Bolivia: Salt Market 2024

Salt Market Size in Bolivia

The Bolivian salt market surged to $X in 2022, with an increase of 30% against the previous year. Over the period under review, the total consumption indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -8.8% against 2020 indices. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Salt Production in Bolivia

In value terms, salt production rose markedly to $X in 2022 estimated in export price. Over the period under review, the total production indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -10.0% against 2020 indices. The pace of growth was the most pronounced in 2020 when the production volume increased by 45% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Salt Exports

Exports from Bolivia

After two years of growth, overseas shipments of salt and pure sodium chloride decreased by -24.2% to X tons in 2022. Overall, exports, however, enjoyed a buoyant increase. The pace of growth was the most pronounced in 2018 when exports increased by 49% against the previous year. The exports peaked at X tons in 2021, and then dropped markedly in the following year.

In value terms, salt exports contracted sharply to $X in 2022. In general, exports, however, continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2018 with an increase of 46%. The exports peaked at $X in 2021, and then dropped dramatically in the following year.

Exports by Country

Paraguay (X tons) was the main destination for salt exports from Bolivia, with a 64% share of total exports. Moreover, salt exports to Paraguay exceeded the volume sent to the second major destination, Peru (X tons), fourfold. Uruguay (X tons) ranked third in terms of total exports with a 6.2% share.

From 2012 to 2022, the average annual growth rate of volume to Paraguay totaled +8.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Peru (+72.1% per year) and Uruguay (+8.0% per year).

In value terms, Peru ($X), Paraguay ($X) and Japan ($X) constituted the largest markets for salt exported from Bolivia worldwide, with a combined 72% share of total exports.

In terms of the main countries of destination, Peru, with a CAGR of +70.2%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average salt export price amounted to $X per ton, surging by 9.8% against the previous year. In general, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of 31%. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+2.8%), while the prices for the other major destinations experienced mixed trend patterns.

Salt Imports

Imports into Bolivia

In 2022, salt imports into Bolivia expanded remarkably to X tons, growing by 8.5% against the previous year. Overall, imports posted a buoyant increase. The growth pace was the most rapid in 2013 with an increase of 138%. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, salt imports shrank rapidly to $X in 2022. In general, imports saw a buoyant increase. The most prominent rate of growth was recorded in 2013 with an increase of 168% against the previous year. Imports peaked at $X in 2021, and then shrank significantly in the following year.

Imports by Country

Denmark (X tons), Chile (X tons) and New Zealand (X tons) were the main suppliers of salt imports to Bolivia, together accounting for 74% of total imports. Germany, Brazil, China, Argentina and Colombia lagged somewhat behind, together accounting for a further 25%.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +125.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest salt suppliers to Bolivia were Chile ($X), Denmark ($X) and New Zealand ($X), with a combined 75% share of total imports. Germany, Brazil, China, Argentina and Colombia lagged somewhat behind, together accounting for a further 18%.

China, with a CAGR of +65.1%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average salt import price stood at $X per ton in 2022, which is down by -34.3% against the previous year. Over the period under review, the import price showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2020 when the average import price increased by 14%. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Colombia ($X per ton), while the price for Argentina ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Colombia (+18.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform