Economy - overview:
Bolivia is a resource rich country with strong growth attributed to captive markets for natural gas exports to Brazil and Argentina. 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. High commodity prices between 2010 and 2014 sustained rapid growth and large trade surpluses. The global decline in oil prices that began in late 2014 exerted downward pressure on the price Bolivia receives for exported gas and resulted in lower GDP growth rates - declining from 4.9% in 2015 to 4.2% in 2017 - and losses in government revenue as well as fiscal and trade deficits.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. In 2015, in an attempt to improve the investment climate, President Evo MORALES expanded efforts to court international investment and boost Bolivia’s energy production capacity, passing an investment law and promising not to nationalize additional industries. In early 2016, the Government of Bolivia approved the 2016-20 National Economic and Social Development Plan aimed at maintaining growth of 5% and reducing poverty.
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): Gross national saving: GDP - composition, by end use: GDP - composition, by sector of origin: Agriculture - products: Industries: Industrial production growth rate: Labor force: Labor force - by occupation: Unemployment rate: Population below poverty line: Household income or consumption by percentage share: Distribution of family income - Gini index: Budget: Taxes and other revenues: Budget surplus (+) or deficit (-): Public debt: Fiscal year: Inflation rate (consumer prices): Central bank discount rate: Commercial bank prime lending rate: Stock of narrow money: Stock of broad money: Stock of domestic credit: Market value of publicly traded shares: Current account balance: Exports: Exports - commodities: Exports - partners: Imports: Imports - commodities: Imports - partners: Reserves of foreign exchange and gold: Debt - external: Stock of direct foreign investment - at home: Stock of direct foreign investment - abroad: Exchange rates:
$83.5 billion (2017 est.)
$80.14 billion (2016 est.)
$76.86 billion (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 93
$37.78 billion (2016 est.)
[see also: GDP (official exchange rate) country ranks ]
4.2% (2017 est.)
4.3% (2016 est.)
4.9% (2015 est.)
country comparison to the world: 59
[see also: GDP - real growth rate country ranks ]
$7,500 (2017 est.)
$7,400 (2016 est.)
$7,200 (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 155
15.6% of GDP (2017 est.)
15.1% of GDP (2016 est.)
14.2% of GDP (2015 est.)
country comparison to the world: 123
[see also: Gross national saving country ranks ]
household consumption: 69%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 17.6%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 20.3%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 0.5%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 24.2%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -31.6% (2017 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]
agriculture: 13%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 37.4%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 54.1% (2017 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]
soybeans, quinoa, Brazil nuts, sugarcane, coffee, corn, rice, potatoes, chia, coca
mining, smelting, petroleum, food and beverages, tobacco, handicrafts, clothing, jewelry
3.5% (2017 est.)
country comparison to the world: 81
[see also: Industrial production growth rate country ranks ]
5.07 million (2017 est.)
country comparison to the world: 83
[see also: Labor force country ranks ]
agriculture: 29.4%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 22%
[see also: Labor force - by occupation - industry country ranks ]
services: 48.6% (2015 est.)
[see also: Labor force - by occupation - services country ranks ]
4% (2017 est.)
4% (2016 est.)
note: data are for urban areas; widespread underemployment
country comparison to the world: 48
[see also: Unemployment rate country ranks ]
38.6%
note: based on percent of population living on less than the international standard of $2/day (2011 est.)
[see also: Population below poverty line country ranks ]
lowest 10%: 0.9%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 36.1% (2014 est.)
47 (2016 est.)
57.9 (1999)
country comparison to the world: 28
[see also: Distribution of family income - Gini index country ranks ]
revenues: $15.01 billion
[see also: Budget - revenues country ranks ]
expenditures: $17.35 billion (2017 est.)
[see also: Budget - expenditures country ranks ]
39.7% of GDP (2017 est.)
country comparison to the world: 36
[see also: Taxes and other revenues country ranks ]
-6.2% of GDP (2017 est.)
country comparison to the world: 179
[see also: Budget surplus (+) or deficit (-) country ranks ]
51.5% of GDP (2017 est.)
44.8% of GDP (2016 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
country comparison to the world: 99
[see also: Public debt country ranks ]
calendar year
3.2% (2017 est.)
3.6% (2016 est.)
country comparison to the world: 133
[see also: Inflation rate (consumer prices) country ranks ]
1.5% (31 December 2016 est.)
2.5% (31 December 2015 est.)
country comparison to the world: 120
[see also: Central bank discount rate country ranks ]
9.9% (31 December 2017 est.)
7.95% (31 December 2016 est.)
country comparison to the world: 85
[see also: Commercial bank prime lending rate country ranks ]
$10.41 billion (31 December 2017 est.)
$9.09 billion (31 December 2016 est.)
country comparison to the world: 84
[see also: Stock of narrow money country ranks ]
$17.08 billion (31 December 2017 est.)
$14.85 billion (31 December 2016 est.)
country comparison to the world: 93
[see also: Stock of broad money country ranks ]
$26.42 billion (31 December 2017 est.)
$22.39 billion (31 December 2016 est.)
country comparison to the world: 84
[see also: Stock of domestic credit country ranks ]
$12.3 billion (31 December 2016 est.)
$11.11 billion (31 December 2015 est.)
$9.833 billion (31 December 2014 est.)
country comparison to the world: 72
[see also: Market value of publicly traded shares country ranks ]
-$1.791 billion (2017 est.)
-$1.928 billion (2016 est.)
country comparison to the world: 153
[see also: Current account balance country ranks ]
$7.541 billion (2017 est.)
$7 billion (2016 est.)
country comparison to the world: 100
[see also: Exports country ranks ]
natural gas, silver, zinc, lead, tin, gold, quinoa, soybeans and soy products
Brazil 19.3%, US 13.6%, Argentina 11.4%, Colombia 8.8%, China 6.8%, Japan 5.9%, South Korea 5.4%, Peru 4.8%, Belgium 4.6% (2016)
$8.239 billion (2017 est.)
$7.888 billion (2016 est.)
country comparison to the world: 106
[see also: Imports country ranks ]
machinery, petroleum products, vehicles, iron and steel, plastics
China 19.9%, Brazil 17.5%, Argentina 10.5%, US 9.8%, Peru 6.9%, Japan 4.9%, Chile 4.1% (2016)
$8.287 billion (31 December 2017 est.)
$10.08 billion (31 December 2016 est.)
country comparison to the world: 78
[see also: Reserves of foreign exchange and gold country ranks ]
$14.81 billion (31 December 2017 est.)
$11.65 billion (31 December 2016 est.)
country comparison to the world: 103
[see also: Debt - external country ranks ]
$1.059 billion (31 December 2016 est.)
$1.084 billion (31 December 2015 est.)
country comparison to the world: 118
[see also: Stock of direct foreign investment - at home country ranks ]
$0 (31 December 2016 est.)
$0 (31 December 2015 est.)
country comparison to the world: 112
[see also: Stock of direct foreign investment - abroad country ranks ]
bolivianos (BOB) per US dollar -
6.91 (2017 est.)
6.91 (2016 est.)
6.91 (2015 est.)
6.91 (2014 est.)
6.91 (2013 est.)