Paraguay - Economic Indicators

Economic 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 grown steadily over the past decade. The economy grew rapidly...

Continue reading View Factbook for Paraguay

GDP Reference Last Previous Units Frequency
Real Government Consumption 2017 2,694,305,912,700 2,654,488,583,900 NCU Annual
Real Investment 2017 6,943,430,437,300 6,227,291,872,000 NCU Annual
Real Fixed Investment (gross fixed capital formation) 2017 6,525,490,736,400 5,852,458,059,500 NCU Annual
Nominal Fixed Investment (gross fixed capital formation) 2017 31,573,869,986,800 27,455,539,118,900 NCU Annual
Private Consumption 2016 100,735,587,057,411 96,140,859,942,185 PYG Annual
Nominal Gross Domestic Product 2016 155,602,567,308,299 142,003,380,420,460 PYG Annual
Investment 2016 27,483,182,901,658 23,286,207,693,630 PYG Annual
Real Gross Domestic Product 2016 Q4 139.54 128.86 Index 2005=100 Quarterly
Government Consumption 2016 18,446 18,148 Bil. PYG Annual
Price Reference Last Previous Units Frequency
Consumer Price Index (CPI) Jun 2018 140.02 139.06 2010=100, NSA Monthly
Producer Price Index (PPI) May 2018 135.62 135.28 2010=100, NSA Monthly
Wholesale Price Index 1995 100 Index 2010 = 100 Annual
Labor Reference Last Previous Units Frequency
Agriculture Employment 2017 717,725 708,631 # Annual
Wage & Salaries 2017 16,980,370,981,135 16,207,008,599,449 NCU Annual
Labor Force 2016 3,323,173 3,227,150 # Annual
Unemployment Rate 2015 6.85 8.02 % Annual
Labor Force Employment 2015 1,340 1,272 Ths. Annual
Total Employment 2015 Q4 1,336 1,343 Ths. Quarterly
Unemployment 2015 98.51 110.96 Ths. Annual
Trade Reference Last Previous Units Frequency
Balance of Goods 2018 Q1 42,443,080 -309,438,311 USD, NSA Quarterly
Imports of Goods 2018 Q1 2,978,800,000 3,186,100,000 USD, NSA Quarterly
Current Account Balance 2018 Q1 -113,812,742 -441,701,608 USD, NSA Quarterly
Exports of Goods 2018 Q1 3,021,243,080 2,876,661,689 USD, NSA Quarterly
Real Imports of Goods and Services 2017 15,766,870,408,800 14,268,661,003,400 NCU Annual
Real Exports of Goods and Services 2017 18,080,743,790,400 16,977,224,216,300 NCU Annual
Exports of Goods and Services 2016 68,003,155,446,775 61,191,442,105,788 PYG Annual
Imports of Goods and Services 2016 61,762,825,290,445 59,443,853,730,215 PYG Annual
Government Reference Last Previous Units Frequency
Gross External Debt 2017 Q3 0 0 USD, NSA Quarterly
Markets Reference Last Previous Units Frequency
Lending Rate Jun 2017 5.5 5.5 % - End of period Monthly
Money Market Rate Mar 2017 6.3 6.3 % p.a., NSA Monthly
Business Reference Last Previous Units Frequency
Real Change in Inventories 2017 417,939,700,900 374,833,812,500 NCU Annual
Change in Inventories 2017 634,440,564,300 502,097,189,200 NCU Annual
Demographics Reference Last Previous Units Frequency
Population 2017 6,811,297 6,725,308 # Annual
Death Rate 2016 5.73 5.68 # per Ths. pop. Annual
Birth Rate 2016 20.95 21.15 # per Ths. pop. Annual
Net Migration 2012 -86,700 # Annual

Factbook

Background

Background:
Paraguay achieved its independence from Spain in 1811. In the disastrous War of the Triple Alliance (1865-70) - between Paraguay and Argentina, Brazil, and Uruguay - Paraguay lost two-thirds of its adult males and much of its territory. The country stagnated economically for the next half century. Following the Chaco War of 1932-35 with Bolivia, Paraguay gained a large part of the Chaco lowland region. The 35-year military dictatorship of Alfredo STROESSNER ended in 1989, and Paraguay has held relatively free and regular presidential elections since the country's return to democracy.

