Country Report Paraguay

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Country Report - Paraguay |

The Republic of Paraguay, sometimes referred to as Corazón de América, is a landlocked country in South America, bordered by Argentina to the south and southwest, Brazil to the east and northeast, and Bolivia to the northwest. Paraguay's population is estimated to be at around 7.0 million, most of whom are concentrated in the southeast region of the country. The capital and largest city is Asunción, of which the metropolitan area is home to nearly a third of the Paraguay's population.

The country has a free market economy marked by a large informal sector - characterized by the activities of thousands of microenterprises and urban street vendors - featuring re-export of imported consumer and manufactured goods to neighboring countries. Because of the importance of the informal sector, accurate economic measures are difficult to obtain. Furthermore, a large percentage of the general population derives its living from agricultural activity. Between 1970 and 2010 the country had the highest economic growth of South America, with an average rate of 7.2% per year and with growth of 9% in 2010. The country’s GDP at Purchasing Power Parity in 2012 was estimated to be $48.643 billion. The per capita GDP according to the same calculation stood at $5,827. The nominal GDP in 2012 was estimated to total $38.584 billion. During the past two years, Paraguay's GDP growth rate was a relatively high 6.4%. The composition by Sector of the aforementioned activity breaks is dominated by the Services sector which a staggering 61% of total activity followed by the Agriculture and Industry sectors with respective shares of 20% and 19% of total output. The consumption expenditure has evolved constantly over the last years and stands breaks down into 11% on behalf of Government and 89% on behalf of Households.

Paraguay recorded a trade deficit of 138.13 USD Million in April of 2013. Historically, from 1994 until 2013, Paraguay Balance...