Paraguay’s economy surged in 2024, attracting 1,051 foreign companies interested in investment. This remarkable figure, reported by the Ministry of Industry and Commerce (MIC), signals Paraguay’s rising status as a business hotspot.
The country’s GDP grew by 4%, outpacing many regional competitors. Paraguay’s investment-friendly policies played a key role in this success. Special regimes like Law 60/90 and the Maquila system generated $514 million in investments.
The Maquila regime alone approved 36 projects worth $103 million, projecting 2,054 new jobs. These initiatives boosted exports, with manufactured products exceeding $1.1 billion in international sales.
The business landscape flourished, with 7,666 new companies registered in 2024. The Simplified Stock Company (EAS) model, introduced in 2021, proved popular, accounting for 5,926 new registrations. This streamlined structure attracts investors with its efficiency.
Paraguay’s economic achievements extended beyond domestic growth. The country received an investment grade status from Moody‘s for the first time.
However, this upgrade reflects sound macroeconomic policies and successful efforts to diversify the economy. The government maintained fiscal discipline, keeping the deficit at 2.6% of GDP.
These developments position Paraguay as an emerging economic force in Latin America. The country’s ability to attract foreign investment, coupled with strong GDP growth, sets the stage for continued economic expansion.
Additionally, its export performance contributes to sustaining this growth. As Paraguay builds on these successes, it offers increasing opportunities for both domestic and international businesses.
Key Facts
— Deep Dive
— For the complete picture, read our in-depth guide: Paraguay: Washington's Most Valued Ally in Latin America
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