Paraguay GDP Annual Growth Rate

Last Release

Dec 31, 2022

Actual

1.7

Units In

2.8

Frequency

Quarterly

Next Release

Sep 26, 2025

Time to Release

2 Months 29 Days 22 Hours

Highest	Lowest	Average	Date Range	Source
13.94 Jun 2021	-7.43 Jun 2020	2.96 %	1995-2022	Banco Central del Paraguay

In the last decade, Paraguay has been one of the fastest growing economies in Latin America mostly due to a rise in exports of agricultural commodities. Shipments of soy, cereals and meat account for more than 65 percent of total exports and for almost a quarter of the GDP. The biggest sector of Paraguay´s economy is services. Financing, real estate and business services; trade, communication and restaurant and hotels, household and government services account for 39 percent of the GDP. Industry and mining create 25 percent of the wealth and agriculture, forestry, fishing and cattle 21 percent. Construction and water and gas distribution accounts for the remaining 15 percent of GDP.

Latest Updates

Paraguay's GDP expanded 5.9% year-over-year in Q1 2025, up from 3.6% in the previous quarter. Growth was driven by strong performance in services (6% vs 4.8% in Q4), a rebound in utilities (8.3% vs -7.9%), continued expansion in construction (12.9% vs 13.6%), and manufacturing (6.6% vs 3.1%). Output in livestock, forestry, fishing, and mining surged 10.8% (vs 2.7%). Agriculture remained a drag, though its contraction eased (-3.4% vs -4.3%). From the expenditure side, domestic demand rose 9.3%, slightly below the 10.5% growth in Q4 2024.