MERCOSUR Free Trade Agreements: Andean Community, Mexico, Peru, Chile, India, Egypt, Israel, EU, Southern African Customs Union (SACU), Global System of Trade Preferences among Developing Countries (GSTP).
Paraguay belongs to the Latin American Economic area of the Western Civilization.
Paraguayan Economy.
The Economy of the Republic of Paraguay (America) is small and open, with
extensive reliance on the Foreign Trade and local commerce;
The Paraguayan economy is based on a few
agricultural products production and export (soybeans and vegetable oils) and meat;
Business related to import and consumer products re-export is strong in the informal economic sector;
The Paraguayan services sector represents 49% of the gross domestic product;
The Paraguay-Parana Waterway is intended to develop the
logistics system between the Parana region (Brazil, Paraguay, and Argentina);
The production structure of the Republic of Paraguay has undergone profound changes, such as the agriculture;
The Paraguayan gross domestic product showed a negative growth rate of -3.8%;
The Itaipu hydroelectric dam is a joint venture between Paraguay and Brazil located on the Parana River; the dam is the world's largest hydroelectric central. The energy produced by Itaipu would be enough to supply electricity consumption worldwide for two days;
The currency of Paraguay is the Paraguayan Guarani (PYG);
New Law on Public-Private Partnerships.
International Trade of Paraguay.
Total Paraguayan exports: 13,116 million dollars;
The main Paraguayan export products are soybean (47%), vegetable oils (52%,) and meat products (5%);
The SOFIA System is a computerized Foreign Tradecustoms clearance system that interacts directly with the Customs Brokers,
transportation Companies, Custodians, Customs Officials, and Organizations
related to International Trade;
Paraguay was suspended of the MERCOSUR in 2012-2013.
(c) EENI Global Business School (1995-2023)
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