Paraguay: Economy
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Income Level (by per capita GNI) Source: The World Bank Possible values: High Income, Upper Middle Income, Lower Middle Income and Low Income |
Upper Middle Income |
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Level of Development
Source: United Nations Possible values: Developed, In Transition and Developing |
Developing |
| Economic Trivia | Paraguay has the highest economic growth in South America. |
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Trade
Source: United Nations Comtrade Note: Top 3 trade partners are calculated by imports + exports. |
Top 3 Trade Partners (2021): Brazil, China, and Argentina |
| Top Industries Source: CIA World Factbook | Sugar; Cement; Textiles; Beverages |
Gross Domestic Product (GDP) [1]
| GDP, PPP (current international) | $108,338,060,131 (2022) |
| GDP Growth Rate (annual %) | 0.075% (2022) |
| GDP Per Capita, PPP (current international) | $15,977 (2022) |
GDP Country Rank 94/197 (2022)
Economic Indicators [1]
| Inflation, consumer prices (annual %) | 9.766% (2022) |
| External debt stocks, total (DOD, current US$) | $21,352,787,182 (2021) |
| Total tax rate (% of commercial profits) | 35% (2019) |
| Real Interest Rate (5 year average %) | 3.745% (2021) |
| Manufacturing, value added (% of GDP) | 19.4% (2022) |
| Current Account Balance (BoP, current US$) | ($2,713,001,876) (2022) |
Labor and Employment [1]
| Labor Force, Total | 3,428,200 (2022) |
| Employment in Agriculture (% of total employment) | 19.714% (2021) |
| Employment in Industry (% of total employment) | 19.493% (2021) |
| Employment in Services (% of total employment) | 60.793% (2021) |
| Unemployment Rate | 6.886% (2022) |
Trade [1]
| Imports of goods and services (current US$) | $16,428,665,183 (2022) |
| Exports of goods and services (current US$) | $14,385,152,767 (2022) |
| Total Merchandise Trade (% of GDP) | 61.861% (2022) |
| FDI, net inflows (BoP, current US$) | $473,691,502 (2022) |
| Commercial Service Exports (current US$) | $1,964,275,415 (2022) |
Economic Snapshot [1]
Note: Percentile ranks are calculated using the latest available data for all countries within the last 5 years.
How to interpret the graph: The purpose of this graph is to take a snapshot of a country’s economy in comparison to other economies. For example, Paraguay’s Exports rank is higher than (please wait...) of the countries in the dataset. For Exports, FDI and GDP measures, a higher rank (closer to 100%) indicates a stronger economy. Conversely, for Unemployment and Inflation, a lower rank (closer to 0%) indicates a stronger economy.