Bolivia is a South American landlocked country bordered by 5 other countries, Peru, Brazil, Paraguay, Argentina and Chile. The country has a rich history behind it, as it was the center of the ancient “Tiwanaku” empire and from the 15th to the early 16th centuries it was part of the Inca empire.
Bolivia exported for a value of $11.03 billion (US dollars) in 2021, according to data from the International Trade Center (ITC). Imports reached $9.5 billion in 2021. The trade balance surplus stood at $1.47 billion.
In 2021, the top 5 of Bolivian exports, with a total of 71%, were:
- Gold, platinum-plated gold, unworked, semi-worked or powdered: $2.53 billion (23%)
- Petroleum gas and other gaseous hydrocarbons: $2.3 billion (21%)
- Zinc ores: $1.38 billion (13%)
- Precious metal minerals: $871 million (8%)
- Cake and other solid residues from soybean oil: $707 million (6%)
As for imported products in 2021, the top 5 imports accumulate 47%:
- Petroleum oils (excluding crude oils): $2.2 billion (23%)
- Passenger cars and other motor vehicles: $369 million (4%)
- Bars of iron or non-alloy steel, simply forged: $287 million (3%)
- Insecticides, rodenticides and other anti-rodents, fungicides: $268 million (3%)
- Motor vehicles for freight transport: $186 million (2%)
Its main trading partners are Brazil with 15% of exchanges, followed by China with 13%, Argentina with 11% and finally India, with 10% of exchanges.
The main destinations of exports are:
- India 17%
- Brazil 13%
- Argentine 9%
- Japan 8%
- Colombia 6%
The main origins of imports are:
- China 21%
- Brazil 18%
- Argentina 13%
- Peru 8%
- Chile 7%
Regarding bilateral relations, Bolivia has signed and in force 4 regional trade agreements.
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Sources:
- https://data.worldbank.org/
- http://www.intracen.org/
- https://www.wto.org/index.htm
- https://www.cia.gov/the-world-factbook/
Data from 2020, other years are stated. Photo by Alan Hurt Jr. on Unsplash