Tag Archives: Paraguay

According to allcountrylist, Paraguay is a small economy with a GDP of around USD28.3 billion. The country’s economy is mainly driven by the services sector, which accounts for around 51% of the country’s GDP. This sector includes banking and finance, shipping, tourism and other related activities. The manufacturing sector is also an important contributor to the economy, accounting for around 18%. This sector includes food processing and light manufacturing such as furniture and clothing. Agriculture is another important economic activity in Paraguay and it contributes around 17% to total GDP. This sector produces crops such as soybeans, corn, wheat and sugarcane as well as livestock products such as beef and dairy products. Fishing is also an important source of income for many people in Paraguay as it provides seafood products to both local and international markets. The mining sector has seen some growth in recent years due to increased investment from foreign sources. This industry is mainly focused on extracting minerals such as iron ore, tin, lead and gold from the country’s rich deposits. In addition to these sectors, Paraguay has also been making efforts towards diversifying its economy through the development of special economic zones (SEZ) which are designed to attract foreign investment into the country. These zones offer attractive incentives such as tax exemptions and preferential access to capital markets for businesses operating within them. This has helped attract investments from both domestic and international sources which have led to further economic growth in Paraguay. The history of agriculture in Paraguay dates back to the early colonial period, when Spanish settlers began cultivating crops such as maize and wheat. As the population grew, so did the diversity of crops, with cotton, tobacco and sugarcane being introduced in the late 17th century. The 19th century saw a dramatic increase in agricultural production as new technologies were introduced and more land was opened up for cultivation. Today, Paraguay is one of the leading agricultural producers in South America and is home to some of the most productive farms on the continent. Agriculture accounts for around 15% of Paraguay’s GDP and employs nearly half of its population. Soybeans are by far the most important crop grown in Paraguay, with over 4 million hectares dedicated to its production each year. Other important crops include corn, wheat, cotton and sugarcane. In recent years, forestry has become an increasingly important part of Paraguay’s agricultural industry with plantations producing large amounts of timber for export. The livestock sector is also significant and contributes significantly to both national income and employment levels. In order to increase productivity levels in this sector, farmers have been provided with access to improved genetics as well as training on modern farming methods. See smber for Paraguay Agriculture and Fishing.