Bolivia achieved a $99.5 million trade surplus in November

Little by little, the numbers of foreign trade are recovering in the country. According to the latest report of the Foreign Trade Statistical Bulletin, prepared by the National Institute of Statistics (INE), in November the country registered a trade surplus of $99 million, the highest in 2020. However, total exports from January to November 2020 reached $6.17 billion, showing a decrease of 24.2% compared to 2019.

More than 1,300 people have registered for VAT refunds

The president of the National Tax Service (SIN), Mario Cazón, reported that more than 1,300 people registered as beneficiaries of the 5% Value Added Tax (VAT) refund in the first days of the registration process. The beneficiaries are self-employed workers, self-employed persons, pensioners, and dependent professionals from the public or private sector with a monthly income equal to or less than Bs 9,000 ($1,307.93).

Gas revenues down 28% in 2020

Natural gas exports fell by 28 per cent in 2020 due to the drop in hydrocarbon prices caused by the Covid-19 pandemic. According to data from the Bolivian Institute of Foreign Trade (IBCE), between January and November 2020 the country received $1.86 billion for the export of 8.28 million kilos of hydrocarbons. The value is 29% of the $2.6 billion received in 2019 for the export of 8.35 million kilos. In this context, the export outlook is uncertain for 2021, given the resurgence of the disease.

Anapo estimates that the country could generate $1.2 bn from value-added soybean exports

With international soybean prices at over $500 per ton, the Association of Oilseed and Wheat Producers (Anapo), sees favourable prospects for producers and the opportunity to get a fair price for their production, $420 per ton in Santa Cruz. Anapo estimates that the country can generate about $1.2 billion in exports of value-added products such as soybean oil and cake, representing a 50% increase over the value of exports in recent years.