Bolivia2021 Economic Complexity : -0.97, Rank 106 of 131
2021 Product Exports | Imports: $11.3B | $7.94B, 90 of 226 | 118 of 226
2021 Per Capita Product Exports | Imports: $958 | $671, 132 of 219 | 149 of 219
2019 Service Exports | Imports : $1.43B | $2.55B, 85 of 108 | 76 of 108
Overview In 2021, Bolivia was the number 89 economy in the world in terms of GDP (current US$), the number 90 in total exports, the number 118 in total imports, the number 125 economy in terms of GDP per capita (current US$) and the number 106 most complex economy according to the Economic Complexity Index (ECI) .
Exports The top exports of Bolivia are Gold ($2.55B), Petroleum Gas ($2.33B), Zinc Ore ($1.29B), Precious Metal Ore ($897M), and Soybean Meal ($720M), exporting mostly to India ($1.86B), Brazil ($1.45B), Argentina ($1.04B), Japan ($912M), and Colombia ($716M).
Imports The top imports of Bolivia are Refined Petroleum ($760M), Cars ($349M), Raw Iron Bars ($253M), Pesticides ($206M), and Delivery Trucks ($199M), importing mostly from Brazil ($1.56B), China ($1.53B), Chile ($886M), Peru ($701M), and United States ($529M).
Location Bolivia borders Argentina, Brazil, Chile, Paraguay, and Peru by land.
December, 2021
Overview In December 2021 Bolivia exported $966M and imported $1.19B, resulting in a negative trade balance of $224M. Between December 2020 and December 2021 the exports of Bolivia have increased by $178M (22.6%) from $788M to $966M, while imports increased by $334M (39.1%) from $855M to $1.19B.
Trade In December 2021, the top exports of Bolivia were Gold, non-monetary (excluding gold ores and... ($247M), Natural gas, in the gaseous state ($202M), Zinc ores and concentrates ($106M), Tin and tin alloys, unwrought ($68.2M), and Precious metal ores and concentrates ($54.4M). In December 2021 the top imports of Bolivia were Gas oils ($347M), Motor spirit (gasoline) and other light... ($90.8M), Bars and rods (other than those... ($23.3M), Insecticides put up in forms or... ($21.1M), and Motor vehicles for the transport of... ($16M).
Origins In December 2021 the exports of Bolivia were mainly from Santa Cruz ($263M), La Paz ($216M), Potosí ($194M), Tarija ($108M), and Beni ($90.9M), while imports destinations were mainly Santa Cruz ($454M), La Paz ($226M), Oruro ($209M), Tarija ($174M), and Cochabamba ($67.8M).
Destinations In December 2021, Bolivia exported mostly to India ($235M), Brazil ($149M), Argentina ($91.2M), Japan ($65.5M), and South Korea ($60M), and imported mostly from China ($185M), Brazil ($184M), Argentina ($182M), Chile ($137M), and Peru ($112M).
Growth In December 2021, the increase in Bolivia's year-by-year exports was explained primarily by an increase in exports to Japan ($25.8M or 67.7%), Peru ($20.5M or 56.7%), and South Korea ($18.2M or 54%), and product exports increase in Oilcake and other solid residues (except... ($26.1M or 86.5%), Precious metal ores and concentrates ($22.4M or 43.9%), and Soya bean oil and its fractions ($13.8M or 89.3%). In December 2021, the increase in Bolivia's year-by-year imports was explained primarily by an increase in imports from Chile ($37.3M or 130%), Peru ($10.8M or 18%), and Singapore ($10.7M or 1.27k%), and product imports increase in Gas oils ($73.4M or 319%), Motor spirit (gasoline) and other light... ($8.71M or 30.1%), and Pharmaceutical goods, other than medicaments ($6.05M or 641%).
EXPORT GROWTH (December 2020 - December 2021): $178M, (22.6%)
IMPORT GROWTH (December 2020 - December 2021): $334M, (39.1%)
MAIN EXPORTER (December 2021): Santa Cruz, $263M
MAIN DESTINATION (December 2021): India, $235M
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.
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In 2021, Bolivia exported a total of $11.3B, making it the number 90 exporter in the world. During the last five reported years the exports of Bolivia have changed by $3.78B from $7.55B in 2016 to $11.3B in 2021.
The most recent exports are led by Gold ($2.55B), Petroleum Gas ($2.33B), Zinc Ore ($1.29B), Precious Metal Ore ($897M), and Soybean Meal ($720M). The most common destination for the exports of Bolivia are India ($1.86B), Brazil ($1.45B), Argentina ($1.04B), Japan ($912M), and Colombia ($716M).
Bolivia Exports Services (2019): $1.43B
Bolivia Imports Services (2019): $2.55B
In 2019, Bolivia exported $1.43B worth of services. The top services exported by Bolivia in 2019 were Personal travel ($597M), Transportation ($455M), Business travel ($199M), Computer and information services ($69.8M), and Other business services ($62.3M).
The top services imported by Bolivia in 2019 were Transportation ($751M), Personal travel ($643M), Other business services ($390M), Business travel ($286M), and Insurance services ($159M).
Bolivia has a high level of specialization in Zinc Ore (194), Raw Tin (151), Precious Metal Ore (136), Buckwheat (95.5), and Tin Ores (93.3). 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 Water and Gas Generators (0.34), Friction Material (0.25), Other Leather Articles (-0.11), Scrap Nickel (-0.18), and Inorganic Salts (-0.31). 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, were Manganese Ore (0.13), Maté (0.12), Crude Petroleum (0.11), Cocoa Beans (0.11), and Raw Cotton (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 a country currently specializes in.
The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is 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 greenhouse emissions.
During the last 20 years Bolivia's economy has become relatively less complex, moving from the nullth to the 106th 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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