Paraguay
Description of Paraguay
Paraguay, a landlocked country nestled in the heart of South America, boasts a rich tapestry of culture, history, and natural landscapes. As a nation with a burgeoning agricultural sector and a growing economy, Paraguay stands at a pivotal crossroads of development and opportunity. From the bustling streets of Asunción to the tranquil shores of the Paraguay River, this country's unique blend of tradition and modernity offers a compelling narrative of resilience and growth. Join us as we delve into the intricate dynamics shaping Paraguay's macroeconomic landscape and its place in the global arena.
Population And Age Structure
Paraguay's total population of 6,618,695 ranks 107 out of 194 countries, below the average population of 40,097,746. Paraguay has a higher percentage of population in the 0-14 age group (29.21%) compared to the average of 27.34%, ranking 80 out of 194 countries. The total number of individuals in that age group is 1,933,132, ranking 100.
Regarding the 15-64 age group, Paraguay's percentage of 64.63% is slightly above the average of 63.44%, placing it at rank 96. The total population in this age group is 4,277,704, which is below the average of 26,003,407 and ranks 107 out of 194 countries.
Paraguay has a lower percentage of population aged 65 and above (6.16%) compared to the average of 9.22%, ranking 102. The total number of individuals in this age group is 407,860, below the average of 3,766,959 and ranks 109.
Summary
Paraguay has a relatively young population with a higher percentage in the 0-14 age group and a slightly higher percentage in the 15-64 age group compared to the global average. However, it has a lower percentage of population aged 65 and above. These demographics are important as they can impact various aspects of the economy such as labor force dynamics, healthcare expenditures, and pension system sustainability.
Population Miscellaneous
Paraguay's rural population stands at 2,502,992, significantly below the average of 18,044,041. Paraguay ranks 98 out of 190 countries in this category.
The percentage of Paraguay's total population classified as urban is 62.183%, slightly above the average of 59.6905%. Paraguay is ranked 95 out of 194 countries in terms of urban population.
The age dependency ratio in Paraguay is 54.73%, lower than the average of 59.22%. Paraguay ranks 99 out of 194 countries in this aspect.
Paraguay's crude birth rate of 20.946 per 1,000 people is higher than the average of 19.3841. Paraguay is ranked 73 out of 192 countries in birth rate.
Conversely, Paraguay's crude death rate of 5.916 per 1,000 people is below the average of 8.2136. Paraguay ranks 155 out of 192 countries in this metric.
The total fertility rate in Paraguay is 2.497 births per woman, slightly lower than the average of 2.6029. Paraguay is ranked 77 out of 190 countries in fertility rate.
Summary
Paraguay has a relatively small rural population compared to the global average and a higher urban population percentage. The country also has a lower age dependency ratio, a higher crude birth rate, lower crude death rate, and a slightly lower total fertility rate compared to global averages. These indicators are crucial in understanding Paraguay's demographic composition, economic development, healthcare system, and potential future population trends.
Military
Paraguay's military expenditure, at around $364 million, is significantly below the global average ($12.9 billion). Ranked 94th out of 149 countries, Paraguay's focus country difference from the average is notable.
In terms of military expenditure as a percentage of GDP, Paraguay spends approximately 1.03%, which is below the average of 1.90%. With a rank of 109th out of 148 countries, Paraguay's allocation towards its military is comparatively lower.
Paraguay has 29,000 armed forces personnel, much lower than the average of 165,909. This places Paraguay at the 88th position out of 164 countries, highlighting its leaner military manpower compared to the global average.
With armed forces personnel accounting for 0.88% of the total labor force in Paraguay, below the average of 1.28%, the country's rank of 76th out of 164 countries indicates a smaller military workforce relative to the labor force size globally.
Summary
Paraguay's military expenditure, as a percentage of both its GDP and total labor force, falls below global averages. This indicates a conscious decision by the government to allocate fewer resources to the military compared to other countries. These findings are crucial as they highlight Paraguay's strategic prioritization of economic development and social welfare over militarization, showcasing a unique approach to national security within the global landscape.
Natural Resources
Paraguay's forest area covers 161,022.6 sq. km, ranking 42 out of 191 countries in the dataset. This value falls below the average forest area of 211,606.11 sq. km.
The land area of Paraguay is 397,300 sq. km, ranking 59 out of 194 countries. This land area is below the average of 665,166.51 sq. km.
Paraguay's surface area spans 406,752 sq. km, placing it at rank 60 out of 194 countries, below the average surface area of 689,779.56 sq. km.
With 4,734,000 hectares of arable land, Paraguay ranks 49 out of 190 countries, below the average arable land of 7,329,543.16 hectares.
The country has 1,791,825 hectares of land under cereal production, ranking 59 out of 174 countries, which is below the average of 4,206,011.63 hectares.
Paraguay receives an average annual precipitation depth of 1,130 mm, positioning it at rank 80 out of 178 countries, slightly below the average depth of 1,157.83 mm.
Paraguay's renewable internal freshwater resources total 117 billion cubic meters, ranking 51 out of 178 countries and falling below the average of 240.41 billion cubic meters.
Summary
Paraguay's land characteristics, including forest area, land area, surface area, arable land, and precipitation depth, are all below the global averages based on the dataset. This indicates that Paraguay may face challenges in terms of land availability and agricultural productivity compared to the average country in the dataset. The country's renewable internal freshwater resources also fall significantly below the global average, highlighting potential water scarcity issues that could impact various sectors such as agriculture, industry, and overall sustainable development.
