Paraguay

An ethnic mixture of native American and Spanish descendants, with a population of over 6 million, Paraguay is located in inland South America, some distance from any coast. Its market economy has seen great growth in real GDP, which increased to more than US$ 9 billion in 2006. Agriculture dominates the country’s economy with primary exports of soybeans, cattle, cotton, grains and sugar. Other defining characteristics of Paraguay’s economy include its large informal sector (including micro enterprises and urban street vendors) and the fact that the market is dependent on international trade and commerce. However, of growing importance is the country’s services sector, which accounted for 60% of Paraguay’s GDP in 2007 and 40% of total employment.

Sustainable Development Goals:

Industry, Innovation and Infrastructure

Peace, Justice and Strong Institutions