Part 110

Diplomatic representation in the US: chief of mission: Ambassador Fernando Alvaro COSSIO chancery: 3014 Massachusetts Avenue NW, Washington, DC 20008 telephone: (202) 483-4410 through 4412 FAX : (202) 328-3712 consulate(s) general: Los Angeles, Miami, New York, and San Francisco

Diplomatic representation from the US: chief of mission: Ambassador Curtis Warren KAMMAN embassy: Avenida Arce 2780, San Jorge, La Paz mailing address: P. O. Box 425, La Paz; APO AA 34032 telephone : (2) 430251 FAX: (2) 433900

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

Economy - overview: With its long history of semifeudal social controls, dependence on volatile prices for its mineral exports, and bouts of hyperinflation, Bolivia has remained one of the poorest and least developed Latin American countries. However, Bolivia has experienced generally improving economic conditions since the PAZ Estenssoro administration (1985-89) introduced market-oriented policies which reduced inflation from 11,700% in 1985 to about 20% in 1988. PAZ Estenssoro was followed as president by Jaime PAZ Zamora (1989-93) who continued the free-market policies of his predecessor, despite opposition from his own party and from Bolivia's once powerful labor movement. By maintaining fiscal discipline, PAZ Zamora helped reduce inflation to 9.3% in 1993, while GDP grew by an annual average of 3.25% during his tenure. Inaugurated in August 1993, President SANCHEZ DE LOZADA has vowed to advance the market-oriented economic reforms he helped launch as PAZ Estenssoro's planning minister. His successes include the signing of a free trade agreement with Mexico and the Southern Cone Common Market (Mercosur) as well as the privatization of the state airline, phone company, railroad, electric power company, and oil company. Furthermore, SANCHEZ DE LOZADA sponsored legislation creating private social security accounts for all adult Bolivians and capitalized these new accounts with the state's remaining 50% share in the privatized companies.

GDP: purchasing power parity - $21.5 billion (1996 est.)

GDP - real growth rate: 3.9% (1996)

GDP - per capita: purchasing power parity - $3,000 (1996 est.)

GDP - composition by sector: agriculture: 17% industry: 31% services : 52% (1995 est.)

Inflation rate - consumer price index: 8% (1996)

Labor force: total: 2.3 million by occupation: agriculture NA%, services and utilities NA%, manufacturing, mining and construction NA%

Unemployment rate: 18.8% (1995 est.)

Budget: revenues: $3.75 billion expenditures : $3.75 billion, including capital expenditures of $556.2 million (1995 est.)

Industries: mining, smelting, petroleum, food and beverages, tobacco, handicrafts, clothing

Industrial production growth rate: 4% (1995 est.)

Electricity - capacity: 804,300 kW (1995)

Electricity - production: 3.02 billion kWh (1995)

Electricity - consumption per capita: 334 kWh (1995 est.)

Agriculture - products: coffee, coca, cotton, corn, sugarcane, rice, potatoes; timber

Exports: total value: $1.1 billion (f.o.b., 1995) commodities: metals 39%, natural gas 9%, soybeans 11%, jewelry 11%, wood 8% partners: US 26%, Argentina 17%, UK 15%, Peru 14% (1995)

Imports: total value : $1.4 billion (c.i.f., 1995) commodities: capital goods 48%, chemicals 11%, petroleum 5%, food 5% (1993 est.) partners: US 18%, Brazil 15%, Japan 13%, Argentina 8% (1995)

Debt - external: $4.3 billion (November 1996)

Economic aid: recipient: ODA, $362 million (1993)

Currency: 1 boliviano ($B) = 100 centavos

Exchange rates: bolivianos ($B) per US$1 - 5.1720 (November 1996), 4.8003 (1995), 4.6205 (1994), 4.2651 (1993), 3.9005 (1992)

Fiscal year: calendar year

@Bolivia:Communications

Telephones: 144,300 (1987 est.)