Resource Rents
Paraguay's total natural resources rents account for 1.68% of its GDP, which is below the average of 4.63%. This puts Paraguay at rank 83 out of 175 countries in the dataset.
When it comes to forest rents, Paraguay's value stands at 1.65% of GDP, slightly above the average of 1.53%. In this category, Paraguay ranks 40 out of 174 countries.
Paraguay's oil rents, at 0.03% of GDP, are significantly lower than the average of 2.51%. Paraguay holds the 80th position out of 117 countries in this aspect.
Summary
Paraguay has below-average total natural resources rents as a percentage of GDP, placing it at rank 83 out of 175 countries. However, its forest rents are slightly above the average, ranking at 40 out of 174 countries. On the other hand, Paraguay's oil rents are significantly lower than the global average, placing it at the 80th position out of 117 countries.
These findings are crucial for Paraguay as they indicate the country's utilization and potential exploitation of its natural resources. Understanding these figures can help policymakers make informed decisions regarding resource management, economic development strategies, and sustainable growth initiatives.
Commodities
Paraguay's Cereal production of 8,433,186 metric tons is below the attribute average of 17,249,945. Paraguay ranks 42 out of 174 countries in this category.
Aquaculture production in Paraguay is 14,100 metric tons, significantly lower than the attribute average of 679,642. Paraguay ranks 71 out of 180 countries in this aspect.
Paraguay's Capture fisheries production of 16,975 metric tons is well below the attribute average of 467,453. Paraguay is ranked 127 out of 190 countries for this metric.
With a Total fisheries production of 31,075 metric tons, Paraguay falls short of the attribute average of 1,153,914. Paraguay ranks 114 out of 182 countries in Total fisheries production.
Paraguay's Fertilizer consumption rate of 123.42 kilograms per hectare of arable land is below the attribute average of 159.04. The country is ranked 79 out of 187 countries for this indicator.
Summary
Paraguay's agricultural sector faces challenges across multiple key indicators. The country's cereal, aquaculture, capture fisheries, and total fisheries productions all fall significantly below global averages, indicating potential inefficiencies and room for growth in these sectors. Furthermore, Paraguay's below-average fertilizer consumption rate suggests a potential opportunity for increased productivity and sustainability in its agricultural practices, which is crucial for ensuring food security and economic development.
Intellectual Property
Paraguay's industrial design applications by nonresidents are below average with 130 applications, ranking 69 out of 112 countries. Resident industrial design applications are significantly below average at 10 applications, ranking 97 out of 113 countries.
The country's patent applications by nonresidents are also below average with 323 applications, ranking 48 out of 129 countries. Resident patent applications are well below average at 14 applications, ranking 92 out of 117 countries.
Paraguay's trademark applications by nonresidents stand below average with 9254 applications, ranking 41 out of 130 countries. Resident trademark applications are significantly below average, with 14829 applications, ranking 41 out of 129 countries.
The number of scientific and technical journal articles from Paraguay is notably below average at 153.54, ranking 127 out of 192 countries included in the data.
Paraguay's charges for the use of intellectual property are substantially below average at $18,500,000, ranking 93 out of 143 countries.
The presence of researchers in R&D per million people is significantly below average in Paraguay at 140.88, ranking 67 out of 72 countries in the dataset.
Summary
Paraguay's performance in industrial design, patent applications, trademark applications, scientific research articles, intellectual property charges, and R&D researchers is consistently below average compared to other countries. These indicators are crucial for economic development as they signify a lack of innovation, investment in research and development, and protection of intellectual property rights, which are essential for fostering competitiveness and driving growth in the global economy.
Broad Economy Attributes
GDP (current US$): Paraguay's GDP is $35,432,178,068.18, well below the average of $442,870,224,838.68. Paraguay ranks 93rd out of 189 countries in this statistic.
GDP, PPP (current international $): Paraguay's GDP, PPP is $93,080,519,325.49, significantly lower than the average of $734,141,122,350.78. Paraguay is ranked 90th out of 181 countries in this category.
GDP per capita (current US$): Paraguay's GDP per capita is $5,353.35, much lower than the average of $15,462.11. Paraguay ranks 98th out of 190 countries in this metric.
GDP per capita, PPP (current international $): Paraguay's GDP per capita, PPP amounts to $14,063.27, below the average of $21,251.89. Paraguay ranks 90th out of 181 countries in this particular measure.
GNI (current US$): Paraguay's GNI is $34,236,971,783.62, significantly lower than the average of $452,040,815,370.70. Paraguay holds the 93rd position out of 185 countries in this aspect.
GNI, PPP (current international $): Paraguay's GNI, PPP stands at $89,940,706,089.79, well below the average of $730,698,223,823.47. Paraguay is ranked 90th out of 181 countries based on this statistic.
GNI per capita, PPP (current international $): Paraguay's GNI per capita, PPP is $13,590, lower than the average of $20,615.75. Paraguay ranks 89th out of 181 countries in this specific metric.
Summary
Paraguay's macroeconomic indicators such as GDP, GDP per capita, and GNI consistently rank below global averages, positioning the country in the lower percentiles globally. These statistics highlight Paraguay's economic challenges and indicate the need for targeted strategies to improve economic performance, enhance income levels, and foster sustainable development in the country. Addressing these economic disparities is crucial for Paraguay to enhance its competitiveness, attract investments, and elevate the standard of living for its citizens.
