📊 Bolivia's Gold Presence

Is Bolivia too reliant on gold? We explore its export economy as the country is poised to surpass Colombia in production.

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Gold ⚒️

The Spanish Empire may have hoped to reach Asia when they landed on the shores of the Americas in the late fifteenth century, but they stayed upon realizing that this “new” land they had discovered was packed to the brim with natural resources.

And none of these resources excited them quite as much as gold.

The hunt for cheap sources of precious metals like gold (and its less shiny cousin, silver) was a major driver in the Spanish colonization of the Americas. So-called treasure fleets carrying gold back to Spain departed from Cartagena, Panama, and Veracruz and were the preferred targets of British pirates hoping to make a fortune while infuriating the Crown of Castille.

Bolivia is Now a Top 5 Gold Producer in LatAm

Which brings us to today. Gold remains a key commodity coming out of the region, a more or less consistent export as of late in a region which has seen huge fluctuations in the prices of other things like soy and petroleum.

Today the colonial-era mining heavyweights continue to dominate, with Peru and Mexico each producing over 120 tonnes per year. For reference, this figure puts them in the top 10 producers worldwide.