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
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Trade & Investment
| Total Exports | USD 12.8 billion (2023) |
|---|---|
| Leading Exports |
Soybeans And Soybean Products Electricity Beef Corn Insulated Wiring |
| Total Imports | USD 10.0 billion (2022) |
| Leading Imports |
Broadcasting Equipment Cars Pesticides Refined Petroleum Tires |
| 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% |
Global Finance Rankings & Awards
Data Sources:
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