The growth track lies ahead
B2
MEDIUM RISK for enterprise
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
Updated in November 2022.
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GDP | USD38.99bn (World ranking 95, World Bank 2021) |
Population | 7.22mn (World ranking 104, World Bank 2021) |
Form of state | Constitutional Republic |
Head of government | Mario Abdo Benítez (President) |
Next elections | 2023, presidential and legislative |

- A contained fiscal budget and public debt
- Low current account deficit
- Ample foreign exchange reserves
- The government pursues business-friendly policies

- The economy is highly dependent on the agricultural sector and weather conditions
- One of the poorest countries in Latin America with high inequality and sub-standard infrastructure
- Wide informal economy
- Low diversification of the economy
- High level of corruption, criminality and poor rule of law
Trade structure by destination/origin
(% of total, annual 2021)
Exports | Rank | Imports |
---|---|---|
Brazil
33.8%
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1 |
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Argentina
25.8%
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2 |
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Chile
9.6%
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3 |
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Russian Federation
7.3%
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4 |
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United States
1.9%
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5 |
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Trade structure by product
(% of total, annual 2021)
Exports | Rank | Imports |
---|---|---|
Oil seeds and oleaginous fruits
30.8%
|
1 |
12.6%
Petroleum, petroleum products and related materials
|
Meat and meat preparations
15.5%
|
2 |
10.5%
Telecommunication and sound recording apparatus
|
Electric current
15.1%
|
3 |
7.9%
Road vehicles
|
Cereals and cereal preparations
7.9%
|
4 |
5.7%
Electrical machinery, apparatus and appliances, n.e.s.
|
Feedstuff for animals (excluding unmilled cereals)
7.8%
|
5 |
4.4%
Fertilizers other than group 272
|
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