Smuggling reduces grape purchases by 35%

Due to an unprecedented increase in smuggling, demand for Bolivian grapes was 35% lower than 2020. The grape, wine, and singanis chain is the most important productive activity in southern Bolivia, generating more than 5,000 direct and indirect sources of employment nationwide. It causes economic damage to about 1,000 producers of the 4,200 engaged in this activity, and that together with the wine industry, generate more than $ 200 million annually, contributing millions of dollars in taxes.

Rescheduled loans doubled, and finance companies’ profits fell 52%

The Association of Private Banks of Bolivia (Asoban) reveals that the rescheduled performing portfolio reached $1.78 billion, which implies a 119% growth, i.e., it doubled between March 2020 and March 2021. It also indicates that profits reached $25 million as of March 2021, registering a 52% drop in the last 12 months. The profitability of the entities has fallen by around 4%, six percentage points below the level recorded in March 2020.