CNI: smuggling generates more than $6.3 mn daily

According to the National Chamber of Industries (CNI) estimation, more than $6.3 million worth of goods are smuggled into the country every day. According to CNI president Ibo Blazicevic, smuggling has been on an upward trend in recent months, driven by currency devaluation in neighbouring countries.

Cochabamba International Fair expects to generate $60 mn in trade

The Cochabamba International Fair (FIC) will be held from 28 October to 7 November this year. The event will move at least 1% of the Gross Domestic Product (GDP) of the department, an equivalent of more than $60 million, and will therefore be important for reactivating the economy, according to the president of the Feicobol Foundation, Antonio Torrico.

Soy producers block roads, claiming they lose more than $100 million due to price regulation

Soybean producers began blocking roads in different areas of Santa Cruz demanding the elimination of a price band that regulates the sale of soybean meal. According to the sector, this regulation causes a reduction of $50 per tonne, which generates a total loss of more than $100 million for the sector.

Exports fell 10.3% and imports dropped 27.7% in January

Exports reached $692.6 million in January, 10.3% less than in the same month of 2020, when sales abroad reached $772.1 million. The fall is due to negative variations in economic activities such as hydrocarbon extraction (-37.3%), agriculture, livestock, hunting and fishing (-6.2%) and manufacturing industry (-1.2%). The National Institute of Statistics also reports that imports in January reached $565.4 million, 27.7% less than in January last year.

500,000 vaccines from China to arrive to Santa Cruz on Wednesday

A plane carrying 500,000 vaccines from China's Sinopharm will arrive this Wednesday to Santa Cruz. Bolivia and China signed an agreement on 11 February for the acquisition of the vaccines. In addition to the vaccines, the aircraft is carrying syringes, medicines and five non-invasive respirators donated by a Chinese company in June 2020.

Bolivia seeks funding to complete the $20.8 mn El Alto-Yungas highway

The Bolivian Highway Administration (ABC) is seeking funding to complete the road that will connect El Alto with the Yungas region. The project began in 2013 and it was announced that it will require an investment of $20.8 million.

River swelling threatens 300,000 head of cattle in Beni

The swollen rivers in Beni, mainly in Mamoré, threaten 300,000 livestock and to date 850 properties have already been impacted, informed the treasurer of the Federación de Ganaderos de Beni (Fegabeni), Herlán Ojopi.

Bolivia to expand electricity production to more than 3,500 MW with six projects in 2021

The government announced that three wind farms and three combined cycle systems in thermoelectric plants will come on stream by the middle of this year, bringing electricity production to more than 3,500 MW. Bolivia's domestic electricity demand amounts to 1,600 MW.

Tin prices jumped 16.8% after reports that China is stockpiling the metal

Tin prices at the London Metal Exchange jumped 16.8% at the end of the session on Monday. The cost of the metal reached $29,625/t, up to $4,280. The three-month price ended at $24,385/t, which was a gain of $375 or 3.1%. That is a sign that the supply-demand situation is under strain as buyers tie up physical metal for immediate delivery. This development comes against a background of reports that China is stockpiling tin as part of its plan to become self-sufficient in semiconductors.

Bolivia registers 36,851 families affected by floods and flashfloods

Bolivia has registered 36,851 families affected by river overflows and floods in 74 municipalities in seven departments of the country, according to the Vice-Minister of Civil Defence, Juan Carlos Calvimontes. He added that the damage assessment included the registration of 34,080 hectares of affected crops, as well as 1,551 homes.