estimate)". World Bank. Retrieved 21 March 2020.
  9. ^ a b "Human Development Report 2023/2024" (PDF). United Nations Development Programme. 13 March 2024. Archived (PDF) from the original on 13 March 2024. Retrieved 31 May 2024.
  10. ^ "Labor force, total – Bolivia". World Bank. Retrieved 14 October 2019.
  11. ^ "Employment to population ratio, 15+, total (%) (national estimate) – Bolivia". World Bank. Retrieved 23 November 2019.
  12. ^ a b "Instituto de Comercio Exterior – Bolivia"https://ibce.org.bo/publicaciones-ibcecifras-pdf.php?id=705 Archived 1 February 2019 at the Wayback Machine
  13. ^ "Aid Statistics Bolivia". Organisation for Economic Co-operation and Development. Retrieved 4 February 2012.
  14. ^ "Sovereigns rating list". Standard & Poor's. Retrieved 4 February 2012.
  15. ^ "Bolivia Overview". Archived from the original on 16 June 2010. Retrieved 4 April 2013.
  16. ^ "Human Development Indices and Indicators: 2018 Statistical update". hdr.undp.org. United Nations Development Programme. Archived from the original on 18 November 2018. Retrieved 15 October 2019.
  17. ^ Gustafson, Bret (2020). Bolivia in the Age of Gas. Duke University Press. p. 10. ISBN 978-1-4780-1099-9.
  18. ^ a b c d e f "Country Profile: Bolivia" (PDF). Federal Research Division, Library of Congress. January 2006. Retrieved 5 November 2020. Public Domain This article incorporates text from this source, which is in the public domain.{{cite web}}: CS1 maint: postscript (link)
  19. ^ "Moody's upgrades Bolivia credit rating to B1". Reuters. 2 December 2010. Archived from the original on 24 September 2015. Retrieved 1 July 2017.
  20. ^ patrick. "Evo Morales en route pour un troisième mandat – Investig'Action". investigaction.net.
  21. ^ "Taux de pauvreté Bolivie | Sciences Po Observatoire politique de l'Amérique latine et des Caraïbes". 19 September 2020.
  22. ^ "NOTICIAS - Prensa Latina".
  23. ^ "Bolivia Has The Lowest Inflation in Latin America". Kawsachun News. 2 December 2021. Retrieved 28 June 2022.
  24. ^ "IMF recognizes Bolivia's strength in the face of Inflation - Prensa Latina". 26 May 2022. Retrieved 27 September 2022.[permanent dead link]
  25. ^ "Boletín IBCE Cifras: Inflación en Bolivia". ibce.org.bo. Retrieved 26 October 2022.


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