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1994-05-02
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<text>
<title>
Bolivia: Economy
</title>
<article><hdr>The World Factbook 1993: Bolivia
Economy</hdr><body>
<p>Overview: With its long history of semifeudalistic social
controls, dependence on volatile prices for its mineral exports,
and bouts of hyperinflation, Bolivia has remained one of the
poorest and least developed Latin American countries. Since
August 1989, President PAZ Zamora, despite his Marxist origins,
has maintained a moderate policy of repressing domestic
terrorism, containing inflation, and achieving annual GDP growth
of 3 to 4%. For many farmers, who constitute half of the
country's work force, the main cash crop is coca, which is sold
for cocaine processing.
</p>
<p>National product: GDP - exchange rate conversion - $4.9
billion (1992)
</p>
<p>National product real growth rate: 3.8% (1992)
</p>
<p>National product per capita: $670 (1992)
</p>
<p>Inflation rate (consumer prices): 10.5% (December 1992)
</p>
<p>Unemployment rate: 5% (1992)
</p>
<p>Budget: revenues $1.5 billion; expenditures $1.57 billion,
including capital expenditures of $627 million (1993 est.)
</p>
<list>
<l>Exports: $609 million (f.o.b., 1992)</l>
<l> commodities: metals 46%, hydrocarbons 21%, other 33%
(coffee, soybeans, sugar, cotton, timber)</l>
<l> partners: US 15%, Argentina</l>
<l>Imports: 1.185 billion (c.i.f., 1992)</l>
<l> commodities: food, petroleum, consumer goods, capital
goods</l>
<l> partners: US 22%</l>
</list>
<p>External debt: $3.7 billion (December 1992)
</p>
<p>Industrial production: growth rate 7% (1992); accounts for
almost 32% of GDP
</p>
<p>Electricity: 865,000 kW capacity; 1,834 million kWh produced,
250 kWh per capita (1992)
</p>
<p>Industries: mining, smelting, petroleum, food and beverage,
tobacco, handicrafts, clothing; illicit drug industry reportedly
produces 15% of its revenues
</p>
<p>Agriculture: accounts for about 21% of GDP (including forestry
and fisheries); principal commodities - coffee, coca, cotton,
corn, sugarcane, rice, potatoes, timber; self-sufficient in food
</p>
<p>Illicit drugs: world's second-largest producer of coca (after
Peru) with an estimated 47,900 hectares under cultivation;
voluntary and forced eradication program unable to prevent
production from rising to 82,000 metric tons in 1992 from 74,700
tons in 1989; government considers all but 12,000 hectares
illicit; intermediate coca products and cocaine exported to or
through Colombia and Brazil to the US and other international
drug markets
</p>
<p>Economic aid: US commitments, including Ex-Im (FY70-89), $990
million; Western (non-US) countries, ODA and OOF bilateral
commitments (1970-89), $2,025 million; Communist countries
(1970-89), $340 million
</p>
<p>Currency: 1 boliviano ($B)=100 centavos
</p>
<p>Exchange rates: bolivianos ($B) per US$1 - 3.9437 (August
1992), 3.85 (1992), 3.5806 (1991), 3.1727 (1990), 2.6917 (1989),
2.3502 (1988), 2.0549 (1987)
</p>
<p>Fiscal year: calendar year
</p></body></article></text>