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Bolivia Economy: from the All Country Info reference guide to country facts

Bolivia Economy

Bolivia Economy: A summary of information about Bolivia Economy, from government research data as well as independent research and other sources.

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Bolivia: Economy

Economy - overview
Bolivia, long one of the poorest and least
developed Latin American countries, has made considerable progress
toward the development of a market-oriented economy. Successes under
President SANCHEZ DE LOZADA (1993-1997) included the signing of a free
trade agreement with Mexico and the Southern Cone Common Market
(Mercosur) as well as the privatization of the state airline,
telephone company, railroad, electric power company, and oil company.
His successor, Hugo BANZER Suarez has tried to further improve the
country's investment climate with an anticorruption campaign. Growth
slowed in 1999, in part due to tight government budget policies, which
limited needed appropriations for anti-poverty programs, and the
fallout from the Asian financial crisis. Growth should rebound to
perhaps 4% in 2000 given reasonably favorable world commodity prices.
GDP
purchasing power parity - $24.2 billion (1999 est.)
GDP - real growth rate
2% (1999 est.)
GDP - per capita
purchasing power parity - $3,000 (1999 est.)
GDP - composition by sector
agriculture: 16.6%
industry: 35.5%
services: 47.9% (1998 est.)
Population below poverty line
70% (1999 est.)
Household income or consumption by percentage share
lowest 10%: 2.3%
highest 10%: 31.7% (1990)
Inflation rate (consumer prices)
2.1% (1999 est.)
Labor force
2.5 million
Labor force - by occupation
agriculture NA%, industry NA%, services
NA%
Unemployment rate
11.4% (1997) with widespread underemployment
Budget
revenues: $2.7 billion
expenditures: $2.7 billion including capital expenditures of $NA
(1998)
Industries
mining, smelting, petroleum, food and beverages, tobacco,
handicrafts, clothing
Industrial production growth rate
4% (1995 est.)
Electricity - production
2.576 billion kWh (1998)
Electricity - production by source
fossil fuel: 42.43%
hydro: 55.75%
nuclear: 0%
other: 1.82% (1998)
Electricity - consumption
2.412 billion kWh (1998)
Electricity - exports
4 million kWh (1998)
Electricity - imports
20 million kWh (1998)
Agriculture - products
soybeans, coffee, coca, cotton, corn,
sugarcane, rice, potatoes; timber
Exports
$1.1 billion (f.o.b., 1999 est.)
Exports - commodities
soybeans, natural gas, zinc, gold, wood
Exports - partners
UK 16%, US 12%, Peru 11%, Argentina 10%, Colombia
7% (1998)
Imports
$1.6 billion (c.i.f., 1999 est.)
Imports - commodities
capital goods, raw materials and
semi-manufactures, chemicals, petroleum, food
Imports - partners
US 32%, Japan 24%, Brazil 12%, Argentina 12%,
Chile 7%, Peru 4%, Germany 3% (1998)
Debt - external
$5.7 billion (1999)
Economic aid - recipient
$588 million (1997)
Currency
1 boliviano ($B) = 100 centavos
Exchange rates
bolivianos ($B) per US$1 - 6.0065 (January 2000),
5.8124 (1999), 5.5101 (1998), 5.2543 (1997), 5.0746 (1996), 4.8003
(1995)
Fiscal year
calendar year
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