Bolivia’s economy is typical of Latin America, with agriculture prominent and industry emerging. It has the fastest-growing economy of any nation in South America and natural gas makes up Bolivia’s main export, which it mainly trades with neighbours Argentina and Brazil.
Workers in Bolivia still experience relatively low wages, low development in terms of employment laws and worker’s rights, but increasing employment opportunities. This is due in part to foreign investment, with natural resources the number one reason for companies, many from the US, expanding in Bolivia. An experienced Bolivia payroll partner is a necessity in Bolivia, with corruption and complex business laws still a defining factor in the labour market.