Bolivia Reaches Third Straight Month of Trade Surplus

Bolivia continues its winning streak with a $155 million trade surplus in June, the third consecutive positive month for the country, as reported by the National Institute of Statistics (INE). The surplus, the highest so far in 2024, was mainly driven by strong non-traditional exports like beef, according to Humberto Arandia, the INE director.

Total exports surpassed imports, with non-traditional exports increasing by 9% totaling $268 million. Despite a 2% dip in traditional exports like hydrocarbons and minerals, soy and beef exports reached record levels, boosting Bolivia’s economy significantly.

Dave Guachalla, Vice Minister of Planning and Coordination, credited targeted government strategies for the favorable trade shift and emphasized the importance of broadening Bolivia’s export range. This surplus marks a critical turnaround after months of deficits, indicating a promising future for Bolivia’s trade and economy.

Background

Bolivia faces challenges as it edges towards becoming Latin America’s riskiest sovereign debtor, amidst political instability and economic downturns. Investor demands for higher interest rates highlight the country’s financial instability in the global market.