unbekannter Gast

Paraguay: Economy#

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 at a 13% level in 2010, the highest in South America, but slowed in 2011-12 as the stimulus subsided and severe drought and outbreaks of foot-and-mouth disease led to a drop in beef and other agricultural exports. The economy took another leap in 2013, largely due to strong export growth. Political uncertainty, corruption, limited progress on structural reform, and deficient infrastructure are the main obstacles to long-term growth.

Economic Facts#

GDP (purchasing power parity)$45.9 billion (2013 est.)
$40.98 billion (2012 est.)
$41.49 billion (2011 est.)
note: data are in 2013 US dollars
GDP - real growth rate12% (2013 est.)
-1.2% (2012 est.)
4.3% (2011 est.)
GDP - per capita (PPP)$6,800 (2013 est.)
$6,100 (2012 est.)
$6,300 (2011 est.)
note: data are in 2013 US dollars
GDP - composition, by sector of originagriculture: 20.4%
industry: 17.7%
services: 61.9% (2013 est.)
Population below poverty line34.7% (2010 est.)
Household income or consumption by percentage sharelowest 10%: 1%
highest 10%: 41.1% (2010 est.)
Labor force - by occupationagriculture: 26.5%
industry: 18.5%
services: 55% (2008)
Exports - commoditiessoybeans, feed, cotton, meat, edible oils, wood, leather
Exports - partnersUruguay 17.7%, Brazil 16.4%, Argentina 15.6%, Russia 12% (2012)
Agriculture - productscotton, sugarcane, soybeans, corn, wheat, tobacco, cassava (manioc, tapioca), fruits, vegetables; beef, pork, eggs, milk; timber
Budgetrevenues: $5.788 billion
expenditures: $6.287 billion (2013 est.)
Imports - commoditiesroad vehicles, consumer goods, tobacco, petroleum products, electrical machinery, tractors, chemicals, vehicle parts
Imports - partnersBrazil 24.2%, China 19.5%, Argentina 18.3%, US 11.5% (2012)
Exchange ratesguarani (PYG) per US dollar -
4,315.1 (2013 est.)
4,424.9 (2012 est.)
4,735.5 (2010 est.)
4,965.4 (2009)
4,337.7 (2008)
Exports$14.7 billion (2013 est.)
$11.9 billion (2012 est.)
Debt - external$7.013 billion (31 December 2013 est.)
$5.985 billion (31 December 2012 est.)
Fiscal yearcalendar year
Imports$12.37 billion (2013 est.)
$11.06 billion (2012 est.)
Industrial production growth rate5.6% (2013 est.)
Industriessugar, cement, textiles, beverages, wood products, steel, base metals, electric power
Inflation rate (consumer prices)2.3% (2013 est.)
3.7% (2012 est.)
Labor force3.19 million (2013 est.)
Unemployment rate6.6% (2013 est.)
6.9% (2012 est.)
Distribution of family income - Gini index53.2 (2009)
57.7 (1998)
Public debt15.7% of GDP (2013 est.)
14.7% of GDP (2012 est.)
Current account balance$1.376 billion (2013 est.)
$115.6 million (2012 est.)
Reserves of foreign exchange and gold$6.336 billion (31 December 2013 est.)
$4.994 billion (31 December 2012 est.)
GDP (official exchange rate)$30.56 billion (2013 est.)
Stock of direct foreign investment - at home$4.526 billion (31 December 2013 est.)
$4.145 billion (31 December 2012 est.)
Stock of direct foreign investment - abroad$213.6 million (31 December 2013 est.)
$213.6 million (31 December 2012 est.)
Market value of publicly traded shares$962.3 million (31 December 2012 est.)
$958.1 million (31 December 2011)
$NA (31 December 2010 est.)
Central bank discount rate5.5% (31 December 2012 est.)
6% (31 December 2011 est.)
Commercial bank prime lending rate28.9% (31 December 2013 est.)
29.1% (31 December 2012 est.)
Stock of domestic credit$11 billion (31 December 2013 est.)
$9.747 billion (31 December 2012 est.)
Stock of narrow money$4.364 billion (31 December 2013 est.)
$4.135 billion (31 December 2012 est.)
Stock of broad money$8.215 billion (31 December 2013 est.)
$7.637 billion (31 December 2012 est.)
Taxes and other revenues18.9% of GDP (2013 est.)
Budget surplus (+) or deficit (-)-1.6% of GDP (2013 est.)
GDP - composition, by end usehousehold consumption: 67.1%
government consumption: 12.8%
investment in fixed capital: 16.9%
investment in inventories: 0.4%
exports of goods and services: 52.1%
imports of goods and services: -49.4%
(2013 est.)