Bolivia celebrates Plurinational State Foundation Day today, on 22 January. This national holiday has been a public holiday since 2010. Known in Spanish as ‘Día del Estado Plurinacional’, it celebrates the adoption of a new constitution in 2010.
Let’s have a look at business, trade and economy of this South American country.
The Bolivian economy has had a historic pattern of a single-commodity focus. From silver to tin to coca, Bolivia has enjoyed only occasional periods of economic diversification. Political instability and difficult topography have constrained efforts to modernize the agricultural sector. Similarly, relatively low population growth coupled with low life expectancy and high incidence of disease has kept the labor supply in flux and prevented industries from flourishing.
In the last two decades Bolivia has become a major exporter of natural gas. Main export partners are Brazil, Argentina, United States, Peru, South Korea, China and Belgium.
Top 5 Exports of Bolivia:
1. Petroleum
2. Precious Metal Ore
3. Silver
4. Zinc
5. Soybeans and Related Products
Export Portal 