Paraguay
- Author: Economic Commission for Latin America and the Caribbean
- Main Title: Economic Survey of Latin America and the Caribbean 2006-2007 , pp 153-159
- Publication Date: April 2007
- DOI: https://doi.org/10.18356/9c8fa82d-en
- Language: English
The Paraguayan economy’s expansion by 4.2% in 2006 was driven by the service sector, which registered an exceptionally high growth rate of 6.3%. The agricultural sector recorded a moderate upturn of 0.6% in what turned out to be the third consecutive year of drought. The livestock sector expanded by 9%, with meat exports soaring by 67% as a consequence of an outbreak of foot-and-mouth disease in Brazil and the restrictions placed on Argentine meat exports. The current account showed a deficit of around 2% of GDP despite these results, but the capital and financial account reflected substantial inflows of foreign exchange into the country which resulted in a 13% appreciation of the guaraní against the United States dollar. Inflation rebounded considerably in the last three months to close the year at 12.5%, mainly due to supply constraints in the fruit and vegetable sector.
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