Diplomatic representation from the US:
chief of mission: Ambassador David N. GREENLEE
embassy: Avenida Arce 2780, San Jorge, La Paz
mailing address: P. O. Box 425, La Paz; APO AA 34032
telephone: [591] (2) 2430120, 2430251
FAX: [591] (2) 2433900
Flag description:
three equal horizontal bands of red (top), yellow, and green with
the coat of arms centered on the yellow band; similar to the flag of
Ghana, which has a large black five-pointed star centered in the
yellow band
Economy Bolivia
Economy - overview:
Bolivia, long one of the poorest and least developed Latin American
countries, reformed its economy after suffering a disastrous
economic crisis in the early 1980s. The reforms spurred real GDP
growth, which averaged 4 percent in the 1990s, and poverty rates
fell. Economic growth, however, lagged again beginning in 1999
because of a global slowdown and homegrown factors such as political
turmoil, civil unrest, and soaring fiscal deficits, all of which
hurt investor confidence. In 2003, violent protests against the
pro-foreign investment economic policies of President SANCHEZ DE
LOZADA led to his resignation and the cancellation of plans to
export Bolivia's newly discovered natural gas reserves to large
northern hemisphere markets. Foreign investment dried up as
companies adopted a wait-and-see attitude regarding new President
Carlos MESA's willingness to protect investor rights in the face of
increased demands by radical groups that the government expropriate
foreign-owned assets. Real GDP growth in 2003 and 2004 - helped by
increased demand for natural gas in neighboring Brazil - was
positive, but still below the levels seen during the 1990s. Bolivia
remains dependent on foreign aid from multilateral lenders and
foreign governments.
GDP (purchasing power parity):
$22.33 billion (2004 est.)
GDP - real growth rate:
3.7% (2004 est.)
GDP - per capita:
purchasing power parity - $2,600 (2004 est.)
GDP - composition by sector: agriculture: 13% industry: 28% services: 59% (2004 est.)
Labor force:
3.8 million (2004 est.)
Labor force - by occupation:
agriculture NA%, industry NA%, services NA%
Unemployment rate:
9.2% in urban areas
note: widespread underemployment (2003 est.)
Population below poverty line:
64% (2004 est.)
Household income or consumption by percentage share: lowest 10%: 1.3% highest 10%: 32% (1999)
Distribution of family income - Gini index:
44.7 (1999)
Inflation rate (consumer prices):
4.9% (2004 est.)
Investment (gross fixed):
10.4% of GDP (2003 est.)
Budget:
revenues: $2.264 billion
expenditures: $2.769 billion, including capital expenditures of $741
million (2004 est.)
Agriculture - products:
soybeans, coffee, coca, cotton, corn, sugarcane, rice, potatoes;
timber
Industries:
mining, smelting, petroleum, food and beverages, tobacco,
handicrafts, clothing
Industrial production growth rate:
5.7% (2004 est.)
Electricity - production:
4.132 billion kWh (2002)
Electricity - production by source: fossil fuel: 44.4% hydro: 54% nuclear: 0% other: 1.5% (2001)
Electricity - consumption:
3.848 billion kWh (2002)
Electricity - exports:
3 million kWh (2002)
Electricity - imports:
9 million kWh (2002)
Oil - production:
39,000 bbl/day (2004 est.)
Oil - consumption:
49,000 bbl/day (2001 est.)
Oil - exports:
NA
Oil - imports:
NA
Oil - proved reserves:
458.8 million bbl (1 January 2002)
Natural gas - production:
8.44 billion cu m (2004 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 (1 January 2002)
Current account balance:
$273 million (2004 est.)
Exports:
$1.986 billion f.o.b. (2004 est.)
Exports - commodities:
natural gas, soybeans and soy products, crude petroleum, zinc ore,
tin
Exports - partners:
Brazil 40%, US 13.9%, Colombia 8.7%, Peru 6.3%, Japan 4.5% (2004)
Imports:
$1.595 billion f.o.b. (2004 est.)
Imports - commodities:
petroleum products, plastics, paper, aircraft and aircraft parts,
prepared foods, automobiles, insecticides, soybeans
Imports - partners:
Brazil 29.7%, Argentina 17.6%, US 10.8%, Chile 7.7%, Peru 7.3%
(2004)
Reserves of foreign exchange and gold:
$1.214 billion (2004 est.)
Debt - external:
$5.439 billion (June 2004 est.)
Economic aid - recipient:
$681 million (2002)
Currency (code):
boliviano (BOB)
Currency code:
BOB
Exchange rates: