Paraguay's economy contracted 2.0 percent year-on-year in the first quarter of 2022, following a downwardly revised 0.2 percent expansion in the fourth quarter of last year. The nations' agricultural output continued to slump at a dramatic pace (-41.2 percent vs -40.0 percent in Q4 2021), followed by a contraction in electricity and water supply (-11.1 percent vs -2.5 percent), as well as in mining, fisheries, forestry and animal farming (-8.7 percent vs -7.3 percent). The economic contraction was hampered by stronger output growth in manufacturing (4.3 percent vs 1.8 percent) and construction activities (10.5 percent vs 2.2 percent). source: Banco Central del Paraguay

GDP Annual Growth Rate in Paraguay averaged 3.03 percent from 1995 until 2022, reaching an all time high of 13.94 percent in the second quarter of 2021 and a record low of -7.43 percent in the second quarter of 2020. This page provides - Paraguay GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Paraguay GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on August of 2022.

GDP Annual Growth Rate in Paraguay is expected to be 1.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Paraguay GDP Annual Growth Rate is projected to trend around 4.00 percent in 2023, according to our econometric models.

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Paraguay GDP Annual Growth Rate

Calendar GMT Actual Previous Consensus TEForecast
2022-03-29 05:00 PM Q4 0.6% 2.9% 3%
2022-06-30 05:30 PM Q1 -2.0% 0.2% 2%
2022-09-23 08:20 PM Q2 -2.0%

Related Last Previous Unit Reference
GDP Growth Rate -1.82 9.04 percent Mar 2022
GDP Annual Growth Rate -2.00 0.20 percent Mar 2022
Gross Fixed Capital Formation 16723651.00 16620710.00 Million PYG Mar 2022
GDP From Utilities 3567030725.00 3591871286.00 PYG Thousand Mar 2022
GDP From Services 26528870575.00 28448901523.00 PYG Thousand Mar 2022
GDP From Manufacturing 11001553369.00 11006098362.00 PYG Thousand Mar 2022
GDP From Construction 4297968642.00 4118347955.00 PYG Thousand Mar 2022
GDP From Agriculture 3477782806.00 2346051801.00 PYG Thousand Mar 2022
GDP Constant Prices 54488545877.00 55497296143.00 PYG Thousand Mar 2022

Paraguay GDP Annual Growth Rate
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.
Actual Previous Highest Lowest Dates Unit Frequency
-2.00 0.20 13.94 -7.43 1995 - 2022 percent Quarterly