Bolivia

Economics, Political, and Trade Overview

Source: Feb 10, 2022 Economist Intelligence Unit

Bolivia - In Short.

Overview of Bolivia

Bolivia, named after independence fighter Simon BOLIVAR, broke away from Spanish rule in 1825; much of its subsequent history has consisted of a series of coups and countercoups, with the last coup occurring in 1978. Democratic civilian rule was established in 1982, but leaders have faced difficult problems of deep-seated poverty, social unrest, and illegal drug production. In December 2005, Bolivians elected Movement Toward Socialism leader Evo MORALES president – by the widest margin of any leader since the restoration of civilian rule in 1982 – after he ran on a promise to change the country’s traditional political class and empower the nation’s poor, indigenous majority. In December 2009 and October 2014, President MORALES easily won reelection. His party maintained control of the legislative branch of the government, which has allowed him to continue his process of change. In February 2016, MORALES narrowly lost a referendum to approve a constitutional amendment that would have allowed him to compete in the 2019 presidential election. However, a 2017 Supreme Court ruling stating that term limits violate human rights provided the justification for MORALES to be chosen by his party to run again in 2019. MORALES attempted to claim victory in the 20 October 2019 election, but widespread allegations of electoral fraud, rising violence, and pressure from the military ultimately forced him to flee the country. An interim government, led by President Jeanine ANEZ Chavez, prepared new elections that took place on 18 October 2020.
Value
Country Full Name
Bolivia
Country Code
BOL
Region
Latin America & Caribbean
Income Group
Lower middle income
Currency Unit
GDP
36572764863
Population
11673029
Land Area
1083300
Net National Income Per Capita
2528.949101
GDP per Capita (PPP)
8275.491497

2020 GDP Growth Rate (Current USD)

2020 GDP Per Capita (Current USD)

2020 Urbanization Rate (%)

2020 Total Fertility Rate (Birth Per Woman)

Doing Business Score (100= Most Friendly)

Bolivia - Economic

Economy of Bolivia

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.Following an economic crisis during the early 1980s, reforms in the 1990s spurred private investment, stimulated economic growth, and cut poverty rates. 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 2005-06, the government passed hydrocarbon laws 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 laws engendered much public debate. High commodity prices between 2010 and 2014 sustained rapid growth and large trade surpluses with GDP growing 6.8% in 2013 and 5.4% in 2014. 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 – 4.9% in 2015 and 4.3% in 2016 – 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, President Evo MORALES expanded efforts to court international investment and boost Bolivia’s energy production capacity. MORALES passed an investment law and promised not to nationalize additional industries in an effort to improve the investment climate. In early 2016, the Government of Bolivia approved the 2016-2020 National Economic and Social Development Plan aimed at maintaining growth of 5% and reducing poverty.

Unemployment Rate

Inflation Rate

Bolivia - GDP Composition

GDP Composiiton & Value Added of Bolivia

Last Updated: Jan, 2021, Updated For 2020.

Bolivia - GDP, Value Added

Demographics of Bolivia

a high altitude plain in the west between two cordillera of the Andes, known as the Altiplano, is the focal area for most of the population; a dense settlement pattern is also found in and around the city of Santa Cruz, located on the eastern side of the Andes
Geographic Location

Central South America, southwest of Brazil

Races

Mestizo (mixed White and Amerindian ancestry) 68%, Indigenous 20%, White 5%, Cholo/Chola 2%, African descent 1%, other 1%, unspecified 3%; 44% of respondents indicated feeling part of some indigenous group, predominantly Quechua or Aymara (2009 est.)note: results among surveys vary based on the wording of the ethnicity question and the available response choices; the 2001 national census did not provide "Mestizo" as a response choice, resulting in a much higher proportion of respondents identifying themselves as belonging to one of the available indigenous ethnicity choices; the use of "Mestizo" and "Cholo" varies among response choices in surveys, with surveys using the terms interchangeably, providing one or the other as a response choice, or providing the two as separate response choices

Languages

Spanish (official) 60.7%, Quechua (official) 21.2%, Aymara (official) 14.6%, Guarani (official) 0.6%, other native languages 0.4%, foreign languages 2.4%, none 0.1%; note - Bolivia's 2009 constitution designates Spanish and all indigenous languages as official; 36 indigenous languages are specified, including a few that are extinct (2001 est.)major-language

Religion

Roman Catholic 70%, Evangelical 14.5%, Adventist 2.5%, Church of Jesus Christ 1.2%, agnostic 0.3%, atheist 0.8%, other 3.5%, none 6.6%, unspecified 0.6% (2018 est.)

Dependency & Expectancy of Bolivia

Last Updated: Jan, 2021

Dependency Ratio

Expectancy

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Bolivia - Social Media Briefing

Bolivia - Social Media & Social Commerce

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Politics & Policies of Bolivia

2021 Policies Overview

Updated Coming in March 2021 after our team finish summarizing countries policy.

International Organizations

CAN, CD, CELAC, FAO, G-77, IADB, IAEA, IBRD, ICAO, ICC (national committees), ICCt, ICRM, IDA, IFAD, IFC, IFRCS, ILO, IMF, IMO, Interpol, IOC, IOM, IPU, ISO (correspondent), ITSO, ITU, LAES, LAIA, Mercosur (associate), MIGA, MINUSTAH, MONUSCO, NAM, OAS, OPANAL, OPCW, PCA, UN, UN Security Council (temporary), UNAMID, UNASUR, UNCTAD, UNESCO, UNIDO, Union Latina, UNMIL, UNMISS, UNOCI, UNWTO, UPU, WCO, WFTU (NGOs), WHO, WIPO, WMO, WTO

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Export of Bolivia

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