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 117 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.

Latest Trends (May, 2021)

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Overview: In May 2021 Bolivia exported $809M and imported $683M, resulting in a positive trade balance of $126M. Between May 2020 and May 2021 the exports of Bolivia have increased by $476M (143%) from $333M to $809M, while imports increased by $289M (73.5%) from $393M to $683M.

Trade: In May 2021, the top exports of Bolivia were Natural gas, in the gaseous state ($189M), Zinc ores and concentrates ($114M), Precious metal ores and concentrates ($87.2M), Oilcake and other solid residues (except... ($84M), and Gold, non-monetary (excluding gold ores and... ($73.4M). In May 2021 the top imports of Bolivia were Gas oils ($77.5M), Motor spirit (gasoline) and other light... ($34.5M), Bars and rods (other than those... ($21.4M), Motor vehicles for the transport of... ($15.9M), and Vehicles specially designed for travelling on... ($14.9M).

Origins: In May 2021 the exports of Bolivia were mainly from Santa Cruz ($255M), Potosí ($221M), Tarija ($114M), La Paz ($96.1M), and Oruro ($50.6M), while imports destinations were mainly Santa Cruz ($321M), La Paz ($164M), Oruro ($98.4M), Cochabamba ($51M), and Tarija ($32.5M).

Destinations: In May 2021, Bolivia exported mostly to Brazil ($110M), Argentina ($97.4M), Colombia ($92.9M), China ($65.4M), and Australia ($59.2M), and imported mostly from Brazil ($139M), China ($138M), Peru ($68.3M), Argentina ($67.8M), and United States ($43.1M).

Growth: In May 2021, the increase in Bolivia's year-by-year exports was explained primarily by an increase in exports to Colombia ($60.4M or 185%), Australia ($58.2M or 5.88k%), and China ($55.3M or 550%), and product exports increase in Zinc ores and concentrates ($94.3M or 489%), Precious metal ores and concentrates ($77.9M or 841%), and Gold, non-monetary (excluding gold ores and... ($63.3M or 625%). In May 2021, the increase in Bolivia's year-by-year imports was explained primarily by an increase in imports from Brazil ($74M or 114%), Peru ($49.1M or 256%), and China ($34.7M or 33.6%), and product imports increase in Motor spirit (gasoline) and other light... ($34.4M or 29k%), Bars and rods (other than those... ($17.9M or 500%), and Motor vehicles for the transport of... ($12.3M or 345%).

Historical Data

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Yearly Exports

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Value
Depth

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).

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Yearly Imports

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Value
Depth

Top Import (2019): Cars, $385M

Top Origin (2019): Brazil, $1.41B

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).

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Flow

Fastest Growing Export Markets (2018 - 2019)

Fastest Growing Import Markets (2018 - 2019)

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).

Tariffs by Product

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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:
23: AAP.AG N° 02 - Acuerdo de Alcance Parcial para la Liberación y Expansión del Comercio Intrarregional de Semillas Suscrito por el Art. 12 del TM80
30: AAP.CE N° 22 Acuerdo de Complementación Económica N° 22
36: AAP.CE N° 36 - Complementación Económica entre MERCOSUR y Bolivia
37: AAP.CE N° 36 - Complementación Económica entre Mercosur y Venezuela
44: AAP.CE N° 47 Acuerdo de Complementación Económica N° 47 Celebrado entre la República de Bolivia y la República de Cuba
66: AAP.CE N° 66 Acuerdo de Complementación Económica No. 66 Celebrado entre los Estados Unidos Mexicanos y el Estado Plurinacional de Bolivia
74: Acuerdo de Alcance Parcial de Complementación Económica N° 70 Suscrito entre el Estado Plurinacional de Bolivia, la República de Cuba, la República de Nicaragua y la República Bolivariana de Venezuela
80: AR.AM N° 02 - Acuerdo Regional de Apertura de Mercados en favor de Ecuador
81: AR.AM N° 03 - Acuerdo Regional de Apertura de Mercados en Favor de Paraguay
82: AR.CEYC N° 7 Acuerdo de Cooperación e Intercambio en las Áreas Cultural, Educacional y Científica (Argentina, Bolivia, Brasil, Chile, Colombia, Cuba, Ecuador, México, Panamá, Paraguay, Perú, Uruguay)
83: AR.PAR N° 04 - Preferencia Arancelaria Regional (Argentina Bolivia Brasil Chile Colombia Cuba Ecuador México Panamá Paraguay Perú Uruguay Venezuela)
136: Most Favoured Nation duty rate treatement
311: Preferential tariff for The Andean Community ( Spanish: Comunidad Andina, CAN)

Economic Complexity

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Most Specialized Products by RCA Index

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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.

Most Complex Products by PCI

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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.

Export Opportunities by Relatedness

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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.

Relatedness Space

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This network shows the products most related to the production structure of Bolivia. These are products that tend to be co-exported with the products that Bolivia exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Diversification Frontier

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Depth

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.

Economic Complexity Ranking

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Scale

During the last 20 years Bolivia's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨68th to the 117th⁩ 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.

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