Broad Value Added
Paraguay's Gross value added at basic prices (GVA) is $32,982,723,093.50, below the average of $360,070,943,595.12, ranking 87th out of 176 countries.
In Agriculture, forestry, and fishing, Paraguay's value added as a percentage of GDP is 10.73%, slightly below the average of 10.86%, placing it 68th out of 182 countries.
Paraguay's Agriculture, forestry, and fishing value added in current US dollars is $3,801,160,619.93, significantly below the average of $19,924,732,828.07, ranking 84th out of 182 countries.
Services value added as a percentage of GDP in Paraguay is 48.15%, lower than the average of 56.72%, resulting in a rank of 147th out of 183 countries.
Paraguay's Services value added in current US dollars is $17,062,234,266.28, well below the average of $295,837,711,130.69, with a rank of 98th out of 183 countries.
In Industry (including construction), Paraguay's value added in current US dollars is $12,119,328,207.29, significantly below the average of $118,421,095,413.50, ranking 85th out of 183 countries.
Summary
Paraguay's Gross Value Added at basic prices is notably below the global average, ranking 87th out of 176 countries. The country's Agriculture, forestry, and fishing sector contributes less to its GDP compared to the average, while its Services and Industry sectors also lag behind concerning both percentage of GDP and current US dollar value added, impacting its overall economic competitiveness and growth potential.
Manufacturing Value Added
Paraguay's manufacturing, value added (current US$) is $6.63 billion, ranking 77 out of 173 countries. This is significantly below the average manufacturing value added of $76.21 billion.
Paraguay's manufacturing, value added (% of GDP) is 18.70%, ranking 25 out of 173 countries. This percentage is notably above the average of 11.90%.
In terms of medium and high-tech manufacturing value added (% manufacturing value added), Paraguay's value of 21.83% places it at rank 78 out of 149 countries. It is slightly below the average of 24.49%.
Summary
Paraguay's manufacturing sector, although having a lower overall value added compared to the global average, shows a higher contribution to its GDP and a focus on medium and high-tech manufacturing. The country's emphasis on technological advancements within its manufacturing industry positions it competitively in the global market despite ranking slightly below the average in this specific category.
These findings are important as they indicate Paraguay's potential for economic growth and diversification through technology-driven manufacturing activities. By prioritizing medium and high-tech manufacturing, Paraguay can enhance its industrial capabilities, attract foreign investments, and create higher value-added products for export, ultimately leading to sustainable economic development and increased competitiveness on the international stage.
Money
Paraguay's consumer price inflation rate is 1.77%, which is below the average of 8.26%. This places Paraguay at rank 90 out of 165 countries in the dataset for this attribute.
For GDP deflator inflation, Paraguay's rate is 2.20%, also below the average of 6.90%. The country is ranked 87 out of 188 countries in this dataset.
Paraguay's broad money growth rate stands at 19.22%, slightly above the average of 18.03%. This places Paraguay at rank 30 out of 139 countries.
When it comes to the broad money as a percentage of GDP, Paraguay's value is 54.18%, below the average of 71.75%. The country is ranked 86 out of 139 countries for this attribute.
Finally, Paraguay's broad money to total reserves ratio is 2.09, below the average of 5.17, placing the country at rank 88 out of 126 countries.
Summary
Paraguay generally exhibits lower consumer price inflation, GDP deflator inflation, and broad money as a percentage of GDP compared to the global averages, indicating relative stability in these macroeconomic indicators. However, the country has a higher-than-average broad money growth rate, suggesting robust monetary expansion. Paraguay's broad money to total reserves ratio is also below average, indicating lower foreign exchange reserves relative to its money supply. These statistics are crucial as they highlight Paraguay's economic performance, its monetary policy effectiveness, and its vulnerability to external shocks due to lower reserve levels.
Consumption Expenditure
Paraguay's final consumption expenditure in current US dollars is $26,991,348,565.83, significantly below the average of $381,630,252,515.38, ranking 89 out of 159 countries.
Final consumption expenditure as a percentage of GDP for Paraguay is 76.18%, slightly below the average of 82.37%, placing it at rank 102 out of 159 countries.
Paraguay's general government final consumption expenditure in current US dollars amounts to $4,480,212,131.83, well below the average of $93,676,578,238.03, ranking 91 out of 158 countries.
The general government final consumption expenditure as a percentage of GDP for Paraguay is 12.64%, below the average of 18.71%, with a rank of 119 out of 158 countries.
Household and NPISHs final consumption expenditure in current US dollars for Paraguay stands at $22,511,136,433.99, significantly below the average of $290,127,571,157.69, placing it at rank 87 out of 158 countries.
Paraguay's households and NPISHs final consumption expenditure as a percentage of GDP is 63.53%, slightly below the average of 63.68%, with a rank of 74 out of 158 countries.
Summary
Paraguay's final consumption expenditure, both in total and for different sectors, is notably below global averages, placing the country at ranks ranging from 74 to 119 among 158-159 countries. This indicates that Paraguay has a lower level of consumption compared to the average global expenditures. The disparity in consumption levels could reflect income disparities, differing consumption patterns, or possibly indicate areas for potential economic growth and development.
