1945

The Paraguayan economy grew by 2.9% in 2005, boosted by the expansion of the livestock sector (18% real growth for the year), commerce (3.6%) and communications (12%), and despite a 5.8% downturn in crop-farming owing to the impact of drought on a number of crops. The overall figure reflects a slowing of the economy in comparison with the recovery enjoyed in the two previous years, which had followed the downswings of 1999 and 2000. The economy had expanded in 2003 and 2004 despite the drought, with growth rates of 3.8% and 4.1%, respectively, both of which exceeded the 1992-1998 average of 3%. Thanks to a favourable international context, the economy is expected to pick up in 2006, with growth projected at over 3%.

Related Subject(s): Economic and Social Development
Countries: Paraguay
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