December 18, 2024, 3:29 PM
December 18, 2024, 3:29 PM
On this day, the Bolivian Institute of Foreign Trade (IBCE) presented a report, prepared based on data from the Bolivian Institute of Statistics (INE), which shows that the “negative” results of Bolivian foreign trade with a global drop of almost $us 3,000 million.
Strikes, blockades, the seizure of land and the brakes on exports are some of the causes of this fall.
Gary Rodríguez, general manager of the IBCE, pointed out that according to INE data, until the third quarter of 2024, imports fell by $1,337.
“Bolivia is on track to register a second consecutive trade deficit in 2024, as a result of the high vulnerability of the external sector and, this, as a result of dependence on extractive natural resources and non-renewable, such as minerals and hydrocarbons, whose exports in terms of value fell 25% and 19%, respectively,” Rodríguez indicated at a press conference.
On the other hand, the “abrupt” drop in exports of $1,643 million “will imply that less foreign currency will be available for external payments; while, the collapse of imports, in more than $us 1,000 million, “It will imply less economic and commercial activity in the country,” he said.
The report presented on this day indicated that exports in the third quarter of this year, totaled $us 6,687 million, 20% less in value and 13% less in volume, compared to the same period in 2023. While traditional exports fell 23% in value and 14% in volume; Non-traditional exports fell 11% in both value and volume.
Regarding imports, they totaled $7,117 million, falling 16% in value and 11% in volume. The relative variation of the imported value as of September: transportation equipment (-31%); fuels (-14%); capital goods (-19%); inputs (-12%); food and beverages (-7%) and consumer goods (-12%).
Finally, Rodríguez said that “To reverse this situation, a change of direction is urgently needed, starting with legal security, market security and security of good public policies, as well as diversifying the exportable offer, developing non-traditional exports and conquering new markets, concentrating public policies and promotional efforts in fast-impact sectors such as agriculture. /agroindustrial and forestry/timber, tourism and the export of services that can generate more foreign currency for Bolivia,” he concluded.
