GDP in Paraguay

Paraguay GDP | Economic News & Forecasts

Paraguay - GDP

The economy has had a poor start to the year. Following tepid growth in January, activity contracted over 5% year on year in February–April, amid lower soybean production as a result of drought. Moreover, a much higher unemployment rate in Q1, double-digit inflation and tepid consumer sentiment have likely weighed on household spending. These factors more than offset the boost from the removal of virtually all remaining Covid-19 restrictions in February, and strong credit growth through April. In mid-May, S&P Global Ratings confirmed its ‘BB’ rating despite the adverse economic impact of the drought, citing fiscal prudence and robust medium-term growth prospects. In other news, the government recently announced a minimum wage increase of 11.4%. While this should provide support to spending in the near term, the move could also be inflationary.

Paraguay - GDP Data

2015   2016   2017   2018   2019  
Economic Growth (GDP, annual variation in %)3.1  4.3  5.0  3.4  0.0  

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Paraguay GDP Chart

Paraguay GDP
Note: Annual variation of gross domestic product (GDP) in %.
Source: Central Bank of Paraguay.

Paraguay Facts

Value Change Date
Exchange Rate6,4530.18 %Jan 01

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