Latin American Economy & Business - October 2015 (ISSN 1741-7430)

Along with Bolivia, Paraguay is also set to be one of South America’s more dynamic economies in 2015 and 2016, with predicted growth rates of 3.3% and 3.6%, according to Eclac. In part this is because, as a largely agricultural economy at a fairly early stage of development, high growth rates are relatively normal. In the 10 years to 2013 Paraguayan GDP growth averaged 4.9%. As an oil importer, Paraguay is also benefiting from an improvement in its terms of trade.