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Paraguay Economy 2017
https://theodora.com/wfbcurrent/paraguay/paraguay_economy.html
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES











Paraguay Economy 2017
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on January 12, 2017

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 in 2010, and has been erratic, although positive, ever since. Severe drought and outbreaks of foot-and-mouth disease led to a drop in beef and other agricultural exports.In addition to the agricultural challenges, political uncertainty, corruption, limited progress on structural reform, and deficient infrastructure are the main obstacles to long-term growth.

GDP (purchasing power parity):
$64.12 billion (2016 est.) $61.94 billion (2015 est.) $60.09 billion (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 103
[see also: GDP country ranks ]

GDP (official exchange rate):
$27.32 billion (2015 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
3.5% (2016 est.) 3.1% (2015 est.) 4.7% (2014 est.)
country comparison to the world: 79
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$9,400 (2016 est.) $9,200 (2015 est.) $9,000 (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 141
[see also: GDP - per capita country ranks ]

Gross national saving:
16.5% of GDP (2016 est.) 15% of GDP (2015 est.) 15.8% of GDP (2014 est.)
country comparison to the world: 108
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 67.4%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 12.9%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 15.3%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 0.3%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 43.3%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -39.2% (2016 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 17.1%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 27.3%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 55.6% (2016 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

Agriculture - products:
cotton, sugarcane, soybeans, corn, wheat, tobacco, cassava (manioc, tapioca), fruits, vegetables; beef, pork, eggs, milk; timber

Industries:
sugar, cement, textiles, beverages, wood products, steel, base metals, electric power

Industrial production growth rate:
6.5% (2016 est.)
country comparison to the world: 22
[see also: Industrial production growth rate country ranks ]

Labor force:
3.291 million (2016 est.)
country comparison to the world: 101
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 26.5%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 18.5%
[see also: Labor force - by occupation - industry country ranks ]
services: 55% (2008)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
6.2% (2016 est.) 5.8% (2015 est.)
country comparison to the world: 68
[see also: Unemployment rate country ranks ]

Population below poverty line:
34.7% (2010 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 1%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 41.1% (2010 est.)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
53.2 (2009) 57.7 (1998)
country comparison to the world: 12
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $5.231 billion
[see also: Budget revenues country ranks ]
expenditures: $5.687 billion (2016 est.)
[see also: Budget expenditures country ranks ]

Taxes and other revenues:
19.1% of GDP (2016 est.)
country comparison to the world: 161
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-1.7% of GDP (2016 est.)
country comparison to the world: 63
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
22.4% of GDP (2016 est.) 21.1% of GDP (2015 est.)
country comparison to the world: 160
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
4.3% (2016 est.) 3.1% (2015 est.)
country comparison to the world: 167
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
5.5% (31 December 2012) 6% (31 December 2011)
country comparison to the world: 73
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
21% (31 December 2016 est.) 19.74% (31 December 2015 est.)
country comparison to the world: 16
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$4.39 billion (31 December 2016 est.) $3.974 billion (31 December 2015 est.)
country comparison to the world: 103
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$9.483 billion (31 December 2014 est.) $8.546 billion (31 December 2013 est.)
country comparison to the world: 107
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$13.94 billion (31 December 2016 est.) $12.06 billion (31 December 2015 est.)
country comparison to the world: 97
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$962.3 million (31 December 2012 est.) $958.1 million (31 December 2011 est.) $42 million (31 December 2010 est.)
country comparison to the world: 106
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
$172 million (2016 est.) -$462 million (2015 est.)
country comparison to the world: 45
[see also: Current account balance country ranks ]

Exports:
$11.91 billion (2016 est.) $11.17 billion (2015 est.)
country comparison to the world: 80
[see also: Exports country ranks ]

Exports - commodities:
soybeans, livestock feed, cotton, meat, edible oils, wood, leather

Exports - partners:
Brazil 31.7%, Russia 9.1%, Chile 7.1%, Argentina 7% (2015)

Imports:
$10.2 billion (2016 est.) $10.07 billion (2015 est.)
country comparison to the world: 94
[see also: Imports country ranks ]

Imports - commodities:
road vehicles, consumer goods, tobacco, petroleum products, electrical machinery, tractors, chemicals, vehicle parts

Imports - partners:
Brazil 25.4%, China 23.7%, Argentina 14.8%, US 7.9% (2015)

Reserves of foreign exchange and gold:
$6.059 billion (31 December 2016 est.) $5.939 billion (31 December 2015 est.)
country comparison to the world: 89
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$15.42 billion (31 December 2016 est.) $14.41 billion (31 December 2015 est.)
country comparison to the world: 100
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$7.114 billion (31 December 2016 est.) $6.41 billion (31 December 2015 est.)
country comparison to the world: 97
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$309 million (31 December 2016 est.) $259 million (31 December 2015 est.)
country comparison to the world: 92
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
guarani (PYG) per US dollar - 5,689.1 (2016 est.) 5,160.4 (2015 est.) 5,160.4 (2014 est.) 4,462.2 (2013 est.) 4,424.9 (2012 est.)


NOTE: The information regarding Paraguay on this page is re-published from the 2017 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Paraguay Economy 2017 information contained here. All suggestions for corrections of any errors about Paraguay Economy 2017 should be addressed to the CIA.




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