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Paraguay- Business and Economy follows free market principles. The country is a member of the South American trade bloc- MERCOSUR. The economic fortunes of the land-locked country is dependent upon its two neighbors- Brazil and Argentina.
Paraguay- Business and Economy is overtly dependent upon the South American countries of Argentina and Brazil. More than 40% of its exports end in these two countries. The Paraguayan economy is dependent on agriculture and its downstream industrial products. The South American country is the biggest exporter of soybeans in the world. Paraguay also exports copious amounts of beef.
The economy of Paraguay is highly influenced by its geographical position. The land-locked country has negotiated with Brazil and Argentina to access marine ports in those two countries. The ports are duty free. The business climate in Paraguay is positive. The South American country is noted for protecting the business interests of foreign investors. The early 1990's saw Paraguay implementing free market reforms. The Paraguayan economy was liberalized. Large scale privatization of Paraguayan government companies occurred during this period. The economic crisis of its neighbors affected Paraguay during that period. Paraguay has shown consistent economic growth at the rate of 2.7% per year after liberalization. The weakness of the banking sector form the weak link in the economic chain.
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Paraguay Business and Economy |
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