Economy - overview:
Landlocked Paraguay has a market economy distinguished by a large informal sector, featuring re-export of imported consumer goods to neighboring countries, as well as the activities of thousands of microenterprises and urban street vendors. A large percentage of the population, especially in rural areas, derives its living from agricultural activity, often on a subsistence basis. Because of the importance of the informal sector, accurate economic measures are difficult to obtain. On a per capita basis, real income has stagnated at 1980 levels. The economy grew rapidly between 2003 and 2008 as growing world demand for commodities combined with high prices and favorable weather to support Paraguay's commodity-based export expansion. Paraguay is the sixth largest soy producer in the world. Drought hit in 2008, reducing agricultural exports and slowing the economy even before the onset of the global recession. The economy fell 3.8% in 2009, as lower world demand and commodity prices caused exports to contract. The government reacted by introducing fiscal and monetary stimulus packages. Growth resumed at a 13% level in 2010, the highest in South America, but slowed in 2011-12 as the stimulus subsided and severe drought and outbreaks of foot-and-mouth disease led to a drop in beef and other agricultural exports. The economy took another leap in 2013, largely due to strong export growth. Political uncertainty, corruption, limited progress on structural reform, and deficient infrastructure are the main obstacles to long-term growth.
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): GDP - composition, by end use:
GDP - composition, by sector of origin:
Agriculture - products: Industries: Industrial production growth rate: Labor force: Labor force - by occupation:
Unemployment rate: Population below poverty line: Household income or consumption by percentage share:
Distribution of family income - Gini index: Budget:
Taxes and other revenues: Budget surplus (+) or deficit (-): Public debt: Fiscal year: Inflation rate (consumer prices): Central bank discount rate: Commercial bank prime lending rate: Stock of narrow money: Stock of broad money: Stock of domestic credit: Market value of publicly traded shares: Current account balance: Exports: Exports - commodities: Exports - partners: Imports: Imports - commodities: Imports - partners: Reserves of foreign exchange and gold: Debt - external: Stock of direct foreign investment - at home: Stock of direct foreign investment - abroad: Exchange rates:
$45.9 billion (2013 est.)
country comparison to the world: 100
$40.98 billion (2012 est.)
$41.49 billion (2011 est.)
note:
data are in 2013 US dollars
[see also: GDP country ranks ]
$30.56 billion (2013 est.)
[see also: GDP (official exchange rate) country ranks ]
12% (2013 est.)
country comparison to the world: 4
-1.2% (2012 est.)
4.3% (2011 est.)
[see also: GDP - real growth rate country ranks ]
$6,800 (2013 est.)
country comparison to the world: 143
$6,100 (2012 est.)
$6,300 (2011 est.)
note:
data are in 2013 US dollars
[see also: GDP - per capita country ranks ]
household consumption:
67.1%
government consumption:
12.8%
investment in fixed capital:
16.9%
investment in inventories:
0.4%
exports of goods and services:
52.1%
imports of goods and services:
-49.4%
(2013 est.)
agriculture:
20.4%
industry:
17.7%
services:
61.9% (2013 est.)
cotton, sugarcane, soybeans, corn, wheat, tobacco, cassava (manioc, tapioca), fruits, vegetables; beef, pork, eggs, milk; timber
sugar, cement, textiles, beverages, wood products, steel, base metals, electric power
5.6% (2013 est.)
country comparison to the world: 47
[see also: Industrial production growth rate country ranks ]
3.19 million (2013 est.)
country comparison to the world: 102
[see also: Labor force country ranks ]
agriculture:
26.5%
industry:
18.5%
services:
55% (2008)
6.6% (2013 est.)
country comparison to the world: 69
6.9% (2012 est.)
[see also: Unemployment rate country ranks ]
34.7% (2010 est.)
[see also: Population below poverty line country ranks ]
lowest 10%:
1%
highest 10%:
41.1% (2010 est.)
53.2 (2009)
country comparison to the world: 13
57.7 (1998)
[see also: Distribution of family income - Gini index country ranks ]
revenues:
$5.788 billion
expenditures:
$6.287 billion (2013 est.)
18.9% of GDP (2013 est.)
country comparison to the world: 172
[see also: Taxes and other revenues country ranks ]
-1.6% of GDP (2013 est.)
country comparison to the world: 74
[see also: Budget surplus (+) or deficit (-) country ranks ]
15.7% of GDP (2013 est.)
country comparison to the world: 142
14.7% of GDP (2012 est.)
[see also: Public debt country ranks ]
calendar year
2.3% (2013 est.)
country comparison to the world: 86
3.7% (2012 est.)
[see also: Inflation rate (consumer prices) country ranks ]
5.5% (31 December 2012 est.)
country comparison to the world: 61
6% (31 December 2011 est.)
[see also: Central bank discount rate country ranks ]
28.9% (31 December 2013 est.)
country comparison to the world: 5
29.1% (31 December 2012 est.)
[see also: Commercial bank prime lending rate country ranks ]
$4.364 billion (31 December 2013 est.)
country comparison to the world: 107
$4.135 billion (31 December 2012 est.)
[see also: Stock of narrow money country ranks ]
$8.215 billion (31 December 2013 est.)
country comparison to the world: 111
$7.637 billion (31 December 2012 est.)
[see also: Stock of broad money country ranks ]
$11 billion (31 December 2013 est.)
country comparison to the world: 96
$9.747 billion (31 December 2012 est.)
[see also: Stock of domestic credit country ranks ]
$962.3 million (31 December 2012 est.)
country comparison to the world: 99
$958.1 million (31 December 2011)
$NA (31 December 2010 est.)
[see also: Market value of publicly traded shares country ranks ]
$1.376 billion (2013 est.)
country comparison to the world: 46
$115.6 million (2012 est.)
[see also: Current account balance country ranks ]
$14.7 billion (2013 est.)
country comparison to the world: 81
$11.9 billion (2012 est.)
[see also: Exports country ranks ]
soybeans, feed, cotton, meat, edible oils, wood, leather
Uruguay 17.7%, Brazil 16.4%, Argentina 15.6%, Russia 12% (2012)
$12.37 billion (2013 est.)
country comparison to the world: 93
$11.06 billion (2012 est.)
[see also: Imports country ranks ]
road vehicles, consumer goods, tobacco, petroleum products, electrical machinery, tractors, chemicals, vehicle parts
Brazil 24.2%, China 19.5%, Argentina 18.3%, US 11.5% (2012)
$6.336 billion (31 December 2013 est.)
country comparison to the world: 86
$4.994 billion (31 December 2012 est.)
[see also: Reserves of foreign exchange and gold country ranks ]
$7.013 billion (31 December 2013 est.)
country comparison to the world: 108
$5.985 billion (31 December 2012 est.)
[see also: Debt - external country ranks ]
$4.526 billion (31 December 2013 est.)
country comparison to the world: 91
$4.145 billion (31 December 2012 est.)
[see also: Stock of direct foreign investment - at home country ranks ]
$213.6 million (31 December 2013 est.)
country comparison to the world: 83
$213.6 million (31 December 2012 est.)
[see also: Stock of direct foreign investment - abroad country ranks ]
guarani (PYG) per US dollar -
4,315.1 (2013 est.)
4,424.9 (2012 est.)
4,735.5 (2010 est.)
4,965.4 (2009)
4,337.7 (2008)