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 a circular seal of the treasury (a yellow lion below a red Cap of Liberty and the words PAZ Y JUSTICIA (Peace and Justice)); red symbolizes bravery and patriotism, white represents integrity and peace, and blue denotes liberty and generosity
note: the three color bands resemble those on the flag of the Netherlands; one of only three national flags that differ on their obverse and reverse sides - the others are Moldova and Saudi Arabia
National anthem:
name: "Paraguayos, Republica o muerte!" (Paraguayans, The Republic or Death!)
lyrics/music: Francisco Esteban ACUNA de Figueroa/disputed
note: adopted 1934, in use since 1846; the anthem was officially adopted following its re-arrangement in 1934
Economy ::Paraguay
Economy - overview:
Landlocked 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 stagnated at 1980 levels. The economy grew rapidly between 2003 and 2008 as growing world demand for commodities combined with high prices and favorable weather to support 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. The government reacted by introducing fiscal and monetary stimulus packages. Growth resumed at a 6.5% level in 2010. Political uncertainty, corruption, limited progress on structural reform, and deficient infrastructure are the main obstacles to growth.
GDP (purchasing power parity):