| Economy | Bolivia |
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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 in exchange for a predetermined service fee. After higher prices for mining and hydrocarbons exports produced a fiscal surplus in 2008, the global recession in 2009 slowed growth. A decline in commodity prices that began in late 2008, a lack of foreign investment in the mining and hydrocarbon sectors, a poor infrastructure, and the suspension of trade benefits with the United States will pose challenges for the Bolivian economy in 2010. |
GDP (purchasing power parity):
|
$45.13 billion (2009 est.)
$43.9 billion (2008 est.)
$41.37 billion (2007 est.)
note: data are in 2009 US dollars |
GDP - per capita (PPP):
|
$4,600 (2009 est.)
$4,600 (2008 est.)
$4,400 (2007 est.)
note: data are in 2009 US dollars |
GDP (official exchange rate):
|
$17.55 billion (2009 est.) |
GDP - real growth rate:
|
2.8% (2009 est.)
6.1% (2008 est.)
4.6% (2007 est.) |
GDP - composition by sector:
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agriculture: 11.3%
industry: 36.9%
services: 51.8% (2008 est.) |
Investment (gross fixed):
|
17.5% of GDP (2009 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%: 0.5%
highest 10%: 44.1% (2005) |
Distribution of family income - Gini index:
|
59.2 (2006)
44.7 (1999) |
Inflation rate (consumer prices):
|
4.3% (2009 est.)
14% (2008 est.) |
Central bank discount rate:
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13% (31 December 2008)
6.5% (31 December 2007) |
Commercial bank prime lending rate:
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13.87% (31 December 2008)
12.86% (31 December 2007) |
Stock of money:
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$3.998 billion (31 December 2008)
$3.032 billion (31 December 2007) |
Stock of money - per capita:
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409 USD per capita |
Stock of quasi money:
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$6.339 billion (31 December 2008)
$4.729 billion (31 December 2007) |
Stock of quasi money - per capita:
|
649 USD per capita |
Stock of domestic credit:
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$5.433 billion (31 December 2008)
$4.759 billion (31 December 2007) |
Stock of domestic credit - per capita:
|
556 USD per capita |
Labor force:
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4.536 million (2009 est.) |
Labor force participation rate:
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46.40 % of population |
Labor force - by occupation:
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agriculture: 40%
industry: 17%
services: 43% (2006 est.) |
Unemployment rate:
|
8.5% (2009 est.)
7.5% (2008 est.)
note: data are for urban areas; widespread underemployment |
Budget:
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revenues: $7.946 billion
expenditures: $8.319 billion (2009 est.) |
Budget revenues per capita:
|
813 USD per capita |
Public debt:
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44% of GDP (2009 est.)
45.2% of GDP (2008 est.) |
Industries:
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mining, smelting, petroleum, food and beverages, tobacco, handicrafts, clothing |
Industrial production growth rate:
|
0.8% (2009 est.) |
Electricity - production:
|
5.495 billion kWh (2007 est.) |
Electricity - production per capita:
|
563 kWh per capita |
Electricity - consumption:
|
4.665 billion kWh (2007 est.) |
Electricity - consumption - per capita:
|
478 kWh per capita |
Electricity - exports:
|
0 kWh (2008 est.) |
Electricity - imports:
|
0 kWh (2008 est.) |
Oil - production:
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51,360 bbl/day (2008 est.) |
Oil - production per capita:
|
5,255 bbl/day per capita |
Oil - consumption:
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60,000 bbl/day (2008 est.) |
Oil - consumption - per capita:
|
2.24 bbl/year per capita |
Oil - exports:
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10,950 bbl/day (2007 est.) |
Oil - imports:
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6,172 bbl/day (2007 est.) |
Oil - proved reserves:
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465 million bbl (1 January 2009 est.) |
Natural gas - production:
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14.2 billion cu m (2008 est.) |
Natural gas - production per capita:
|
1,453 cu m per capita |
Natural gas - consumption:
|
2.41 billion cu m (2008 est.) |
Natural gas - consumption - per capita:
|
247 cu m per capita |
Natural gas - exports:
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11.79 billion cu m (2008 est.) |
Natural gas - imports:
|
0 cu m (2008 est.) |
Natural gas - proved reserves:
|
750.4 billion cu m (1 January 2009 est.) |
Agriculture - products:
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soybeans, coffee, coca, cotton, corn, sugarcane, rice, potatoes; timber |
Current account balance:
|
$725 million (2009 est.)
$2.015 billion (2008 est.) |
Current account balance - per capita:
|
75 USD per capita |
Exports:
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$4.837 billion (2009 est.)
$6.448 billion (2008 est.) |
Exports per capita:
|
495 USD per capita |
Exports - commodities:
|
natural gas, soybeans and soy products, crude petroleum, zinc ore, tin |
Exports - partners:
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Brazil 60.1%, US 8.3%, Japan 4.1% (2008) |
Imports:
|
$4.166 billion (2009 est.)
$4.641 billion (2008 est.) |
Imports per capita:
|
427 USD per capita |
Imports - commodities:
|
petroleum products, plastics, paper, aircraft and aircraft parts, prepared foods, automobiles, insecticides, soybeans |
Imports - partners:
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Brazil 26.7%, Argentina 16.3%, US 10.5%, Chile 9.5%, Peru 7.1%, China 4.8% (2008) |
Reserves of foreign exchange and gold:
|
$8.317 billion (31 December 2009 est.)
$7.722 billion (31 December 2008 est.) |
Reserves of foreign exchange and gold - per capita:
|
851 USD per capita |
Debt - external:
|
$5.349 billion (31 December 2009 est.)
$5.931 billion (31 December 2008 est.) |
Debt - external - per capita:
|
548 USD per capita |
Stock of direct foreign investment - at home:
|
$NA (31 December 2009 est.)
$5.998 billion (31 December 2008) |
Stock of direct foreign investment - at home - per capita:
|
void |
Stock of direct foreign investment - abroad:
|
$NA; $NA (31 December 2009 est.)
$63.8 million (31 December 2008) |
Stock of direct foreign investment - abroad - per capita:
|
void |
Market value of publicly traded shares:
|
$NA (31 December 2008)
$2.263 billion (31 December 2007)
$2.223 billion (31 December 2006) |
Market value of publicly traded shares - per capita:
|
void |
Economic aid - donor:
|
void |
Economic aid - recipient:
|
$582.9 million |
Economic aid - recipient per capita:
|
60 USD per capita |
Currency (code):
|
boliviano (BOB) |
Exchange rates:
|
bolivianos (BOB) per US dollar - 7.0699 (2009), 7.253 (2008), 7.8616 (2007), 8.0159 (2006), 8.0661 (2005) |
Fiscal year:
|
calendar year |
|
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