Geography

Location:
Central South America, northeast of Argentina, southwest of Brazil
Geographic coordinates:
23 00 S, 58 00 W
Map references:
South America
Area:
total: 406,752 sq km
land: 397,302 sq km
water: 9,450 sq km
country comparison to the world: 61
Area - comparative:
about three times the size of New York state; slightly smaller than California
Land boundaries:
total: 4,655 km
border countries (3): Argentina 2,531 km, Bolivia 753 km, Brazil 1,371 km
Coastline:
0 km (landlocked)
Maritime claims:
none (landlocked)
Climate:
subtropical to temperate; substantial rainfall in the eastern portions, becoming semiarid in the far west
Terrain:
grassy plains and wooded hills east of Rio Paraguay; Gran Chaco region west of Rio Paraguay mostly low, marshy plain near the river, and dry forest and thorny scrub elsewhere
Elevation:
mean elevation: 178 m
elevation extremes: lowest point: junction of Rio Paraguay and Rio Parana 46 m
highest point: Cerro Pero 842 m
Natural resources:
hydropower, timber, iron ore, manganese, limestone
Land use:
agricultural land: 53.8%
arable land 10.8%; permanent crops 0.2%; permanent pasture 42.8%
forest: 43.8%
other: 2.4% (2011 est.)
Irrigated land:
1,362 sq km (2012)
Population - distribution:
most of the population resides in the eastern half of the country; to the west lies the Gran Chaco (a semi-arid lowland plain), which accounts for 60% of the land territory, but only 2% of the overall population
Natural hazards:
local flooding in southeast (early September to June); poorly drained plains may become boggy (early October to June)
Environment - current issues:
deforestation; water pollution; inadequate means for waste disposal pose health risks for many urban residents; loss of wetlands
Environment - international agreements:
party to: Biodiversity, Climate Change, Climate Change-Kyoto Protocol, Desertification, Endangered Species, Hazardous Wastes, Law of the Sea, Ozone Layer Protection, Wetlands
signed, but not ratified: none of the selected agreements
Geography - note:
landlocked; lies between Argentina, Bolivia, and Brazil; population concentrated in eastern and southern part of country

