Bolivia’s estimated 2011 gross domestic product (GDP) totaled $23.3 billion. Economic growth was estimated at about 5.1%, and inflation was estimated at about 6.9%. The increase in GDP primarily reflected contributions from oil and gas production (7.9%); electricity, water, and gas distribution (7.6%); construction (7.2%); transport and communications (6.0%); and financial services (5.5%). Exports rose by more than 30% between 2010 and 2011 to $9.1 billion, due mostly to increased commodity prices, not increased volume. In 2011, Bolivia’s top export products were: hydrocarbons (45% of total exports), minerals (27%), manufactured goods (24%), and agricultural products (4%). Bolivia’s trade with neighboring countries is growing, in part because of several regional preferential trade agreements. Bolivia’s top trading partners in 2011 in terms of exports were Brazil (33%), Argentina (11%), United States (10%), Japan (6%), Peru (5%), South Korea (5%), Belgium (4%), China (3%), and Venezuela (3%). From 2010 to 2011, Bolivian imports rose by 41% to a total of $7.6 billion. Bolivia imports many industrial supplies and inputs such as replacement parts, chemicals, software, and other production items (31% of total imports), capital goods (21%), fuel (13%), and consumer goods (10%).
Bolivia's 2002 gross domestic product (GDP) totaled USD $7.9 billion. Economic growth was about 2.5% per year, and inflation was between 3% and 4% in 2002 (it was under 2% in 2001). Bolivia was rated 'Repressed' by the 2010 Index of Economic Freedom. However, despite a series of mostly political setbacks, between 2006 and 2009 the Morales administration has spurred growth higher than at any point in the preceding 30 years. The growth was accompanied by a moderate decrease in inequality.
Bolivia's current economic situation remains lackluster, a factor that can be linked to several factors from the past three decades. The first major blow to the Bolivian economy came with a
