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 (1993-97) included the signing of a free trade agreement with Mexico and becoming an associate member of the Southern Cone Common Market (Mercosur), as well as the privatization of the state airline, telephone company, railroad, electric power company, and oil company. 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. In 2000, major civil disturbances in April, and again in September and October, held down overall growth to 2.5%. Bolivia's GDP failed to grow in 2001 due to the global slowdown and laggard domestic activity. Growth is expected to pick up in 2002, but the fiscal deficit and debt burden will remain high.
Agriculture Products
soybeans, coffee, coca, cotton, corn, sugarcane, rice, potatoes; timber
Industries
mining, smelting, petroleum, food and beverages, tobacco, handicrafts, clothing
Industrial Production Growth Rate
3.9% (1998) (1998)
Electricity production
3.87 billion kWh (2000)
Electricity production by source
Fossil fuel: 48%
Hydro: 50%
Other: 2% (2000)
Nuclear: 0%
Electricity Consumption
3.605 billion kWh (2000)
Electricity Exports
5 million kWh (2000)
Electricity Imports
11 million kWh (2000)
Unemployment Rate
Unemployment rate: 7.6% (2000)
Note: widespread underemployment (2000)
Population Below Poverty Line
70% (1999 est.)
Household Income or Consumption by Percentage Share
Lowest 10%: 1%
Highest 10%: 46% (1997) (1997)
Distribution of Family Income Gini Index
59 (1997)
Budget
Revenues: $4 billion
Expenditures: $4 billion, including capital expenditures of $NA (2002 est.)
Commercial Bank Prime Lending Rate
Market Value of Publicly Traded Shares
Reserves of Foreign Exchange and Gold
Debt External
$5.8 billion (2001 est.)
Stock of Direct Foreign Investment at Home
Stock of Direct Foreign Investment Abroad
Exchange Rates
bolivianos per US dollar - 6.8613 (January 2002), 6.6069 (2001), 6.1835 (2000), 5.8124 (1999), 5.5101 (1998), 5.2543 (1997)
