Bolivia's Stone Exports: A Global Trade Overview

Bolivia has a rich history of mining and exporting metals, with mining accounting for approximately 28% of the country's exports in 2017. Bolivia's mineral resources include zinc, lead, tin, gold, silver, copper, tungsten, sulfur, potassium, borax, and semi-precious stones. The country's mining sector has experienced fluctuations, with a decline in the 1980s due to the collapse of the world market for tin, but it has since rebounded, and mining activities contributed to 9% of Bolivia's GDP in 2017. Bolivia's exports include natural gas, zinc ores, gold, precious metal ores, and soybean products. While the export of metals previously dominated Bolivia's trade, natural gas has become a leading export, and the country is also a significant exporter of agricultural products, such as soybeans.

Semi-precious stones

Mining is a key feature of the Bolivian economy and has been since 1557. Bolivia's mineral resources are vast, and it is thought that only 10% of these have been extracted.

One of the country's most notable exports is ametrine, a semi-precious stone that is a naturally occurring variety of quartz and a mixture of amethyst and citrine. Ametrine features zones of purple and yellow or orange. The different colours are due to the oxidation states of iron within the crystal. The citrine segments have oxidised iron, while the amethyst segments are unoxidised. This differentiation occurs due to a temperature gradient across the crystal during its formation.

Ametrine is predominantly sourced from Bolivia's Anahi Mine, which first gained fame in the 17th century when it was part of a Spanish conquistador's dowry upon marrying an Ayoreos princess named Anahi. The mine yields stunning ametrine crystals, which are a rare phenomenon due to the unusual coexistence of amethyst and citrine colours in a single crystal.

Ametrine is used to create jewellery such as pendants, earrings, rings, and bracelets, which are available from retailers like Etsy.

Gold exports

Mining is a key feature of the Bolivian economy and politics, with a history spanning over 500 years. Gold is one of the principal metals mined in Bolivia, alongside zinc, lead, tin, silver, copper, tungsten, sulfur, potassium, borax, and semi-precious stones.

In 2022, Bolivia exported $3.01 billion worth of gold, making it the 28th largest exporter of gold in the world. The main destinations for Bolivian gold exports are India, the United Arab Emirates, Italy, Turkey, and Hong Kong. The value of gold exports to India alone was $2.26 billion in 2022.

Gold production in Bolivia has been increasing in recent years, with 53,286 kg of gold produced in 2022, up from 42,816 kg in 2021. This is the highest amount of gold produced in Bolivia since records began in 1990.

Gold prospecting in Bolivia's rivers and mines was brisk in the late 1980s, with over 300 cooperatives and about 10,000 prospectors involved in the trade. Due to Bolivia's vast territory and the high value of gold, contraband gold accounted for approximately 80% of exports at that time. Official gold exports were approximately five tons in 1988, up sharply from less than one ton in 1985.

Mining industry

Mining has been a dominant feature of the Bolivian economy and politics since 1557. It remains one of Bolivia's most important economic activities, accounting for approximately 28% of the country's exports or $2.2 billion in 2017. Bolivia has a long history of mining, with silver mining in the colonial era playing a critical role in the Spanish Empire and the global economy.

The mining industry in Bolivia is organized into three main sectors: the government-owned sector, small mining cooperatives, and medium and large-scale private enterprises. In recent years, the government of Evo Morales has re-nationalized several facilities, but as of 2010, most mining operations are in private hands, with the vast majority of miners working in cooperatives.

The principal metals and industrial minerals mined in Bolivia include zinc, lead, tin, gold, silver, copper, tungsten, sulfur, potassium, borax, and semi-precious stones. Bolivia also has the largest lithium deposits of any country, estimated to be about half of the world's supply. The government is seeking to capitalize on these deposits by partnering with international companies to develop environmentally friendly extraction technology.

The best sales prospects in the mining sector are machinery, equipment, and technology for medium-sized open-pit mines and small and medium-sized alluvial gold mining operations. Bolivia imports most of its machinery and equipment for the mining sector from international suppliers, including Brazil, Argentina, Mexico, the United States, Germany, France, the United Kingdom, Japan, and China.

Bolivian economy

Bolivia's economy is largely driven by its natural resources, and the country has become a regional leader in economic growth, fiscal stability, and foreign reserves. However, Bolivia remains a historically poor country with a low population growth rate and low life expectancy, which has kept the labour supply in flux and prevented industries from flourishing.

Mining

Mining has been a dominant feature of the Bolivian economy since 1557, and it currently accounts for approximately 9% of the country's GDP. Bolivia has large deposits of minerals and metals, including zinc, lead, tin, gold, silver, copper, tungsten, sulfur, potassium, borax, and semi-precious stones. Mining activities, particularly the extraction of natural gas and zinc, dominate Bolivia's export economy. In 2017, mining and quarrying activities contributed to about 9% of Bolivia's GDP, employing nearly 135,000 workers.

Agriculture and Forestry

Agriculture, forestry, and fishing accounted for 14% of Bolivia's GDP in 2003, but this figure has declined over time. These activities still employ nearly 44% of Bolivia's workers, mainly in subsistence farming, which is the dominant economic activity in the highlands region. Bolivia's most lucrative agricultural product is coca, of which Bolivia is the world's third-largest cultivator. However, the Bolivian government has worked to restrict coca cultivation due to international pressure. Since 2001, soybeans have been the country's leading legal agricultural export, with cotton, coffee, and sugarcane also being viable exports.

Manufacturing

Manufacturing accounts for approximately 18% of Bolivia's GDP. Leading manufactured goods include textiles, clothing, non-durable consumer goods, processed soy, refined metals, and refined petroleum. The processing of food, beverages, and tobacco is the biggest sector within the manufacturing industry.

Energy

Bolivia's energy needs are relatively small but consistently growing. The country relies mainly on oil for its power, followed by natural gas and hydroelectric power. Bolivia has the second-largest natural gas reserves in South America, and natural gas exports bring in millions of dollars per day.

Tourism

Bolivia's spectacular vistas and natural attractions have not been sufficient to make it a major tourist destination due to political instability and a lack of first-class accommodations. However, the country's tourism sector has gradually grown over the past 15 years.

Natural gas exports

Bolivia has been mining for over 500 years, and it remains one of the country's most important economic activities. Bolivia exports minerals such as zinc, lead, tin, gold, silver, copper, tungsten, sulfur, potassium, borax, and semi-precious stones. Mining accounted for approximately 28% of Bolivia's exports in 2017.

Natural gas is also one of Bolivia's main energy sources and export products. Bolivia's natural gas reserves are estimated to be 10.7 trillion cubic feet (as of 31 December 2017). Most of these reserves are located in the eastern region of the country, particularly in the states of Tarija, Santa Cruz, Cochabamba, and Chuquisaca. The major export pipelines transport gas to Argentina and Brazil. Bolivia's proven reserves of natural gas are estimated to be between 280 and 300.5 billion cubic meters. Bolivia's natural gas exports have fluctuated over the years, with an all-time high of 17,800.000 cubic meters in 2014 and a record low of 0.000 cubic meters in 1974.

In July 2024, President Luis Arce announced the discovery of a new natural gas and oil field in northern La Paz, named Mayaya X-1. This field is estimated to have around 1.7 trillion cubic meters of gas, with a market value of $6.8 billion. This discovery is expected to help revive Bolivia's gas industry and boost the country's position as an important gas exporter.

Frequently asked questions