| Economy | Paraguay |
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Economy - overview:
|
Landlocked Paraguay has a market economy marked by a large informal sector, featuring reexport 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. Most observers attribute Paraguay's poor economic performance to political uncertainty, corruption, limited progress on structural reform, and deficient infrastructure. The economy rebounded between 2003 and 2008, however, 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 3.5% in 2009, as lower world demand and commodity prices caused exports to contract. The government reacted by introducing fiscal and monetary stimulus packages. |
GDP (purchasing power parity):
|
$28.28 billion (2009 est.)
$29.3 billion (2008 est.)
$27.69 billion (2007 est.)
note: data are in 2009 US dollars |
GDP - per capita (PPP):
|
$4,100 (2009 est.)
$4,300 (2008 est.)
$4,200 (2007 est.)
note: data are in 2009 US dollars |
GDP (official exchange rate):
|
$13.61 billion (2009 est.) |
GDP - real growth rate:
|
-3.5% (2009 est.)
5.8% (2008 est.)
6.8% (2007 est.) |
GDP - composition by sector:
|
agriculture: 22.3%
industry: 18.1%
services: 59.6% (2009 est.) |
Investment (gross fixed):
|
17.1% of GDP (2009 est.) |
Population below poverty line:
|
32% (2005 est.) |
Household income or consumption by percentage share:
|
lowest 10%: 1.1%
highest 10%: 42.3% (2007) |
Distribution of family income - Gini index:
|
56.8 (2008)
57.7 (1998) |
Inflation rate (consumer prices):
|
2.5% (2009 est.)
10.2% (2008 est.) |
Central bank discount rate:
|
20% (31 December 2008)
20% (31 December 2007) |
Commercial bank prime lending rate:
|
25.81% (31 December 2008)
25.03% (31 December 2007) |
Stock of money:
|
$2.062 billion (31 December 2008)
$1.943 billion (31 December 2007) |
Stock of money - per capita:
|
295 USD per capita |
Stock of quasi money:
|
$1.599 billion (31 December 2008)
$1.368 billion (31 December 2007) |
Stock of quasi money - per capita:
|
229 USD per capita |
Stock of domestic credit:
|
$3.098 billion (31 December 2008)
$2.457 billion (31 December 2007) |
Stock of domestic credit - per capita:
|
443 USD per capita |
Labor force:
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2.983 million (2009 est.) |
Labor force participation rate:
|
42.64 % of population |
Labor force - by occupation:
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agriculture: 31%
industry: 17%
services: 52% (2007) |
Unemployment rate:
|
7.9% (2009 est.)
5.4% (2008 est.) |
Budget:
|
revenues: $2.323 billion
expenditures: $2.444 billion (2009 est.) |
Budget revenues per capita:
|
333 USD per capita |
Public debt:
|
22.1% of GDP (2009 est.)
19.9% of GDP (2008 est.) |
Industries:
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sugar, cement, textiles, beverages, wood products, steel, metallurgic, electric power |
Industrial production growth rate:
|
-4% (2009 est.) |
Electricity - production:
|
53.19 billion kWh (2007 est.) |
Electricity - production per capita:
|
7,604 kWh per capita |
Electricity - consumption:
|
5.337 billion kWh (2007 est.) |
Electricity - consumption - per capita:
|
763 kWh per capita |
Electricity - exports:
|
45.14 billion kWh (2007 est.) |
Electricity - imports:
|
0 kWh (2008 est.) |
Oil - production:
|
27 bbl/day (2008 est.) |
Oil - production per capita:
|
4 bbl/day per capita |
Oil - consumption:
|
28,000 bbl/day (2008 est.) |
Oil - consumption - per capita:
|
1.46 bbl/year per capita |
Oil - exports:
|
0 bbl/day (2007 est.) |
Oil - imports:
|
25,100 bbl/day (2007 est.) |
Oil - proved reserves:
|
0 bbl (1 January 2009 est.) |
Natural gas - production:
|
0 cu m (2008 est.) |
Natural gas - production per capita:
|
void |
Natural gas - consumption:
|
0 cu m (2008 est.) |
Natural gas - consumption - per capita:
|
void |
Natural gas - exports:
|
0 cu m (2008 est.) |
Natural gas - imports:
|
0 cu m (2008 est.) |
Natural gas - proved reserves:
|
0 cu m (1 January 2009 est.) |
Agriculture - products:
|
cotton, sugarcane, soybeans, corn, wheat, tobacco, cassava (tapioca), fruits, vegetables; beef, pork, eggs, milk; timber |
Current account balance:
|
$-289 million (2009 est.)
$-345 million (2008 est.) |
Current account balance - per capita:
|
-41 USD per capita |
Exports:
|
$6.196 billion (2009 est.)
$7.769 billion (2008 est.) |
Exports per capita:
|
886 USD per capita |
Exports - commodities:
|
soybeans, feed, cotton, meat, edible oils, electricity, wood, leather |
Exports - partners:
|
Argentina 31.7%, Brazil 15.9%, Uruguay 11.7%, Chile 6.4%, Russia 5.7% (2008) |
Imports:
|
$6.756 billion (2009 est.)
$8.809 billion (2008 est.) |
Imports per capita:
|
966 USD per capita |
Imports - commodities:
|
road vehicles, consumer goods, tobacco, petroleum products, electrical machinery, tractors, chemicals, vehicle parts |
Imports - partners:
|
Brazil 27.2%, US 22.1%, Argentina 14.9%, China 10.4% (2008) |
Reserves of foreign exchange and gold:
|
$3.431 billion (31 December 2009 est.)
$2.863 billion (31 December 2008 est.) |
Reserves of foreign exchange and gold - per capita:
|
491 USD per capita |
Debt - external:
|
$3.31 billion (31 December 2009 est.)
$3.096 billion (31 December 2007 est.) |
Debt - external - per capita:
|
474 USD per capita |
Stock of direct foreign investment - at home:
|
$NA (31 December 2009 est.)
$2.057 million (2007) |
Stock of direct foreign investment - at home - per capita:
|
void |
Stock of direct foreign investment - abroad:
|
$NA |
Stock of direct foreign investment - abroad - per capita:
|
void |
Market value of publicly traded shares:
|
$NA (31 December 2008)
$NA (31 December 2007)
$409.1 million (31 December 2006) |
Market value of publicly traded shares - per capita:
|
void |
Economic aid - donor:
|
void |
Economic aid - recipient:
|
$51.09 million |
Economic aid - recipient per capita:
|
8 USD per capita |
Currency (code):
|
guarani (PYG) |
Exchange rates:
|
guarani (PYG) per US dollar - 5,018.2 (2009), 4,337.7 (2008), 5,031 (2007), 5,672.8 (2006), 6,178 (2005) |
Fiscal year:
|
calendar year |
|
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