The illegal trade in pesticides at national level generates an estimated $45.3 million in the informal market, almost 14.3% of the supply in the domestic market, according to data from the Bolivian Institute for Foreign Trade (IBCE) and the Association of Suppliers of Agricultural Supplies (APIA). The legal market trades 96,717 metric tons, with a value of $343 million.
Bolivia’s traditional exports fell 24% in volume and 6% in value between January and October 2019, reported the Bolivian Institute of Foreign Trade (IBCE). Traditional exports represent 79% of Bolivia’s total exports and natural gas is the main product, whose exports fell 25% in volume and 18% in value. Regarding non-traditional exports that include products such as soybean, there was an increase of 17% in volume but a drop of 2% in value.
Bolivia’s government named Herland Soliz Montenegro as new CEO for state oil company YPFB. Soliz replaces Jose Luis Rivero who left the office after announced that YPFB is in economic bankruptcy, although he retracted later on this statement. However, oil and gas experts warned that YPFB is going through economic difficulties as a result of a continuing expansion on spending and negative results in exploration and unprofitable industrialisation projects.
2019 has been a particularly difficult year for Bolivia’s hydrocarbon sector. There was a drop in about 24% of gas production compared to 2014; reserves fell to 7.3 trillion cubic feet (TCF); Brazil fined Bolivia with $133 million; and the signed addendum to the contract with Argentina involves a 40% reduction in export volumes compared to the initial agreement, which means a revenue drop of Bs.6.757 million ($977.5 million), according to national and regional Government sources.