Economy - overview:
Bolivia, long one of the poorest and least developed Latin American
countries, made considerable progress in the 1990s toward the
development of a market-oriented economy. Successes under President
SANCHEZ DE LOZADA (1993-97) included the signing of a free trade
agreement with Mexico and becoming an associate member of the
Southern Cone Common Market (Mercosur), as well as the privatization
of the state airline, telephone company, railroad, electric power
company, and oil company. Growth slowed in 1999, in part due to
tight government budget policies, which limited needed
appropriations for anti-poverty programs, and the fallout from the
Asian financial crisis. In 2000, major civil disturbances held down
growth to 2.5%. Bolivia's GDP failed to grow in 2001 due to the
global slowdown and laggard domestic activity. Growth picked up
slightly in 2002, but the first quarter of 2003 saw extensive civil
riots and looting and loss of confidence in the government. Bolivia
will remain highly dependent on foreign aid unless and until it can
develop its substantial natural resources.
GDP:
purchasing power parity - $21.15 billion (2002 est.)
GDP - real growth rate:
2.8% (2002 est.)
GDP - per capita:
purchasing power parity - $2,500 (2002 est.)
GDP - composition by sector:
agriculture: 20%
industry: 20%
services: 60% (2002 est.)
Population below poverty line:
70% (1999 est.)
Household income or consumption by percentage share:
lowest 10%: 1.3%
highest 10%: 32% (1999)
Distribution of family income - Gini index:
58.9 (1997)
Inflation rate (consumer prices):
2% (2001 est.)
Labor force:
2.5 million
Labor force - by occupation:
agriculture NA%, industry NA%, services NA%
Unemployment rate:
7.6%
note: widespread underemployment (2000)
Budget:
revenues: $4 billion
expenditures: $4 billion, including capital expenditures of $NA
(2002 est.)
Industries:
mining, smelting, petroleum, food and beverages, tobacco,
handicrafts, clothing
Industrial production growth rate:
3.9% (1998)
Electricity - production:
3.901 billion kWh (2001)
Electricity - production by source:
fossil fuel: 44.4%
hydro: 54%
other: 1.5% (2001)
nuclear: 0%
Electricity - consumption:
3.634 billion kWh (2001)
Electricity - exports:
3 million kWh (2001)
Electricity - imports:
9 million kWh (2001)
Oil - production:
44,340 bbl/day (2001 est.)
Oil - consumption:
49,000 bbl/day (2001 est.)
Oil - exports:
NA (2001)
Oil - imports:
NA (2001)
Oil - proved reserves:
458.8 million bbl (37257)
Natural gas - production:
4.05 billion cu m (2001 est.)
Natural gas - consumption:
1.15 billion cu m (2001 est.)
Natural gas - exports:
2.9 billion cu m (2001 est.)
Natural gas - imports:
0 cu m (2001 est.)
Natural gas - proved reserves:
727.2 billion cu m (37257)
Agriculture - products:
soybeans, coffee, coca, cotton, corn, sugarcane, rice, potatoes;
timber
Exports:
$1.3 billion f.o.b. (2002 est.)
Exports - commodities:
soybeans, natural gas, zinc, gold, wood (2000)
Exports - partners:
Brazil 24.3%, Switzerland 15.7%, US 14.1%, Venezuela 12.8%,
Colombia 10.2%, Peru 5.4% (2002)
Imports:
$1.6 billion f.o.b. (2002 est.)
Imports - commodities:
capital goods, raw materials and semi-manufactures, chemicals,
petroleum, food
Imports - partners:
Brazil 22%, Argentina 17.4%, US 15.6%, Chile 7%, Japan 5.5%, Peru
5.4%, China 4.8% (2002)
Debt - external:
$5.9 billion (2002 est.)
Economic aid - recipient:
$588 million (1997)
Currency:
boliviano (BOB)
Currency code:
BOB
Exchange rates:
bolivianos per US dollar - 7.17 (2002), 6.61 (2001), 6.18 (2000),
5.81 (1999), 5.51 (1998)
Fiscal year:
calendar year