| Economy | Paraguay |
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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 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 15% level in 2010, the highest in South America, but slowed to about 6% in 2011 as the stimulus subsided. Political uncertainty, corruption, limited progress on structural reform, and deficient infrastructure are the main obstacles to growth. |
GDP (purchasing power parity):
|
$36.21 billion (2011 est.)
$33.97 billion (2010 est.)
$29.58 billion (2009 est.)
note: data are in 2011 US dollars |
GDP - per capita (PPP):
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$5,500 (2011 est.)
$5,300 (2010 est.)
$4,700 (2009 est.)
note: data are in 2011 US dollars |
GDP (official exchange rate):
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$22.3 billion (2011 est.) |
GDP - real growth rate:
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6.4% (2011 est.)
15% (2010 est.)
-3.8% (2009 est.) |
GDP - composition by sector:
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agriculture: 23.1%
industry: 19.2%
services: 57.7% (2011 est.) |
Investment (gross fixed):
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17.1% of GDP (2011 est.) |
Population below poverty line:
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18.8% (2009 est.) |
Household income or consumption by percentage share:
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lowest 10%: 1.4%
highest 10%: 41% (2008) |
Distribution of family income - Gini index:
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53.2 (2009)
57.7 (1998) |
Inflation rate (consumer prices):
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8.9% (2011 est.)
4.7% (2010 est.) |
Central bank discount rate:
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6% (31 December 2010 est.)
20% (31 December 2009 est.) |
Commercial bank prime lending rate:
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28% (31 December 2011 est.)
26.04% (31 December 2010 est.) |
Stock of money:
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$2.062 billion (31 December 2008)
$1.943 billion (31 December 2007) |
Stock of money - per capita:
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320 USD per capita |
Stock of quasi money:
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$1.599 billion (31 December 2008)
$1.368 billion (31 December 2007) |
Stock of quasi money - per capita:
|
248 USD per capita |
Stock of domestic credit:
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$7.056 billion (31 December 2011 est.)
$5.207 billion (31 December 2010 est.) |
Stock of domestic credit - per capita:
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1,093 USD per capita |
Stock of narrow money:
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$3.797 billion (31 December 2011 est.)
$3.169 billion (31 December 2010 est.) |
Stock of broad money:
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$7.633 billion (31 December 2010 est.)
$6.377 billion (31 December 2009 est.) |
Labor force:
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3.085 million (2011 est.) |
Labor force participation rate:
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47.76 % of population |
Labor force - by occupation:
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agriculture: 26.5%
industry: 18.5%
services: 55% (2008) |
Unemployment rate:
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6.6% (2011 est.)
7% (2010 est.) |
Unemployment, youth ages 15-24:
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total: 11.8%
male: 8.7%
female: 16.8% (2008) |
Budget:
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revenues: $4.551 billion
expenditures: $4.66 billion (2011 est.) |
Budget revenues per capita:
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705 USD per capita |
Taxes and other revenues:
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20.4% of GDP (2011 est.) |
Budget surplus (+) or deficit (-):
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-0.5% of GDP (2011 est.) |
Public debt:
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17.4% of GDP (2011 est.)
19.3% of GDP (2010 est.) |
Industries:
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sugar, cement, textiles, beverages, wood products, steel, metallurgic, electric power |
Industrial production growth rate:
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6.5% (2010 est.) |
Electricity - production:
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54.91 billion kWh (2008 est.) |
Electricity - production per capita:
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8,502 kWh per capita |
Electricity - consumption:
|
8.5 billion kWh (2009 est.) |
Electricity - consumption - per capita:
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1,316 kWh per capita |
Electricity - exports:
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45.13 billion kWh (2009 est.) |
Electricity - imports:
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45.13 billion kWh (2009 est.) |
Oil - production:
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0 bbl/day (2010 est.) |
Oil - production per capita:
|
void |
Oil - consumption:
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31,000 bbl/day (2010 est.) |
Oil - consumption - per capita:
|
1.75 bbl/year per capita |
Oil - exports:
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0 bbl/day (2009 est.) |
Oil - imports:
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23,810 bbl/day (2009 est.) |
Oil - proved reserves:
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0 bbl (1 January 2011 est.) |
Natural gas - production:
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0 cu m (2009 est.) |
Natural gas - production per capita:
|
void |
Natural gas - consumption:
|
0 cu m (2009 est.) |
Natural gas - consumption - per capita:
|
void |
Natural gas - exports:
|
0 cu m (2009 est.) |
Natural gas - imports:
|
0 cu m (2009 est.) |
Natural gas - proved reserves:
|
0 cu m (1 January 2011 est.) |
Agriculture - products:
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cotton, sugarcane, soybeans, corn, wheat, tobacco, cassava (tapioca), fruits, vegetables; beef, pork, eggs, milk; timber |
Current account balance:
|
-$943.8 million (2011 est.)
-$596.3 million (2010 est.) |
Current account balance - per capita:
|
-146 USD per capita |
Exports:
|
$9.756 billion (2011 est.)
$8.312 billion (2010 est.) |
Exports per capita:
|
1,511 USD per capita |
Exports - commodities:
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soybeans, feed, cotton, meat, edible oils, electricity, wood, leather |
Exports - partners:
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Uruguay 16.2%, Brazil 12.8%, Chile 10%, Argentina 8.1%, Italy 5%, Netherlands 4.4%, Spain 4.3%, Turkey 4.2%, Germany 4.2% (2010) |
Imports:
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$12.06 billion (2011 est.)
$9.839 billion (2010 est.) |
Imports per capita:
|
1,868 USD per capita |
Imports - commodities:
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road vehicles, consumer goods, tobacco, petroleum products, electrical machinery, tractors, chemicals, vehicle parts |
Imports - partners:
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Brazil 27.7%, China 17.6%, US 16.6%, Argentina 15.2% (2010) |
Reserves of foreign exchange and gold:
|
$5.096 billion (31 December 2011 est.)
$4.167 billion (31 December 2010 est.) |
Reserves of foreign exchange and gold - per capita:
|
789 USD per capita |
Debt - external:
|
$4.982 billion (31 December 2011 est.)
$4.545 billion (31 December 2010 est.) |
Debt - external - per capita:
|
772 USD per capita |
Stock of direct foreign investment - at home:
|
$3.393 million (31 December 2010)
$3.053 million (31 December 2009) |
Stock of direct foreign investment - at home - per capita:
|
1 USD per capita |
Stock of direct foreign investment - abroad:
|
$NA |
Stock of direct foreign investment - abroad - per capita:
|
void |
Market value of publicly traded shares:
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$NA (31 December 2010)
$409.1 million
$409.1 million (31 December 2006) |
Market value of publicly traded shares - per capita:
|
void |
Currency (code):
|
guarani (PYG) |
Exchange rates:
|
guarani (PYG) per US dollar -
4,188.1 (2011 est.)
4,735.5 (2010 est.)
4,965.4 (2009)
4,337.7 (2008)
5,031 (2007) |
Fiscal year:
|
calendar year |
|
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