Paraguay

Paraguay is a landlocked, lower-middle-income South American economy based on agriculture and hydropower, one of the world's largest exporters of soybeans and beef and a major producer of electricity.

Abundant farmland and the giant Itaipu and Yacyreta dams give Paraguay an agricultural and energy base, though it has high informality, poverty, and inequality.

Key Sectors

The economy rests on agriculture (a top global soybean and beef exporter), hydropower (Paraguay is one of the world's largest electricity exporters), and a large informal re-export trade.