Investment
Paraguay's net Foreign Direct Investment (FDI) is below average at -119,602,736.80 USD, ranking 61st out of 169 countries. In terms of net FDI inflows, Paraguay's value of 198,452,641.75 USD is significantly below the average, ranking 113th out of 182 countries. The net FDI inflows as a percentage of Paraguay's GDP stand at 0.56%, well below the average, placing Paraguay 131st out of 178 countries in the ranking. Paraguay's net FDI outflows of 39,828,512.96 USD are also lower than the average, securing a rank of 82 out of 156 countries. Moreover, the net FDI outflows as a percentage of Paraguay's GDP at 0.11% are considerably under the average, positioning Paraguay 92nd out of 155 countries. Paraguay's Portfolio Investment net value is notably below average at -2,168,859,732.13 USD, giving Paraguay a rank of 136 out of 159 countries. While the Portfolio Investment in bonds value for Paraguay at 2,000,000,000 USD is below average, it ranks Paraguay 17th out of 59 countries. Lastly, Paraguay's Portfolio Equity net inflow of 5,375,630.13 USD is significantly under the average, placing Paraguay at 48 out of 125 countries.
Summary
Paraguay's foreign direct investment (FDI) indicators paint a picture of below-average inflows and outflows, with FDI as a percentage of GDP significantly lagging behind the global average. This suggests limited foreign investor interest in the country's economic prospects. The low portfolio investment values further underscore Paraguay's challenges in attracting external financial support and capital for sustainable economic development.
Debt
Paraguay's total debt service as a percentage of Gross National Income (GNI) stands at 3.36%, which is below the average of 5.98%. This places Paraguay at rank 68 out of 120 countries in the dataset.
When it comes to public and publicly guaranteed debt service as a percentage of GNI, Paraguay's value is 1.68%, lower than the average of 2.84%. This ranks Paraguay at position 70 out of 120 countries.
Paraguay's external debt stocks as a percentage of GNI are recorded at 60.54%, which is lower than the average of 65.42%. This places Paraguay at rank 47 out of 120 countries in the dataset.
The debt service on external debt, both total and public and publicly guaranteed, in Paraguay is significantly lower than the respective averages of $9811195839.23 and $3310612057.60. Paraguay ranks 63 and 61 out of 123 countries for total debt service and public debt service respectively.
Paraguay's external debt stocks, both public and publicly guaranteed and private nonguaranteed, are notably lower than the corresponding averages in the dataset. The country ranks 56 out of 123 countries for public and publicly guaranteed debt and 40 out of 91 countries for private nonguaranteed debt.
Finally, Paraguay's total external debt stocks amount to $20727223299.60, significantly below the average of $73845530111.82, ranking the country 49 out of 123 countries.
Summary
Paraguay demonstrates a prudent approach to managing its debt, with lower values than the average in key indicators such as total debt service, external debt stocks, and public debt service. This positions Paraguay favorably in international rankings and signifies the country's relative financial stability and sustainability in comparison to its peers. It showcases Paraguay's ability to maintain manageable debt levels while ensuring financial obligations are met responsibly, which is crucial for attracting investments, maintaining economic stability, and fostering long-term growth.
Broad Trade Attributes
Paraguay's Trade (% of GDP) stands at 62.76%, below the average of 82.34%. The country ranks 92nd out of 163 countries in this attribute.
Paraguay's Merchandise trade (% of GDP) is 52.88%, below the average of 60.01%. The country holds the 88th rank out of 186 countries.
Trade in services (% of GDP) for Paraguay is 7.44%, significantly lower than the average of 24.63%. The country ranks 139th out of 171 countries.
The External balance on goods and services (current US$) for Paraguay is $1,339,703,583.79, below the average of $3,405,509,011.13. Paraguay ranks 50th out of 163 countries in this aspect.
Paraguay's External balance on goods and services (% of GDP) is 3.78%, higher than the average of -5.97%. Paraguay is ranked 34th out of 163 countries in this category.
Summary
Paraguay has a lower than average Trade (% of GDP), Merchandise trade (% of GDP), and Trade in services (% of GDP), ranking 92nd, 88th, and 139th respectively out of the listed countries. However, the country performs better in terms of External balance on goods and services, both in absolute value and as a percentage of GDP, ranking 50th and 34th respectively. These indicators are crucial as they reflect Paraguay's level of integration into the global economy, its trade competitiveness, and its ability to generate foreign exchange.
Net Trade
Paraguay's current account balance is $685,187,843.74, which is below the average of $1,443,864,831.49, ranking 46 out of 170 countries. The current account balance as a percentage of GDP is 1.93%, above the average of -2.36%, placing Paraguay at rank 49 out of 170 countries.
Paraguay's net trade in goods and services is $1,357,203,465.61, significantly below the average of $2,604,730,003.57, ranking 52 out of 171 countries. The net primary income is -$1,195,206,284.56, lower than the average of -$903,807,529.74, placing Paraguay at rank 108 out of 170 countries.
Paraguay's net secondary income is $523,190,662.70, higher than the average of -$269,227,340.40, ranking 78 out of 170 countries. In terms of net trade in goods, Paraguay's value is $1,225,782,461.45, slightly below the average of $1,302,831,005.68, at rank 54 out of 171 countries.
Regarding the net capital account, Paraguay records $171,747,589.75, exceeding the average of $136,543,824.05, at rank 53 out of 159 countries. Lastly, the net financial account for Paraguay is $151,053,165.13, notably above the average of -$469,840,994.63, placing Paraguay at rank 64 out of 170 countries.
