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Bolivia Economy Profile 2013

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Economy - overviewBolivia 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)$56.14 billion (2012 est.)
$53.34 billion (2011 est.)
$50.72 billion (2010 est.)
note: data are in 2012 US dollars
GDP (official exchange rate)$27.43 billion (2012 est.)
GDP - real growth rate5.2% (2012 est.)
5.2% (2011 est.)
4.1% (2010 est.)
GDP - per capita (PPP)$5,200 (2012 est.)
$5,000 (2011 est.)
$4,900 (2010 est.)
note: data are in 2012 US dollars
Gross national saving25.3% of GDP (2012 est.)
28.4% of GDP (2011 est.)
21.5% of GDP (2010 est.)
GDP - composition, by end usehousehold consumption: 60.6%
government consumption: 13.7%
investment in fixed capital: 18.3%
investment in inventories: -1.5%
exports of goods and services: 46.9%
imports of goods and services: -38.1%
(2012 est.)
GDP - composition by sectoragriculture: 9.6%
industry: 38.3%
services: 52.1% (2012 est.)
Population below poverty line49.6%
note: based on percent of population living on less than the international standard of $2/day (2010 est.)
Labor force4.718 million (2012 est.)
Labor force - by occupationagriculture: 32%
industry: 20%
services: 48% (2010 est.)
Unemployment rate7.5% (2012 est.)
5.7% (2011 est.)
note: data are for urban areas; widespread underemployment
Unemployment, youth ages 15-24total: 9.2%
male: 7.3%
female: 11.8% (2002)
Household income or consumption by percentage sharelowest 10%: 1%
highest 10%: 45.4% (2007)
Distribution of family income - Gini index53 (2010)
57.9 (1999)
Investment (gross fixed)18.3% of GDP (2012 est.)
Budgetrevenues: $12.64 billion
expenditures: $12.17 billion (2012 est.)
Taxes and other revenues46.1% of GDP (2012 est.)
Budget surplus (+) or deficit (-)1.7% of GDP (2012 est.)
Public debt34.6% of GDP (2012 est.)
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
Inflation rate (consumer prices)4.5% (2012 est.)
9.9% (2011 est.)
Central bank discount rate4% (31 December 2011 est.)
3% (31 December 2010 est.)
Commercial bank prime lending rate11.14% (31 December 2012 est.)
10.92% (31 December 2011 est.)
Stock of narrow money$7.32 billion (31 December 2012 est.)
$6.13 billion (31 December 2011 est.)
Stock of broad money$17.13 billion (31 December 2011 est.)
$14.25 billion (31 December 2010 est.)
Stock of domestic credit$9.044 billion (31 December 2012 est.)
$7.633 billion (31 December 2011 est.)
Market value of publicly traded shares$7.69 billion (31 December 2012)
$6.089 billion (31 December 2011)
$3.915 billion (31 December 2010)
Agriculture - productssoybeans, coffee, coca, cotton, corn, sugarcane, rice, potatoes; Brazil nuts; timber
Industriesmining, smelting, petroleum, food and beverages, tobacco, handicrafts, clothing, jewelry
Industrial production growth rate5.2% (2012 est.)
Current Account Balance$271.8 million (2012 est.)
$537.2 million (2011 est.)
Exports$10.65 billion (2012 est.)
$8.332 billion (2011 est.)
Exports - commoditiesnatural gas, soybeans and soy products, crude petroleum, zinc ore, tin
Exports - partnersBrazil 40.3%, US 17.7%, Argentina 7.7%, Peru 5.3% (2012)
Imports$7.653 billion (2012 est.)
$7.126 billion (2011 est.)
Imports - commoditiespetroleum products, plastics, paper, aircraft and aircraft parts, prepared foods, automobiles, insecticides
Imports - partnersChile 20.8%, Brazil 19.9%, Argentina 11.7%, US 9.9%, Peru 7.1%, Venezuela 6%, China 4.8% (2012)
Reserves of foreign exchange and gold$13.93 billion (31 December 2012 est.)
$12.02 billion (31 December 2011 est.)
Debt - external$7.007 billion (31 December 2012 est.)
$6.474 billion (31 December 2011 est.)
Stock of direct foreign investment - at home$8.81 billion (31 December 2012)
$7.75 billion (31 December 2011)
Stock of direct foreign investment - abroad$8 million (31 December 2011)
$21 million (31 December 2010)
Exchange ratesbolivianos (BOB) per US dollar -
6.96 (2012 est.)
6.9875 (2011 est.)
7.0167 (2010 est.)
7.07 (2009)
7.253 (2008)
Fiscal yearcalendar year

Source: CIA World Factbook
Unless otherwise noted, information in this page is accurate as of February 21, 2013