What are Bolivia's Major Export Destinations?
The South American country of Bolivia might not be a major exporter, but its contribution to global trade is important nonetheless. Bolivia trade data shows that the country shipped approximately $7 billion worth of goods around the world.
But where are Bolivian exporters sending products? In this blog, we'll break down the country's trade destinations and go over some of its most profitable goods.
Major Bolivian Export Destinations
Bolivia sends goods to many different countries. However, its most significant partner is its neighbor to the north and east. Brazil makes up approximately 17.3 percent of its total global exports. Next up on that list is another neighboring country: Argentina in the south. Roughly 15.5 percent of exports go to Argentina.
Other major destinations include the United Arab Emirates, India, and Japan. Those countries make up around 9.7 percent, 8.4 percent, and 8.2 percent of all Bolivian exports, respectively.
The remaining 40.9 percent of all exports include nations like the United States, Peru, and South Korea.
What Does Bolivia Export?
In the past, Bolivia was a significant player in the metal export business. However, the collapse of tin in the 1980s changed all that. Bolivia trade data shows that the country's biggest export is now natural gas. Metals, petroleum, and natural gas account for most of the country's exported goods.
For agriculture, Bolivia trades soybeans the most.
How Trade Works in Bolivia
Bolivia is a landlocked country with challenging geography. Pair that with seasonal flooding, and the country's economic growth potential experiences continual challenges.
Fortunately, agreements with neighboring countries are bringing improvements to this sector. Railway connections and duty-free shipping from river ports are giving Bolivia easier access to international trade routes.
Many exports go through Pacific and Atlantic ports, which Bolivia has access to thanks to agreements with Chile, Paraguay, and Peru.
Bolivia's presence in international trade is continually growing. While the country is still trying to find its footing, recent improvements to infrastructure and trade routes are bound to help with economic growth moving forward.
Read a similar article about Colombia customs data here at this page.