Browse a full set of economic indicators

Paraguay

Includes Paraguay real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector.

Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Paraguay economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of Paraguay best banks and safest banks are also available.

Basic Information

Government Type: Presidential republic

Capital City: Asuncion

GDP & Economic Information

Macroeconomy & Sovereign Data

Central Bank Central Bank of Paraguay
Currency Guarani (PYG)
International Reserves USD 7.7 billion (2018)
Gross Domestic Product – GDP USD 41.6 billion (2018, estimate)
GDP (Purchasing Power Parity) Intl$ 94.5 billion (2018, estimate)

GDP Data

Real GDP growth 2014 4.9%
2015 3.1%
2016 4.3%
2017* 5.0%
2018* 3.7%

*Estimate
GDP per capita – current prices USD 5,898.8 (2018, estimate)
GDP per capita – PPP Intl$ 13,395.3 (2018, estimate)
GDP (PPP) – share of world total 0.07% (2019, estimate)
GDP – composition by sector agriculture: 10.5%
industry: 33.6%
services: 48.4%
(2016 estimate)agriculture: 10.5%
industry: 33.6%
services: 48.4%
(2016 estimate)agriculture: 10.5%
industry: 33.6%
services: 48.4%
(2016 estimate)
Gross domestic expenditure on R&D; (% of GDP) N/A
Inflation 2014 3.1%
2015 4.1%
2016 3.6%
2017* 4.0%
2018* 3.5%

*Estimate

Inflation & Debt

Inflation 2014 3.1%
2015 4.1%
2016 3.6%
2017* 4.0%
2018* 3.5%

*Estimate
Government Bond Ratings Standard & Poor’s: BB

Moody’s: Ba1

Standard & Poor’s / Moody’s (Updated as of January 24th 2017)
Unemployment rate 2014 5.4%
2015 6.0%
2016 5.2%
2017* 5.6%
2018* 6.1%

*Estimate
Household saving rates N/A
Public debt (General government gross debt as a % of GDP) 2014 18.6%
2015 19.4%
2016 19.8%
2017* 21.5%
2018* 23.7%

*Estimate
Public deficit (General government net lending/borrowing as a % of GDP) 2014 -1.8%
2015 -0.4%
2016 -0.9%
2017* -1.3%
2018* -0.8%

*Estimate
Market value of publicly traded shares N/A
Largest Companies N/A

Import/Export

Exports as percent of GDP (Exports of goods and services) 35.7% (2018)
Shares in world total merchandising export 0.05% (2018)
Shares in world total commercial services export 0.02% (2018)
Total exports USD 14.4 billion (2018)
Export commodities Soybeans, livestock feed, cotton, meat, edible oils, wood, leather, gold
Total imports USD 13.9 billion (2018 estimate)
Import commodities Road vehicles, consumer goods, tobacco, petroleum products, electrical machinery, tractors, chemicals, vehicle parts
Exports – major partners Brazil 31.9%, Argentina 15.9%, Chile 6.9%, Russia 5.9% (2017)
Imports – major partners China 31.3%, Brazil 23.4%, Argentina 12.9%, US 7.4% (2017)

Competitiveness & Trade

Current account balance USD 0.2 billion (2018 estimate)
Current account balance by percentage of GDP 0.5 % (2018 estimate)
FDI inflows 2016 USD 371 million
2017 USD 456 million
2018 USD 454 million
FDI Outflows N/A
Value of cross-border M&A, by country of purchaser N/A


United Nations Conference on Trade and Development (UNCTAD) – World Investment Report
Cross-border M&A deals worth over $3 billion completed in 2014 N/A
Cross-border M&A deals worth over $3 billion completed in 2015 N/A
Best countries for doing business Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm.

Overall ranking: 125 out of 190 countries (2019

Subcategories:

Starting a Business: 160 out of 190 countries

Dealing with Construction Permits: 75 out of 190 countries

Getting Electricity: 109 out of 190 countries

Registering Property: 80 out of 190 countries

Getting Credit: 132 out of 190 countries

Protecting Minority Investors: 143 out of 190 countries

Paying Taxes: 126 out of 190 countries

Trading across Borders: 128 out of 190 countries

Enforcing Contracts: 72 out of 190 countries

Resolving Insolvency: 105 out of 190 countries

World Bank – Doing Business 2019
Global competitiveness ranking
97 out of 141 countries

(2019)
Index of Economic Freedom
Ranking: 85 / Score: 61.8 (Moderately free) (2016)

(100=totally free 0=totally repressed)

Population & Geographic Data

Total Area 406,752 sq km

Total Population 1990 4.14 million
2000 5.28 Million
2010 6.27 Million
2015 6.76 Million
2020 7.25 Million
Urban population as % of total population 1960 35.6%
1980 41.7%
2000 55.3%
2018 61.6%
Population median age 28.7
Population growth rate 1.17% (2018 estimate)
Life expectancy 77.6 years (2018 estimate)
% of population living on less than $3.10 a day 5.6% (last available estimate, 2017)
Inequality of wealth distribution (Gini index)
48.8 (last available estimate, 2017)

(0=perfect equality, 100=absolute inequality)
Freedom House rating Political Rights: 3
Civil Liberties: 3 (2019)

(1 represents the most free, 7 the least free rating)
Total telephone subscribers as % of population Fixed: 4.4% Mobile: 107% (2018) (fixed-telephone subscribers and mobile-cellular subscribers)
Internet users as % of total population 64.99 % (2018)

Language & Religon

Languages Spanish (official) and Guarani (official) 46.3%, only Guarani 34%, only Spanish 15.2%, other (includes Portuguese, German, other indigenous languages) 4.1% , no response .4% (2012 est.)
Literacy
Total population: 94.7%
Male: 95.5%
Female: 93.8%
Definition: age 15 and over can read and write (2016 est.)
Religions Roman Catholic 89.6%, Protestant 6.2%, other Christian 1.1%, other or unspecified 1.9%, none 1.1% (2002 census)

World Rankings

Population 7.25 million
Mercer Cost of living index Asunción: 186th (2019)
C02 Emissions per capita 0.86 metric tons per capita (2014)

Global Finance Rankings & Awards: Paraguay

Global Finance Magazine holds several conferences and awards ceremonies throughout the year to recognize the winning financial institutions and companies in a host of categories including World’s Best Trade Finance Banks, World's Biggest Banks, World's Safest Banks, World's Best Developed & Emerging Markets Banks, World's Best Internet Banks, and World’s Best Investment Banks.


Data Sources:

IMF World Economic Outlook

UN World Population Prospects

World Inequality Report

S&P Global Ratings

Moody’s

Fitch Ratings

IMF Direction of Trade Statistics (DOTS)

UN Conference on Trade and Development (UNCTAD)

CIA The World Factbook

World Bank’s World Integrated Trade Solution

Forbes Global 2000

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