The Bolivian Institute of Foreign Trade (IBCE) reported that imports, between January and October 2020, totalled 5.61 billion dollars, 31% less than what registered in the same period in 2019. All categories experienced decreases in value and volume, except for foreign purchases of food and beverages, which grew in volume by 17% and in amount by 3%, compared to January to October 2019.
Category: Macroeconomy/Finance
Information regarding Bolivia’s productive sector and the country’s macroeconomy.
BCB: Reservs guarantee seven months of import
As of November 25 of this year, the Net International Reserves (NIR) reach $5.39 billion, a sum that allows covering more than seven months of import of goods and services, which is higher than the international referential threshold of three months.
INE reports an urban unemployment rate of 8.7% as of October
The National Institute of Statistics (INE) reported that the urban unemployment rate in the month of October reached 8.7%, according to the results of the Continuous Employment Survey (ECE). The figure represents a decrease in the unemployment rate of 1.3% concerning the rate registered in September (10%) and 2.8 percentage points lower than that of July of 11.6%, which was the highest figure recorded in this administration.
The Ministry of Public Works announces the disbursement of $17.93 million to expand Entel’s coverage
The Minister of Public Works, Edgar Montaño, informed this Thursday that 125 million bolivianos ($17.93 mn) would disburse to extend the coverage in telephony, internet and cable television of Entel.
As a result of COVID-19, 64% of the unemployed are women
The National Institute of Statistics (INE) reported, this Thursday, that of the total number of people affected in the labour market, due to the effect of COVID-19, 64% are women. It is a rate that deserves the urgent application of an economic policy associated with improving employment for women and young people. The INE explained that the sectors that generated the most significant expulsion of workers linked to the food and restaurant trade, manufacturing industry and construction.
Industry sector drops by 12.8% in 1H-2020
The first semester the Bolivian economy, fell 11.11% due to the impact of the Covid -19. By the end of 2019, it had reached 2.22%. It is a drop of 13.3 percentage points. The Gross Domestic Product (GDP) of the industrial sector registered, as of June 2020, a contraction of 12.76%. In 2019 the industry had a growth rate of 3.19%, so there is a decrease of 15.9 percentage points in six months.
At the end of the year, the unemployment rate exceeds 11%
The government stated that a few weeks before Christmas, the unemployment rate is 11.8% and that the pandemic influenced this situation.
Reserves fell to $5.15 bn as of 13 November 2020
In the last 11 months, the Net International Reserves (NIR) fell from $6.47 billion recorded as of December 31, 2019, to $5.15 billion as of November 2020, according to the latest official report of the Central Bank of Bolivia (BCB). This fall is 20.3%, a lower figure than that predicted by the International Monetary Fund (IMF).
Bolivia’s exports are 27% less than in 2019, with a value of $5.44 billion
Bolivian foreign sales totalled $5.44 billion, 27% less than the same period in 2019. Imports totalled $5.6 billion, 31% less than the same period last year. These values result in a negative trade balance of $168 million.
Beni received over $2.8 mn for a post-Covid phase
The regional government of Beni received more than Bs.20 million ($2.89 million) for the recovery of the department after the impact of Covid-19. Of this amount, 50 percent will go to strengthening the health system, 25 percent to food security, and 25 percent to reviving local economies. In this regard, a project to develop fish farming and lizard meat production in 10 local communities stands out.
