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.
Data Source: International Monetary Fund
Image Source: Freepik from www.flaticon.com
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 | Nominal GDP | GDP per Capita | PPP per Capita | PPP GDP | GDP Growth | Current Account | Savings | Fiscal Balance | Population |
|---|---|---|---|---|---|---|---|---|---|
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 |
