International trade is proving as an advantage for the growing economies. One such country is the Plurinational State of Bolivia, a landlocked country that is located in the central-western region of South America. The country’s population is about 11 million and races including Amerindians, Mestizos, Asians, Africans and Europeans are settled in the country, with a large number of people living in the country we can assume that the rate of imports are high.
According to the Bolivia import data, it ranks 105 in imports all over the globe and mainly imports transport equipment and machinery, chemicals, mineral fuels, steel, iron, and food products. Other imports include plastics, paper, automobiles, petroleum products, insecticides, aircraft parts, and aircraft. The major reasons to consider Bolivia as a country are, firstly the growing economy; the economy has grown up 4% over the years that has led to an increase of purchasing power and secondly Bolivian government is promoting foreign direct investment. There are various websites on the Internet that provide plenty of information about imports that can be of a good use before deciding on trading with the country.
Just like other countries, there are a few rules, regulations and documentation as a basic requirement by the country. Imports must have documents including the invoice, ocean/inland bill of lading, proof of insurance, certificate of pre-shipment, the list of expenditures, packing list, transport invoice, certification of origin and other certificates as needed. Where as for cargo shipments, the airway bill is required in place of the bill of lading. Bolivia import data help you understand why and how one must trade with the country, it is important to understand how to gain competitive advantage and use the best strategy to trade without any legal formalities being involved.