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 |
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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 |
Paraguay
Inflation & Debt
Inflation |
2014 3.1% 2015 4.1% 2016 3.6% 2017* 4.0% 2018* 3.5% *Estimate |
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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) |
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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) |
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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 |
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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.) |
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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 |
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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