South America / GoM

Paraguay flag
Summary | Profile

Country profile: Paraguay

Location: Central South America, northeast of Argentina
Climate: subtropical to temperate; substantial rainfall in the eastern portions, becoming semiarid in the far west
Terrain: grassy plains and wooded hills east of Rio Paraguay; Gran Chaco region west of Rio Paraguay mostly low, marshy plain near the river, and dry forest and thorny scrub elsewhere
Size: 406750 sq. km total (Land area: 397300 sq. km  Water area: 9450
Population: 6,831,306 (July 2008 est.)
Languages: Spanish (official), Guarani (official)
Government: constitutional republic
Capital city: Asuncion
Legal system: based on Argentine codes, Roman law, and French codes; judicial review of legislative acts in Supreme Court of Justice; accepts compulsory ICJ jurisdiction
Currency: guarani (PYG)

Country profile

Paraguay is a small, South American country and member of MERCOSUR. Its economy depends largely upon agriculture, which represents one-quarter of the country’s economic activity and almost all of its exports. Following stagnant economic growth since the late 1990s, Paraguay has seen its economy rebound in recent years.

The country’s real gross domestic product (GDP) grew by 3.3 percent in 2005, following growth of 2.9 percent in 2004. A combination of economic growth in neighboring Brazil and Argentina and high world prices for its agricultural exports have fueled Paraguay’s economic recovery.

Energy production and consumption

Oil Gas
Consumption: 28,000 bbl/day (2007 est.)  
Imports: 25,940 bbl/day (2007 est.)  
Major fields:

Paraguay - recent news

15 Jun 20
Argentina: President Energy announces drilling and workover plans for Rio Negro
AIM-listed President Energy has announced an update on its Paraguay asset and its drilling plans for Rio Negro in Argentina in the second half of the year.

Paraguay - more news

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