Officially known as the Republic of Paraguay, it is a landlocked country in South America. Paraguay is bordered by Argentina to the south and southwest, Brazil to the east and northeast, and Bolivia to the northwest. The country lies on both the banks of the Paraguay River, which runs through the center of the country from north to south.
The Republic of Paraguay is a landlocked South American nation. It covers a total area of 157,048 square miles. The estimated population of Paraguay is 6,460,000 (2009), which makes it the 103rd most populated country in the world. The per capita nominal GDP of the country is $4,100. The official languages are Spanish and Guarani. The major religion is Christianity (Roman Catholicism).
The Guarani people have inhabited Paraguay since before the advent of European settlers in the 16th century. At this time, Paraguay formed a part of the Spanish Kingdom. The colony of Asuncion was set up on August 15, 1537, by Juan de Salazar de Espinosa, the famous Spanish voyager. The city gradually became the hub for a Spanish regal district and a major location of the Jesuit undertakings and establishments in South America in the 18th century. Paraguay achieved independence from Spain on May 15, 1811.
Paraguay features a market economy characterized by a huge informal sector, with re-export of imported consumer products to nearby nations and the operations of thousands of city street vendors and micro-enterprises. Manufacturing make a significant contribution to the national economy. The industrial sector represents around 25% of gross domestic product (GDP) of Paraguay and hires approximately 31% of the workforce. Major industries include cement, sugar, beverages, textiles, steel, wood products, and electric power. Paraguay exports feed, soybeans, meat, cotton, electricity, edible oils, leather, and wood. It imports vehicles and components, tobacco, consumer goods, electrical machinery, petroleum products, chemicals, tractors, and metals.
Last Updated On : May 24, 2013
The official flag of Paraguay has two sides each of which has three equal bands of red, white and blue color. The middle band, on the obverse side , has emblem of National coat of arms of Paraguay and on the reverse side, it has emblem of the seal of the treasury . It was adopted in 1842.
Lat Long-25.266667, -57.666667
Form of GovernmentUnitary presidential constitutional republic
Vice PresidentJuan Afara
GDP$53.123 billion 2013 estimate
Time ZonePYT (UTC-4)