Bolivia Tenders

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The economy of Bolivia is the 95th-largest economy in the world in nominal terms and the 87th-largest economy in terms of purchasing power parity. Bolivia is classified by the World Bank to be a lower middle income country. The Bolivian economy has had a historic pattern of a single-commodity focus. From silver to tin to coca, Bolivia has enjoyed only occasional periods of economic diversification. Political instability and difficult topography have constrained efforts to modernize the agricultural sector. Similarly, relatively low population growth coupled with low life expectancy has kept the labor supply in flux and prevented industries from flourishing. Rampant inflation and corruption also have thwarted development, but in the early twenty-first century the fundamentals of its economy showed unexpected improvement, leading major credit rating agencies to upgrade Bolivia's economic rating in 2010. The mining industry, especially the extraction of natural gas and zinc, currently dominates Bolivia's export economy. Between 2006 and 2019, GDP per capita quadrupled and the extreme poverty rate declined from 38% to 18%.