Data-Driven Report on Bolivia Exports: Bolivia’s Top Exports in 2024

Bolivia is a landlocked country in South America with a population of over 11 million people. The country's economy is largely driven by natural resources, including minerals, natural gas, and agriculture. According to Bolivia Export Data and customs data on Bolivia exports, Bolivia exported goods worth $9.05 billion in 2024, a 17% decline from the previous year. In this data-driven report, we will delve into Bolivia's top exports in 2024, shedding light on the key industries driving the country's export growth with a key focus on the trade data for Bolivia exports.

List of Bolivia's Largest Exports: Bolivia Exports by HS Code

The list of Bolivia's largest exports provides valuable insights into the country's economic landscape. Bolivia's export data by HS code and data on Bolivia top exports reveal a diverse range of goods that play a significant role in driving the nation's economy. From natural gas and soybeans to minerals like silver and zinc, Bolivia's export portfolio showcases the country's rich natural resources and export potential. The top 10 exports of Bolivia or Bolivia main exports in 2024, as per the data on Bolivia top exports and Bolivia customs export data include: 

1. Ores, Slag, and Ash (HS Code 26): $3.03 billion

Leading the pack for Bolivia’s biggest exports are ores, slag, and ash as per Bolivia export data by HS code, with a total export value of $3.03 billion, accounting for 33.55% of Bolivia's total exports. This category includes minerals such as silver, zinc, lead, and tin, highlighting Bolivia's reputation as a key player in the mining industry.

2. Mineral Fuels and Oils (HS Code 27): $1.69 billion

In second place is mineral fuels and oils, with an export value of $1.69 billion, making up 18.66% of Bolivia's total exports. Bolivia's reserves of natural gas and petroleum products contribute significantly to this export category, demonstrating the country's strength in the energy sector.

3. Precious Stones and Metals (HS Code 71): $1.01 billion

Bolivia's exports of precious stones and metals, including gold and silver, amount to $1.01 billion, representing 11.17% of the country's total exports. The mining industry in Bolivia plays a crucial role in supplying these valuable resources to the global market.

4. Prepared Animal Food (HS Code 23): $570.68 million

Prepared animal food is another key export category for Bolivia, with a total export value of $570.68 million, accounting for 6.3% of the country's total exports. This category includes a variety of feed products for livestock, highlighting Bolivia's focus on the agriculture and animal husbandry sectors.

5. Tin and Articles Thereof (HS Code 80): $529.34 million

Bolivia's exports of tin and related articles have a value of $529.34 million, making up 5.84% of the country's total exports. Tin has long been a significant export product for Bolivia, showcasing the country's historical prominence in the mining industry.

6. Animal or Vegetable Fats and Oils (HS Code 15): $502.29 million

With an export value of $502.29 million, animal or vegetable fats and oils contribute 5.54% to Bolivia's total exports. This category includes products such as soybean oil and beef tallow, highlighting Bolivia's agricultural diversity and export capabilities.

7. Meat and Edible Meat Offal (HS Code 02): $237.23 million

Bolivia's exports of meat and edible meat offal amount to $237.23 million, representing 2.62% of the country's total exports. The meat industry in Bolivia continues to grow, catering to both domestic and international markets with high-quality products.

8. Edible Fruit and Nuts (HS Code 08): $221.22 million

Exporting edible fruit and nuts, Bolivia generates $221.22 million in revenue, accounting for 2.44% of the country's total exports. Bolivia's diverse climate and agricultural practices contribute to the production of a variety of fruits and nuts for export.

9. Oil Seeds and Oleaginous Fruits (HS Code 12): $191.45 million

Oil seeds and oleaginous fruits are another significant export category for Bolivia, with a total export value of $191.45 million, making up 2.11% of the country's total exports. Products such as soybeans and sunflower seeds contribute to Bolivia's agricultural export portfolio.

