Economy of Paraguay

An overview of key economic indicators. Select a category for detailed trends, charts, and insights.

Explore Economic Domains

Growth & Output

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GDP (USD)
$43.0B(2023)
GDP PPP (USD)
$119.9B(2023)
GDP per Capita (USD)
$6,276(2023)
GDP Growth (inflation-adjusted)
4.7%(2023)
Inflation (CPI Annual %)
3.8%(2024)

Trade & Finance

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Exports (as share of GDP)
42.5%(2023)
Imports (as share of GDP)
40.4%(2023)
FDI Inflows (as share of GDP)
1.3%(2023)
Remittance Inflow (USD)
$745.7M(2023)
Tax Revenue (as share of GDP)
10.2%(2023)

Labor & Income

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Unemployment Rate
6.1%(2024)
Employment in Services
64.8%(2023)
Poverty Rate
24.7%(2022)
GINI Index
44.4(2023)
GNI per Capita (USD)
$6,220(2023)

Energy & Environment

Coming Soon
Energy Use per Capita
1045 kg oil eq.(2022)
Renewable Energy Consumption (%)
58.8%(2021)

Economic Snapshot Overview

A summary of key economic indicators for Paraguay

  • The economic architecture of Paraguay is substantial, anchored by a Gross Domestic Product (GDP) of approximately $42.96B
    2023
    . This places it as the 95th largest economy out of 191 countries measured, underscoring its significance on the world stage. On a per capita basis, GDP stands at $6.28K
    2023
    , while its GDP in Purchasing Power Parity (PPP) terms is estimated at $119.89B, reflecting the population's domestic purchasing power. The economy demonstrates solid growth, expanding at a rate of 4.7%
    2023
    , while managing moderate inflation, with a CPI of 3.8%
    2024
    .
  • On the global stage, the nation's trade and financial dynamics reveal a complex interplay of factors. The country maintains a strong trade surplus, with exports representing 42.5% of GDP and imports 40.4%
    2023
    . Foreign Direct Investment (FDI) inflows are significant, constituting 1.34% of the economy
    2023
    . This performance positions the country 115th globally out of 186 nations, indicating its relative attractiveness to foreign capital. Additionally, personal remittances received amount to a substantial $745.72M annually
    2023
    , highlighting the economic importance of its diaspora. The government faces fiscal constraints, with tax revenue representing only 10.2% of GDP
    2023
    .
  • The socio-economic landscape is characterized by a Gross National Income (GNI) per capita of $6,220
    2023
    . Globally, this ranks the nation 99th out of 190 in terms of GNI per capita, providing a clear measure of its national wealth relative to others. The labor market is stable, with unemployment at 6.1%
    2024
    . The services sector is a primary driver of the labor market, accounting for 64.8% of total employment
    2023
    . Poverty remains a key issue, with 24.7% of the population living below the national poverty line
    2022
    . There is a moderate level of income inequality, with a Gini index of 44.4
    2023
    .
  • On the environment and energy front, energy consumption per capita is 1,044.985 kg of oil equivalent
    2022
    . The country is a leader in clean energy, with renewable sources making up 58.8% of total final energy consumption
    2021
    . Its commitment to clean energy places it 153rd among 190 countries for its share of renewable energy consumption.

Key Economic Insights

Macroeconomic Health

Maintaining a balance between growth, inflation, and employment is the central challenge for economic policymakers.

Trade & Investment Profile

The degree of openness to trade and foreign investment is a major determinant of economic structure and resilience.

Social Equity & Distribution

Distributing the benefits of economic growth equitably is crucial for social cohesion and long-term stability.

Energy & Sustainability

A strong commitment to renewable energy positions the country as a leader in the green transition, potentially creating new economic advantages.

More About This Country

Note: The information on this page has been compiled from authoritative sources. While every effort is made to ensure accuracy, please note that some figures may not be current or entirely precise.