Summary
Paraguay demonstrates a stable current account balance and a positive net secondary income, indicating the country's ability to manage its international trade and finances efficiently. Despite challenges in net primary income, Paraguay's net capital and financial accounts exceed global averages, reflecting investor confidence and potential for economic growth.
These indicators are crucial for assessing Paraguay's economic health and attractiveness to foreign investors. A positive current account balance signifies a good trade balance with the rest of the world, while a strong net financial account suggests healthy capital inflows. These statistics provide insight into Paraguay's economic stability and its potential for sustainable development in the global market.
Broad Export Attributes
Paraguay's exports of goods, services and primary income amount to $12,466,821,61.66, ranking 85th out of 170 countries. This value is significantly below the average of $146,238,908,936.30.
The country's exports of goods and services stand at $12,338,319,14.46, ranking 85th out of 170 countries, also notably below the average of $122,938,540,059.78.
Paraguay's exports of goods and services amount to $11,788,507,797.73, placing it at the 85th position out of 163 countries, well below the average of $129,596,864,610.19.
The exports of goods and services as a percentage of Paraguay's GDP are 33.27%, ranking 69th out of 163 countries, lower than the average of 38.19%.
Paraguay's goods exports total $10,954,940,596.29, positioning it at the 79th spot out of 171 countries, falling short of the average of $93,310,581,697.39.
Regarding international tourism receipts as a percentage of total exports, Paraguay stands at 0.84%, ranking 110th out of 120 countries, significantly below the average of 9.74%.
Paraguay's ICT goods exports as a percentage of total goods exports are 0.25%, placing it at the 92nd position out of 142 countries, notably below the average of 3.81%.
Summary
Paraguay's exports of goods, services, and primary income are notably below global averages, ranking 85th out of 170 countries in various categories. The country's exports as a percentage of GDP, goods exports, international tourism receipts, and ICT goods exports all fall below global averages, indicating a potential lack of diversification in its export portfolio and potential opportunities for growth and development in these sectors.
Merchandise Exports
Paraguay's merchandise exports amount to $8.52 billion, ranking 89th out of 187 countries. This value is substantially below the average of $89.54 billion.
The country's agricultural raw materials exports account for 1.31% of its merchandise exports, ranking 69th out of 151 countries. Paraguay's performance in this area falls below the average of 2.97%.
Paraguay's food exports represent 65.21% of its merchandise exports, ranking 13th out of 152 countries. This value is significantly above the average of 24.06%.
With fuel exports comprising 20.40% of merchandise exports, Paraguay ranks 30th out of 147 countries. This percentage exceeds the average of 13.70%.
For ores and metals exports, Paraguay's percentage stands at 0.63%, placing it 129th out of 152 countries. This value is notably below the average of 9.10%.
In the category of merchandise exports by the reporting economy, residual (% of total merchandise exports), Paraguay's figure is 0.12%. This places the country 104th out of 166 countries, below the average of 3.20%.
Summary
Paraguay has a diverse export profile with a strong focus on food products, which account for a significant portion of its total merchandise exports. However, the country lags behind in the export of agricultural raw materials and ores/metals compared to the global average. This mix of export composition is crucial as it highlights Paraguay's strengths and weaknesses in different sectors, guiding policymakers towards targeted strategies for economic development and trade expansion.
Technology Exports
Paraguay's manufactures exports account for 12.40% of its merchandise exports, which is significantly below the average of 42.62%. This places Paraguay at rank 116 out of 152 countries in the dataset.
The country's high-technology exports amount to $54,397,925, a stark contrast to the average of $16,655,934,078.80. Paraguay ranks 89th out of 151 countries in this category.
Paraguay's high-technology exports as a percentage of manufactured exports stand at 5.15%, which is below the average of 10.15%. The country is ranked 83rd out of 150 countries in this aspect.
In terms of medium and high-tech exports as a percentage of manufactured exports, Paraguay's figure is 28.05%, slightly lower than the average of 34.29%. This places Paraguay at the 83rd position out of 149 countries in the dataset.
Summary
Paraguay lags behind in key macroeconomic indicators related to exports. Its manufactures exports, high-technology exports, high-technology exports as a percentage of manufactured exports, and medium and high-tech exports as a percentage of manufactured exports all fall below global averages, ranking 116th, 89th, 83rd, and 83rd respectively. These indicators are crucial as they reflect Paraguay's competitiveness and integration into high-value global markets, pointing towards areas that may require attention and investment to enhance the country's economic growth and global standing.
Service Exports
Paraguay's Service exports amount to $1,383,891,318.17, which is significantly below the average of $28,917,292,503.82, ranking 99th out of 171 countries.
ICT service exports for Paraguay are $15,400,000, much lower than the average of $4,578,501,153.77, placing Paraguay at 124th out of 166 countries in this category.
Paraguay's ICT service exports (% of service exports) stand at 1.11%, well below the average of 11.75%, with a rank of 156 out of 166 countries.
Communications, computer, etc. (% of service exports) for Paraguay is 53.32%, above the average of 45.85%, positioning Paraguay at the 67th rank out of 169 countries.
Transport services (% of service exports) in Paraguay amount to 30.94%, higher than the average of 21.80%, and ranking Paraguay 44th out of 169 countries.
Paraguay's Travel services (% of service exports) account for 14.53%, below the average of 26.40%, placing Paraguay at the 101st rank out of 167 countries.
Insurance and financial services (% of service exports) for Paraguay are 1.21%, also below the average of 6.46%, with a rank of 131 out of 161 countries.
