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 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.

Economic Facts#

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
GDP (official exchange rate)$27.32 billion (2015 est.)
GDP - real growth rate3.5% (2016 est.)
3.1% (2015 est.)
4.7% (2014 est.)
GDP - per capita (PPP)$9,400 (2016 est.)
$9,200 (2015 est.)
$9,000 (2014 est.)
note: data are in 2016 dollars
Gross national saving16.5% of GDP (2016 est.)
15% of GDP (2015 est.)
15.8% of GDP (2014 est.)
GDP - composition, by end usehousehold consumption: 67.4%
government consumption: 12.9%
investment in fixed capital: 15.3%
investment in inventories: 0.3%
exports of goods and services: 43.3%
imports of goods and services: -39.2% (2016 est.)
GDP - composition, by sector of originagriculture: 17.1%
industry: 27.3%
services: 55.6% (2016 est.)
Agriculture - productscotton, sugarcane, soybeans, corn, wheat, tobacco, cassava (manioc, tapioca), fruits, vegetables; beef, pork, eggs, milk; timber
Industriessugar, cement, textiles, beverages, wood products, steel, base metals, electric power
Industrial production growth rate6.5% (2016 est.)
Labor force3.291 million (2016 est.)
Labor force - by occupationagriculture: 26.5%
industry: 18.5%
services: 55% (2008)
Unemployment rate6.2% (2016 est.)
5.8% (2015 est.)
Population below poverty line34.7% (2010 est.)
Household income or consumption by percentage sharelowest 10%: 1%
highest 10%: 41.1% (2010 est.)
Distribution of family income - Gini index53.2 (2009)
57.7 (1998)
Budgetrevenues: $5.231 billion
expenditures: $5.687 billion (2016 est.)
Taxes and other revenues19.1% of GDP (2016 est.)
Budget surplus (+) or deficit (-)-1.7% of GDP (2016 est.)
Public debt22.4% of GDP (2016 est.)
21.1% of GDP (2015 est.)
Fiscal yearcalendar year
Inflation rate (consumer prices)4.3% (2016 est.)
3.1% (2015 est.)
Central bank discount rate5.5% (31 December 2012)
6% (31 December 2011)
Commercial bank prime lending rate21% (31 December 2016 est.)
19.74% (31 December 2015 est.)
Stock of narrow money$4.39 billion (31 December 2016 est.)
$3.974 billion (31 December 2015 est.)
Stock of broad money$9.483 billion (31 December 2014 est.)
$8.546 billion (31 December 2013 est.)
Stock of domestic credit$13.94 billion (31 December 2016 est.)
$12.06 billion (31 December 2015 est.)
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.)
Current account balance$172 million (2016 est.)
-$462 million (2015 est.)
Exports$11.91 billion (2016 est.)
$11.17 billion (2015 est.)
Exports - commoditiessoybeans, livestock feed, cotton, meat, edible oils, wood, leather
Exports - partnersBrazil 31.7%, Russia 9.1%, Chile 7.1%, Argentina 7% (2015)
Imports$10.2 billion (2016 est.)
$10.07 billion (2015 est.)
Imports - commoditiesroad vehicles, consumer goods, tobacco, petroleum products, electrical machinery, tractors, chemicals, vehicle parts
Imports - partnersBrazil 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.)
Debt - external$15.42 billion (31 December 2016 est.)
$14.41 billion (31 December 2015 est.)
Stock of direct foreign investment - at home$7.114 billion (31 December 2016 est.)
$6.41 billion (31 December 2015 est.)
Stock of direct foreign investment - abroad$309 million (31 December 2016 est.)
$259 million (31 December 2015 est.)
Exchange ratesguarani (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.)