Global Economic Activity Index – IGAE grew 2.1% year-on-year

The performance of the economy reflected through the Global Index of Economic Activity – IGAE, in the first two months (January and February) of 2020 grew by 2.1% compared to the similar period of the previous year. The activities that influenced in this behaviour were the Manufacturing Industry with 0.5% and Agriculture, (includes the livestock, forestry, hunting and fishing sectors) with 0.4% growing in 3.1% and 3.6% respectively; on the other hand, the extractive activities (Crude Oil and Natural Gas and Metallic and Non-Metallic Minerals) presented adverse incidence.

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.