People & Society

Population:
6,943,739 (July 2017 est.)
country comparison to the world: 104
Nationality:
noun: Paraguayan(s)
adjective: Paraguayan
Ethnic groups:
mestizo (mixed Spanish and Amerindian) 95%, other 5%
Languages:
Spanish (official), Guarani (official)
Religions:
Roman Catholic 89.6%, Protestant 6.2%, other Christian 1.1%, other or unspecified 1.9%, none 1.1% (2002 census)
Demographic profile:
Paraguay falls below the Latin American average in several socioeconomic categories, including immunization rates, potable water, sanitation, and secondary school enrollment, and has greater rates of income inequality and child and maternal mortality. Paraguay's poverty rate has declined in recent years but remains high, especially in rural areas, with more than a third of the population below the poverty line. However, the well-being of the poor in many regions has improved in terms of housing quality and access to clean water, telephone service, and electricity. The fertility rate continues to drop, declining sharply from an average 4.3 births per woman in the late 1990s to about 2 in 2013, as a result of the greater educational attainment of women, increased use of contraception, and a desire for smaller families among young women.
Paraguay is a country of emigration; it has not attracted large numbers of immigrants because of political instability, civil wars, years of dictatorship, and the greater appeal of neighboring countries. Paraguay first tried to encourage immigration in 1870 in order to rebound from the heavy death toll it suffered during the War of the Triple Alliance, but it received few European and Middle Eastern immigrants. In the 20th century, limited numbers of immigrants arrived from Lebanon, Japan, South Korea, and China, as well as Mennonites from Canada, Russia, and Mexico. Large flows of Brazilian immigrants have been arriving since the 1960s, mainly to work in agriculture. Paraguayans continue to emigrate to Argentina, Brazil, Uruguay, the United States, Italy, Spain, and France.
Age structure:
0-14 years: 24.56% (male 867,854/female 837,480)
15-24 years: 19.29% (male 673,354/female 666,053)
25-54 years: 41.08% (male 1,426,941/female 1,425,279)
55-64 years: 7.95% (male 281,388/female 270,939)
65 years and over: 7.12% (male 232,011/female 262,440) (2017 est.)
population pyramid:
Dependency ratios:
total dependency ratio: 56.6
youth dependency ratio: 47.2
elderly dependency ratio: 9.4
potential support ratio: 10.6 (2015 est.)
Median age:
total: 28.2 years
male: 28 years
female: 28.5 years (2017 est.)
country comparison to the world: 135
Population growth rate:
1.18% (2017 est.)
country comparison to the world: 94
Birth rate:
16.6 births/1,000 population (2017 est.)
country comparison to the world: 111
Death rate:
4.8 deaths/1,000 population (2017 est.)
country comparison to the world: 198
Net migration rate:
-0.1 migrant(s)/1,000 population (2017 est.)
country comparison to the world: 105
Population distribution:
most of the population resides in the eastern half of the country; to the west lies the Gran Chaco (a semi-arid lowland plain), which accounts for 60% of the land territory, but only 2% of the overall population
Urbanization:
urban population: 60.2% of total population (2017)
rate of urbanization: 2.02% annual rate of change (2015-20 est.)
Major urban areas - population:
ASUNCION (capital) 2.356 million (2015)
Sex ratio:
at birth: 1.04 male(s)/female
0-14 years: 1.04 male(s)/female
15-24 years: 1.01 male(s)/female
25-54 years: 1 male(s)/female
55-64 years: 1.04 male(s)/female
65 years and over: 0.88 male(s)/female
total population: 1.01 male(s)/female (2017 est.)
Mother's mean age at first birth:
22.9 years
note: median age at first birth among women 25-29 (2008 est.)
Maternal mortality ratio:
132 deaths/100,000 live births (2015 est.)
country comparison to the world: 64
Infant mortality rate:
total: 18.7 deaths/1,000 live births
male: 22.1 deaths/1,000 live births
female: 15.2 deaths/1,000 live births (2017 est.)
country comparison to the world: 86
Life expectancy at birth:
total population: 77.4 years
male: 74.7 years
female: 80.2 years (2017 est.)
country comparison to the world: 72
Total fertility rate:
1.9 children born/woman (2017 est.)
country comparison to the world: 134
Contraceptive prevalence rate:
79.4%
note: percent of women aged 15-44 (2008)
Health expenditures:
9.8% of GDP (2014)
country comparison to the world: 26
Physicians density:
1.29 physicians/1,000 population (2012)
Hospital bed density:
1.3 beds/1,000 population (2011)
Drinking water source:
improved:
urban: 100% of population
rural: 94.9% of population
total: 98% of population
unimproved:
urban: 0% of population
rural: 5.1% of population
total: 2% of population (2015 est.)
Sanitation facility access:
improved:
urban: 95.5% of population
rural: 78.4% of population
total: 88.6% of population
unimproved:
urban: 4.5% of population
rural: 21.6% of population
total: 11.4% of population (2015 est.)
HIV/AIDS - adult prevalence rate:
0.5% (2016 est.)
country comparison to the world: 65
HIV/AIDS - people living with HIV/AIDS:
19,000 (2016 est.)
country comparison to the world: 79
HIV/AIDS - deaths:
<1000 (2016 est.)
Major infectious diseases:
degree of risk: intermediate
food or waterborne diseases: bacterial diarrhea, hepatitis A, and typhoid fever
vectorborne disease: dengue fever
note: active local transmission of Zika virus by Aedes species mosquitoes has been identified in this country (as of August 2016); it poses an important risk (a large number of cases possible) among US citizens if bitten by an infective mosquito; other less common ways to get Zika are through sex, via blood transfusion, or during pregnancy, in which the pregnant woman passes Zika virus to her fetus (2016)
Obesity - adult prevalence rate:
20.3% (2016)
country comparison to the world: 100
Children under the age of 5 years underweight:
2.6% (2012)
country comparison to the world: 105
Education expenditures:
5% of GDP (2012)
country comparison to the world: 84
Literacy:
definition: age 15 and over can read and write
total population: 95.1%
male: 95.8%
female: 94.3% (2015 est.)
School life expectancy (primary to tertiary education):
total: 12 years
male: 12 years
female: 13 years (2010)
Unemployment, youth ages 15-24:
total: 13%
male: 11.5%
female: 12.3% (2015 est.)
country comparison to the world: 101

