Economy Overview
Bolivia, long one of the poorest and least developed Latin American countries, made considerable progress in the 1990s 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 held down growth to 2.5%. Bolivia's GDP failed to grow in 2001 due to the global slowdown and laggard domestic activity. Growth picked up slightly in 2002, but the first quarter of 2003 saw extensive civil riots and looting and loss of confidence in the government. Bolivia will remain highly dependent on foreign aid unless and until it can develop its substantial natural resources.
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)
Labor Force
4.1 million (2003)
Electricity production
3.901 billion kWh (2001)
Electricity Consumption
3.634 billion kWh (2001)
Electricity Exports
3 million kWh (2001)
Electricity Imports
9 million kWh (2001)
Unemployment Rate
Unemployment rate: 11.7%
Note: widespread underemployment (2003)
Population Below Poverty Line
70% (1999 est.)
Household Income or Consumption by Percentage Share
Lowest 10%: 1.3%
Highest 10%: 32% (1999)
Distribution of Family Income Gini Index
44.7 (1999)
Budget
Revenues: $2.346 billion
Expenditures: $2.957 billion, including capital expenditures of $NA (2003)
Commercial Bank Prime Lending Rate
Market Value of Publicly Traded Shares
Reserves of Foreign Exchange and Gold
Debt External
$5.332 billion (2003 est.)
Stock of Direct Foreign Investment at Home
Stock of Direct Foreign Investment Abroad
Exchange Rates
bolivianos per US dollar - 7.6592 (2003), 7.17 (2002), 6.6069 (2001), 6.1835 (2000), 5.8124 (1999)
