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.
Agriculture Products
soybeans, coffee, coca, cotton, corn, sugarcane, rice, potatoes; Brazil nuts; timber
Industrial Production Growth Rate
3.6% (2010 est.)country comparison to the world: 87
Labor Force
4.718 million (2012 est.)country comparison to the world: 83
Unemployment Rate
7.5% (2012 est.)country comparison to the world: 86 7.6% (2011 est.) note: data are for urban areas; widespread underemployment
Population Below Poverty Line
51.3% note: based on percent of population living on less than the international standard of $2/day (2009 est.)
Household Income or Consumption by Percentage Share
Lowest 10%: 1%
Highest 10%: 45.4% (2007)
Distribution of Family Income Gini Index
58.2 (2009)country comparison to the world: 8 57.9 (1999)
Budget
Revenues: $12.94 billion
Expenditures: $12.42 billion (2012 est.)
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
Central Bank Discount Rate
4% (31 December 2011 est.)country comparison to the world: 102 3% (31 December 2010 est.)
Commercial Bank Prime Lending Rate
Stock of Narrow Money
$6.263 billion (31 December 2012 est.)country comparison to the world: 90 $5.329 billion (31 December 2011 est.)
Stock of Broad Money
$16.52 billion (31 December 2011 est.)country comparison to the world: 93 $13.33 billion (31 December 2010 est.)
Stock of Domestic Credit
$8.702 billion (31 December 2012 est.)country comparison to the world: 105 $7.633 billion (31 December 2011 est.)
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)
Reserves of Foreign Exchange and Gold
$13.62 billion (31 December 2012 est.)country comparison to the world: 67 $12.02 billion (31 December 2011 est.)
Debt External
$5.604 billion (31 December 2012 est.)country comparison to the world: 109 $5.451 billion (31 December 2011 est.)
Stock of Direct Foreign Investment at Home
$7.37 billion (31 December 2011)country comparison to the world: 86 $6.869 billion (31 December 2010)
Stock of Direct Foreign Investment Abroad
$21 million (31 December 2010)country comparison to the world: 88 $63.8 million (31 December 2008)
Exchange Rates
bolivianos (BOB) per US dollar -6.96 (2012 est.) 6.9875 (2011 est.) 7.0167 (2010 est.) 7.07 (2009) 7.253 (2008)