Government

Country name:
conventional long form: Republic of Paraguay
conventional short form: Paraguay
local long form: Republica del Paraguay
local short form: Paraguay
etymology: the precise meaning of the name Paraguay is unclear, but it seems to derive from the river of the same name; one explanation has the name meaning "water of the Payagua" (an indigenous tribe that lived along the river)
Government type:
presidential republic
Capital:
name: Asuncion
geographic coordinates: 25 16 S, 57 40 W
time difference: UTC-4 (1 hour ahead of Washington, DC, during Standard Time)
daylight saving time: +1hr, begins first Sunday in October; ends last Sunday in March
Administrative divisions:
17 departments (departamentos, singular - departamento) and 1 capital city*; Alto Paraguay, Alto Parana, Amambay, Asuncion*, Boqueron, Caaguazu, Caazapa, Canindeyu, Central, Concepcion, Cordillera, Guaira, Itapua, Misiones, Neembucu, Paraguari, Presidente Hayes, San Pedro
Independence:
14 May 1811 (from Spain)
National holiday:
Independence Day, 14-15 May (1811) (observed 15 May)
Constitution:
several previous; latest approved and promulgated 20 June 1992; amended 2011, 2014 (2016)
Legal system:
civil law system with influences from Argentine, Spanish, Roman, and French civil law models; judicial review of legislative acts in Supreme Court of Justice
International law organization participation:
accepts compulsory ICJ jurisdiction; accepts ICCt jurisdiction
Citizenship:
citizenship by birth: yes
citizenship by descent: at least one parent must be a native-born citizen of Paraguay
dual citizenship recognized: yes
residency requirement for naturalization: 3 years
Suffrage:
18 years of age; universal and compulsory until the age of 75
Executive branch:
chief of state: President Horacio CARTES Jara (since 15 August 2013); Vice President Juan AFARA Maciel (since 15 August 2013); note - the president is both chief of state and head of government
head of government: President Horacio CARTES Jara (since 15 August 2013); Vice President Juan AFARA Maciel (since 15 August 2013)
cabinet: Council of Ministers appointed by the president
elections/appointments: president and vice president directly elected on the same ballot by simple majority popular vote for a single 5-year term; election last held on 22 April 2018 (next to be held in April 2023)
election results: Mario Abdo BENITEZ elected president; percent of vote - Mario Abdo BENITEZ (ANR) 46.4%, Efrain ALEGRE (PLRA) 42.7%, Juan Bautista YBANEZ 3.3%, other 7.6%; note - BENITEZ will assume power in August 2018
Legislative branch:
description: bicameral National Congress or Congreso Nacional consists of the Chamber of Senators or Camara de Senadores (45 seats; members directly elected in a single nationwide constituency by proportional representation vote to serve 5-year terms) and the Chamber of Deputies or Camara de Diputados (80 seats; members directly elected in 18 multi-seat constituencies - corresponding to the country's 17 departments and capital city - by proportional representation vote to serve 5-year terms)
elections: Chamber of Senators - last held on 21 April 2013 (next to be held in April 2018); Chamber of Deputies - last held on 21 April 2013 (next to be held in April 2018)
election results: Chamber of Senators - percent of vote by party/coalition - ANR 38.5%, PLRA 26.2%, FG 10.6%, PDP 6.4%, Avanza Pais 5.2%, UNACE 4%, PEN 3.5%, PPQ 2%, other 3.4%; seats by party/coalition - ANR 19, PLRA 13, FG 5, PDP 3, Avanza Pais 2, UNACE 2, PEN 1, PPQ 1; Chamber of Deputies - percent of vote by party/coalition - NA; seats by party/coalition - ANR 44, PLRA 27, Avanza Pais 2, PEN 2, UNACE 2, FG 1, PPQ 1, other 1
Judicial branch:
highest court(s): Supreme Court of Justice or Corte Suprema de Justicia (consists of 9 justices divided 3 each into the Constitutional Court, Civil and Commercial Chamber, and Criminal Division
