What industries are nationalized in Bolivia?

What industries are nationalized in Bolivia?

Since then, the left-wing government has led a wave of further nationalization, including that for mineral resources, electricity, telecommunications and other production sectors. The nationalization often happened by the state retrieving control over privatized state-owned enterprises.

When did Bolivia nationalize oil?

The decision to nationalize Bolivia’s oil and gas sector on May 1, 2006, has generated $31.5 billion for the public coffers over the past decade, the CEO of state energy company YPFB said Friday.

What was the unemployment rate in Bolivia during 2012?

Bolivia: Unemployment rate from 1999 to 2020

Characteristic Unemployment rate
2012 2.05%
2011 2.22%
2010 2.55%
2009 2.86%

Why is Bolivia a poor country?

Lack of human development is one of the main contributing factors to Bolivia’s poverty. This includes the high child mortality rate, high levels of chronic malnutrition, and a lack of equal and quality education.

What is Bolivia’s biggest export?

Bolivia’s Top 10 Exports

  • Gems, precious metals: US$2.9 billion (26.2% of total exports)
  • Ores, slag, ash: $2.6 billion (23.3%)
  • Mineral fuels including oil: $2.3 billion (21.2%)
  • Food industry waste, animal fodder: $734.6 million (6.7%)
  • Animal/vegetable fats, oils, waxes: $689.2 million (6.2%)
  • Tin: $507.4 million (4.6%)

Which country nationalized the oil industry in 2005?

Introduction. On his hundredth day in office, Bolivian President Evo Morales moved to nationalize his nation’s oil and gas reserves, ordering the military to occupy Bolivia’s gas fields and giving foreign investors a six-month deadline to comply with demands or leave.

What is the poverty line in Bolivia?

In Bolivia, using the $1.90 poverty line shows a non-negligible poverty level of 5.8 percent for 2017, among the highest in South America. Both the national and international poverty measures have shown a similar trend in the past.

Is Saudi Arabia oil nationalized?

Saudi Arabia’s government then decided to nationalise part of Aramco. It would increase its stake to 60% in 1974, before completing the nationalisation in 1980. All of Aramco’s oil rights, production apparatus, and facilities came under government control at that time.

Is Russian oil nationalized?

Russia’s oil and gas companies All oil trunk pipelines (except Caspian Pipeline Consortium) are owned and operated by the state-owned monopoly Transneft and oil products pipeline are owned and operated by its subsidiary Transnefteproduct.

Is Bolivia poor country?

Bolivia is the poorest country in South America. Although classified as middle income, it is at the very low end of the scale. Since 2006, the Government of Bolivia has introduced economic and social reforms designed to meet the basic needs of the poorest people.

How did Bolivia become so poor?