BOLIVIA

Bolivia’s Top 10 Imports

The following product groups represent the highest

dollar value in Bolivia’s import purchases
during 2016. Also shown is the percentage
share each product category represents in
terms of overall imports into Bolivia.

1 Machinery including computers: US$1.3 billion (15.6% of total

imports)
2 Vehicles: $1.1 billion (13.6%)
3 Mineral fuels including oil: $767.9 million (9.1%)
4 Electrical machinery, equipment: $667.4 million (7.9%)
5 Plastics, plastic articles: $445.4 million (5.3%)
6 Iron, steel: $400 million (4.7%)
7 Other chemical goods: $276.5 million (3.3%)
8 Articles of iron or steel: $250.5 million (3%)
9 Pharmaceuticals: $184 million (2.2%)
10 Optical, technical, medical apparatus: $179.3 million (2.1%)

IMPORTS
Sectors are eager to commence trade talks with the European Union (EU)
Total goods imports grew by 7.3% in US$ terms over 2011-2016, owing to relatively
solid demand arising from consumers and industry:
▪ Nearly a quarter of total goods imports is attributable to ‘Machinery and
Electrical’, demonstrating Bolivia’s industrial input requirements;
▪ Although Bolivia benefits from preferential access to the EU through its
membership of the Andean Community, the agreement is not comprehensive.
Therefore, many Bolivian sectors are keen to begin negotiations with the EU
towards a more inclusive agreement.
Chart 6 Import Profile of Bolivia
Source: Euromonitor International from IMF, Direction of Trade Statistics

EXPORTS
Oil price slump caused exports to fall sharply
Between 2014 and 2016, total goods exports contracted sharply by 44.5% in US$
terms, owing to the end of the commodity price boom and significantly lower global oil
prices since mid-2014, upon which Bolivia is highly dependent:
▪ With nearly 70.0% of total goods exports related to ‘Mineral Products’ in 2016,
Bolivia not only demonstrates that it has significant hydrocarbon and mineral
resources, but also makes itself extremely vulnerable to global commodity and oil
price shocks, as well as exhibiting a highly undiversified export base.
Furthermore, its endowments also make Bolivia a net energy exporter, with a
Mineral Products exports bill of US$5.0 billion in 2016;
 ▪ Given substantially lower global oil prices, Bolivia’s current account went from a
large surplus of 7.3% of GDP in 2012 to a considerable deficit of 5.5% in 2016.
Consequently, the trade balance also posted a deficit of 3.8% of GDP in 2016,
compared with a significant surplus of 12.6% in 2012.
Chart 7 Export Profile of Bolivia

Source: Euromonitor International from national

statistics/OECD/IMF/IFS/WEO/Direction of Trade Statistics
Note: Data for 2017 is forecast