Bolivia's economy in numbers:
Nominal GDP of USD 45.1 billion in 2023.
Nominal GDP of USD 44.1 billion in 2022.
GDP per capita of USD 3,686 compared to the global average of USD 10,589.
GDP per capita of USD 3,715 compared to the global average of USD 10,589.
Average real GDP growth of 3.3% over the last decade.
Average real GDP growth of 3.5% over the last decade.
Economic structure:
In 2021, services accounted for 61% of overall GDP, manufacturing 11%, other industrial activity 15%, and agriculture 13%. Looking at GDP by expenditure, private consumption accounted for 67% of GDP in 2021, government consumption 19%, fixed investment 17%, and net exports -3%.International trade:
In 2021, manufactured products made up 4% of total merchandise exports, mineral fuels 21%, food 19%, ores and metals 31% and agricultural raw materials 1%, with other categories accounting for 24% of the total. In the same period, manufactured products made up 67% of total merchandise imports, mineral fuels 24%, food 8%, ores and metals 1% and agricultural raw materials 1%, with other goods accounting for -1% of the total. Total exports were worth USD 14 billion in 2022, while total imports were USD 12 billion.Economic growth:
The economy recorded average annual growth of 3.5% in the decade to 2022. To read more about GDP growth in Bolivia, go to our dedicated page.
Fiscal policy:
Bolivia's fiscal deficit averaged 6.1% of GDP in the decade to 2022. Find out more on our dedicated page.
Unemployment:
The unemployment rate averaged 5.0% in the decade to 2022. For more information on Bolivia's unemployment click here.
Inflation:
Inflation averaged 3.1% in the decade to 2022. Go to our Bolivia inflation page for extra insight.
Monetary Policy:
Bolivia's monetary policy rate ended 2022 at 7.76%, down from 11.13% a decade earlier. See our Bolivia monetary policy page for additional details.
Exchange Rate:
From end-2012 to end-2022 the boliviano strengthened by 1.4% vs the U.S. dollar. For more info on the boliviano, click here.
44 indicators covered including both annual and quarterly frequencies.
Consensus Forecasts based on a panel of 11 expert analysts.
Want to get insight on the economic outlook for Bolivia in the coming years? FocusEconomics collects projections out to 2034 on 44 economic indicators for Bolivia from a panel of 11 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts, and averaged to provide one Consensus Forecast you can rely on for each indicator. This means you avoid the risk of relying on out of date, biased or outlier forecasts. Our Consensus Forecasts can be visualized in whichever way best suits your needs, including via interactive online dashboards , direct data delivery and executive-style reports which combine analysts' projections with timely written analysis from our in-house team of economists on the latest developments in the Bolivia economy. To download a sample report on the Bolivia's economy, click here. To get in touch with our team for more information, fill in the form at the bottom of this page.