judge selection and term of office: justices proposed by the Council of Magistrates or Consejo de la Magistratura, a 6-member independent body, and appointed by the Chamber of Senators with presidential concurrence; judges appointed until mandatory retirement at age 75
subordinate courts: appellate courts; first instance courts; minor courts, including justices of the peace
Political parties and leaders:
Asociacion Nacional Republicana - Colorado Party or ANR [Pedro ALLIANA]
Avanza Pais coalition or AP [Adolfo FERREIRO]
Broad Front coalition (Frente Guasu) or FG [Esperanza MARTINEZ]
Movimiento Union Nacional de Ciudadanos Eticos or UNACE [Jorge OVIEDO MATTO]
Partido del Movimiento al Socialismo or P-MAS [Camilo Ernesto SOARES Machado]
Partido Democratica Progresista or PDP [Rafael FILIZZOLA]
Partido Encuentro Nacional or PEN [Hermann RATZLAFFIN Klippemstein]
Partido Liberal Radical Autentico or PLRA [Efrain ALEGRE]
Partido Pais Solidario or PPS [Carlos Alberto FILIZZOLA Pallares]
Partido Popular Tekojoja or PPT [Sixto PEREIRA Galeano]
Patria Querida (Beloved Fatherland Party) or PPQ [Miguel CARRIZOSA]
Political pressure groups and leaders:
Ahorristas Estafados or AE
National Coordinating Board of Campesino Organizations or MCNOC [Luis AGUAYO]
National Federation of Campesinos or FNC [Marcial GOMEZ]
National Workers Central or CNT [Secretary General Juan TORALES]
Paraguayan Workers Confederation or CPT
Roman Catholic Church
Unitary Workers Central or CUT [Jorge Guzman ALVARENGA Malgarejo]
International organization participation:
CAN (associate), CD, CELAC, FAO, G-11, G-77, IADB, IAEA, IBRD, ICAO, ICC (national committees), ICCt, ICRM, IDA, IFAD, IFC, IFRCS, ILO, IMF, IMO, Interpol, IOC, IOM, IPU, ISO (correspondent), ITSO, ITU, ITUC (NGOs), LAES, LAIA, Mercosur, MIGA, MINURSO, MINUSTAH, MONUSCO, NAM (observer), OAS, OPANAL, OPCW, Pacific Alliance (observer), PCA, UN, UNASUR, UNCTAD, UNESCO, UNFICYP, UNIDO, Union Latina, UNISFA, UNMIL, UNMISS, UNOCI, UNWTO, UPU, WCO, WHO, WIPO, WMO, WTO
Diplomatic representation in the US:
chief of mission: Ambassador German Hugo ROJAS Irigoyen (since 28 December 2016)
chancery: 2400 Massachusetts Avenue NW, Washington, DC 20008
telephone: [1] (202) 483-6960 through 6962
FAX: [1] (202) 234-4508
consulate(s) general: Los Angeles, Miami, New York
Diplomatic representation from the US:
chief of mission: Ambassador (vacant); Charge d'Affaires Hugo F. RODRIGUES, Jr. (since 20 January 2017)
embassy: 1776 Avenida Mariscal Lopez, Casilla Postal 402, Asuncion
mailing address: Unit 4711, DPO AA 34036-0001
telephone: [595] (21) 213-715
FAX: [595] (21) 213-728
Flag description:
three equal, horizontal bands of red (top), white, and blue with an emblem centered in the white band; unusual flag in that the emblem is different on each side; the obverse (hoist side at the left) bears the national coat of arms (a yellow five-pointed star within a green wreath capped by the words REPUBLICA DEL PARAGUAY, all within two circles); the reverse (hoist side at the right) bears a circular seal of the treasury (a yellow lion below a red Cap of Liberty and the words PAZ Y JUSTICIA (Peace and Justice)); red symbolizes bravery and patriotism, white represents integrity and peace, and blue denotes liberty and generosity
note: the three color bands resemble those on the flag of the Netherlands; one of only three national flags that differ on their obverse and reverse sides - the others are Moldova and Saudi Arabia
National symbol(s):
lion; national colors: red, white, blue
National anthem:
name: "Paraguayos, Republica o muerte!" (Paraguayans, The Republic or Death!)
lyrics/music: Francisco Esteban ACUNA de Figueroa/disputed
note: adopted 1934, in use since 1846; officially adopted following its re-arrangement in 1934

