Economic Growth in Paraguay
The economy of Paraguay recorded an average real GDP growth rate of 3.2% in the decade to 2022, above the 1.3% average for Latin America. In 2022, real GDP growth was 0.1%. For more GDP information, visit our dedicated page.
Paraguay GDP Chart
Note: This chart displays Economic Growth (GDP, annual variation in %) for Paraguay from 2021 to 2020.
Source: Macrobond.
Paraguay GDP Data
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Economic Growth (GDP, ann. var. %) | -0.4 | -0.8 | 4.0 | 0.2 | 4.7 |
| GDP (USD bn) | 37.9 | 35.3 | 39.8 | 41.8 | 42.9 |
| GDP (PYG bn) | 236,681 | 239,915 | 270,634 | 292,947 | 313,095 |
| Economic Growth (Nominal GDP, ann. var. %) | 2.6 | 1.4 | 12.8 | 8.2 | 6.9 |
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Paraguayan GDP projections for the next ten years from a panel of 11 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable GDP forecast available for Paraguayan GDP.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Paraguayan GDP projections.
Want to get access to the full dataset of Paraguayan GDP forecasts? Send an email to info@focus-economics.com.