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
Industries
mining, smelting, petroleum, food and beverages, tobacco, handicrafts, clothing, jewelry
Industrial Production Growth Rate
5.2% (2012 est.)country comparison to the world: 51
Labor Force
4.724 million (2012 est.)country comparison to the world: 82
Unemployment Rate
7.5% (2012 est.)country comparison to the world: 83 7.6% (2011 est.) note: data are for urban areas, widespread underemployment
Population Below Poverty Line
49.6% note: based on percent of population living on less than the international standard of $2/day (2010 est.)
Household Income or Consumption by Percentage Share
Lowest 10%: 1%
Highest 10%: 45.4% (2007)
Distribution of Family Income Gini Index
53 (2010)country comparison to the world: 14 57.9 (1999)
Budget
Revenues: $12.64 billion
Expenditures: $12.17 billion (2012 est.)
Public Debt
34% of GDP (2012 est.)country comparison to the world: 108 36.5% of GDP (2011 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: 103 3% (31 December 2010 est.)
Commercial Bank Prime Lending Rate
Stock of Narrow Money
$7.32 billion (31 December 2012 est.)country comparison to the world: 88 $6.13 billion (31 December 2011 est.)
Stock of Broad Money
$17.13 billion (31 December 2011 est.)country comparison to the world: 91 $14.25 billion (31 December 2010 est.)
Stock of Domestic Credit
$9.044 billion (31 December 2012 est.)country comparison to the world: 101 $7.633 billion (31 December 2011 est.)
Market Value of Publicly Traded Shares
$7.69 billion (31 December 2012)country comparison to the world: 81 $6.089 billion (31 December 2011) $3.915 billion (31 December 2010)
Reserves of Foreign Exchange and Gold
$13.93 billion (31 December 2012 est.)country comparison to the world: 68 $12.02 billion (31 December 2011 est.)
Debt External
$6.89 billion (31 December 2012 est.)country comparison to the world: 109 $6.474 billion (31 December 2011 est.)
Stock of Direct Foreign Investment at Home
$8.81 billion (31 December 2012)country comparison to the world: 84 $7.75 billion (31 December 2011)
Stock of Direct Foreign Investment Abroad
$8 million (31 December 2011)country comparison to the world: 97 $21 million (31 December 2010)
Exchange Rates
bolivianos (BOB) per US dollar -6.96 (2012 est.) 6.99 (2011 est.) 7.02 (2010 est.) 7.07 (2009) 7.25 (2008)