Economy

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 grown steadily over the past decade. The economy grew rapidly between 2003 and 2008 as strong world demand for commodities, combined with high prices and favorable weather, supported 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. Severe drought and outbreaks of hoof-and-mouth disease in 2012 led to a brief drop in beef and other agricultural exports. Since 2014, however, Paraguay’s economy has grown at a 4% average annual rate due to strong production and high global prices, at a time when other countries in the region have contracted.
The Paraguayan Government recognizes the need to diversify its economy and has taken steps in recent years to do so. In addition to looking for new commodity markets in the Middle East and Europe, Paraguayan officials have promoted the country’s low labor costs, cheap energy from its massive Itaipu Hydroelectric Dam, and single-digit tax rate on foreign firms. As a result, the number of factories operating in the country – mostly transplants from Brazil - has tripled since 2014.
Political uncertainty, corruption, limited progress on structural reform, and deficient infrastructure are the main obstacles to long-term growth. Paraguay has been adverse to public debt throughout its history, but has recently changed its anti-debt policies to finance infrastructure improvements to attract foreign investment. Judicial corruption is endemic and is seen as the greatest barrier to attracting more foreign investment.
GDP (purchasing power parity):
$68.05 billion (2017 est.)
$65.51 billion (2016 est.)
$62.93 billion (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 103
GDP (official exchange rate):
$28.78 billion (2017 est.)
GDP - real growth rate:
3.9% (2017 est.)
4.1% (2016 est.)
3% (2015 est.)
country comparison to the world: 77
GDP - per capita (PPP):
$9,800 (2017 est.)
$9,600 (2016 est.)
$9,300 (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 140
Gross national saving:
20.9% of GDP (2017 est.)
19.7% of GDP (2016 est.)
15.8% of GDP (2015 est.)
country comparison to the world: 84
GDP - composition, by end use:
household consumption: 66.6%
government consumption: 11.7%
investment in fixed capital: 17.2%
investment in inventories: 0.3%
exports of goods and services: 44.5%
imports of goods and services: -40.2% (2017 est.)
GDP - composition, by sector of origin:
agriculture: 17.9%
industry: 27.7%
services: 54.5% (2017 est.)
Agriculture - products:
cotton, sugarcane, soybeans, corn, wheat, tobacco, cassava (manioc, tapioca), fruits, vegetables; beef, pork, eggs, milk; timber
Industries:
sugar processing, cement, textiles, beverages, wood products, steel, base metals, electric power
Industrial production growth rate:
6% (2017 est.)
country comparison to the world: 35
Labor force:
3.428 million (2017 est.)
country comparison to the world: 102
Labor force - by occupation:
agriculture: 26.5%
industry: 18.5%
services: 55% (2008 est.)
Unemployment rate:
6.5% (2017 est.)
6% (2016 est.)
country comparison to the world: 89
Population below poverty line:
22.2% (2015 est.)
Household income or consumption by percentage share:
lowest 10%: 1.5%
highest 10%: 37.6% (2013 est.)
Distribution of family income - Gini index:
51.7 (2014 est.)
53.2 (2009 est.)
country comparison to the world: 12
Budget:
revenues: $5.366 billion
expenditures: $5.876 billion (2017 est.)
Taxes and other revenues:
18.6% of GDP (2017 est.)
country comparison to the world: 163
Budget surplus (+) or deficit (-):
-1.8% of GDP (2017 est.)
country comparison to the world: 80
Public debt:
22.5% of GDP (2017 est.)
22.4% of GDP (2016 est.)
country comparison to the world: 184
Fiscal year:
calendar year
Inflation rate (consumer prices):
3.5% (2017 est.)
4.1% (2016 est.)
country comparison to the world: 141
Central bank discount rate:
5.5% (31 December 2012 est.)
6% (31 December 2011 est.)
country comparison to the world: 77
Commercial bank prime lending rate:
18.5% (31 December 2017 est.)
18.08% (31 December 2016 est.)
country comparison to the world: 24
Stock of narrow money:
$4.725 billion (31 December 2017 est.)
$4.293 billion (31 December 2016 est.)
country comparison to the world: 107
Stock of broad money:
$9.505 billion (31 December 2017 est.)
$8.557 billion (31 December 2016 est.)
country comparison to the world: 105
Stock of domestic credit:
$13.31 billion (31 December 2017 est.)
$12.14 billion (31 December 2016 est.)
country comparison to the world: 104
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: 107
Current account balance:
$327 million (2017 est.)
$460 million (2016 est.)
country comparison to the world: 51
Exports:
$11.53 billion (2017 est.)
$10.86 billion (2016 est.)
country comparison to the world: 83
Exports - commodities:
soybeans, livestock feed, cotton, meat, edible oils, wood, leather, gold
Exports - partners:
Brazil 35.4%, Argentina 10.5%, Russia 7.6%, Chile 6.1% (2016)
Imports:
$10.37 billion (2017 est.)
$9.617 billion (2016 est.)
country comparison to the world: 96
Imports - commodities:
road vehicles, consumer goods, tobacco, petroleum products, electrical machinery, tractors, chemicals, vehicle parts
Imports - partners:
China 27.3%, Brazil 24.3%, Argentina 14.3%, US 7.1% (2016)
Reserves of foreign exchange and gold:
$7.504 billion (31 December 2017 est.)
$6.881 billion (31 December 2016 est.)
country comparison to the world: 81
Debt - external:
$17.35 billion (31 December 2017 est.)
$16.48 billion (31 December 2016 est.)
country comparison to the world: 96
Stock of direct foreign investment - at home:
$5.679 billion (31 December 2017 est.)
$5.276 billion (31 December 2016 est.)
country comparison to the world: 104
Stock of direct foreign investment - abroad:
$641.3 million (31 December 2017 est.)
$591.3 million (31 December 2016 est.)
country comparison to the world: 91
Exchange rates:
guarani (PYG) per US dollar -
5,628.1 (2017 est.)
5,680.7 (2016 est.)
5,680.7 (2015 est.)
5,160.4 (2014 est.)
4,462.2 (2013 est.)

