Country Info >> Paraguay

Landlocked Paraguay has a market economy marked by a large informal sector. This sector features both reexport of imported consumer goods to neighboring countries, as well as the activities of thousands of microenterprises and urban street vendors. Because of the importance of the informal sector, accurate economic measures are difficult to obtain. A large percentage of the population derives its living from agricultural activity, often on a subsistence basis. On a per capita basis, real income has stagnated at 1980 levels. Most observers attribute Paraguay's poor economic performance to political uncertainty, corruption, lack of progress on structural reform, substantial internal and external debt, and deficient infrastructure. Aided by a firmer exchange rate and perhaps a greater confidence in the economic policy of the DUARTE FRUTOS administration, the economy rebounded between 2003 and 2007, posting modest growth each year.

Source:  CIA-The World Factbook

Per Capita GDP
$4,000 as of (est. 2007) Source: CIA-The World Factbook

Main-Line Phones
331,100 as of (2006) Source: CIA-The World Factbook

Mobile Phones
3,233,000 as of (2006) Source: CIA-The World Factbook

Internet Users
260,000 as of (2006) Source: CIA-The World Factbook

Cable TV Households
130,000 as of (2007) Source: LMS est.

Time Zone Vs. Eastern Time (New York, Miami)
+2 hours, during Daylight Standard Time

Country Statistics

Government Type
Constitutional Republic
President Nicanor Duarte Frutos
Primary Religion(s)
Roman Catholic (90%)
Paragayan Guarani (PYG)
Exchange Rate
5,070 PYG per US$1 (April '07)
6,669,086 (July 2007 est.)
Central South America, northeast of Argentina
406,750 sq kms, slightly smaller than California
Border Countries
Argentina, Bolivia, Brazil
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