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Paraguay Economy 1998 https://greekorthodoxchurch.org/wfb1998/paraguay/paraguay_economy.html SOURCE: 1998 CIA WORLD FACTBOOK Economy - overview Paraguay has a market economy marked by a large informal sector. The informal sector features both reexport of imported consumer goods (electronics, whiskeys, perfumes, cigarettes, and office equipment) to neighboring countries as well as the activities of thousands of microenterprises and urban street vendors. The formal sector is largely oriented toward services. A large percentage of the population derive their living from agricultural activity, often on a subsistence basis. The formal economy has grown an average of about 3% over the past five years. However, population has increased at about the same rate over the same period, leaving per capita income nearly stagnant. The WASMOSY government has continued to pursue its economic reform agenda, albeit with limited success because of in-fighting in the ruling party and resistance from the opposition. Paraguay's ongoing integration into Mercosur (the Southern Cone Common Market) offers potential for investment and growth. GDP purchasing power parity - $21.9 billion (1997 est.) GDP - real growth rate 2.6% (1997 est.) GDP - per capita purchasing power parity - $3,900 (1997 est.) GDP - composition by sector
Inflation rate - consumer price index 6.2% (1997) Labor force
Unemployment rate 8.2% (urban) (1996 est.) Budget
Industries meat packing, oilseed crushing, milling, brewing, textiles, other light consumer goods, cement, construction Industrial production growth rate 5.1% (1995) Electricity - capacity 6.533 million kW (1995) Electricity - production
40.05 billion kWh (1995)
Electricity - consumption per capita 577 kWh (1995) Agriculture - products cotton, sugarcane, soybeans, corn, wheat, tobacco, cassava (tapioca), fruits, vegetables; beef, pork, eggs, milk; timber Exports
Imports
Debt - external $1.3 billion (1996) Economic aid
Currency 1 guarani (G) = 100 centimos Exchange rates guaranies (G) per US$ - 2,528.8 (January 1998), 2,191.0 (1997), 2,062.8 (1996), 1,970.4 (1995), 1,911.5 (1994), 1,744.3 (1993) Fiscal year
calendar year
NOTE: The information regarding Paraguay on this page is re-published from the 1998 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Paraguay Economy 1998 information contained here. All suggestions for corrections of any errors about Paraguay Economy 1998 should be addressed to the CIA. |