Overview of Paraguay

Profile

Paraguay consists of the fertile eastern region between the Paraguay and Paraná rivers, and the arid Chaco plain in the west. With Spanish and Guarani as co-official languages, the vast majority of the population is bilingual, forming a distinctive national identity. After suffering catastrophic losses in the War of the Triple Alliance, the economy has been rebuilt on agriculture, livestock, and hydropower. The Itaipú Dam boasts one of the world's largest hydroelectric power outputs, making Paraguay a net electricity exporter. After a prolonged period of military rule, democratization began with the transition to civilian government in 1989, and the country now operates as a presidential republic.

Official name: Republic of Paraguay
Common name: Paraguay
Numeric code: 600
Alpha-3 code: PRY
Alpha-2 code: PY
Population: Approximately 7.2 million (2024 estimate) (2024)
Population density: Approximately 17.8 persons/km²
Primary languages: Spanish, Guarani
Major religions: Roman Catholicism
National anthem: Himno Nacional del Paraguay ("Paraguayos, República o muerte")
Calling code: +595
Internet TLD: .py

History

Declared independence in 1811, experienced turbulent internal and external wars and dictatorship, but democratization has been taking root since the 1989 transition to civilian rule.

Following independence, José Gaspar Rodríguez de Francia pursued an isolationist, agrarian policy. In the late 19th century, the War of the Triple Alliance resulted in the loss of most of the population and territory. Subsequent political turmoil continued through the Chaco War and a long military dictatorship, but since the collapse of the Stroessner regime in 1989, a multi-party system and regular elections have been established. Today, the country is diversifying into agricultural exports, renewable energy, and IT services.

Geography & climate

The east features hills, forests, and red-earth croplands, while the west is dominated by the dry scrublands and saline wetlands of the Chaco plain. The great Paraguay River runs north-south through the country.

Subtropical humid (east) / Semi-arid steppe (western Chaco)

Area: South America / 406752 km²
Capital: Asunción
Largest city: Asunción
Coastal status: No
Bordering countries: Argentina, Bolivia, Brazil

Natural resources

Hydropower, Timber, Soy, Cotton, Iron ore (deposits), Stevia plant, Freshwater fishery resources, Cattle hide, Honey, Silica sand

Politics

Government: Republic (Presidential system, Unitary state)

Economy

Currency: Guaraní (PYG)

GDP (nominal): 47.7 billion USD (2023)

GDP (PPP): 98.2 billion USD (2023)

Language & timezone

Primary languages: Spanish, Guarani

Time zone: Paraguay Standard Time, Paraguay Summer Time

Culture & customs

Ethnic groups

Mestizo, Guarani indigenous, German, Italian, Japanese, Brazilian, Argentine, Arab

Life expectancy

Approximately 74 years

Literacy rate

Approximately 94%

National sports

Soccer, Futsal, La Paloma (traditional stick fighting), Basketball, Handball, Rally racing (Transchaco)