10. Fertilizers (HS Code 31): $141.65 billion

Rounding out the top 10 exports of Bolivia is the category of fertilizers, with a total export value of $141.65 billion, representing 1.56% of the country's total exports. Fertilizers play a crucial role in supporting Bolivia's agricultural sector, enhancing crop yields and soil fertility, making them one of the top exports from Bolivia.

Bolivia's Top Trade Partners: Bolivia Exports by Country

Bolivia's top trade partners play a crucial role in the country's export industry. Among Bolivia's significant export partners are Brazil, Argentina, and the United States, as per the export data on Bolivia trade partners. Brazil stands out as one of the leading trade partners as per the data on Bolivia trade partners, with trade relations spanning various sectors, including agriculture and energy. The top 10 export partners of Bolivia, as per Bolivia trade data and Bolivia export data by country for 2024, include:

1. Brazil: $1.52 billion (16.9%)

Brazil stands out as Bolivia's top export partner as per the data on Bolivia exports to Brazil, accounting for a substantial 16.9% of Bolivia's total exports. The proximity between the two countries and the existence of strong trade agreements have facilitated this robust trade relationship. Bolivia mainly exports natural gas, soybeans, and minerals to Brazil.

2. China: $1.35 billion (14.9%)

China, known for its voracious appetite for raw materials, is the second-largest export partner for Bolivia. With $1.35 billion in exports, China plays a crucial role in Bolivia's economy. The demand for Bolivian minerals, soybeans, and oilseeds in China has significantly contributed to this partnership.

3. Japan: $716.98 million (7.9%)

Japan's technological advancements and manufacturing sector make it an essential export partner for Bolivia. With $716.98 million in exports, Japan has a significant impact on Bolivia's economy. Bolivia exports minerals, natural gas, and agricultural products to Japan.

4. Peru: $600.61 million (6.6%)

The neighboring country of Peru is another key export partner for Bolivia, with $600.61 million in exports. Bolivia's exports to Peru include natural gas, minerals, and textiles. The geographical proximity and strong trade relations between the two countries have facilitated this partnership.

5. South Korea: $553.78 million (6.1%)

South Korea's automotive and technology industries drive its demand for Bolivian minerals and natural resources. With $553.78 million in exports, South Korea holds a significant position as one of Bolivia's top export partners. The two countries continue to strengthen their trade ties for mutual benefit.

6. Colombia: $522.12 million (5.8%)

Colombia emerges as a vital export partner for Bolivia, with $522.12 million in exports. Bolivia exports natural gas, minerals, and textiles to Colombia. The trade relationship between the two countries has been growing steadily, showcasing the potential for further collaboration.

7. Argentina: $512.48 million (5.7%)

Argentina's agricultural sector creates a demand for Bolivian soybeans, grains, and minerals. With $512.48 million in imports from Bolivia, Argentina plays a crucial role as one of Bolivia's top export partners, as per Argentina customs import data and data on Bolivia exports to Argentina. The geographical proximity and trade agreements between the two countries further enhance this partnership.

8. United Arab Emirates: $483.68 million (5.3%)

The United Arab Emirates (UAE) serves as a significant export partner for Bolivia, with $483.68 million in exports. Bolivia exports natural gas, minerals, and textiles to the UAE. The strategic location of the UAE as a gateway to the Middle East and North Africa region enhances Bolivia's access to global markets.

9. Belgium: $379.53 million (4.2%)

Belgium's position as a hub for European trade and logistics makes it a crucial export partner for Bolivia. With $379.53 million in exports, Belgium plays a pivotal role in Bolivia's export market. Bolivia exports minerals, natural gas, and textiles to Belgium.

10. India: $370.99 million (4.1%)

India's growing economy and diverse industrial sector create opportunities for Bolivia to export its goods. With $370.99 million in exports, India is an important export partner for Bolivia. Bolivia exports minerals, soybeans, and textiles to India.

