Bolivia: Fertilizer Market 2024

Fertilizer Market Size in Bolivia

After two years of decline, the Bolivian fertilizer market increased by X% to $X in 2023. In general, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2021 to 2023, the growth of the market failed to regain momentum.

Fertilizer Production in Bolivia

In value terms, fertilizer production rose slightly to $X in 2023 estimated in export price. Over the period under review, the total production indicated a notable increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2018 when the production volume increased by X%. Fertilizer production peaked at $X in 2019; however, from 2020 to 2023, production failed to regain momentum.

Fertilizer Exports

Exports from Bolivia

In 2023, after two years of growth, there was significant decline in shipments abroad of fertilizers, when their volume decreased by X% to X tons. In general, exports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The exports peaked at X tons in 2022, and then shrank rapidly in the following year.

In value terms, fertilizer exports shrank dramatically to $X in 2023. Overall, exports, however, recorded a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of X%. The exports peaked at $X in 2022, and then declined notably in the following year.

Exports by Country

Brazil (X tons) was the main destination for fertilizer exports from Bolivia, accounting for a X% share of total exports. Moreover, fertilizer exports to Brazil exceeded the volume sent to the second major destination, Paraguay (X tons), eightfold. The third position in this ranking was held by Chile (X tons), with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to Brazil stood at X.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Paraguay (X% per year) and Chile (X% per year).

In value terms, Brazil ($X) emerged as the key foreign market for fertilizers exports from Bolivia, comprising X% of total exports. The second position in the ranking was taken by Paraguay ($X), with a X% share of total exports. It was followed by Chile, with a X% share.

From 2012 to 2023, the average annual growth rate of value to Brazil totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Paraguay (X% per year) and Chile (X% per year).

Export Prices by Country

In 2023, the average fertilizer export price amounted to $X per ton, waning by X% against the previous year. In general, the export price showed a precipitous decline. The most prominent rate of growth was recorded in 2013 an increase of X%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2023, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Argentina ($X per ton), while the average price for exports to Chile ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Uruguay (X%), while the prices for the other major destinations experienced mixed trend patterns.

Fertilizer Imports

Imports into Bolivia

In 2023, purchases abroad of fertilizers decreased by X% to X tons, falling for the second year in a row after two years of growth. In general, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. Imports peaked at X tons in 2021; however, from 2022 to 2023, imports failed to regain momentum.

In value terms, fertilizer imports contracted dramatically to $X in 2023. Overall, total imports indicated mild growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. Imports peaked at $X in 2022, and then contracted notably in the following year.

Imports by Country

In 2023, Chile (X tons) constituted the largest supplier of fertilizer to Bolivia, accounting for a X% share of total imports. Moreover, fertilizer imports from Chile exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. Brazil (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2023, the average annual growth rate of volume from Chile stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Brazil (X% per year).

In value terms, the largest fertilizer suppliers to Bolivia were Chile ($X), China ($X) and Russia ($X), with a combined X% share of total imports. The United States, Brazil, Peru and Mexico lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, Mexico, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average fertilizer import price stood at $X per ton in 2023, waning by X% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2022 an increase of X%. As a result, import price attained the peak level of $X per ton, and then fell sharply in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Mexico ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform