Bolivia: Economic Outline

Economic Indicators

In 2010, Bolivia succeeded in showing robust economic growth estimated at 4%.

With the country being very rich in natural resources, Bolivia’s economy is driven by the export of raw materials, particularly minerals products and hydrocarbons. Bolivia has the second largest natural gas reserves in South America nad would like to become a world exporter of lithium. In 2005, government implemented a law on hydrocarbons, introducing strong royalties and obliging foreign companies to work with a national company.

In relation to the slowing down of the global economy, Bolivia is suffering from the drop in commodity prices, a high rate of inflation, a high foreign debt and a lack of investments. The government has tried to maintain the social balance by implementing a policy of redistribution of the income from exports.

Bolivia remains one of the poorest countries in Latin America, where 60% of the population lives below the threshold of poverty, where the wealth is unevenly distributed and where unemployment is significant. The country must also modernize its infrastructures.

Main Indicators	2009	2010	2011	2012 (e)	2013 (e)
GDP (billions USD)	17.46e	19.81e	23.88e	26.48	28.62
GDP (Constant Prices, Annual % Change)	3.4e	4.1	5.0e	4.5	4.5
GDP per Capita (USD)	1,708e	1,900	2,246	2,444	2,591
General Government Gross Debt (in % of GDP)	40.5	36.6	32.4	31.4	30.6
Inflation Rate (%)	3.3e	2.5	9.8e	4.8	4.3
Current Account (billions USD)	0.81	0.90	1.00e	1.04	1.19
Current Account (in % of GDP)	4.7	4.6	4.2	4.1	-

Source: IMF - World Economic Outlook Database - Last Available Data.

Note: (e) Estimated Data

Monetary Indicators	2008	2009	2010
Foreign Debt (million USD)	5,529	5,745	-
Boliviano (BOB) - Average Annual Exchange Rate For 1 USD	7.24	7.02	7.02

Source: World Bank - Last Available Data.

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Main Sectors of Industry

Breakdown of Economic Activity By Sector	Agriculture	Industry	Services
Employment By Sector (in % of Total Employment)	36.1	19.7	44.2
Value Added (in % of GDP)	13.7	36.1	50.3
Value Added (Annual % Change)	1.5	4.0	3.4