Introduction
Background
Paraguay achieved its independence from Spain in 1811. The 35-year military dictatorship of Alfredo STROESSNER ended in 1989, and Paraguay has held relatively free and regular presidential elections since the country's return to democracy.
Geography
Area
total: 406,752 sq km
land: 397,302 sq km
water: 9,450 sq km
Climate
subtropical to temperate; substantial rainfall in the eastern portions, becoming semiarid in the far west
Natural resources
hydropower, timber, iron ore, manganese, limestone
People and Society
Population
7,439,863 (2023 est.)
Ethnic groups
Mestizo (mixed Spanish and Amerindian ancestry) 95%, other 5%
Languages
Spanish (official) and Guarani (official) 46.3%, only Guarani 34%, only Spanish 15.2%, other (includes Portuguese, German, other Indigenous languages) 4.1%, no response 0.4%; note - data represent predominant household language (2012 est.)
Religions
Roman Catholic 80.4%, Protestant 7% (Evangelical (non-specific) 6.7%, Evangelical Pentecostal <0.1%, Seventh Day Adventist <0.1%, Protestant (non-specific) <0.1%), Believer (not belonging to church) 5.7%, other 0.6%, agnostic <0.1%, none 0.2%, unspecified 6.2% (2023 est.)
Population growth rate
1.12% (2023 est.)
Government
Government type
presidential republic
Capital
name: Asuncion
Executive branch
chief of state: President Santiago PEÑA Palacios (since 15 August 2023); Vice President Pedro Lorenzo ALLIANA Rodríguez (since 15 August 2023); note - the president is both chief of state and head of government
head of government: President Santiago PEÑA Palacios (since 15 August 2023); Vice President Pedro Lorenzo ALLIANA Rodríguez (since 15 August 2023)
Legislative branch
description: bicameral National Congress or Congreso Nacional consists of:
Chamber of Senators or Camara de Senadores (45 seats; members directly elected in a single nationwide constituency by closed-list proportional representation vote to serve 5-year terms)
Chamber of Deputies or Camara de Diputados (80 seats; members directly elected in 18 multi-seat constituencies - corresponding to the country's 17 departments and capital city - by closed-list proportional representation vote to serve 5-year terms)
Economy
Economic overview
upper middle-income South American economy; COVID-19 hit while still recovering from 2019 Argentina-driven recession; global hydroelectricity leader; major corruption and money-laundering locale; highly agrarian economy; significant income inequality
Real GDP (purchasing power parity)
$91.759 billion (2021 est.)
$88.143 billion (2020 est.)
$88.872 billion (2019 est.)
Real GDP per capita
$13,700 (2021 est.)
$13,300 (2020 est.)
$13,600 (2019 est.)
Agricultural products
soybeans, sugar cane, maize, cassava, wheat, rice, beef, milk, oranges, oil palm fruit
Industries
sugar processing, cement, textiles, beverages, wood products, steel, base metals, electric power
Remittances
1.48% of GDP (2021 est.)
1.65% of GDP (2020 est.)
1.76% of GDP (2019 est.)
Exports
$14.154 billion (2021 est.)
$11.794 billion (2020 est.)
$13.272 billion (2019 est.)
Exports - partners
Brazil 32%, Argentina 22%, Chile 8%, Russia 8% (2019)
Exports - commodities
soybeans and soybean products, electricity, beef, corn, insulated wiring (2019)
Imports
$13.454 billion (2021 est.)
$10.46 billion (2020 est.)
$13.146 billion (2019 est.)
Imports - partners
Brazil 24%, United States 22%, China 17%, Argentina 10%, Chile 5% (2019)
Imports - commodities
broadcasting equipment, cars, pesticides, refined petroleum, tires (2019)
Exchange rates
guarani (PYG) per US dollar -
Exchange rates:
6,774.163 (2021 est.)
6,771.097 (2020 est.)
6,240.722 (2019 est.)
5,732.105 (2018 est.)
5,618.933 (2017 est.)
Page last updated: Wednesday, December 20, 2023
