Flag description:
three equal horizontal bands of red (top), yellow, and green with
the coat of arms centered on the yellow band; similar to the flag of
Ghana, which has a large black five-pointed star centered in the
yellow band
Economy Bolivia
Economy - overview:
Bolivia, long one of the poorest and least developed Latin American
countries, made considerable progress in the 1990s toward the
development of a market-oriented economy. Successes under President
SANCHEZ DE LOZADA (1993-97) included the signing of a free trade
agreement with Mexico and becoming an associate member of the
Southern Cone Common Market (Mercosur), as well as the privatization
of the state airline, telephone company, railroad, electric power
company, and oil company. Growth slowed in 1999, in part due to
tight government budget policies, which limited needed
appropriations for anti-poverty programs, and the fallout from the
Asian financial crisis. In 2000, major civil disturbances held down
growth to 2.5%. Bolivia's GDP failed to grow in 2001 due to the
global slowdown and laggard domestic activity. Growth picked up
slightly in 2002, but the first quarter of 2003 saw extensive civil
riots and looting and loss of confidence in the government. Bolivia
will remain highly dependent on foreign aid unless and until it can
develop its substantial natural resources.
GDP:
purchasing power parity - $21.01 billion (2003 est.)
GDP - real growth rate:
2.5% (2003 est.)
GDP - per capita:
purchasing power parity - $2,400 (2003 est.)
GDP - composition by sector: agriculture: 15% industry: 33.2% services: 51.9% (2003 est.)
Investment (gross fixed):
12.4% of GDP (2003)
Population below poverty line:
70% (1999 est.)
Household income or consumption by percentage share: lowest 10%: 1.3% highest 10%: 32% (1999)