Bolivia registers trade deficit of US$214 million in first quarter

Bolivia has maintained a trade deficit since August last year, and in the first quarter of this year, it was a negative balance of US$214 million, reported Wednesday the private Bolivian Institute of Foreign Trade (IBCE) with data from the state-run National Institute of Statistics (INE).

Official data show that in absolute terms, Bolivia’s exports decreased by US$801 million, while imports increased by US$239 million, compared to the same period in 2022.

The trade balance was in deficit by US$214 million, 126 percent less than that recorded in the first quarter of last year.

According to the report of the private company specializing in foreign trade, exports reached US$ 2.566 billion in the evaluation period, and imports totaled US$ 2.780 billion.

The IBCE report shows that, in the first quarter of this year, the main export destinations were Brazil, with an 18 percent share, followed by India (13 percent) and Argentina (10 percent).

However, exports in March 2023 increased in all significant economic categories but have maintained a trade deficit since August last year, according to the INE report.

According to data published by the statistical entity, exports reached US$854 million in January, US$770 million in February, and US$941 million in March.

On the other hand, the negative trade balance in January reached US$27 million, in February US$66 million, and in March US$121 million.

Statistical data show that the trade deficit began last August and remains a reality in Bolivia after three consecutive years of trade surplus.

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