Bolivian Economy
Bolivia’s economic standing is not an impressive one when compared globally to all of the other major economies. They lie on the low end of the scale in both their region, South America, as well as globally. According to the rankings, Bolivia is the 95th largest economy in the world in nominal terms.
The economy of Bolivia is not a complicated one. The country has a historic pattern of single-commodity focus. With the economy being so one dimensional, when a commodity becomes temporarily scarce it can severely affect the economy in a bad way. This forces the government to cut funding to critical public establishments that need funding, such as the education system. |