Page last updated on February 14, 2013
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. The global recession slowed growth, but Bolivia recorded the highest growth rate in South America during 2009. During 2010-12 high world commodity prices sustained rapid growth and large trade surpluses. However, a lack of foreign investment in the key sectors of mining and hydrocarbons, along with growing conflict among social groups pose challenges for the Bolivian economy.
GDP (purchasing power parity):
$54.36 billion (2012 est.)
country comparison to the world: 93
$51.77 billion (2011 est.)
$49.23 billion (2010 est.)
note:
data are in 2012 US dollars
[see also:
GDP country ranks ]
GDP (official exchange rate):
$26.75 billion (2012 est.)
[see also: GDP (official exchange rate) country ranks ]
GDP - real growth rate:
5% (2012 est.)
country comparison to the world: 58
5.2% (2011 est.)
4.1% (2010 est.)
[see also:
GDP - real growth rate country ranks ]
GDP - per capita:
$5,000 (2012 est.)
country comparison to the world: 156
$4,900 (2011 est.)
$4,700 (2010 est.)
note:
data are in 2012 US dollars
[see also:
GDP - per capita country ranks ]
GDP - composition by sector:
agriculture: 13.6%
[see also: GDP - composition by sector - agriculture country ranks ]
industry:
38.1%
services:
52% (2012 est.)
Labor force:
4.718 million (2012 est.)
country comparison to the world: 83
[see also: Labor force country ranks ]
Labor force - by occupation:
agriculture: 32%
[see also: Labor force - by occupation - agriculture country ranks ]
industry:
20%
services:
48% (2010 est.)
Unemployment rate:
7.5% (2012 est.)
country comparison to the world: 86
7.6% (2011 est.)
note:
data are for urban areas; widespread underemployment
[see also:
Unemployment rate country ranks ]
Population below poverty line:
51.3%
note:
based on percent of population living on less than the international standard of $2/day (2009 est.)
[see also: Population below poverty line country ranks ]
Household income or consumption by percentage share:
lowest 10%: 1%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%:
45.4% (2007)
Distribution of family income - Gini index:
58.2 (2009)
country comparison to the world: 8
57.9 (1999)
[see also:
Distribution of family income - Gini index country ranks ]
Investment (gross fixed):
21% of GDP (2012 est.)
country comparison to the world: 85
[see also: Investment (gross fixed) country ranks ]
Budget:
revenues: $12.94 billion
[see also: Budget revenues country ranks ]
expenditures:
$12.42 billion (2012 est.)
Taxes and other revenues:
48.4% of GDP (2012 est.)
country comparison to the world: 22
[see also: Taxes and other revenues country ranks ]
Budget surplus (+) or deficit (-):
2% of GDP (2012 est.)
country comparison to the world: 22
[see also: Budget surplus (+) or deficit (-) country ranks ]
Public debt:
34.2% of GDP (2011 est.)
country comparison to the world: 105
38.6% of GDP (2010 est.)
note:
data cover general government debt, and includes debt instruments issued by government entities other than the treasury; the data include treasury debt held by foreign entities; the data include debt issued by subnational entities
[see also:
Public debt country ranks ]
Inflation rate (consumer prices):
4.7% (2012 est.)
country comparison to the world: 136
9.9% (2011 est.)
[see also:
Inflation rate (consumer prices) country ranks ]
Central bank discount rate:
4% (31 December 2011 est.)
country comparison to the world: 102
3% (31 December 2010 est.)
[see also:
Central bank discount rate country ranks ]
Commercial bank prime lending rate:
11.1% (31 December 2012 est.)
country comparison to the world: 79
10.92% (31 December 2011 est.)
[see also:
Commercial bank prime lending rate country ranks ]
Stock of narrow money:
$6.263 billion (31 December 2012 est.)
country comparison to the world: 90
$5.329 billion (31 December 2011 est.)
[see also:
Stock of narrow money country ranks ]
Stock of broad money:
$16.52 billion (31 December 2011 est.)
country comparison to the world: 93
$13.33 billion (31 December 2010 est.)
[see also:
Stock of broad money country ranks ]
Stock of domestic credit:
$8.702 billion (31 December 2012 est.)
country comparison to the world: 105
$7.633 billion (31 December 2011 est.)
[see also:
Stock of domestic credit country ranks ]
Market value of publicly traded shares:
$6.089 billion (31 December 2011)
country comparison to the world: 88
$3.915 billion (31 December 2010)
$3.159 billion (31 December 2009)
[see also:
Market value of publicly traded shares country ranks ]
Agriculture - products:
soybeans, coffee, coca, cotton, corn, sugarcane, rice, potatoes; Brazil nuts; timber
Industries:
mining, smelting, petroleum, food and beverages, tobacco, handicrafts, clothing, jewelry
Industrial production growth rate:
3.6% (2010 est.)
country comparison to the world: 87
[see also: Industrial production growth rate country ranks ]
Current account balance:
$1.095 billion (2012 est.)
country comparison to the world: 42
$537.2 million (2011 est.)
[see also:
Current account balance country ranks ]
Exports:
$10.97 billion (2012 est.)
country comparison to the world: 91
$9.039 billion (2011 est.)
[see also:
Exports country ranks ]
Exports - commodities:
natural gas, soybeans and soy products, crude petroleum, zinc ore, tin
Exports - partners:
Brazil 41.8%, US 12.2%, South Korea 6.4%, Peru 5.7%, Argentina 5.2%, Japan 4.7% (2011)
Imports:
$8.14 billion (2012 est.)
country comparison to the world: 107
$7.126 billion (2011 est.)
[see also:
Imports country ranks ]
Imports - commodities:
petroleum products, plastics, paper, aircraft and aircraft parts, prepared foods, automobiles, insecticides
Imports - partners:
Chile 23.5%, Brazil 23%, Argentina 10.3%, US 10.1%, Peru 6.9%, China 5.8% (2011)
Reserves of foreign exchange and gold:
$13.62 billion (31 December 2012 est.)
country comparison to the world: 67