Bolivia Exports in the Last 10 Years: Yearly Bolivia Export Data

Bolivia Export Pricing Trends

• Natural Gas: The export value of natural gas decreased by 20.32% in 2024, reflecting global market fluctuations and possibly reduced demand.​
• Zinc Ores: Exports of zinc ores saw a modest increase of 3.49%, indicating stable demand.​
• Precious Metals: A significant rise of 33.67% in exports suggests heightened international demand and favorable pricing.​

Economic Challenges 

Bolivia's export-dependent economy faced challenges in 2024, including high inflation, currency shortages, and reduced foreign currency reserves, as per the report on Bolivia trade market. These issues were exacerbated by declining natural gas exports and increased public spending, leading to a strained fiscal position. ​

Bolivia Export Trends by Sector

Natural Gas

• Shipment Volume: Natural gas exports were down by approximately 20.32% in 2024.
• Pricing: The price of natural gas fluctuated between $4.5 and $5 per million BTU in 2024, reflecting the volatile energy markets and reduced global demand.
• Key Factors: The decline is attributed to lower energy demand from Argentina and Brazil, Bolivia’s key buyers.
• Major Export Markets: Primarily to Brazil ($1.3B) and Argentina ($180M).

Zinc Ores & Concentrates

• Shipment Volume: Zinc ore exports grew by 3.49% in 2024, a positive trend driven by strong industrial demand.
• Pricing: Zinc prices were slightly stable, averaging around $2,300 per ton during the year, driven by demand from the construction and automotive sectors globally.
• Key Markets: Japan ($460M), China ($500M), and South Korea.

Precious Metals (Gold, Silver, Lithium)

• Shipment Volume: Exports of precious metals surged by 33.67% in 2024 due to strong demand and high international prices.
• Pricing - Gold: $1,850/ounce (Up from $1,750/ounce in 2023).
• Silver: $24.50/ounce (Up from $22/ounce in 2023).
• Lithium: Bolivia remains a significant lithium exporter, especially to China and the EU.
• Key Markets: Primarily to Switzerland and the USA for gold and silver, while lithium is shipped mainly to China.

Agricultural Exports

• Soybeans: Exports declined by 5.43%, with pricing averaging $350 per ton. The fall is attributed to global competition and slower demand from China.
• Chestnuts (Brazil Nuts): Exports to the USA and European Union grew slightly by 1.87% due to increased demand for organic and healthy food products.

Trade Balance and Economic Implications

• Trade Balance: Bolivia has experienced a trade deficit of approximately $845 million in 2024.
• Imports: Imports totaled about $10 billion, a 14% decrease from 2023, driven by the need for machinery, fuel, and consumer goods.
• Economic Implications: The reduction in export value, especially from natural gas, has strained Bolivia’s trade balance. Rising imports, primarily of energy and industrial goods, exacerbate the deficit.

Key Developments Impacting Bolivia's Exports

• Gas Negotiations with Argentina: In early 2025, Argentina entered negotiations with Bolivia to increase natural gas imports due to a heatwave that strained their energy supply. This could provide a short-term boost to Bolivia’s gas exports.
• Lithium Expansion: Bolivia continues to expand its lithium production capacity, with new extraction projects underway in the Salar de Uyuni, aimed at catering to the electric vehicle market.

Export Pricing Trends for Bolivia Export Products in 2024

The pricing for key Bolivian export products in 2024 was influenced by a mix of global supply-demand factors, international market conditions, and geopolitical changes:

 Conclusion and Final Thoughts

In conclusion, Bolivia's economy is heavily reliant on its exports, with natural resources playing a key role in driving export growth, as per South America trade data. In 2024, natural gas, minerals, soybeans, metals, ores, and textiles were among Bolivia's top exports, contributing to the country's economic prosperity. By analyzing these key export sectors, we gain valuable insights into Bolivia's economy and its position in the global market. Through this data-driven report, we have provided a comprehensive overview of Bolivia's top exports in 2024, highlighting the key industries driving the country's export earnings.

We hope that you liked our insightful blog report on the latest Bolivia Export Data. For more such market trends on Bolivia’s exports, visit TradeImeX. Contact us at info@tradeimex.in and get a list of top exporting companies in Bolivia.