Summary
Paraguay's service exports, ICT service exports, ICT service exports (% of service exports), Communications, computer, etc. (% of service exports), Transport services (% of service exports), Travel services (% of service exports), and Insurance and financial services (% of service exports) all fall below global averages, placing Paraguay in lower percentiles among countries. This indicates that Paraguay may have untapped potential for growth and development in these sectors. Improving and expanding these service exports can lead to increased revenue, job creation, and overall economic prosperity for the country.
Commercial Service Exports
Paraguay's commercial service exports amount to $1,202,489,703.92, ranking 104th out of 171 countries. This figure is significantly below the average of $28,508,218,402.80.
Travel services account for 16.72% of Paraguay's commercial service exports, placing it 97th out of 167 countries. This percentage is below the average of 27.89%.
Paraguay's computer, communications, and other services make up 46.28% of its commercial service exports, ranking 80th out of 169 countries. This percentage is above the average of 42.44%.
Insurance and financial services contribute 1.39% to Paraguay's commercial service exports, placing it 129th out of 161 countries. This percentage is notably below the average of 6.97%.
Transport services constitute 35.61% of Paraguay's commercial service exports, ranking 40th out of 169 countries. This percentage is significantly above the average of 23.37%.
Summary
Paraguay's commercial service exports exhibit a mixed performance compared to global averages. The country excels in the export of transport services, surpassing the average by a significant margin. However, Paraguay lags behind in the export of travel services and insurance/financial services, falling notably below the global averages. This analysis is crucial as it highlights the strengths and weaknesses of Paraguay's commercial service exports, indicating areas where the country can further leverage its competitive advantages and focus on improving competitiveness.
Broad Import Attributes
Paraguay's imports of goods and services in current US dollars amount to $10,448,804,213.94, ranking 90 out of 163 countries. This is significantly below the average of $126,191,355,599.06 for this attribute.
Paraguay's imports of goods and services as a percentage of GDP is 29.49%, ranking 109 out of 163 countries. This is below the average of 44.15%.
Paraguay's international tourism expenditures as a percentage of total imports stand at 2.06%. This ranks Paraguay 95th out of 131 countries, below the average of 3.98%.
Paraguay's ICT goods imports as a percentage of total goods imports is notably high at 16.21%, ranking 9 out of 143 countries. This is significantly above the average of 6.85%.
Paraguay's goods imports in the balance of payments in current US dollars amount to $9,729,158,134.84, ranking 85 out of 171 countries. This is below the average of $92,007,788,027.17.
Paraguay's imports of goods and services in the balance of payments in current US dollars are $10,981,628,448.85, ranking 91 out of 170 countries. This is below the average of $120,321,577,988.12.
Paraguay's imports of goods, services, and primary income in the balance of payments in current US dollars are $12,304,684,980.61, ranking 91 out of 170 countries. This is below the average of $144,514,428,722.28.
Summary
Paraguay's import figures across various categories indicate that the country has lower-than-average levels of imports compared to global benchmarks. This suggests that Paraguay may have a more closed economy or lower demand for foreign goods and services. The high percentage of ICT goods imports relative to total goods imports could indicate a strategic focus on technology or a reliance on imported tech products for development.
Merchandise Imports
Paraguay's merchandise imports amount to $10,217,000,000, ranking 90th out of 190 countries. This is significantly below the average of $89,385,605,263.16.
Manufactures imports account for 76.47% of Paraguay's merchandise imports, ranking 26th out of 152 countries. This figure is above the average of 66.76%.
Agricultural raw materials imports represent only 0.97% of Paraguay's merchandise imports, placing Paraguay 92nd out of 152 countries, below the average of 1.27%.
Food imports constitute 8.86% of Paraguay's merchandise imports, ranking 127th out of 152 countries. This percentage is below the average of 15.89%.
Fuel imports make up 12.37% of Paraguay's merchandise imports, positioning Paraguay 61st out of 152 countries. This proportion is slightly above the average of 11.38%.
Ores and metals imports represent 1.31% of Paraguay's merchandise imports, ranking 89th out of 152 countries. This is below the average of 2.57%.
Paraguay's residual merchandise imports by the reporting economy are only 0.0004% of total merchandise imports, placing Paraguay 174th out of 180 countries. This is significantly below the average of 2.51%.
Summary
Paraguay has a relatively low total merchandise import value compared to the global average. However, it relies heavily on manufactured imports, surpassing the average percentage. Conversely, the country has minimal imports of agricultural raw materials and ores, which are essential for certain industries. Understanding these import dynamics is crucial for assessing Paraguay's trade dependencies, industrial development, and potential vulnerabilities in the global market.
Service Imports
Paraguay's service imports amount to $1,252,470,314.01, ranking 116 out of 171 countries. This value is significantly below the attribute average of $27,615,356,170.47.
Communications, computer, etc. account for 30.37% of Paraguay's service imports, placing it at rank 129 out of 169 countries. This percentage is lower than the attribute average of 44.40%.
Transport services represent 43.30% of Paraguay's service imports, ranking it 39 out of 169 countries. Paraguay exceeds the attribute average of 32.90% in this category.
Travel services make up 16.91% of Paraguay's service imports, positioning it at rank 48 out of 169 countries. This percentage is higher than the attribute average of 14.14%.
Insurance and financial services constitute 9.42% of Paraguay's service imports, placing it at rank 56 out of 169 countries. Paraguay's value is slightly above the attribute average of 8.53%.
