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Paraguay:
Economy

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Paraguay Page


Economy - overview
Definition
Landlocked Paraguay has a market economy marked by a large informal sector. This sector features both reexport of imported consumer goods to neighboring countries, as well as the activities of thousands of microenterprises and urban street vendors. Because of the importance of the informal sector, accurate economic measures are difficult to obtain. A large percentage of the population, especially in rural areas, derives its living from agricultural activity, often on a subsistence basis. 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 2007, posting modest growth each year, as growing world demand for commodities combined with high prices and favorable weather to support Paraguay's commodity-based export expansion.
GDP (purchasing power parity)
Definition - World rank and map
$27.08 billion (2007 est.)
GDP (official exchange rate)
Definition
$10.87 billion (2007 est.)
GDP - real growth rate
Definition - World rank and map
6.4% (2007 est.)
GDP - per capita
Definition - World rank and map
$4,500 (2007 est.)
GDP - composition by sector
Definition
agriculture: 22.4%
industry: 17.6%
services: 60% (2007 est.)
Labor force
Definition
2.787 million (2007 est.)
Labor force - by occupation
Definition
agriculture: 31%
industry: 17%
services: 52% (2007)
Unemployment rate
Definition - World rank and map
5.6% (2007 est.)
Population below poverty line
Definition
32% (2005 est.)
Household income or consumption by percentage share
Definition
lowest 10%: 0.7%
highest 10%: 46.1% (2003)
Distribution of family income - Gini index
Definition - World rank and map
56.8 (2008)
Inflation rate (consumer prices)
Definition - World rank and map
8.1% (2007)
Investment (gross fixed)
Definition - World rank and map
18.9% of GDP (2007 est.)
Budget
Definition
revenues: $2.268 billion
expenditures: $2.469 billion (2007)
Public debt
Definition - World rank and map
27.1% of GDP (2007)
Agriculture - products
Definition
cotton, sugarcane, soybeans, corn, wheat, tobacco, cassava (tapioca), fruits, vegetables; beef, pork, eggs, milk; timber
Industries
Definition
sugar, cement, textiles, beverages, wood products, steel, metallurgic, electric power
Industrial production growth rate
Definition - World rank and map
-1% (2007 est.)
Electricity - production
Definition - World rank and map
70 billion kWh (2007)
Electricity - consumption
Definition - World rank and map
6 billion kWh (2007)
Electricity - consumption per capita
Definition - World rank and map
878.4 kWh (2007)
Electricity - exports
Definition
64 billion kWh (2007)
Electricity - imports
Definition
0 kWh (2007)
Oil - production
Definition - World rank and map
0 bbl/day (2007 est.)
Oil - consumption
Definition - World rank and map
28,000 bbl/day (2007 est.)
Oil - consumption per 1,000 people
Definition - World rank and map
4.1 bbl/day (2007 est.)
Oil - exports
Definition - World rank and map
0 bbl/day (2007)
Oil - imports
Definition - World rank and map
25,940 bbl/day (2007)
Oil - proved reserves
Definition - World rank and map
0 bbl (1 January 2006 est.)
Natural gas - production
Definition - World rank and map
0 cu m (2007 est.)
Natural gas - consumption
Definition - World rank and map
0 cu m (2007 est.)
Natural gas - consumption per capita
Definition - World rank and map
0 cu m (2007 est.)
Natural gas - exports
Definition - World rank and map
0 cu m (2007 est.)
Natural gas - imports
Definition - World rank and map
0 cu m (2007)
Natural gas - proved reserves
Definition - World rank and map
0 cu m (1 January 2007 est.)
Current account balance
Definition - World rank and map
$162 million (2007 est.)
Exports
Definition - World rank and map
$6.898 billion f.o.b. (2007)
Exports - commodities
Definition
soybeans, feed, cotton, meat, edible oils, electricity, wood, leather
Exports - partners
Definition
Uruguay 19%, Brazil 14.8%, Russia 9.1%, Argentina 7.6%, Chile 7.3%, Germany 6.1% (2006)
Imports
Definition - World rank and map
$7.012 billion f.o.b. (2007)
Imports - commodities
Definition
road vehicles, consumer goods, tobacco, petroleum products, electrical machinery, tractors, chemicals, vehicle parts
Imports - partners
Definition
Brazil 23.7%, US 22.4%, Argentina 16.1%, China 10.2% (2006)
Reserves of foreign exchange and gold
Definition - World rank and map
$2.463 billion (31 December 2007)
Debt - external
Definition - World rank and map
$3.605 billion (31 December 2007 est.)
Stock of direct foreign investment - at home
Definition
$2.057 million (2007)
Stock of direct foreign investment - abroad
Definition
$NA
Market value of publicly traded shares
Definition
$233.8 million (2005)
Economic aid - recipient
Definition
$51.09 million (2005)
Currency (code)
Definition
guarani (PYG)
Exchange rates
Definition
guarani per US dollar - 5,031 (2007), 5,672.8 (2006), 6,178 (2005), 5,974.6 (2004), 6,424.3 (2003)
Fiscal year
Definition
calendar year


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