| People | Bolivia |
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Economy - overview:
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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. |
GDP (purchasing power parity):
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$39.78 billion (2007 est.) |
GDP (official exchange rate):
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$12.8 billion (2007 est.) |
GDP - real growth rate:
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4% (2007 est.) |
GDP - per capita (PPP):
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$4,400 (2007 est.) |
GDP - composition by sector:
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agriculture: 14.5%
industry: 30.5%
services: 55% (2006 est.) |
Investment (gross fixed):
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13.4% of GDP (2007 est.) |
Population below poverty line:
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60% (2006 est.) |
Household income or consumption by percentage share:
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lowest 10%: 0.3%
highest 10%: 47.2% (2002) |
Distribution of family income - Gini index:
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59.2 (2006) |
Inflation rate (consumer prices):
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12% (2007 est.) |
Labor force:
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4.793 million (2006 est.) |
Labor force participation rate:
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51.83 % of population |
Labor force - by occupation:
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agriculture: 40%
industry: 17%
services: 43% (2006 est.) |
Unemployment rate:
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8% in urban areas; widespread underemployment (2006) |
Budget:
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revenues: $4.1 billion
expenditures: $4 billion (2007 est.) |
Budget revenues per capita:
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444 USD per capita |
Public debt:
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46.2% of GDP (2007 est.) |
Industries:
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mining, smelting, petroleum, food and beverages, tobacco, handicrafts, clothing |
Industrial production growth rate:
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1.1% (2007 est.) |
Electricity - production:
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5.293 billion kWh (2006) |
Electricity - production per capita:
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573 kWh per capita |
Electricity - consumption:
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3.385 billion kWh (2006) |
Electricity - consumption - per capita:
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367 kWh per capita |
Electricity - exports:
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177,000 kWh (2005) |
Electricity - imports:
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18,000 kWh (2007) |
Oil - production:
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41,570 bbl/day (2007 est.) |
Oil - production per capita:
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4,496 bbl/day per capita |
Oil - consumption:
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31,500 bbl/day (2007 est.) |
Oil - consumption - per capita:
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1.24 bbl/year per capita |
Oil - exports:
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18,500 bbl/day (2007 est.) |
Oil - imports:
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8,600 bbl/day (2007 est.) |
Oil - proved reserves:
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440.5 million bbl (1 January 2006 est.) |
Natural gas - production:
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12.74 billion cu m (2006 est.) |
Natural gas - production per capita:
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1,378 cu m per capita |
Natural gas - consumption:
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1.486 billion cu m (2007 est.) |
Natural gas - consumption - per capita:
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161 cu m per capita |
Natural gas - exports:
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10.58 billion cu m (2006 est.) |
Natural gas - imports:
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0 cu m (2007 est.) |
Natural gas - proved reserves:
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651.8 billion cu m (1 January 2006 est.) |
Agriculture - products:
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soybeans, coffee, coca, cotton, corn, sugarcane, rice, potatoes; timber |
Current account balance:
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$1.325 billion (2007 est.) |
Current account balance - per capita:
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144 USD per capita |
Exports:
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$4.259 billion f.o.b. (2007 est.) |
Exports per capita:
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461 USD per capita |
Exports - commodities:
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natural gas, soybeans and soy products, crude petroleum, zinc ore, tin |
Exports - partners:
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Brazil 45.5%, US 10.8%, Argentina 9.2%, Colombia 6.8%, Japan 5.5%, South Korea 4.3% (2006) |
Imports:
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$3.107 billion f.o.b. (2007 est.) |
Imports per capita:
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336 USD per capita |
Imports - commodities:
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petroleum products, plastics, paper, aircraft and aircraft parts, prepared foods, automobiles, insecticides, soybeans |
Imports - partners:
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Brazil 29.3%, Argentina 16%, Chile 12.1%, US 9.1%, Peru 8.1% (2006) |
Reserves of foreign exchange and gold:
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$4.917 billion (31 October 2007) |
Reserves of foreign exchange and gold - per capita:
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532 USD per capita |
Debt - external:
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$3.8 billion (31 December 2007 est.) |
Debt - external - per capita:
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411 USD per capita |
Stock of direct foreign investment - at home:
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$6.88 billion (31 December 2004) |
Stock of direct foreign investment - abroad:
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$NA |
Market value of publicly traded shares:
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$2.2 billion (2005) |
Economic aid - donor:
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void |
Economic aid - recipient:
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$582.9 million (2005 est.) |
Economic aid - recipient per capita:
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64 USD per capita |
Currency (code):
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boliviano (BOB) |
Exchange rates:
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bolivianos per US dollar - 7.8616 (2007), 8.0159 (2006), 8.0661 (2005), 7.9363 (2004), 7.6592 (2003) |
Fiscal year:
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calendar year |
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