National cement production reached a record 4Mt in 2023, despite a noted decline in exports, according to the Bolivian Institute of Foreign Trade (IBCE). Santa Cruz contributed 27.4% to the total cement output, followed closely by La Paz with 26.8%, and Chuquisaca at 18.3%. According to Noticias Financieras News, this output is largely due to investments by cement companies in Santa Cruz, such as Itacamba’s US$220m investment in a new plant in 2016, which has a production capacity of 870,000t/yr. Other firms like Soboce and Fancesa have also invested in the region. The construction industry in Santa Cruz grew by 3% in 2023, although this was a decrease in growth rate compared to previous years.
