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Economy of Bolivia

Bolivia is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. As a developing nation, Bolivia may not be able to offer consistent social services to its citizens. These social services may include things like public education, reliable healthcare, and law enforcement. Citizens of developing nations may have lower life expectancies than citizens of developed nations. Each year, Bolivia exports around $12.16 billion and imports roughly $9.28 billion. 3.5% of population in the country are unemployed. The total number of unemployed people in Bolivia is 392,549. In Bolivia, 39% of the population lives below the poverty line. The percentage of citizens living below the poverty line in Bolivia is fairly high, but is not reason for complete concern with regard to investments. Potential financial backers should look at other economic markers, including GDP, urbanization rate, and strength of currency, before making any decisions regarding investments. Government expenditure on education is 6.3% of GDP. The Gini Index of the country is 46.6. Bolivia is experiencing poor equality. The gap between the richest and poorest citizens in this country is quite noticeable. Bolivia has a Human Development Index (HDI) of 0.667. Bolivia has an upper medium HDI score. This indicates that the majority of citizens will be able to attain a desirable life, though some citizens will not be able to achieve high living standards. The Global Peace Index (GPI) for Bolivia is 2.025.

Currency

The currency of Bolivia is Bolivian boliviano. The plural form of the word Bolivian boliviano is bolivianos. The symbol used for this currency is Bs., and it is abbreviated as BOB. The Bolivian boliviano is divided into Centavo; there are 100 in one boliviano.

Credit rating

The depth of credit information index for Bolivia is 7, which means that information is mostly sufficient and quite detailed; accessibility is not a problem. According to the S&P credit-rating agency, Bolivia has a credit rating score of BB-, and the prospects of this rating are positive. According to the Fitch credit-rating agency, Bolivia has a credit rating score of B+, and the prospects of this rating are stable. According to the Moody's credit-rating agency, Bolivia has a credit rating score of Ba3, and the prospects of this rating are positive.

Central bank

The prime lending rate of Bolivia's commercial banks is 9.7. In Bolivia, the institution that manages the state's currency, money supply, and interest rates is called Central Bank of Bolivia. Locally, the central bank of Bolivia is called Banco Central de Bolivia. The average deposit interest rate offered by local banks in Bolivia is 3%.

Public debt

Bolivia has a government debt of 26.7% of the country's Gross Domestic Product (GDP), as assessed in 2014.

Tax information

The corporate tax in Bolivia is set at 25%. Personal income tax ranges from 0% to 25%, depending on your specific situation and income level. VAT in Bolivia is 13%.

Finances

The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Bolivia is $70279 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in Bolivia was last recorded at $6 million. PPP in Bolivia is considered to be below average when compared to other countries. Below average PPP indicates that citizens in this country find it difficult to purchase local goods. Local goods can include food, shelter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with below average PPP are dangerous locations for investments. The total Gross Domestic Product (GDP) in Bolivia is 30,601 billion. Based on this statistic, Bolivia is considered to have a medium economy. Countries with medium economies support an average number of industries and opportunities for investment. It should not be too difficult to find worthwhile investment opportunities in medium economies. The Gross Domestic Product (GDP) per capita in Bolivia was last recorded at $3 million. The average citizen in Bolivia has very low wealth. Countries with very low wealth per capita often have lower life expectancies and dramatically lower quality of living among citizens. It can be very difficult to find highly skilled workers in countries with very low wealth, as it is difficult for citizens to obtain the requisite education needed for specialized industries. However, labor can be found for very low rates when compared with countries with higher wealth per capita. GDP Annual Growth Rate in Bolivia averaged 5.8% in 2014. According to this percentage, Bolivia is currently experiencing significant growth. Countries that are experiencing significant growth offer the best chance for a substantial return on investment, as GDP growth rate is the most important indicator of economic health. As GDP grows, business, jobs, and personal income grow as well. To read more about financial information click on finances of Bolivia.

Industry

Major industries in the country are mining, smelting, petroleum, food and beverages, tobacco, handicrafts, clothing, jewelry. The total labor force of Bolivia is 5,093,280 people, wherein 3.5% of population in the country are unemployed. The total number of unemployed people in Bolivia is 392,549. The Industrial Production growth rate of Bolivia is 4%.To read more about industrial information within Bolivia click on industry of Bolivia.

Agriculture

There are 30146 km2 of arable land in Bolivia, and it comprises 3% of the country's total territory. There are 32206 km2 of cultivated land in Bolivia. The country's major agricultural crops and products are soybeans, coffee, coca, cotton, corn, sugarcane, rice, potatoes, timber.To read more about agriculture click on agriculture of Bolivia.