Energy

Electricity access:
population without electricity: 100,000
electrification - total population: 98%
electrification - urban areas: 99%
electrification - rural areas: 96% (2013)
Electricity - production:
55.19 billion kWh (2015 est.)
country comparison to the world: 52
Electricity - consumption:
10.47 billion kWh (2015 est.)
country comparison to the world: 92
Electricity - exports:
41.13 billion kWh (2015 est.)
country comparison to the world: 5
Electricity - imports:
0 kWh (2016 est.)
country comparison to the world: 186
Electricity - installed generating capacity:
8.87 million kW (2015 est.)
country comparison to the world: 66
Electricity - from fossil fuels:
0.2% of total installed capacity (2015 est.)
country comparison to the world: 214
Electricity - from nuclear fuels:
0% of total installed capacity (2015 est.)
country comparison to the world: 162
Electricity - from hydroelectric plants:
99.3% of total installed capacity (2015 est.)
country comparison to the world: 2
Electricity - from other renewable sources:
0.5% of total installed capacity (2015 est.)
country comparison to the world: 153
Crude oil - production:
0 bbl/day (2016 est.)
country comparison to the world: 181
Crude oil - exports:
0 bbl/day (2014 est.)
country comparison to the world: 175
Crude oil - imports:
0 bbl/day (2014 est.)
country comparison to the world: 176
Crude oil - proved reserves:
0 bbl (1 January 2017 est.)
country comparison to the world: 179
Refined petroleum products - production:
0 bbl/day (2014 est.)
country comparison to the world: 186
Refined petroleum products - consumption:
38,000 bbl/day (2015 est.)
country comparison to the world: 116
Refined petroleum products - exports:
0 bbl/day (2014 est.)
country comparison to the world: 189
Refined petroleum products - imports:
37,610 bbl/day (2014 est.)
country comparison to the world: 94
Natural gas - production:
0 cu m (2013 est.)
country comparison to the world: 183
Natural gas - consumption:
0 cu m (2013 est.)
country comparison to the world: 122
Natural gas - exports:
0 cu m (2013 est.)
country comparison to the world: 165
Natural gas - imports:
0 cu m (2013 est.)
country comparison to the world: 173
Natural gas - proved reserves:
0 cu m (1 January 2014 est.)
country comparison to the world: 184
Carbon dioxide emissions from consumption of energy:
3.9 million Mt (2013 est.)
country comparison to the world: 135

