According to the INE, most of Bolivia’s imports in 2024 were combustibles and lubricants, industrial materials, consumables, and capital goods for industry. Principal U.S. exports to Bolivia include mineral oils/fuels, plastic materials, food preparations, halogenated olefins, heavy machinery, automobiles, and pharmaceuticals. These continue to be among the best sector prospects for U.S. exports. Additional potential prospects for U.S. exports to Bolivia include pharmaceutical products, medical instruments, vehicles, plastics, paper, and food products, including wheat, corn, cereals, and dairy.
From January to December 2024, imports reached $9.9 billion, representing a 14 percent decrease compared to the same period last year. The decline in Bolivia’s imports between 2023 and 2024 was due to a combination of internal and external factors. The shortage of foreign currency, resulting from the fiscal deficit and the drop in exports, limited the country’s ability to acquire goods from abroad. Additionally, the fuel crisis affected logistics and transportation, while the devaluation of the Boliviano and the 10 percent annual inflation increased the cost of imported products, reducing their demand.
The most affected sectors were transportation equipment, inputs, capital goods, and fuels, which account for more than 80 percent of total imports. In particular, the automotive sector experienced a 40 percent drop in vehicle imports and a 60 percent decline in sales, impacting dealerships and related jobs.