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Economic overview
Paraguay — 36 years of data
Historical Values
| Year | Value |
|---|---|
| 1990 | The economy is predominantly agricultural. Agriculture, including forestry, accounts for about 25% of GNP, employs about 45% of the labor force, and provides the bulk of exports. Paraguay has no known significant mineral or petroleum resources, but does have a large hydropower potential. Since 1981 economic performance has declined compared with the boom period of 1976-81, when real GDP grew at an average annual rate of nearly 11%. During 1982-86 real GDP fell three out of five years, inflation |
| 1991 | The economy is predominantly agricultural. Agriculture, including forestry, accounts for about 25% of GNP, employs about 45% of the labor force, and provides the bulk of exports. Paraguay has no known significant mineral or petroleum resources but does have a large hydropower potential. Since 1981 economic performance has declined compared with the boom period of 1976-81, when real GDP grew at an average annual rate of nearly 11%. During 1982-86 real GDP fell in three of five years, inflation j |
| 1992 | Agriculture, including forestry, accounts for about 25% of GDP, employs about 45% of the labor force, and provides the bulk of exports. Paraguay has no known significant mineral or petroleum resources but does have a large hydropower potential. Since 1981 economic performance has declined compared with the boom period of 1976-81, when real GDP grew at an average annual rate of nearly 11%. During the period 1982-86 real GDP fell in three of five years, inflation jumped to an annual rate of 32%, a |
| 1993 | Agriculture, including forestry, accounts for about 25% of GDP, employs about 45% of the labor force, and provides the bulk of exports. Paraguay lacks substantial mineral or petroleum resources but does have a large hydropower potential. Since 1981 economic performance has declined compared with the boom period of 1976-81, when real GDP grew at an average annual rate of nearly 11%. During the period 1982-86 real GDP fell in three of five years, inflation jumped to an annual rate of 32%, and fore |
| 1994 | Agriculture, including forestry, accounts for about 25% of GDP, employs about 45% of the labor force, and provides the bulk of exports, led by soybeans and cotton. Paraguay lacks substantial mineral or petroleum resources but possesses a large hydropower potential. Since 1981 economic performance has declined compared with the boom period of 1976-81, when real GDP grew at an average annual rate of nearly 11%. During the period 1982-86 real GDP fell in three of five years, inflation jumped to an |
| 1995 | Agriculture, including forestry, accounts for about 25% of GDP, employs about 45% of the labor force, and provides the bulk of exports, in which soybeans and cotton are the most important. Paraguay lacks substantial mineral or petroleum resources but possesses a large hydropower potential. In a major step to increase its economic activity in the region, Paraguay in March 1991 joined the Southern Cone Common Market (MERCOSUR), which includes Brazil, Argentina, and Uruguay. In 1992, the government |
| 1996 | Paraguay has a market economy marked by a large informal sector. The formal economy is largely oriented toward services, but 45% of the population derive their living from agricultural activity, often on a subsistence basis. The economy has grown an average of 3% to 4% over the past five years. Population has increased at 3% a year over the same period leaving per capita income nearly stagnant. The informal sector is marked by both reexport of imported consumer goods (electronics, whiskeys, perf |
| 1997 | Paraguay has a market economy marked by a large informal sector. The informal sector features both reexport of imported consumer goods (electronics, whiskeys, perfumes, cigarettes, and office equipment) to neighboring countries as well as by the activities of thousands of microenterprises and urban street vendors. The formal sector is largely oriented toward services, but a large percentage of the population derive their living from agricultural activity, often on a subsistence basis. The formal |
| 1998 | Paraguay has a market economy marked by a large informal sector. The informal sector features both reexport of imported consumer goods (electronics, whiskeys, perfumes, cigarettes, and office equipment) to neighboring countries as well as the activities of thousands of microenterprises and urban street vendors. The formal sector is largely oriented toward services. A large percentage of the population derive their living from agricultural activity, often on a subsistence basis. The formal econom |
| 1999 | Paraguay has a market economy marked by a large informal sector. The informal sector features both reexport of imported consumer goods (electronics, whiskeys, perfumes, cigarettes, and office equipment) to neighboring countries as well as the activities of thousands of microenterprises and urban street vendors. The formal sector is largely oriented toward services. A large percentage of the population derive their living from agricultural activity, often on a subsistence basis. The formal econom |
| 2000 | Paraguay has a market economy marked by a large informal sector. The informal 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 derive their living from agricultural activity, often on a subsistence basis. The formal economy grew by an average |
| 2001 | Paraguay has a market economy marked by a large informal sector. The informal 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 derives their living from agricultural activity, often on a subsistence basis. The formal economy grew by an average |
| 2002 | Paraguay has a market economy marked by a large informal sector. The informal 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 derives their living from agricultural activity, often on a subsistence basis. The formal economy grew by an average |
| 2003 | Paraguay has a market economy marked by a large informal sector. The informal 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 derives their living from agricultural activity, often on a subsistence basis. The formal economy grew by an average |
| 2004 | Paraguay has a market economy marked by a large informal sector. The informal 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 derives their living from agricultural activity, often on a subsistence basis. The formal economy grew by an average |
| 2005 | 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 derives their living from agricultural activity, often on a subsistence basis. The formal economy grew by an aver |
| 2006 | 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 derives its living from agricultural activity, often on a subsistence basis. The formal economy grew by an avera |
| 2007 | 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 derives its living from agricultural activity, often on a subsistence basis. On a per capita basis, real income |
| 2008 | 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 pe |
| 2009 | 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, |
| 2010 | Landlocked Paraguay has a market economy distinguished by a large informal sector, featuring re-export 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 |
| 2011 | Landlocked Paraguay has a market economy distinguished by a large informal sector, featuring re-export 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 |
| 2012 | Landlocked Paraguay has a market economy distinguished by a large informal sector, featuring re-export 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 |
| 2013 | Landlocked Paraguay has a market economy distinguished by a large informal sector, featuring re-export 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 |
| 2014 | Landlocked Paraguay has a market economy distinguished by a large informal sector, featuring re-export 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 |
| 2015 | Landlocked Paraguay has a market economy distinguished by a large informal sector, featuring re-export 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 |
| 2016 | Landlocked Paraguay has a market economy distinguished by a large informal sector, featuring re-export 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 capi |
| 2017 | Landlocked Paraguay has a market economy distinguished by a large informal sector, featuring re-export 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 capi |
| 2018 | Landlocked Paraguay has a market economy distinguished by a large informal sector, featuring re-export 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 |
| 2019 | Landlocked Paraguay has a market economy distinguished by a large informal sector, featuring re-export 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 |
| 2020 | Landlocked Paraguay has a market economy distinguished by a large informal sector, featuring re-export 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 |
| 2021 | Landlocked Paraguay has a market economy distinguished by a large informal sector, featuring re-export 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 |
| 2022 | Landlocked Paraguay has a market economy distinguished by a large informal sector, featuring re-export 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 |
| 2023 | 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 |
| 2024 | 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 |
| 2025 | 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 |