About Bolivia and Key Financial Statistics









About Bolivia and Key Financial Statistics



Overview of Economy:

Bolivia is a resource rich country with strong growth attributed to captive markets for natural gas exports – to Brazil and Argentina. Gas accounts for roughly 50% of Bolivia's total exports and will fund more than half of its 2015 budget. However, the country remains one of the least developed countries in Latin America because of state-oriented policies that deter investment and growth. 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 and has averaged 5.3% growth each year since 2009. High commodity prices since 2010 sustained rapid growth and large trade surpluses. However, a lack of foreign investment in the key sectors of mining and hydrocarbons, along with conflict among social groups pose challenges for the Bolivian economy. President Evo MORALES passed an investment law and promised not to nationalize additional industries in an effort to improve Bolivia's investment climate. The global decline in oil prices in late 2014 exerted downward pressure on the price Bolivia receives for exported gas and may result in lower GDP growth rates and losses in government revenue in 2015.



Gross Domestic Product (In USD):


$70.28 billion (2014 est.)
$66.64 billion (2013 est.)
$62.4 billion (2012 est.)



Composition of Gross Domestic Product:


% Agricuture: 13.2

% Industry: 38.7

% Services: 48


Composition of Labor Force by Occupation:

% Agriculture: 32

% Industry: 20

% Services: 47.9


Per Capita Income:

$6,200 (2014 est.)
$5,900 (2013 est.)
$5,500 (2012 est.)



Exports:

$12.15 billion (2014 est.)
$11.54 billion (2013 est.)



Key Export Commodities:

natural gas, mineral ores, gold, soybeans and soy products, tin



Export Partners:

Brazil 29.8%, Argentina 19.7%, US 15.6%, Colombia 5.3%, Peru 4.1% (2014)


Imports:

$9.935 billion (2014 est.)
$8.729 billion (2013 est.)



Key Import Commodities:

machinery, petroleum products, vehicles, iron and steel, plastics



Import Partners:

China 17.2%, Brazil 15.8%, US 11.7%, Argentina 10.9%, Peru 6.2%, Japan 4.9%, Chile 4.1% (2014)


Inflation Rate (Consumer Price Index):


5.8% (2014 est.)
5.7% (2013 est.)




Exchange Rate to USD:


bolivianos (BOB) per US dollar -
6.91 (2014 est.)
6.91 (2013 est.)
6.94 (2012 est.)
6.9875 (2011 est.)
7.0167 (2010 est.)



Unemployment Rate:

7.3% (2014 est.)
7.4% (2013 est.)


S&P Rating:



Standard & Poor's Ratings:

  • AAA: The best quality borrowers, reliable and stable
  • AA: Quality borrowers, a bit higher risk than AAA
  • A: Economic situation can affect finance
  • BBB: Medium class borrowers, which are satisfactory at the moment
  • BB: More prone to changes in the economy
  • B: Financial situation varies noticeably
  • CCC: An obligor rated currently vulnerable, and is dependent upon favorable business, financial, and economic conditions to meet its financial commitments.






Ref 2012-2014: CIA World Factbook, Wikipedia, PWC, EY, Standard & Poors ratings