Bolivia2019 Economic Complexity: -0.85, Rank 126 of 157
2019 Product Exports | Imports: $8.04B | $6.57B, 97 of 225 | 121 of 225
2019 Per Capita Product Exports | Imports: $698 | $570, 140 of 219 | 171 of 219
2017 Service Exports | Imports : $1.25B | $2.32B, 101 of 139 | 88 of 139
Overview: In 2019 Bolivia was the number 91 economy in the world in terms of GDP (current US$), the number 97 in total exports, the number 121 in total imports, the number 124 economy in terms of GDP per capita (current US$) and the number 126 most complex economy according to the Economic Complexity Index (ECI).
Exports: The top exports of Bolivia are Petroleum Gas ($2.37B), Gold ($1.85B), Zinc Ore ($843M), Soybean Meal ($533M), and Soybean Oil ($289M), exporting mostly to Argentina ($1.24B), Brazil ($1.24B), United Arab Emirates ($950M), India ($798M), and United States ($444M).
In 2019, Bolivia was the world's biggest exporter of Tungsten Ore ($44.5M)
Imports: The top imports of Bolivia are Cars ($385M), Refined Petroleum ($326M), Delivery Trucks ($243M), Raw Iron Bars ($222M), and Buses ($210M), importing mostly from Brazil ($1.41B), Chile ($1.01B), China ($853M), Peru ($707M), and Argentina ($501M).
Location: Bolivia borders Argentina, Brazil, Chile, Paraguay, and Peru by land.
Overview: In February 2021 Bolivia exported $732M and imported $623M, resulting in a positive trade balance of $110M. Between February 2020 and February 2021 the exports of Bolivia have increased by $64M (9.57%) from $668M to $732M, while imports decreased by $-21.8M (-3.39%) from $644M to $623M.
Trade: In February 2021, the top exports of Bolivia were Gold, non-monetary (excluding gold ores and... ($152M), Natural gas, in the gaseous state ($138M), Zinc ores and concentrates ($91M), Precious metal ores and concentrates ($81.1M), and Oilcake and other solid residues (except... ($48.7M). In February 2021 the top imports of Bolivia were Gas oils ($50.9M), Aeroplanes and other aircraft, mechanically-propelled (other... ($23.7M), Bars and rods (other than those... ($22M), Motors (other than motors of an... ($19.7M), and Machinery (other than machine tools) for... ($18.8M).
Origins: In February 2021 the exports of Bolivia were mainly from Potosí ($189M), La Paz ($178M), Santa Cruz ($176M), Tarija ($90.1M), and Oruro ($46.6M), while imports destinations were mainly Santa Cruz ($211M), La Paz ($177M), Oruro ($86.9M), Cochabamba ($76.8M), and Tarija ($52.1M).
Destinations: In February 2021, Bolivia exported mostly to India ($110M), Japan ($91.4M), Brazil ($82.3M), Argentina ($68.5M), and Peru ($53.2M), and imported mostly from China ($174M), Brazil ($126M), Argentina ($64.7M), Peru ($63.2M), and United States ($26.3M).
Growth: In February 2021, the increase in Bolivia's year-by-year exports was explained primarily by an increase in exports to Belgium-Luxembourg ($28.6M or 923%), China ($26.3M or 99.2%), and India ($22.3M or 25.5%), and product exports increase in Precious metal ores and concentrates ($39.9M or 97.1%), Soya bean oil and its fractions ($17.4M or 101%), and Oilcake and other solid residues (except... ($11.9M or 32.2%). In February 2021, the decrease in Bolivia's year-by-year imports was explained primarily by an decrease in imports from Russia ($-21.2M or -90.9%), Chile ($-13.3M or -43.4%), and Singapore ($-12.8M or -98.5%), and product imports decrease in Motor spirit (gasoline) and other light... ($-22.7M or -58.7%), Motor vehicles for the transport of... ($-9.84M or -55.7%), and Vehicles specially designed for travelling on... ($-8.99M or -50.6%).
EXPORT GROWTH (February 2020 - February 2021): $64M, (9.57%)
IMPORT GROWTH (February 2020 - February 2021): $-21.8M, (-3.39%)
MAIN EXPORTER (February 2021): Potosí, $189M
MAIN DESTINATION (February 2021): India, $110M
This section shows exports and imports data at subnational level for Bolivia. Click any date in the line plot, any subnational region in the geomap, or any product, destination or origin country to explore the exports or imports behavior of Bolivia over time.
Top Export (2019): Petroleum Gas, $2.37B
Top Destination (2019): Argentina, $1.24B
In 2019, Bolivia exported a total of $8.04B, making it the number 97 exporter in the world. During the last five reported years the exports of Bolivia have changed by -$5.5B from $13.5B in 2014 to $8.04B in 2019.
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).
In 2019 Bolivia imported $6.57B, making it the number 121 trade destination in the world. During the last five reported years the imports of Bolivia changed by -$4B from $10.6B in 2014 to $6.57B in 2019.
The most recent imports of Bolivia are led by Cars ($385M), Refined Petroleum ($326M), Delivery Trucks ($243M), Raw Iron Bars ($222M), and Buses ($210M). The most common import partners for Bolivia are Brazil ($1.41B), Chile ($1.01B), China ($853M), Peru ($707M), and Argentina ($501M).
Bolivia Exports Services (2017): $1.25B
Bolivia Imports Services (2017): $2.32B
In 2017, Bolivia exported $1.25B worth of services. The top services exported by Bolivia in 2017 were Personal travel ($597M), Other transport ($202M), Air transport ($170M), Business travel ($149M), and Miscellaneous business, professional, and technical services ($38.1M).
The top services imported by Bolivia in 2017 were Personal travel ($649M), Miscellaneous business, professional, and technical services ($367M), Other transport ($316M), Sea transport ($243M), and Air transport ($200M).
The top product import tariffs by their MFN Ad Valorem value for Bolivia are Articles for pocket or handbag, nes (40%) and Articles for pocket or handbag, plastic, textile oute (40%).
Click any of the products in the bar chart to see the specific Ad Valorem Duty Rates by partner country.
*The tariffs applied to imports for Bolivia are:
During the last 20 years Bolivia's economy has become relatively less complex, moving from the 90th to the 126th position in the ECI rank.
These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.
This section shows exports, imports and economic complexity data at subnational level for Bolivia. Click any of the Deparment in the geomap to visit the specific subnational profile.
Bolivia has a high level of specialization in Buckwheat (209), Zinc Ore (170), Raw Tin (146), Lead Ore (97.4), and Precious Metal Ore (83.1). Specialization is measured using RCA, an index that takes the ratio between Bolivia observed and expected exports in each product.
The highest complexity exports of Bolivia according to the product complexity index (PCI) are Machines to clean, sort, mill seed, grain, dry legumes (0.24), Asbestos friction materials and articles thereof (0.13), Prepared or preserved meat, meat offal and blood, nes (-0.047), Ceramic building bricks, flooring blocks and tiles (-0.24), and Unwrought tin (-0.41). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
The top export opportunities for Bolivia according to the relatedness index, are Tin Ores (0.13), Maté (0.12), Manganese Ore (0.11), Raw Cotton (0.11), and Crude Petroleum (0.11). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Bolivia is not specialized in.
The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.
The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.
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