The growth track lies ahead

B2

MEDIUM RISK for enterprise

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • 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%
1
30.0% China
Argentina 25.8%
2
23.7% Brazil
Chile 9.6%
3
9.5% Argentina
Russian Federation 7.3%
4
7.1% United States
United States 1.9%
5
3.3% India

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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