Economy of Paraguay
Population: 6.96 M (2018)
GDP per Capita: 5,822 USD (2018)
40,500 M.

GDP USD

(2018)

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14,580 M.

EXPORTS USD

(2018)

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13,930 M.

IMPORTS USD

(2018)

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22.92 %

PUBLIC DEBT

(2019)

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Data is provided by World Bank, FMI and Central Banks.

GDP and Economic Growth

Indicator Value
Economic Growth 3.68 % (2018)
GDP of 2010 USD USD 37.50 B. (2018)
GDP Current USD USD 40.50 B. (2018)
GDP per Capita Current USD USD 5,822 (2018)
GDP per capita, PPP USD 12,068 (2018)
GDP per Capita, 2010 USD USD 5,396 (2018)

Government spending and balances

Indicator Value
Government Spending % GDP 11.25 % (2018)
Government Spending USD 4.56 B. (2018)
Government Debt % GDP 22.92 % (2019)

International Trade and Investment

Indicator Value
Terms of Trade Base Year 2000 125.66 (2018)
Trade Openness 70.42 % (2018)
Exports of Goods and Services % GDP 36.01 % (2018)
Exports Goods & Services USD 14.58 B. (2018)
Exports Annual Growth 2.66 % (2018)
Imports as % GDP 34.41 % (2018)
Total Imports USD 13.93 B. (2018)
Foreign Direct Investment % GDP 0.96 % (2018)
Foreign Direct Investment USD 0.51 B. (2018)
Current Account Balance % GDP USD 0.02 % (2018)
Current Account Balance USD 0.01 B. (2018)
Trade Balance % GDP 1.60 % (2018)
Trade Balance USD 0.57 B. (2018)
Foreign Exchange Reserves incl Gold USD 7.74 B. (2018)
Remittances % GDP 1.69 % (2018)
Remittances USD 683 M. (2018)
Balance of Payments USD 189 M. (2015)

Labor Market

Indicator Value
Labor Force 3.53 M. (2019)
Unemployment Rate 4.68 % (2019)
Unemployment Rate Females 5.78 % (2019)
Unemployment Rate Males 4.15 % (2019)
Youth Unemployment (ages 15-24) 11.16 % (2019)
Labor Force Participation Rate 70.77 % (2019)
Labor Force (Percent Female) 40.49 % (2019)
Female Labor Force Participation Rate 57.19 % (2019)
Male Labor Force Participation Rate 84.04 % (2019)
Dependent People 55.93 % (2018)

Agriculture Sector

Indicator Value
Forest Area 37.70 % (2016)
Forest Area km² 149,976 km² (2016)
Agricultural Land 55.08 % (2016)
Agricultural Land km² 218,850 km² (2016)
Employment 19.77 % (2019)
Value added % GDP 10.44 % (2018)
Agriculture Value added USD 4.23 B. (2018)
Crop Production Index 180.90 (2016)
Precipitation 1,130 mm (2014)
Arable Land 12 % (2016)
Cereal Yield 4,447 kg/hectare (2017)
Food production index 184 (2016)
Rural Population 38 % (2018)
Fertilizer use of Arable Land 110 kg/hectare (2016)
Livestock Production Index 130 (2016)
Economy of Paraguay

According to the World Bank and its latest published data, the economy of the Paraguay presents a growth rate of 3.68 % (2018) to the previous year.

With a population that reaches 6.96 M (2018) and a gross domestic product of USD 40.50 B. (2018), it translates a Gross Domestic Product per Capita of USD 5,822 placing its inhabitants on the threshold of an Upper middle income country (according to the World Bank's updated classification).

Paraguay also has a workforce of 3.53 M. (2019) with an unemployment rate of 4.68 % (2019), where women represent 5.78 % (2019) and men 4.15 % (2019), the unemployment rate for young people between 15-24 years old stood at 11.16 % (2019). The total number of dependent people stands at 55.93 % (2018).

The central government spent 11.25 % (2018) of its gross domestic product that year, which in absolute terms is USD 4.56 B. (2018). Its consolidated public debt reached 22.92 of its GDP, not exceeding the 35% risk limit used by the European Union.

Regarding its international trade, Paraguay exported USD 14.58 B. (2018), which represents 36.01 % (2018) of its gross domestic product, in that same sense its imports reached USD 13.93 B. (2018) with a direct foreign investment of USD 0.51 B. (2018).

Paraguay has a forest area of 149,976 km² (2016), which represents 37.70 % (2016) of its total area, an average rainfall of 1,130 mm (2014) per year and a population of 38 % (2018) living in rural areas. With a total area of 218,850 km² (2016) available for agriculture and 19.77 % (2019) of its employments, the agricultural sector contributes to the economy of the Paraguay about USD 4.23 B. (2018) (10.44 % (2018) of its GDP).