Day: May 22, 2020

The value of meat exports grew to $7.6 mn in the first quarter of 2020

According to data from the National Institute of Statistics (INE), the value of exports to the first quarter of 2020 reached $7.6 million, while in the similar period last year was at $2.5 million. We are working in coordination with the National Service of Agricultural Security and Food Safety (SENASAG) to export meat to the markets of Russia and Chile, as Bolivia has an exportable surplus of at least 50 thousand tons per year.

Construction permits record an 85% drop in Santa Cruz

According to data from the National Institute of Statistics (INE), in February 2020, the last date for registration, Cochabamba led the way in the number of building permits with 70, followed by Trinidad (Beni) with 41, Santa Cruz (38), Potosí (35), La Paz (25) and Tarija (15). Meanwhile, activity in Sucre and Oruro came to a halt. Thus, building permits in Bolivia decreased from 572 to only 12 in March.

Oil companies reveal that investments in Bolivia should be reviewed or postponed

The fall in the price of WTI oil and its possible stabilization around $30 a barrel reveals a challenging scenario: investments have to be re-evaluated, in some cases postponed in the hope of a better scene and others cancelled. It is a severe blow for companies in the sector, which are now working hard to achieve sustainability. Oil companies are cutting their budgets in almost all countries of the world due to the high tax system, in Bolivia taxes to the sector reached 50%.

Projected losses in the tourism sector estimated at $1.09 bn for 2020

A study by the Franz Tamayo University released in April had projected an average loss of Bs 6.2 billion ($890 mn), equivalent to 38% by 2020. As quarantine extended, the situation became more serious; the projected losses deepened to Bs 7.6 billion ($1.09 bn), 52% of what predicted for this year before the pandemic. It expects that the reactivation of tourism in Bolivia will not come until mid-2021.