| variable | 1980-1989 | 1990-1999 | 2000-2007 | 2008-2009 | 2010-2019 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| real gdp growth | 3.17 | 2.44 | 3.3 | 5.4 | 3.13 | 5.3 | 4.7 | 6.0 | 4.2 | 3.5 |
| CPI % | 21.75 | 13.57 | 8.88 | 3.6 | 3.9 | 4.6 | 3.8 | 4.1 | 3.3 | 3.5 |
| Unemployment rate | 6.21 | 5.66 | 6.01 | 5.05 | 5.47 | 5.9 | 5.8 | 5.2 | 5.2 | 5.2 |
| Debt/GDP % | 67.0 | 26.92 | 30.4 | 13.95 | 19.53 | 41.0 | 44.6 | 38.1 | 37.8 | 37.6 |
| Current account balance/GDP % | -3.9 | -1.07 | 1.71 | 0.35 | 0.79 | 0.1 | -3.4 | -3.5 | -3.0 | -2.1 |
Data derived from World Economic Outlook Database. To see main macroeconomic indicator in graphs click here
Several Indigenous groups, principally belonging to the Guarani language family, inhabited the area of modern Paraguay before the arrival of the Spanish in the early 16th century, when the territory was incorporated into the Viceroyalty of Peru. Paraguay achieved its independence from Spain in 1811 with the help of neighboring states. In the aftermath of independence, a series of military dictators ruled the country until 1870. During the disastrous War of the Triple Alliance (1864-70) -- fought against Argentina, Brazil, and Uruguay -- Paraguay lost two thirds of its adult males and much of its territory. The country stagnated economically for the next half-century and experienced a tumultuous series of political regimes. Following the Chaco War of 1932-35 with Bolivia, Paraguay gained a large part of the Chaco lowland region. The 35-year military dictatorship of Alfredo STROESSNER ended in 1989, and Paraguay has held relatively free and regular presidential elections since the country's return to democracy.
Area: 406,752 sq km km2
Climate: subtropical to temperate; substantial rainfall in the eastern portions, becoming semiarid in the far west
Natural resources: hydropower, timber, iron ore, manganese, limestone
Groups: Mestizo (mixed Spanish and Indigenous ancestry) 95%, other 5%
Languages: Spanish (official) and Guarani (official) 46.3%, only Guarani 34%, only Spanish 15.2%, other (includes Portuguese, German, other Indigenous languages) 4.1%, no response 0.4% (2012 est.)
Religions: Roman Catholic 80.4%, Protestant 7% (Evangelical (non-specific) 6.7%, Evangelical Pentecostal <0.1%, Adventist <0.1%, Protestant (non-specific) <0.1%), Believer (not belonging to the church) 5.7%, other 0.6%, agnostic <0.1%, none 0.2%, unspecified 6.2% (2023 est.)
Capital: Asunción
Government type: presidential republic
Chief of state: President Santiago PEÑA Palacios (since 15 August 2023)
Head of government: President Santiago PEÑA Palacios (since 15 August 2023)
Description: Congress (Congreso) - bicameral
upper middle-income South American economy; COVID-19 hit while still recovering from 2019 Argentina-driven recession; global hydroelectricity leader; major corruption and money-laundering locale; highly agrarian economy; significant income inequality
sugar processing, cement, textiles, beverages, wood products, steel, base metals, electric power
GDP by sector: Agriculture: 10.7% (2024 est.), Industry: 32.5% (2024 est.), Services: 48.7% (2024 est.)
Export partners: Argentina 33%, Brazil 25%, Chile 10%, USA 2%, Uruguay 2% (2023)
Export commodities: soybeans, beef, electricity, corn, soybean meal (2023)
Import partners: China 33%, Brazil 24%, USA 8%, Argentina 7%, Germany 2% (2023)
Import commodities: broadcasting equipment, refined petroleum, fertilizers, cars, pesticides (2023)
Central South America, northeast of Argentina, southwest of Brazil
Military expenditure: 2024: 0.8% of GDP (2024 est.)
Information derived from worldfactbook.io (Lupon Media), open successor to the CIA World Factbook. Data sourced from World Bank, IMF, UN and other international organizations.