International organization participation: AG (observer), CCC,
ECLAC, FAO, G-77, IADB, IAEA, IBRD, ICAO, ICFTU, ICRM, IDA, IFAD,
IFC, IFRCS, ILO, IMF, IMO, Intelsat, Interpol, IOC, IOM, ITU, LAES,
LAIA, Mercosur, OAS, OPANAL, PCA, RG, UN, UNCTAD, UNESCO, UNIDO,
UPU, WCL, WHO, WIPO, WMO, WToO, WTrO
Diplomatic representation in US:
chief of mission: Ambassador Jorge PRIETO CONTI
chancery: 2400 Massachusetts Avenue NW, Washington, DC 20008
telephone: [1] (202) 483-6960 through 6962
FAX: [1] (202) 234-4508
consulate(s) general: Miami and New York
US diplomatic representation:
chief of mission: Ambassador Robert E. SERVICE
embassy: 1776 Avenida Mariscal Lopez, Casilla Postal 402, Asuncion
mailing address: Unit 4711, APO AA 34036-0001
telephone: [595] (21) 213-715
FAX: [595] (21) 213-728
Flag: three equal, horizontal bands of red (top), white, and blue with an emblem centered in the white band; unusual flag in that the emblem is different on each side; the obverse (hoist side at the left) bears the national coat of arms (a yellow five-pointed star within a green wreath capped by the words REPUBLICA DEL PARAGUAY, all within two circles); the reverse (hoist side at the right) bears the seal of the treasury (a yellow lion below a red Cap of Liberty and the words Paz y Justicia (Peace and Justice) capped by the words REPUBLICA DEL PARAGUAY, all within two circles)
Economy ———-
Economic overview: Paraguay has a market economy marked by a large informal sector. The formal economy is largely oriented toward services, but 45% of the population derive their living from agricultural activity, often on a subsistence basis. The economy has grown an average of 3% to 4% over the past five years. Population has increased at 3% a year over the same period leaving per capita income nearly stagnant. The informal sector is marked by both reexport of imported consumer goods (electronics, whiskeys, perfumes, cigarettes and office equipment) to neighboring countries as well as by the activities of thousands of microenterprises and urban street vendors. The Paraguayan Government has stated publicly that it will continue its economic reform agenda in close coordination with its Mercosur (Southern Cone Common Market) partners. In 1995, the government also promised to undertake efforts to formalize the financial sector, after a financial shock forced the bail-out of the second and third largest banks. Paraguay's continued integration into Mercosur also offers potential for growth; it is closely linked with the success of foreign investment promotion. Non-traditional exports, such as finished agricultural products, light manufactures, and small consumer items, are growing rapidly. Government reform efforts, including privatization, have continued, but with little success in 1995.
GDP: purchasing power parity - $17 billion (1995 est.)
GDP real growth rate: 4.2% (1995 est.)
GDP per capita: $3,200 (1995 est.)
GDP composition by sector: agriculture: 25.7% industry: 25.8% services: 48.5% (1994)