Summary
Paraguay's service imports are below the global average, with a notable focus on transport services. While the country's reliance on communications and computer services is lower than average, its emphasis on travel services is higher than the global norm. The composition of service imports reflects Paraguay's priorities and areas of economic activity, highlighting opportunities for growth and potential areas for improvement in the services sector.
Commercial Service Imports
Paraguay's Commercial service imports amount to $1,214,724,357.60, ranking 113 out of 171 countries. This value is significantly below the attribute average of $27,102,746,128.60.
The percentage of Computer, communications, and other services in Paraguay's commercial service imports is 28.20%, ranking 120 out of 169 countries. This percentage is below the attribute average of 41.71%.
Paraguay's Insurance and financial services represent 9.71% of its commercial service imports, ranking 56 out of 169 countries. This value is higher than the attribute average of 8.85%.
Transport services account for 44.65% of Paraguay's commercial service imports, placing it at rank 44 out of 169 countries. This percentage exceeds the attribute average of 34.71%.
Travel services make up 17.43% of Paraguay's commercial service imports, ranking 51 out of 169 countries. This value is higher than the attribute average of 14.73%.
Summary
Paraguay's commercial service imports are significantly below the global average, with a notable focus on transport services at 44.65% and insurance and financial services at 9.71%. The country lags behind in the percentage of computer, communications, and other services, showcasing a potential area for growth and diversification in its import portfolio.
These findings are crucial as they highlight Paraguay's specialization in transport and financial services while indicating a potential need for development in the tech-related service sector. Diversifying the import composition can enhance economic resilience, reduce dependency on specific sectors, and foster overall economic growth and stability.
Infrastructure
Paraguay's air freight transport of 0.478 million ton-km is significantly below the attribute average of 1384.365 million ton-km, ranking 111 out of 126 countries in the dataset.
Paraguay's 1747 registered carrier departures worldwide are well below the attribute average of 134365.605, placing the country at rank 126 out of 149 countries in the dataset.
Paraguay's transport of 131,713 passengers is notably lower than the attribute average of 11,848,242 passengers, ranking 119 out of 149 countries.
Paraguay's container port traffic of 37,901.25 TEUs is significantly lower than the attribute average of 6,907,110.268 TEUs, placing the country at rank 108 out of 110 countries included in the dataset.
Summary
Paraguay's performance in key macroeconomic indicators related to transportation such as air freight transport, registered carrier departures, passenger transport, and container port traffic is notably below the global averages. These low rankings indicate significant weaknesses in Paraguay's transportation infrastructure, which could hinder the country's ability to efficiently move goods and people, impacting trade, tourism, and overall economic development.
Information Technology Infrastructure
Paraguay has 3391 secure internet servers, which is significantly below the average of 458294. Paraguay ranks 87 out of 193 countries in this attribute.
With 512.34 secure internet servers per 1 million people, Paraguay is well below the average of 14067.17. The country ranks 91 out of 193 in this aspect.
73.96% of individuals in Paraguay use the internet, surpassing the average of 64.77%. Paraguay ranks 86 out of 180 countries in this category.
Paraguay has 562369 fixed broadband subscriptions, below the average of 6591956.35. The country ranks 86 out of 185 countries in this metric.
With 7,865,050 mobile cellular subscriptions, Paraguay falls short of the average of 42,526,463.87. The country ranks 98 out of 193 nations in this area.
Summary
Paraguay lags behind global averages in terms of secure internet servers, secure internet servers per million people, fixed broadband subscriptions, and mobile cellular subscriptions. However, the country outperforms the global average in terms of internet usage among individuals. These statistics are crucial as they highlight areas where Paraguay may need to focus on improving its digital infrastructure to remain competitive and connected in an increasingly digital world.
Energy Consumption
Paraguay's renewable energy consumption accounts for 61.44% of its total final energy consumption, which is significantly above the global average of 32.18%. This places Paraguay at rank 37 out of 191 countries in this category.
Paraguay's CO2 emissions amount to 7575.7 kt, notably below the average of 171895.94 kt. This places Paraguay at rank 113 out of 188 countries in CO2 emissions.
Summary
Paraguay stands out for its high renewable energy consumption, exceeding the global average by a significant margin and ranking relatively high among countries globally. Additionally, its CO2 emissions are notably below the global average, placing Paraguay at a lower ranking in comparison to other countries. These statistics are crucial as they showcase Paraguay's commitment to sustainable energy practices and environmental conservation, which can contribute to its environmental reputation, attract investment, and potentially lead to long-term economic and environmental benefits.
Government Balance Sheet
Paraguay's net acquisition of financial assets as a percentage of GDP is 2.89%, slightly above the average of 2.45%. This places Paraguay at rank 31 out of 87 countries.
The net incurrence of liabilities as a percentage of GDP for Paraguay is 9.21%, higher than the average of 7.43%. Paraguay ranks 28 out of 92 countries in this regard.
Paraguay's total reserves as a percentage of total external debt stand at 44.40%, below the average of 66.13%. This positions Paraguay at rank 43 out of 102 countries.
For reserves and related items in current US dollars, Paraguay has $1,805,397,494.33, which is below the average of $1,924,407,186.58. Paraguay ranks 30 out of 171 countries.
Paraguay's total reserves minus gold in current US dollars amount to $8,704,248,621.81, significantly below the average of $74,221,588,171.61. This places Paraguay at rank 70 out of 161 countries.
