Bolivia achieves record trade surplus of US$1.58 billion through October

RIO DE JANEIRO, BRAZIL – Bolivia recorded an accumulated trade surplus of US$1.58 billion as of October, the largest in seven years, President Luis Arce reported today.

“As of October 2021, our exports totaled US$9.01 billion and imports US$7.42 billion, leaving a trade surplus of US$1.58 billion, the highest in seven years,” the leftist leader wrote on his Twitter account.

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The Andean country closed the previous six years with a trade deficit. The deficit in the trade balance was US$65 million in 2020 when its economy was hard hit by the Covid-19 pandemic and GDP fell 8%.

“This important surplus is presented even with an increase in imports due to the reactivation of public investment projects, purchase of medicines, tests, and vaccines to attend, prevent and contain Covid-19, and the reactivation of the internal productive dynamics,” added Arce.

Bolivia’s main exports are natural gas, gold, zinc, crude oil, and soybean meal. The most significant imports are motor vehicles: cars and trucks.

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