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Includes historical data for Paraguay’s Gross Domestic Product growth, debt-to-GDP ratio and more, as well as information on trade, banking and financial sector leadership.

One Of Latin America’s Fastest-Growing Economies

Guided by prudent fiscal and monetary policies and supported by a government that actively encourages private foreign investment, Paraguay has gradually transformed into one of Latin America’s fastest-growing economies. Exports of renewable energy and agricultural products like soy, corn and stevia fuel this expansion, with the retail and construction sectors contributing to the growth.

Paraguay, however, also grapples with systemic challenges such as high poverty, inequality and widespread corruption. Institutional weaknesses, inadequate infrastructure and a lack of skilled labor force hinder dynamic investment growth and the development of a more diversified private sector. Climatic hazards pose further concerns.

Macroeconomy & Sovereign Data

Type of Government Presidential republic
Capital Asuncion
Sovereign Ratings S&P: BB
Moody’s: Ba1
Fitch: BB+
Total Population 7.7 million
Median Age 26.5
Adult Per Capita Income (PPP) 21,569.74
Total GDP (2023) 45.8 billion

Paraguay GDP & Economic Overview

Most Recent Content

Banking & Finance

Trade & Investment

Total Exports USD 12.8 billion (2023)
Leading Exports Soybeans And Soybean Products
Insulated Wiring
Total Imports USD 10.0 billion (2022)
Leading Imports Broadcasting Equipment
Refined Petroleum
Source: World Integrated Trade Solution

Panama Leading Companies

Banco Nacional de Fomento (BNF) Financials
Banco Continental Financials
Telecel Telecommunication Services
Los Jardines Food & Staples Retailing
Cervecería Paraguaya Consumer Staples, Brewers
Grupo Rey Food & Staples Retailing
Cervecería Nacional Consumer Staples, Breweries

Major Trade Partners — Import

China 30%
Brazil 24%
Argentina 9%
United States 7%
India 3%

Major Trade Partners — Export

Brazil 34%
Argentina 25%
Chile 9%
Russia 7%
India 2%

Data Sources:

IMF World Economic Outlook

UN World Population Prospects

World Inequality Report

S&P Global Ratings


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