Value of Bolivia’s exports reaches highest level in 30 years

The country has received exports worth US$8.275 billion and is expected to reach US$13 billion by the end of the year.

Contante y Sonante radio spoke with economists Mike Gemio and Omar Yujra, chairman of the Planning, Economic Policy and Finance Committee of the Chamber of Deputies.

From the beginning of the year to July, Bolivia’s foreign sales increased 36% compared to the same period in 2021, equivalent to US$2.181 billion.

The growth projections through December consider the increase in international hydrocarbon prices.

For example, gas, an area in which the country has excellent strength, and in this first part of the year, it achieved the highest revenues.

However, the figures show that the path of industrialization pursued by the government of Luis Arce is beginning to bear fruit: 51% of exports are industrial products.

According to Bolivian economist Mike Gemio, the policy to reactivate the family economy has impacted the country’s productive capacity.

“As soon as President Arce takes office [in 2020], he launches the ‘Bono contra el hambre,’ the ‘Sibolivia’ credit (…), a set of measures that boost the family economy, and by taking care of these elements, we have achieved these results,” Gernio said.

Referring to the export results, the Bolivian president explained via Twitter that this was due to the productive economic model of the social community.

According to his words-he served as Minister of Economy during Evo Morales’ term (2006-2019)-this model aims to “free Bolivia from dependence on commodity exports, abandon the primary export model and build an industrialized and productive Bolivia.”

“This is beginning to be reflected,” Omar Yujra, an economist and member of parliament, told Sputnik, chairman of the Parliamentary Commission on Planning, Economic Policy, and Finance.

“On the one hand, the industrialization of natural resources such as lithium and iron, which also generate revenues, and on the other hand, industrialization itself, which we are accelerating,” Yujra affirmed.