Location: Central South America
Capital: Asuncion
Population (2012): 6,541,591
Surface area: 406,752 sq km
Currency: Guarani
GDP per capita (2011): US $ 3,485
Economy – Overview:
Landlocked Paraguay has a market economy distinguished by a large informal sector, featuring re-export of imported consumer goods to neighbouring 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 favourable 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 13% level in 2010, the highest in South America, but slowed to about 4% in 2011 as the stimulus subsided. In 2012, severe drought and outbreaks of foot-and-mouth disease led to a drop in beef and other agricultural exports and the economy contracted about 0.5%.
Human Development Index ranking (2012): 111 out of 186
Net Official Development Assistance (ODA) (2011): US $ 94 million
Top Three Donors of gross ODA: Japan, Spain, United States.
FDI inflows (2012): $ 320 million
Total External Debt (2011): US $ 6 billion
External debt stock (% of GNI) (2011): 25.7
Merchandise exports (2011): US$ 7,764 million
Terms of trade index (2012): 110.5
Major export commodities: Soya beans, oil-cake and other solid residues, bovine meats
Cost to export per container (2013): US $ 1,440
HIPC Position (2013): Not eligible
United Nations Membership date: 24 October 1945
New York Mission:
Address: Permanent Mission of Paraguay to the United Nations
801 Second Avenue, Suite 702, New York, N.Y. 10017
Telephone: (212) 687-3490, -3491
Telefax: (212) 818-1282
e-mail: paraguay@un.int
Correspondence: Spanish
National holiday: 15 May, Independence Day