Economy of Bolivia
| Statistics | |
|---|---|
| Main industries | mining, smelting, petroleum, food and beverages, tobacco, handicrafts, clothing, jewelry |
| Ease-of-doing-business rank | 150th (below average, 2020) |
| External | |
| Exports | $9.060 billion (2018 est.) |
Contents
What is Bolivia known for producing?
Since 2001, Bolivia’s leading legal agricultural export has been soybeans. Additionally, cotton, coffee, and sugarcane have been viable exports for Bolivia. For domestic consumption, corn, wheat, and potatoes are the crops of choice of Bolivian farmers.
What is the main export of Bolivia?
In the last two decades Bolivia has become a major exporter of natural gas (43 percent of total exports). Other exports include: silver (12 percent of total exports), zinc (10 percent) and soybeans and related products (7 percent).
What industries should Bolivia focus on?
Major bank lending goes to manufacturing, property services, and trade and retail. Tourism is also an important service industry in Bolivia, as a large number of foreign tourists are attracted to the country’s natural attractions. Bolivia’s major tourist sites include Lake Titicaca and Indian villages.
What is Bolivia rich in?
Bolivia is rich in resources such as petroleum, natural gas, gold, silver, tungsten, zinc, lead, and tin. In addition, the country has considerable resources of potash, platinum, tantalum, palladium, iron ore, nickel, indium, and cadmium.
What is the agriculture in Bolivia?
The region produces the vast majority of Bolivia’s agricultural exports, grown principally on large commercial farms (50-75 hectares) using modern methods. In the northern departments, rice, cattle and timber are the main agricultural products, while further south cattle, soybeans, coffee, rice and maize dominate.
What natural resources does Bolivia have?
In addition Bolivia has very important natural resources, such as gold, silver, zinc, tin, gas and oil below ground. This abundance of natural resources combined with its small population and small GDP places Bolivia squarely in the group of small resource rich countries relying heavily on hard minerals.
What is the Bolivian economy based on?
Economy of Bolivia
| Statistics | |
|---|---|
| Labor force by occupation | agriculture: 29.4% industry: 22% services: 48.6% (2015 est.) |
| Unemployment | 4% (2017 est.) note: data are for urban areas; widespread underemployment |
| Main industries | mining, smelting, petroleum, food and beverages, tobacco, handicrafts, clothing, jewelry |
What are the top 3 exports of Bolivia?
The most recent exports are led by Petroleum Gas ($2.37B), Gold ($1.85B), Zinc Ore ($843M), Soybean Meal ($533M), and Soybean Oil ($289M). The most common destination for the exports of Bolivia are Argentina ($1.24B), Brazil ($1.24B), United Arab Emirates ($950M), India ($798M), and United States ($444M).
What is Bolivia best known for?
11 Things Bolivia is Famous For
- A multitude of mountains. Bolivia conjures up images of the epic Andes, a towering mountain range characterized by countless snow-capped peaks.
- Dizzying heights.
- Lots of llamas.
- A cornucopia of cocaine.
- Political unrest.
- A plethora of protests.
- Hardline socialism.
- Bowler hats and frilly dresses.
What are the main imports of Bolivia?
Bolivia main imports are: machinery and transport equipment (38 percent of total imports), chemicals and related products (15 percent), mineral fuels and lubricants (14 percent), iron and steel (7.4 percent) and food products and livestock (7 percent).
Is Bolivia industrialized?
Although Bolivia’s poverty rate declined significantly from 63 percent in 2004 to 36 percent in 2017, the industrial production growth rate has been slow at about 2 percent.
Is Bolivia rich or poor?
Bolivia is the poorest country in South America. Although classified as middle income, it is at the very low end of the scale. Since 2006, the Government of Bolivia has introduced economic and social reforms designed to meet the basic needs of the poorest people.
What is the biggest problem in Bolivia?
Impunity for violent crime and human rights violations remain serious problems in Bolivia. The administration of President Evo Morales has created a hostile environment for human rights defenders that undermines their ability to work independently.
Why is Bolivia poor?
More than 80 percent of Bolivia’s rural population lives below the poverty line, a fact that is largely due to the low productivity of small-scale farming. With no mass production techniques and frequent water shortages, the quality of product and the money said products generate remain low.
What type of government is Bolivia?
RepublicUnitary statePresidential systemA unitary republic with a representative democratic government. Politically and administratively, the country is divided into 9 departments, 112 provinces, 327 municipalities and 1,384 cantons.
Is agriculture important in Bolivia?
Agriculture has been one of the most important sectors in Bolivia’s economy, contributing about 13 percent of GDP and accounting for just under 30 percent of total employment.
How many farmers are there in Bolivia?
These farms typically were one to three hectares in size and were worked by nearly 80 percent of Bolivia’s more than 700,000 farmers.
Which is the most important plant in Bolivia?
Due to the enormous geographic variation, Bolivia has many native plants. Some of these plants include the Bolivian Begonia, Yareta, Fire Flag, Creeping Oxeye, and Cuplet Fern, among many others.
Native Plants Of Bolivia.
| Native Plants of Bolivia | Scientific Name |
|---|---|
| Amazon Sword Plant | Echinodorus grisebachii |
| Matico | Piper aduncum |
What are 3 interesting facts about Bolivia?
21 Fascinating Facts About Bolivia
- Bolivia is home to 37 official languages.
- Sucre is the official capital of Bolivia.
- Salar de Uyuni is the world’s biggest mirror!
- Simón Bolívar is known as the Liberator.
- Bolivia is a landlocked country.
- Altitude sickness can be a concern in La Paz!
Is Bolivia rich in lithium?
Bolivia boasts one of the biggest lithium reserves in the world. After Luis Arce was elected the country’s new president, exploration hopes are mounting, especially among German investors. The glory days of the mines in Bolivia’s Cerro Rico (Rich Mountain) region are long gone.
