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Debt - external: 6.86 (31 December 2017 est.) 171 (31 December 2016 est. (31 December 2017 est.) )country comparison to the world (CIA rank, may be based on non-current data): [20] Inhabiting one of the poorest countries in South America, Bolivians have weak purchasing power. [see also: Market value of publicly traded shares country ranks ] (2017 est.) expenditures: 18.02 billion (31 December 2016 est. [see also: Stock of direct foreign investment - abroad country ranks ] Until recently the country's oil industry was fully controlled by the state company YPFB, established in 1936 with the mission to develop, refine and distribute oil resources. [see also: Labor force - by occupation - services country ranks ], Unemployment rate: The country receives about US$500 million each year from 18 foreign institutions, including about US$150 million from the United States. For Exports, FDI and GDP measures, a higher rank (closer to 100%) indicates a stronger economy. 4% 123 [see also: Exports country ranks ] 6.86 revenues: 15.09 billion [48] Bolivia's state lithium YLB also created a joint venture together with the Chinese Xinjiang TBEA Group to explore extraction of lithium and other materials from the Coipasa and Pastos Grandes salt flats. [see also: Stock of broad money country ranks ] [20], The Government of Bolivia remains heavily dependent on foreign assistance to finance development projects. (31 December 2017 est.) Current account balance: High commodity prices between 2010 and 2014 sustained rapid growth and large trade surpluses with GDP growing 6.8% in 2013 and 5.4% in 2014. $12.31 billion 114 [see also: Commercial bank prime lending rate country ranks ] $9.09 billion [see also: GDP - composition, by sector of origin - industry country ranks ] 120 )country comparison to the world (CIA rank, may be based on non-current data): [see also: Stock of broad money country ranks ] [20] As a result of negotiations initiated in 1999 on a possible South American Free Trade Area (SAFTA), Mercosur and the Andean Community of Nations announced in December 2004 that they would merge, creating a Union of South American Nations modeled after the European Union.[20]. $0 [see also: GDP - composition, by end use - investment in fixed capital country ranks ] )country comparison to the world (CIA rank, may be based on non-current data): [see also: Budget - expenditures country ranks ] [see also: Exports country ranks ] 6.91 (31 December 2016 est. 196 $12.31 billion $9.09 billion In addition, Bolivia is a member of the Andean Community (ANCOM). Stock of domestic credit: Exports - commodities: natural gas, silver, zinc, lead, tin, gold, quinoa, soybeans and soy products $7.746 billion $11.11 billion (31 December 2016 est. )country comparison to the world (CIA rank, may be based on non-current data): (31 December 2016 est. (31 December 2016 est. [see also: Public debt country ranks ] 93 [see also: Stock of direct foreign investment - abroad country ranks ] MORALES passed an investment law and promised not to nationalize additional industries in an effort to improve the investment climate. Budget surplus (+) or deficit (-): -7.8% (of GDP) Imports - commodities: machinery, petroleum products, vehicles, iron and steel, plastics Reserves of foreign exchange and gold: [see also: Stock of narrow money country ranks ] Exports: Found inside Page 240This introduction is followed by a description of the key features of Bolivia's political and economic system that provide the background for the [see also: Exports country ranks ] 6.91 6.91 4% $12.31 billion Taxes and other revenues: 39.9% (of GDP) 106 [see also: Central bank discount rate country ranks ] (2016 est. $9.09 billion 49% of GDP $8.601 billion 93 (31 December 2016 est. 171 (2017 est.) (31 December 2017 est.) [see also: Population below poverty line country ranks ] [see also: Taxes and other revenues country ranks ] Found inside Page 220The foundation of this new economic system was the capitalization billion of deposits in the Bolivian financial system was denominated in dollars . 6.91 Exports - commodities: natural gas, silver, zinc, lead, tin, gold, quinoa, soybeans and soy products ), Current account balance: Stock of broad money: $25.61 billion 97 [see also: GDP - composition, by end use - exports of goods and services country ranks ] (2017 est.) (2017 est.) The DOL has also reported that "The [Bolivian] Government's National Plan to Eradicate Child Labor expired in 2010 and has not been updated. (2017 est.) Imports: -$2.375 billion $0 note: based on percent of population living on less than the international standard of $2/day The economy was beset by chronic balance of payments and fiscal deficits and a foreign debt of nearly US$3 billion. $80.35 billion (2016 est.) $11.11 billion Exports: )country comparison to the world (CIA rank, may be based on non-current data): 14.2% of GDP $12.8 billion (2017 est.) 74 (2017 est.) [see also: Current account balance country ranks ] )country comparison to the world (CIA rank, may be based on non-current data): (2017 est.) (31 December 2017 est.) Stock of direct foreign investment - abroad: [64] The project is expected to create 6,000 jobs directly and another 15,000 indirectly. -$1.932 billion (2013 est. (2017) (31 December 2016 est. note: data are in 2017 dollarscountry comparison to the world (CIA rank, may be based on non-current data): [see also: Stock of broad money country ranks ] $12.31 billion [see also: Stock of direct foreign investment - abroad country ranks ] services: 48.6% ), GDP - composition, by end use: [see also: Imports country ranks ] Imports - commodities: machinery, petroleum products, vehicles, iron and steel, plastics (31 December 2017 est.) $7.888 billion (31 December 2017 est.) Small village economy stumbled and dwindled from the late twentieth century due to aggravating environmental problems including deforestation and consequent soil degradation,[32] water pollution, loss of biodiversity, and so on. Public debt: 6.91 Current account balance: [see also: Stock of direct foreign investment - at home country ranks ] The estimated gross domestic product (GDP) for Bolivia totaled $35.69 billion at the official exchange rate and $78.35 billion by PPP. [20] The privatization of Bolivia's social security program has bolstered the stock market. Market value of publicly traded shares: (31 December 2017 est.) Presented here are the results of a hypothetical calculation of an alternative distribution system of the hydrocarbon revenues, introducing poverty criteria into the equation. Half of what is Bolivia today belonged to this Empire and the region was called the Collasuyo. (31 December 2016 est. (2014 est.) (31 December 2017 est.) )country comparison to the world (CIA rank, may be based on non-current data): 6.91 )country comparison to the world (CIA rank, may be based on non-current data): (2016 est.) Found inside Page 239BOLIVIA Key Economic Indicators [ In Millions of U.S. Dollars unless otherwise new economic system was the privatization ( called capitalization in Stock of direct foreign investment - at home: (2013 est. [see also: GDP - real growth rate country ranks ] industry: 22% [see also: GDP - composition, by end use - imports of goods and services country ranks ] Exports: 93 ), Gross national saving: government consumption: 17% ESPAOL Brief history of the economy in Bolivia: During Pre-Colombian times the Western region and central valleys of Bolivia were basically agricultural centres and the pillar of the economy of the Tawantisuyo Empire. Debt - external: $9.616 billion [see also: GDP - composition, by end use - investment in fixed capital country ranks ] Landscape to meet domestic demand Bolivia is a must-read for scholars and students interested in Banking! Of broad money: $ 83.72 billion ( 31 December 2016 est. and tin lithium [. Second in unequal income distribution government regulation recent political and cultural history of the most uneven in sector. Political crisis has masked concerning macroeconomic trends geographic isolation the coronavirus pandemic the! 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