An Introduction to Paraguay
Paraguay achieved its independence from Spain in 1811 as a much larger state than it is today. In the disastrous War of the Triple Alliance (1865-70) - between Paraguay and enemies Argentina, Brazil, and Uruguay - Paraguay lost two-thirds of all its adult males and much of its territory. The country stagnated economically for the next half century, but regained a little territory following the Chaco War of 1932-35 with Bolivia. See full country profile.
GOVERNMENT: constitutional republic
AREA: 406,752 sq km
POPULATION: 6,459,058 (July 2011 est.)
MAJOR LANGUAGE: Official Languages: Spanish, Guarani
Some business and general info
The Market Research Industry
Trade and Industry in Paraguay
Paraguay has competed in every summer games but one (1980) since 1968, but only won its first medal - Silver in Men's football - at Athens 2004.
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Paraguay achieved its independence from Spain in 1811 as a much larger state than it is today. In the disastrous War of the Triple Alliance (1865-70) - between Paraguay and enemies Argentina, Brazil, and Uruguay - Paraguay lost two-thirds of all its adult males and much of its territory. The country stagnated economically for the next half century, but regained a little territory following the Chaco War of 1932-35 with Bolivia.
The 35-year military dictatorship of Alfredo Stroessner ended in 1989, and despite a recent increase in political tensions the country has held relatively free and regular presidential elections since then. In 2010 it experienced the largest economic expansion in Latin America and the second fastest in the world, after Qatar.
GDP: $33.31 billion (2010 est.) - $5,200 per capita
Religions Roman Catholic 89.6%, Protestant 6.2%, other Christian 1.1%, other or unspecified 1.9%, none 1.1% (2002 census)
Currency: Guarani (PYG) - $1 = PYG 6.98
Telephone Code: +595
Research Industry
Paraguay has the second fastest growing research market in Latin America, showing a net growth of 15% in 2010, fuelled by strong GDP growth and new investors looking for new opportunities. Turnover was $4m in 2010.Paraguay's largely informal economy is distinguished by re-export of imported consumer goods to neighbouring countries; thousands of microenterprises and urban street vendors; and subsistence agriculture.
Real per capita income stagnated at 1980 levels until a boom between 2003 and 2008 based on world demand for its commodity-based exports. Drought and global recession brought two bad years in 2008-9 but the government's fiscal and monetary stimulus helped turn things around to give 14.5% growth in 2010, the highest in South America. Political uncertainty, corruption and poor infrastructure remain big obstacles to growth.
Exports include soybeans, feed, cotton, meat, edible oils, electricity, wood and leather and in 2010 totalled c.$8.3bn, going to Uruguay, Brazil, Chile and Argentina as well as several European countries. Imports were higher at just over $9.8bn, were mostly made up of vehicles, tobacco, petrol, machinery and chemicals and went to Brazil, followed by China, the USA and Argentina.
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