Paraguay GDP Trends from 1980 to 2024: A overall increase with some decline Flow

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%.

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.


Paraguay GDP from 1980 to 2024

The total market value of goods and services produced annually in Paraguay.

Change Chart

    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)

    yearNominal GDPGDP per CapitaPPP per CapitaPPP GDPGDP GrowthCurrent AccountSavingsFiscal BalancePopulation
    1980
    $ 4B 94M
    $ 1,299.66
    $ 3,533.01
    $ 11B 131M
    11.712 %
    -6.765 %
    22.02 %
    4.412 %
    3M 151K people
    1981
    $ 5B 220M
    $ 1,608.46
    $ 4,099.16
    $ 13B 302M
    9.17 %
    -7.156 %
    21.68 %
    1.236 %
    3M 245K people
    1982
    $ 5B 470M
    $ 1,636.53
    $ 4,166.84
    $ 13B 926M
    -1.398 %
    -6.852 %
    18.77 %
    2.639 %
    3M 342K people
    1983
    $ 6B 69M
    $ 1,762.99
    $ 4,076.19
    $ 14B 32M
    -3.043 %
    -4.085 %
    17.36 %
    1.369 %
    3M 442K people
    1984
    $ 4B 931M
    $ 1,390.89
    $ 4,216
    $ 14B 947M
    2.817 %
    -6.436 %
    16.50 %
    0.809 %
    3M 545K people
    1985
    $ 4B 214M
    $ 1,154.14
    $ 4,386.35
    $ 16B 17M
    3.872 %
    -5.972 %
    16.01 %
    2.019 %
    3M 652K people
    1986
    $ 5B 32M
    $ 1,335.76
    $ 4,348.45
    $ 16B 383M
    0.263 %
    -7.251 %
    17.77 %
    4.169 %
    3M 767K people
    1987
    $ 4B 216M
    $ 1,084.69
    $ 4,495.06
    $ 17B 472M
    4.072 %
    -11.617 %
    13.44 %
    4.111 %
    3M 887K people
    1988
    $ 5B 584M
    $ 1,392.42
    $ 4,775.73
    $ 19B 152M
    5.881 %
    -3.764 %
    20.60 %
    4.332 %
    4M 10K people
    1989
    $ 4B 46M
    $ 977.84
    $ 5,090.20
    $ 21B 61M
    5.817 %
    6.318 %
    30.54 %
    8.003 %
    4M 138K people
    1990
    $ 4B 904M
    $ 1,185.28
    $ 5,498.26
    $ 22B 749M
    4.12 %
    7.954 %
    30.62 %
    9.791 %
    4M 138K people
    1991
    $ 6B 984M
    $ 1,585.24
    $ 5,524.29
    $ 24B 340M
    3.49 %
    1.218 %
    21.54 %
    4.279 %
    4M 406K people
    1992
    $ 7B 158M
    $ 1,592.06
    $ 5,631.12
    $ 25B 317M
    1.696 %
    -0.801 %
    18.86 %
    3.833 %
    4M 496K people
    1993
    $ 7B 249M
    $ 1,580.21
    $ 5,928.16
    $ 27B 196M
    4.936 %
    0.815 %
    21.83 %
    5.145 %
    4M 588K people
    1994
    $ 7B 871M
    $ 1,681.40
    $ 6,249.20
    $ 29B 254M
    5.318 %
    -3.482 %
    22.37 %
    5.715 %
    4M 681K people
    1995
    $ 9B 62M
    $ 1,897.13
    $ 6,679.21
    $ 31B 905M
    6.823 %
    -2.399 %
    19.62 %
    4.174 %
    4M 777K people
    1996
    $ 9B 788M
    $ 2,008.19
    $ 6,770.37
    $ 33B
    1.574 %
    -0.707 %
    21.42 %
    3.579 %
    4M 874K people
    1997
    $ 9B 965M
    $ 2,003.58
    $ 7,035.72
    $ 34B 994M
    4.243 %
    -5.506 %
    17.41 %
    4.041 %
    4M 974K people
    1998
    $ 9B 260M
    $ 1,824.65
    $ 6,977.25
    $ 35B 411M
    0.068 %
    1.425 %
    21.54 %
    5.454 %
    5M 75K people
    1999
    $ 8B 837M
    $ 1,706.39
    $ 6,839.73
    $ 35B 422M
    -1.366 %
    1.57 %
    20.54 %
    3.83 %
    5M 179K people