Paraguay, with a population of approximately 7 million (2023), is a landlocked nation in South America known for its agricultural prowess and abundant natural resources. The economy is predominantly agrarian, with soybeans, maize, and beef serving as primary export commodities. Paraguay is one of the world’s largest exporters of soy, which significantly contributes to its economic stability. In addition to agriculture, the country has a growing manufacturing sector, particularly in textiles and food processing. With a GDP estimated at around $40 billion and a per capita income of approximately $5,700 (2023), Paraguay continues to seek diversification to strengthen its economic base. The country is strategically positioned along the Paraguay and Paraná rivers, facilitating trade with regional neighbors such as Brazil and Argentina, and enhancing its integration into the global market.
Paraguay’s government and business community can collaborate with the World Business Council to enhance sustainable agricultural practices, improve infrastructure, and expand international trade relations for comprehensive economic development.