With total reserves including gold in current US dollars standing at $9,202,411,639.31, Paraguay is below the average of $85,708,019,773.47. Paraguay ranks 74 out of 161 countries in this aspect.
Paraguay's total reserves in months of imports is 8.97, which is above the average of 7.10. Paraguay ranks 37 out of 151 countries based on this measure.
Summary
Paraguay generally performs below average in key macroeconomic indicators related to financial assets, liabilities, reserves, and imports when compared to a global dataset. While the country ranks above average in some aspects such as net acquisition of financial assets, it falls behind in metrics like total reserves and liabilities. These statistics are crucial as they reflect Paraguay's economic stability, ability to manage external debt, and financial strength in the global market.
Government Revenue
Paraguay's Revenue, excluding grants (% of GDP) stands at 16.73%, below the average of 27.02%. This places Paraguay at rank 97 out of 122 countries.
Grants and other revenue (% of revenue) for Paraguay is 19.85%, lower than the average of 23.54%. Paraguay ranks 41 out of 108 countries.
Paraguay's Social contributions (% of revenue) make up 22.70% of its revenue, slightly above the average of 22.29%. Paraguay is ranked 41 out of 81 countries.
Taxes on goods and services (% of revenue) in Paraguay constitute 36.66% of its revenue, higher than the average of 31.82%. Paraguay holds position 45 out of 122 countries.
Paraguay's Taxes on international trade (% of revenue) are 5.03%, lower than the average of 6.24%. This places Paraguay at rank 39 out of 101 countries.
Other taxes (% of revenue) account for 0.73% in Paraguay, significantly below the average of 2.12%. Paraguay ranks 62 out of 106 countries for this attribute.
Taxes on income, profits and capital gains (% of revenue) in Paraguay stand at 15.03%, notably below the average of 24.66%. Paraguay holds rank 94 out of 119 countries.
Summary
Paraguay's fiscal revenue composition shows that it relies heavily on taxes on goods and services, constituting 36.66% of its revenue, higher than the global average. However, revenue excluding grants is below the average, indicating potential challenges in generating income independently. This mix of revenue sources is important as it reflects Paraguay's fiscal health, economic resilience, and ability to fund its operations and develop infrastructure sustainably.
Taxes
Paraguay's tax revenue as a percentage of GDP is 9.51%, which is below the average of 16.72%. The country is ranked 107 out of 123 countries in this attribute.
Paraguay's customs and other import duties as a percentage of tax revenue is 8.76%, slightly below the average of 9.01%. The country ranks 34 out of 99 countries.
For taxes on income, profits, and capital gains as a percentage of total taxes, Paraguay's value is 26.15%, which is below the average of 38.40%. In this aspect, the country is ranked 100 out of 120 countries.
Paraguay's weighted mean tariff rate applied to all products is 4.05%, lower than the average of 5.21%. The country holds the 72nd rank out of 153 countries in this category.
Summary
Paraguay exhibits lower than average figures in key macroeconomic indicators such as tax revenue as a percentage of GDP, customs and import duties as a percentage of tax revenue, taxes on income, profits, and capital gains as a percentage of total taxes, and weighted mean tariff rate. These indicators reflect a comparatively lighter tax burden and trade policies in Paraguay compared to the global averages. Such findings are crucial as they highlight Paraguay's potential competitiveness in attracting investments and promoting trade due to its relatively lower taxation levels and tariffs.
Government Expenses
Paraguay's Expense (% of GDP) is 18.47%, below the average of 31.69%. The country ranks 102 out of 123 countries in this attribute data.
Paraguay's Compensation of employees (% of expense) stands at 47.90%, significantly above the average of 24.70%. The country is ranked 8 out of 123 countries in this aspect.
Goods and services expense (% of expense) in Paraguay is 12.13%, below the average of 14.77%. The country ranks 61 out of 122 countries for this attribute.
Paraguay's Interest payments (% of expense) constitute 5.77%, below the average of 6.85%. The country holds the 55th rank out of 121 countries in this category.
Other expense (% of expense) in Paraguay is 4.70%, below the average of 8.29%. The country ranks 77 out of 120 countries in this particular attribute.
Paraguay's Subsidies and other transfers (% of expense) stand at 29.51%, which is below the average of 43.29%. The country ranks 86 out of 121 countries in this aspect.
Summary
Paraguay demonstrates a prudent fiscal management with its Expense (% of GDP) below the global average. The country excels in Compensation of employees (% of expense) and Interest payments (% of expense), indicating a strong focus on employee welfare and efficient debt management. However, its allocation towards Goods and services expense (% of expense) could be optimized to align better with the average. These statistics are crucial as they reflect Paraguay's financial priorities and can guide policymakers in making informed decisions to enhance the country's economic stability and growth.
Top Stats
Ranks in Top Decile For:
| Attribute | Rank/Total |
|---|---|
| Food exports (% of merchandise exports) | 13/152 |
| ICT goods imports (% total goods imports) | 9/143 |
| Compensation of employees (% of expense) | 8/123 |
Ranks in Bottom Decile For:
| Attribute | Rank/Total |
|---|---|
| Researchers in R&D (per million people) | 67/72 |
| International tourism, receipts (% of total exports) | 110/120 |
| ICT service exports (% of service exports, BoP) | 156/166 |
| Merchandise imports by the reporting economy, residual (% of total merchandise imports) | 174/180 |
| Container port traffic (TEU: 20 foot equivalent units) | 108/110 |