At least five drugs to treat Covid-19 have registered price increases of more than 50% in recent days and some cases up to 300%. Some pharmacies offer Ivermectin at Bs 60 per tablet ($8.6). The reference price of this drug published in May by Agemed is 8.45 bolivianos ($1.21) for a 3-milligram tablet and 14.7 ($2.11) for a 6-milligram tablet. Bolivia feels the impact due to the closing of the border and exports from other countries.
Between January and June, flights at the country’s three primary airports fell by 85% due to the pandemic, which is why Servicios Aeroportuarios Bolivianos (Sabsa) lost 78.5 million Bolivians ($11.32 million). It expects that until the end of the year, work will be 50% less than the period before the pandemic and until March 2021 operations will reach 80% of the level before COVID-19.
Banana exports were reduced by 50% due to low demand in the Argentine market, which is the leading buyer of the product. The payments for the product exported are delayed between 30 and 60 days, due to restrictions to buy dollars in Argentina. Source: Los Tiempos
Exports in the January-May quarter fell by 24% in value and 6% in volume compared to 2019. Hydrocarbon exports fell 9 per cent in value, despite a 3 per cent increase in volume. Minerals fell 36% in value and 44 per cent in size. Despite the fall, there are products whose export value grew, such as beef (191%), sugar (63%), sunflower and derivatives (88%) and ethyl alcohol (29%).
From the second week of March until mid-June, the flow of trucks crossing the border with Chile fell, on average, from 350 to 70 per day. In the last two weeks of June and so far this month, the number of trucks climbed to 200 due to the resumption of foreign trade in sugar, soybean and oilseed derivatives, such as soybean flour and cake, and crude, vegetable and sunflower oil. The crisis and substantial sanitary restrictions in Chile condition the mobilization of import goods.
According to data from the Central Bank of Bolivia (BCB), shipments grew by 72% compared to April. The increase is significant if we take into account that during the first quarter of this year, the flow of these resources fell to 27.85%. The recovery is due to the relaxation of the isolation measures, in the countries where the most significant amount of resources arrive: Spain and the United States. Up to 40% of remittances come from Spain, while 21% of transfers come from the United States.
In June 2020, the Consumer Price Index (CPI) registered a positive percentage variation of 0.36% regarding May. The accumulated difference to June was positive by 0.78%, and to twelve months it reached 1.44%, according to information from the National Statistics Institute (INE).
As of May, bank deposits grew by $1.5 billion; loans are close to $400 million. Interest rates remain the same as in 2019. It shows people’s confidence in the financial system.
Bolivian imports fell by 36% in value and 38% in volume from January to May this year, compared to the same period in 2019. Imports in the first five months registered $2.65 billion, the lowest amount in the last ten years. Exports reached $2.59 Billion, 24% less than the same period in 2019. The volume decreased by 36%, according to IBCE.
The national economy registered negative inflation in December 2019, in January, February and in May 2020
The national economy registered negative inflation in December 2019 and in January and February 2020, with prices recovering in March and April, but again falling in May, and starting to rise in June. Since November 2019, the country experiences political uncertainty, a slowdown in the economy, which foresees a recession of 5.9% of the gross domestic product by 2020.