Bolivia - Economy
How is the economy of Bolivia? Based on the information we have, Bolivia has a resource-rich economy benefits during commodity booms; has bestowed juridical rights to Mother Earth, impacting extraction industries; increasing Chinese lithium mining trade relations; hard hit by COVID-19; increased fiscal spending amid poverty increases; rampant banking and finance corruption. Key agricultural products in this country include: sugarcane, soybeans, potatoes, maize, rice, sorghum, milk, chicken, plantains, wheat (2022).
More about the economy of Bolivia
| Labor force | 6.114 million (2023 est.) |
|---|---|
| Industrial production growth rate | 1% (2023 est.) |
| Industries | mining, smelting, electricity, petroleum, food and beverages, handicrafts, clothing, jewelry |
| Population below poverty line | 39% (2020 est.) |
| Taxes and other revenues | 39.9% (of GDP) (2017 est.) |
| Fiscal year | |
| Exchange rates | |
| Currency | bolivianos (BOB) per US dollar - |
| Exchange rates 2023 | 6.91 (2023 est.) |
| Exchange rates 2022 | 6.91 (2022 est.) |
| Exchange rates 2021 | 6.91 (2021 est.) |
| Exchange rates 2020 | 6.91 (2020 est.) |
| Exchange rates 2019 | 6.91 (2019 est.) |
| Debt - external | |
| Debt - external 2022 | $9.862 billion (2022 est.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2023 | $1.8 billion (2023 est.) |
| Reserves of foreign exchange and gold 2022 | $3.752 billion (2022 est.) |
| Reserves of foreign exchange and gold 2021 | $4.73 billion (2021 est.) |
| Current account balance | |
| Current account balance 2023 | -$1.247 billion (2023 est.) |
| Current account balance 2022 | $939.089 million (2022 est.) |
| Current account balance 2021 | $1.582 billion (2021 est.) |
| Public debt | |
| Public debt 2017 | 49% of GDP (2017 est.) |
| Budget | |
| Revenues | $11.796 billion (2019 est.) |
| Expenditures | $14.75 billion (2019 est.) |
| Budget surplus (+) or deficit (-) | |
| Remittances | |
| Remittances 2023 | 3.21% of GDP (2023 est.) |
| Remittances 2022 | 3.32% of GDP (2022 est.) |
| Remittances 2021 | 3.51% of GDP (2021 est.) |
| Household income | |
| Lowest 10% | 1.8% (2021 est.) |
| Highest 10% | 30.3% (2021 est.) |
| Average household expenditures | |
| On food | 29% of household expenditures (2022 est.) |
| On alcohol and tobacco | 2.1% of household expenditures (2022 est.) |
| Imports | |
| Imports 2023 | $13.13 billion (2023 est.) |
| Imports 2022 | $13.462 billion (2022 est.) |
| Imports 2021 | $10.187 billion (2021 est.) |
| Imports (partners) | Brazil 20%, China 19%, Chile 13%, Peru 9%, Argentina 6% (2022) |
| Comodities Imports force | refined petroleum, cars, pesticides, plastic products, trucks (2022) |
| Exports | |
| Imports 2023 | $13.13 billion (2023 est.) |
| Imports 2022 | $13.462 billion (2022 est.) |
| Imports 2021 | $10.187 billion (2021 est.) |
| Exports (partners) | India 16%, Brazil 14%, Argentina 13%, Colombia 8%, Japan 7% (2022) |
| Comodities Exports force | natural gas, gold, zinc ore, soybean meal, soybean oil (2022) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2023 | $119.785 billion (2023 est.) |
| Real GDP (purchasing power parity) 2022 | $116.927 billion (2022 est.) |
| Real GDP (purchasing power parity) 2021 | $112.858 billion (2021 est.) |
| GDP (official exchange rate) | $45.85 billion (2023 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2023 | $9,700 (2023 est.) |
| Real GDP per capita 2022 | $9,600 (2022 est.) |
| Real GDP per capita 2021 | $9,300 (2021 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 12.5% (2023 est.) |
| Industry | 24.8% (2023 est.) |
| Services | 51.3% (2023 est.) |
| GDP - composition, by end use | |
| Household consumption | 67.6% (2023 est.) |
| Government consumption | 19.3% (2023 est.) |
| Investment in fixed capital | 17.5% (2023 est.) |
| Investment in inventories | -0.9% (2022 est.) |
| Exports of goods and services | 27.3% (2023 est.) |
| Imports of goods and services | -31.6% (2023 est.) |
| Unemployment rate | |
| Unemployment rate 2023 | 3.08% (2023 est.) |
| Unemployment rate 2022 | 3.55% (2022 est.) |
| Unemployment rate 2021 | 5.09% (2021 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 5.3% (2023 est.) |
| Male | 4.5% (2023 est.) |
| Female | 6.3% (2023 est.) |
All Important Facts about Bolivia
Want to know more about Bolivia? Check all different factbooks for Bolivia below.
