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Bolivia – Important Facts

Bolivia officially known as the Plurinational State of Bolivia is a landlocked country located in western-central South America. It is bordered to the north and east by Brazil, to the south east by Paraguay, to the south by Argentina, to the south west by Chile, and to the north west by Peru. One-third of the country is the Andean mountain range, with one of its largest cities and principal economic centers located in the Altiplano.

Bolivia is a member of the Andean Community (ANCOM). Bolivia is also one of the world’s largest producers of coca, the raw material for cocaine. A crop-eradication programme, though easing the flow of conditional US aid, has incensed many of Bolivia’s poorest farmers for whom coca is often the only source of income. The country has the second-largest reserves of natural gas in South America, but there have been long-running tensions over the exploitation and export of the resource.

For the four year period from 2012 through 2015 Bolivia’s economy grew at an average yearly rate of 5.6%. This compares favorably to the 4.7% average yearly growth experienced from 20080 through 2011. The 2015 increase in GDP is a result of a 9.4% growth in public services; 6.3% growth in electricity water and gas distribution, 6% growth in financial services; 5.1% growth in agriculture and 4.6% growth in manufacturing.

Facts: Capital: Sucre (official), La Paz (administrative) Population: 10.2 million, Area: 1.1 million sq km (424,164 sq miles), Major languages: Spanish, Quechua, Aymara, Guarani, Major religion: Christianity, Life expectancy: 65 years (men), 69 years (women), Currency: boliviano.

Important Details

  • Country ISO3:BOL
  • Country Code:68
  • Income Group:Latin America & Caribbean
  • Lending Category:Lower middle income
  • Region:Blend
  • Currency Unit:Boliviano
  • WTO Member:YES
  • Trade organisations:Not available
  • world rank:160
  • Regional Ranking:26th in the South and Central America/Caribbean Region