Communications

Telephones - fixed lines:
total subscriptions: 350,455
subscriptions per 100 inhabitants: 5 (July 2016 est.)
country comparison to the world: 111
Telephones - mobile cellular:
total: 7,489,474
subscriptions per 100 inhabitants: 108 (July 2016 est.)
country comparison to the world: 103
Telephone system:
general assessment: the fixed-line market is a state monopoly and fixed-line telephone service is meager; principal switching center is in Asuncion
domestic: deficiencies in provision of fixed-line service have resulted in a rapid expansion of mobile-cellular services fostered by competition among multiple providers; Internet market also open to competition
international: country code - 595; satellite earth station - 1 Intelsat (Atlantic Ocean) (2016)
Broadcast media:
6 privately owned TV stations; about 75 commercial and community radio stations; 1 state-owned radio network (2010)
Internet country code:
.py
Internet users:
total: 3,524,045
percent of population: 51.3% (July 2016 est.)
country comparison to the world: 93

Transportation

National air transport system:
number of registered air carriers: 1
inventory of registered aircraft operated by air carriers: 5
annual passenger traffic on registered air carriers: 452,004
annual freight traffic on registered air carriers: 1,641,624 mt-km (2015)
Civil aircraft registration country code prefix:
ZP (2016)
Airports:
799 (2013)
country comparison to the world: 9
Airports - with paved runways:
total: 15
over 3,047 m: 3
1,524 to 2,437 m: 7
914 to 1,523 m: 5 (2017)
Airports - with unpaved runways:
total: 784
1,524 to 2,437 m: 23
914 to 1,523 m: 290
under 914 m: 471 (2013)
Railways:
total: 30 km
standard gauge: 30 km 1.435-m gauge (2014)
country comparison to the world: 133
Roadways:
total: 32,059 km
paved: 4,860 km
unpaved: 27,199 km (2010)
country comparison to the world: 95
Waterways:
3,100 km (primarily on the Paraguay and Paran? River systems) (2012)
country comparison to the world: 32
Merchant marine:
total: 78
by type: container ship 3, general cargo 22, oil tanker 6, other 47 (2017)
country comparison to the world: 99
Ports and terminals:
river port(s): Asuncion, Villeta, San Antonio, Encarnacion (Parana)

Military & Security

Military expenditures:
1.25% of GDP (2016)
1.42% of GDP (2015)
1.29% of GDP (2014)
1.28% of GDP (2013)
1.3% of GDP (2012)
country comparison to the world: 92
Military branches:
Armed Forces Command (Commando de las Fuerzas Militares): Army, National Navy (Armada Nacional, includes Marine Corps, Naval Aviation, and Coast Guard), Paraguayan Air Force (Fuerza Aerea Paraguay, FAP), Logistics Command, War Materiel Directorate (2012)
Military service age and obligation:
18 years of age for compulsory and voluntary military service; conscript service obligation is 12 months for Army, 24 months for Navy; volunteers for the Air Force must be younger than 22 years of age with a secondary school diploma (2012)

Transnational Issues

Disputes - international:
unruly region at convergence of Argentina-Brazil-Paraguay borders is locus of money laundering, smuggling, arms and illegal narcotics trafficking, and fundraising for violent extremist organizations
Illicit drugs:
major illicit producer of cannabis, most or all of which is consumed in Brazil, Argentina, and Chile; transshipment country for Andean cocaine headed for Brazil, other Southern Cone markets, and Europe; weak border controls, extensive corruption and money-laundering activity, especially in the Tri-Border Area; weak anti-money-laundering laws and enforcement

Economic Indicators for Paraguay including actual values, historical data, and latest data updates for the Paraguay economy.