Paraguay's GDP changed from approximately $4B 94M in 1980 to $45B 817M in 2024, showing an overall 1018.9% sharply increased during the period.
The lowest GDP was recorded in 1989 at $4B 46M, and the highest in 2024 at $45B 817M.
Over the 44-year span, the GDP showed a overall increase with some decline trend, with an average annual growth rate of 5.6%.
For comparison, the average annual growth rate of Bolivia was 6.1%, and that of Argentina was 2.2%.
Paraguay GDP from 1980 to 2024
The total market value of goods and services produced annually in Paraguay.
Overview of Paraguay's GDP (1980–2024)
The Gross Domestic Product (GDP) of Paraguay recorded a 1018.9% sharply increased from 1980 to 2024.
The average GDP during this period was $18B 455M, and the median was $9B 624M.
GDP fluctuated within a range of $41B 771M, with a standard deviation of $14B 774M.
The average annual change was $1B 31M.
Highest and Lowest GDP Records
- Lowest GDP: 1989, $4B 46M
- Highest GDP: 2024, $45B 817M
- Most Recent GDP: 2024, $45B 817M
Notable Annual GDP Changes
- 2008: Significant increase in GDP
- 2015: Noticeable drop in GDP
Overall pattern: overall increase with some decline
Global Economic Events and Paraguay's GDP
COVID-19 Pandemic (2020)
- Period: From 2019 to 2020
- GDP Change: $37B 925M → $35B 432M
- Outcome: declined
2008 Global Financial Crisis
- Period: From 2007 to 2009
- GDP Change: $17B 856M → $22B 355M
- Outcome: sharply increased
2001 Dot-com Bubble Burst
- Period: From 2000 to 2001
- GDP Change: $8B 856M → $8B 496M
- Outcome: declined
1998 Asian Financial Crisis
- Period: From 1997 to 1998
- GDP Change: $9B 965M → $9B 260M
- Outcome: declined
Key Economic Indicators of Paraguay (1980–2024)
| year | GDP Growth | Nominal GDP | PPP GDP | GDP per Capita | PPP per Capita | Savings | Population | Current Account | Fiscal Balance |
|---|---|---|---|---|---|---|---|---|---|
1980 | 11.712 % | $ 4B 94M | $ 11B 131M | $ 1,299.66 | $ 3,533.01 | 22.02 % | 3M 151K people | -6.765 % | 4.412 % |
1981 | 9.17 % | $ 5B 220M | $ 13B 302M | $ 1,608.46 | $ 4,099.16 | 21.68 % | 3M 245K people | -7.156 % | 1.236 % |
1982 | -1.398 % | $ 5B 470M | $ 13B 926M | $ 1,636.53 | $ 4,166.84 | 18.77 % | 3M 342K people | -6.852 % | 2.639 % |
1983 | -3.043 % | $ 6B 69M | $ 14B 32M | $ 1,762.99 | $ 4,076.19 | 17.36 % | 3M 442K people | -4.085 % | 1.369 % |
1984 | 2.817 % | $ 4B 931M | $ 14B 947M | $ 1,390.89 | $ 4,216 | 16.50 % | 3M 545K people | -6.436 % | 0.809 % |
1985 | 3.872 % | $ 4B 214M | $ 16B 17M | $ 1,154.14 | $ 4,386.35 | 16.01 % | 3M 652K people | -5.972 % | 2.019 % |
1986 | 0.263 % | $ 5B 32M | $ 16B 383M | $ 1,335.76 | $ 4,348.45 | 17.77 % | 3M 767K people | -7.251 % | 4.169 % |
1987 | 4.072 % | $ 4B 216M | $ 17B 472M | $ 1,084.69 | $ 4,495.06 | 13.44 % | 3M 887K people | -11.617 % | 4.111 % |
1988 | 5.881 % | $ 5B 584M | $ 19B 152M | $ 1,392.42 | $ 4,775.73 | 20.60 % | 4M 10K people | -3.764 % | 4.332 % |
1989 | 5.817 % | $ 4B 46M | $ 21B 61M | $ 977.84 | $ 5,090.20 | 30.54 % | 4M 138K people | 6.318 % | 8.003 % |
1990 | 4.12 % | $ 4B 904M | $ 22B 749M | $ 1,185.28 | $ 5,498.26 | 30.62 % | 4M 138K people | 7.954 % | 9.791 % |
1991 | 3.49 % | $ 6B 984M | $ 24B 340M | $ 1,585.24 | $ 5,524.29 | 21.54 % | 4M 406K people | 1.218 % | 4.279 % |
1992 | 1.696 % | $ 7B 158M | $ 25B 317M | $ 1,592.06 | $ 5,631.12 | 18.86 % | 4M 496K people | -0.801 % | 3.833 % |
1993 | 4.936 % | $ 7B 249M | $ 27B 196M | $ 1,580.21 | $ 5,928.16 | 21.83 % | 4M 588K people | 0.815 % | 5.145 % |
1994 | 5.318 % | $ 7B 871M | $ 29B 254M | $ 1,681.40 | $ 6,249.20 | 22.37 % | 4M 681K people | -3.482 % | 5.715 % |
1995 | 6.823 % | $ 9B 62M | $ 31B 905M | $ 1,897.13 | $ 6,679.21 | 19.62 % | 4M 777K people | -2.399 % | 4.174 % |
1996 | 1.574 % | $ 9B 788M | $ 33B | $ 2,008.19 | $ 6,770.37 | 21.42 % | 4M 874K people | -0.707 % | 3.579 % |
1997 | 4.243 % | $ 9B 965M | $ 34B 994M | $ 2,003.58 | $ 7,035.72 | 17.41 % | 4M 974K people | -5.506 % | 4.041 % |
1998 | 0.068 % | $ 9B 260M | $ 35B 411M | $ 1,824.65 | $ 6,977.25 | 21.54 % | 5M 75K people | 1.425 % | 5.454 % |
1999 | -1.366 % | $ 8B 837M | $ 35B 422M | $ 1,706.39 | $ 6,839.73 | 20.54 % | 5M 179K people | 1.57 % | 3.83 % |