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Indicators of economy in Bolivia

The essential economic performance of a country is reflected by the gross domestic product, the total of all goods and services sold. Worldwide gross domestic product in 2021 was at about 12,183 USD per capita. GDP in Bolivia, on the other hand, reached USD 3,345 per capita, or 40.41 billion USD for the whole country. Bolivia is therefore currently ranked 94 of the major economies. If this is calculated per inhabitant, taking purchasing power parity into account, then Bolivia ranks 126th in the list of the richest countries.

Inflation in Bolivia in 2022 was around 1.75%. Within the EU, the average in the same year was 9.22 percent. In the United States, it was most recently 8.00%.

The index for perceived corruption in the public sector is 31, which is below average by global standards.


Back to overview: Bolivia

Impact of the COVID-19 pandemic

The consequences of the COVID pandemic in 2020 were considerable in Bolivia. Overall, gross domestic product in 2020 fell from 40.90 billion US dollars to 36.63 billion US dollars. With a large drop of 10.43 percent, the economy in Bolivia has struggled significantly more than other countries. The tourism sector alone slumped by around 75 percent. The unemployment rate rose from 3.7 to 7.9 percent. The inflation rate fell from 1.8 percent previously to 0.9 percent by the end of 2020.

In 2021, there was already a recovery and the gross domestic product increased to 40.41 billion US dollars (=98.8% of 2019).

Income and purchasing power

The average monthly income in Bolivia is 274 US Dollar per capita. In the USA, the figure is 5,911 US Dollar. However, the prices of consumer goods are also around 65.7 percent lower than in the USA. If you compare income and price levels, the result is a more expensive life in Bolivia than in the United States. The bottom line is that the costs do not offset the lower income, and you get about 86.5 percent less.

However, it is also important to remember that this is a purely statistical model. Both the labor output and the type and quality of the goods received always correspond to the national average on both sides of the equation - so they do not necessarily have to match. Here you can also find an international comparison of cost of living and purchasing power.

Unemployment rates in percentages 1991 - 2022

Economic performance 2021

 Bolivia
Total		Bolivia
per capita		EU
Total		EU
per capita
GDP40.41 bn USD3,345.20 USD17.177 tn USD33,384.92 USD
Gross national product39.79 bn USD3,293.66 USD16.895 tn USD32,835.37 USD


Development of gross domestic product in billions of USD 1960 - 2021


› Debt budget development
› Development of inflation
› Corruption in Bolivia
› Cost of living in a global comparison


Imports and Exports 2021

 Bolivia
Total		Bolivia
per capita		EU
Total		EU
per capita
Imports10.68 bn USD883.73 USD8.916 tn USD17,329.02 USD
Exports11.33 bn USD937.61 USD9.554 tn USD18,569.19 USD


Development of imports and exports in billions of USD 1976 - 2021

Exports
Imports



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