Bolivia
Bolivia benefits from preferential access to the EU market under the GSP+. It is a lower-middle income economy with a per-capita income of $3,686 in 2023. EU imports from Bolivia amounted to about €624 million in 2023. As most of Bolivia's exports enter the EU duty-free under the EU's normal tariff regime, the scope for preferential imports under the GSP+ is limited - these reached €35.4 million in 2023.
What is the GSP+?
The GSP+ is a special incentive arrangement for Sustainable Development and Good Governance that supports vulnerable developing countries. Next to fulfilling the eligibility requirements of the Standard GSP, GSP+ countries are required to ratify 27 international conventions on human rights, labour rights, environmental protection and climate change, and good governance. In order to ensure effective implementation of the conventions as well as compliance with reporting obligations, the EU engages in monitoring activities with the GSP+ countries. GSP+ beneficiaries can benefit from complete duty suspensions for products across approximately 66% of all EU tariff lines.
At a glance: EU preferential imports from GSP+ beneficiary countries (2023, € million)
12.2M (2023)
Population
Presidential Republic
Government
3.1% (2023)
GDP Growth
2.6% (2023)
Inflation
$ 45.1B (2023)
GDP
Facts about the Bolivian economy
Export Products
Bolivia's exports are heavily dependent on primary commodities, like natural gas, gold, zinc ores and other mineral products as well as agricultural products like nuts, quinoa, and soybean products.
Resource Wealth
Bolivia is a resource rich economy and benefits from a favourable climate for agricultural production and large mineral reserves. Bolivia possesses the world's largest lithium reserves as well as considerable deposits of zinc, silver, lead, tin, and gold. Furthermore, Bolivia is the world’s largest producer and exporter of Brazil nuts, the second largest exporter of quinoa and also contributes significantly to the world market’s supply of soybeans.
Trade Partners
Trade with its regional partners - Brazil, Argentina, Peru, Colombia and Chile - accounted for more than 40% of Bolivia's total trade in 2023. Brazil and India are the most important destination for Bolivia's export products, while most of the country's imports (21%) originated from China in 2023.
Economic Structure
Bolivia's economy is based on the country's substantial resources, both mineral and natural. Bolivia has substantial petroleum and natural gas reserves and good conditions for agricultural activities including forestry and fishing. The main cash crops are Brazilian nuts and soybeans. The industrial sector remains small and mainly focusses on the processing of the mineral and agricultural products. Other industries include the manufacturing of textiles from locally grown cotton and alpaca wool as well as the manufacturing of gold jewellery.
Usage of GSP+ Preferences
As most of Bolivia's important exports can enter the EU duty-free under the EU's normal tariff regime, the scope for preferential exports under the GSP+ is limited: 5.6% of the EU's total imports from Bolivia used the preferences in 2023. At the same time, Bolivia makes considerable use of the preferences granted under GSP+. 87% of eligible EU imports from Bolivia utilised GSP+ preferences in 2023.
Trade with the EU
Bolivia's total trade with the EU amounted to € 1.6 billion in 2023. With a share of 7.8% in Bolivia's total trade, the EU is the fourth most important trading partner. As an export market, the EU is ranked eighth, with a share of 6.0% in 2023.
Bolivia and the EU
Imports from Bolivia by product section (2023, € million)
Imports from Bolivia over time (€ million)
BOLIVIA AND THE EU GSP
Economic Impact
Bolivia's economy can be considered highly vulnerable and lies noticeably below the threshold of 7.4%. In 2019, Bolivia's vulnerability score stood at 0.1%. This also relates to Bolivia's rather low degree of diversification, which stood at 94.7% (2019). The minimum threshold currently stands at 75%.
6%
A relatively small share of Bolivia's exports to the EU in 2023 were eligible for tariff preferences under the GSP+.
87%
Bolivia's preference utilisation rate in 2023.
96%
Share of zero-duty imports from Bolivia. Most imports are duty-free under normal EU tariffs.
Preference utilisation and export diversification
EU imports from Bolivia (€ million)
Preference utilisation (%) vs. total eligible imports (in € million)
Because most of Bolivia's exports to the EU are duty-free, the share of preference-eligible exports is small, and their value fluctuated strongly over the years. Bolivia's preference utilisation rate was relatively stable between 2013 and 2023. Overall, Bolivia makes considerable use of its preferential access to the EU market, with a preference utilisation rate of well above 80% (87% in 2023). Particularly the leading product groups - cereals/oil seeds and food preparations - make considerable use of the preferential market access.
The largest product sections under the GSP+ (€ million, 2023)
The majority of preferential imports from Bolivia under the GSP+ is accounted for by two product groups, cereals & oilseeds, and prepared foodstuffs and beverages. The value of both of these categories decreased from 2021 to 2023. On the other hand, preferential imports of wood and wood articles more than doubled over the same period. Preference utilisation rates are generally high in most product sections.
SUSTAINABLE DEVELOPMENT AND MONITORING PRIORITIES
During the last decade Bolivia has made important efforts in fighting poverty and improving access to education, health care, food, and housing. Nevertheless, the COVID-19 pandemic exposed structural weaknesses and the fragility of the achieved progress, notably for indigenous communities and people living in remote areas which were particularly affected in terms of access to food, medicines, and government aid.
Monitoring priorities during the reporting period 2024-2025
Human rights: strengthen the institutional framework
Civil and political rights: fight violence against vulnerable people
Strengthening the judicial system
Labour rights
Combating trafficking in person and forced labour
Climate change mitigation
Addressing the drug situation and diversion of coca to illicit drug markets
Combating corruption
For the reporting period 2024-2025, the EU has focussed its monitoring activities on eight priority areas. Bolivia continues to face serious challenges in protection of human rights and notably in addressing the high levels of gender-based violence, overcrowded and poor conditions in prisons, and still widespread child labour across various sectors of the economy.
EU-Bolivia Bilateral Development Cooperation
DG INTPA
Access all info about EU-Bolivia relations on the International Partnerships website.