Paraguay - Country Code 595
IDD Code: 002
Country Code: 595
ISO: PY
ISO3: PRY
Helpful Information About Paraguay
Time
Thursday, November 21, 2024
Capital: Asunción
Time Zone
UTC-04:00
Time Difference
Asunción, Paraguay is ()
Daylight Savings Time
Paraguay does not follow DST
Weather
Country Map
Country Flag
City Calling Codes
| City | Calling Code |
|---|---|
| Asuncion | +595-21 |
| Capiata | +595-28 |
| Ciudad del Este | +595-61 |
| Friesland | +595-318 |
| Luque | +595-21 |
| San Alberto | +595-677 |
About Paraguay Country NameParaguay
ContinentSouth America
Lat/Long-23.44250000, -58.44383200
BackgroundParaguay achieved its independence from Spain in 1811. In the disastrous War of the Triple Alliance (1865-70) - between Paraguay and Argentina, Brazil, and Uruguay - Paraguay lost two-thirds of its adult males and much of its territory. The country stagnated economically for the next half century. Following the Chaco War of 1932-35 with Bolivia, Paraguay gained a large part of the Chaco lowland region. The 35-year military dictatorship of Alfredo STROESSNER ended in 1989, and, despite a marked increase in political infighting in recent years, Paraguay has held relatively free and regular presidential elections since the country's return to democracy.
Population6,862,812 (July 2016 est.)
LanguagesSpanish (official), Guarani (official)
ReligionsRoman Catholic 89.6%, Protestant 6.2%, other Christian 1.1%, other or unspecified 1.9%, none 1.1% (2002 census)
Ethnic GroupsMestizo (mixed Spanish and Amerindian) 95%, other 5%
Economy
EconomyLandlocked Paraguay has a market economy distinguished by a large informal sector, featuring re-export of imported consumer goods to neighboring countries, as well as the activities of thousands of microenterprises and urban street vendors. A large percentage of the population, especially in rural areas, derives its living from agricultural activity, often on a subsistence basis. Because of the importance of the informal sector, accurate economic measures are difficult to obtain.
On a per capita basis, real income has grown steadily over the past decade. The economy grew rapidly between 2003 and 2008 as strong world demand for commodities, combined with high prices and favorable weather, supported Paraguay's commodity-based export expansion. Paraguay is the sixth largest soy producer in the world. Drought hit in 2008, reducing agricultural exports and slowing the economy even before the onset of the global recession. The economy fell 3.8% in 2009, as lower world demand and commodity prices caused exports to contract. Severe drought and outbreaks of foot-and-mouth disease in 2012 led to a brief drop in beef and other agricultural exports. Since 2014, however, Paraguay’s economy has grown at a 4% average annual rate due to strong production and high global prices, at a time when other countries in the region have contracted.
The Paraguayan Government recognizes the need to diversify its economy and has taken steps in recent years to do so. In addition to looking for new commodity markets in the Middle East and Europe, Paraguayan officials have promoted the country’s low labor costs, cheap energy from its massive Itaipu hydroelectric dam, and single-digit tax rate on foreign firms. As a result, the number of factories operating in the country – mostly transplants from Brazil - has tripled since 2014.
Political uncertainty, corruption, limited progress on structural reform, and deficient infrastructure are the main obstacles to long-term growth. Paraguay has been adverse to public debt throughout its history, but has recently changed its anti-debt policies to finance infrastructure improvements to attract foreign investment. Judicial corruption is endemic and is seen as the greatest barrier to attracting more foreign investment.
On a per capita basis, real income has grown steadily over the past decade. The economy grew rapidly between 2003 and 2008 as strong world demand for commodities, combined with high prices and favorable weather, supported Paraguay's commodity-based export expansion. Paraguay is the sixth largest soy producer in the world. Drought hit in 2008, reducing agricultural exports and slowing the economy even before the onset of the global recession. The economy fell 3.8% in 2009, as lower world demand and commodity prices caused exports to contract. Severe drought and outbreaks of foot-and-mouth disease in 2012 led to a brief drop in beef and other agricultural exports. Since 2014, however, Paraguay’s economy has grown at a 4% average annual rate due to strong production and high global prices, at a time when other countries in the region have contracted.
The Paraguayan Government recognizes the need to diversify its economy and has taken steps in recent years to do so. In addition to looking for new commodity markets in the Middle East and Europe, Paraguayan officials have promoted the country’s low labor costs, cheap energy from its massive Itaipu hydroelectric dam, and single-digit tax rate on foreign firms. As a result, the number of factories operating in the country – mostly transplants from Brazil - has tripled since 2014.
Political uncertainty, corruption, limited progress on structural reform, and deficient infrastructure are the main obstacles to long-term growth. Paraguay has been adverse to public debt throughout its history, but has recently changed its anti-debt policies to finance infrastructure improvements to attract foreign investment. Judicial corruption is endemic and is seen as the greatest barrier to attracting more foreign investment.
GDP$32.19 billion (2016 est.)
CurrencyGuarani
Communications
Internet TLD.py
Internet Users3.011 million
Land Lines384,135
Mobile Phones7.412 million
Broadcast Media6 privately owned TV stations; about 75 commercial and community radio stations; 1 state-owned radio network (2010)