Paraguay

Country Summary

2023 population pyramid

Introduction

Background

Paraguay achieved its independence from Spain in 1811. 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.

Geography

Area

total: 406,752 sq km
land: 397,302 sq km
water: 9,450 sq km

Climate

subtropical to temperate; substantial rainfall in the eastern portions, becoming semiarid in the far west

Natural resources

hydropower, timber, iron ore, manganese, limestone

People and Society

Population

total: 7,522,549
male: 3,769,376
female: 3,753,173 (2024 est.)

Ethnic 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%; note - data represent predominant household language (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.)

Population growth rate

1.09% (2024 est.)

Government

Government type

presidential republic

Capital

name: Asunción

Executive branch

chief of state: President Santiago PEÑA Palacios (since 15 August 2023)
head of government: President Santiago PEÑA Palacios (since 15 August 2023)

Legislative branch

description: bicameral National Congress or Congreso Nacional consists of:
Chamber of Senators or Camara de Senadores (45 seats; members directly elected in a single nationwide constituency by closed-list proportional representation vote to serve 5-year terms)
Chamber of Deputies or Camara de Diputados (80 seats; members directly elected in 18 multi-seat constituencies - corresponding to the country's 17 departments and capital city - by closed-list proportional representation vote to serve 5-year terms)

Economy

Economic overview

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

Real GDP (purchasing power parity)

$91.753 billion (2022 est.)
$91.684 billion (2021 est.)
$88.143 billion (2020 est.)

Real GDP per capita

$13,500 (2022 est.)
$13,700 (2021 est.)
$13,300 (2020 est.)

Agricultural products

sugarcane, maize, soybeans, cassava, rice, wheat, milk, beef, oranges, oil palm fruit (2022)

Industries

sugar processing, cement, textiles, beverages, wood products, steel, base metals, electric power

Exports

$14.971 billion (2022 est.)
$14.821 billion (2021 est.)
$12.339 billion (2020 est.)

Exports - partners

Brazil 36%, Argentina 19%, Chile 12%, Russia 4%, US 3% (2022)

Exports - commodities

beef, electricity, soybeans, corn, soybean meal (2022)

Imports

$17.142 billion (2022 est.)
$14.316 billion (2021 est.)
$10.982 billion (2020 est.)

Imports - partners

China 28%, Brazil 23%, US 11%, Argentina 8%, Chile 3% (2022)

Imports - commodities

refined petroleum, broadcasting equipment, cars, fertilizers, pesticides (2022)

Exchange rates

guarani (PYG) per US dollar -
Exchange rates:
6,982.752 (2022 est.)
6,774.163 (2021 est.)
6,771.097 (2020 est.)
6,240.722 (2019 est.)
5,732.105 (2018 est.)


Page last updated: Tuesday, July 09, 2024