Bolivia’s trade balance recovers with surplus in April

Bolivia recorded a trade surplus of US$71 million in April due to a rebound in exports, thus lowering the trade deficit accumulated in the first three months, official sources informed yesterday, Monday.

“In April 2023, the value of our exports reached US$988 million, compared to imports of US$917 million, reflecting a trade surplus of US$71 million,” Bolivian President Luis Arce commented on Twitter, echoing the results published today by the state-run National Statistics Institute (INE).

Meanwhile, INE’s executive director, Humberto Arandia, highlighted at a press conference that the results of foreign trade in April represented a 34 percent decrease in the accumulated deficit in the first quarter, local press reported.

Foreign sales, he explained, went from US$976 million in March of this year to US$988 million in April, while imports decreased from US$1.080 billion to US$917 million.

He remarked that this surplus between March and April “translates into a greater availability of dollars in our economy”.

He pointed out that since February of this year, the country’s exports have experienced a progressive increase due to the reopening of trade with neighboring Peru, in addition to the fact that, for the first time, electricity was exported to Argentina.

“This situation undoubtedly favors the country’s foreign exchange income and contributes to the positive trade balance,” he said.

Arandia emphasized that Bolivia had to face an adverse external situation due to the fall in the prices of the main raw materials in the international market.

Regarding imports, the executive pointed out that there were drops in industrial supplies and fuels due to reduced prices in the international market.

News Bolivia, English news Bolivia, economic news Bolivia, trade balance Bolivia