Category: Industry

Information about industry sectors such as hydrocarbons, agriculture, etc.

Bolivia produces nearly 1,000 tons of corn per year; transgenic seeds endanger native varieties

Each year, Bolivia produces about a thousand tons of corn. Santa Cruz has 57%, Tarija 16%, Cochabamba and Sucre 10% each, according to data. It estimates that the consumption of corn in Bolivia is between 17 and 60 kilos per person per year and is the basis for the production of animal feed. The average corn crop yield ranges from 2.08 to 2.72 tons per hectare. The incursion of genetically modified seeds will put at risk the subsistence of at least 28 native varieties widely used in the production of chicha, pasqalla, ch’uspillo, api and others.

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.

Revenue reduction from gas sales in 2020 is estimated at between $700 and $850 mn

The WTI oil price rose by 69%, to almost $32 per barrel in May, but the upturn will not immediately impact the cost of Bolivia’s export gas, the price of which is reflected in revenues with a six-month lag. If the recovery in the international price of WTI continues, the positive impacts will not be evident until the beginning of 2021. According to analysts, the reduction concerning that budgeted for 2020 would be between $700 and $850 million.

400 travel agencies in the country close down

After almost two months without operating, 400 travel agencies have closed in the country, and the Bolivian Association of Travel and Tourism Agencies (Abavyt) and the National Chamber of Tourism Operators (Canotur) are asking the Government to take over the payment of 4,000 basic salaries for six months, to avoid layoffs and mass unemployment in this sector.