Paraguay’s GDP grew by 2.8% year-on-year in the third quarter of the year
The Gross Domestic Product (GDP) of Paraguay grew by 2.8% in the third quarter of the year compared to the same period in 2021, according to the Quarterly Accounts Report published this Thursday by the Central Bank of Paraguay.
With this result adds a fall of 0.6% in the accumulated of the year, after giving negative results in the first (-1.1%) and second quarters (-3.4%).
By sector, the interannual behavior was influenced by the positive performances registered in agriculture (12.7%), manufacturing (3.7%), services (2.2%) and livestock (0.1%). However, the negative result of construction (-7.3%) attenuated the upturn in economic activity.
From the expenditure side, the components with positive incidences have been private consumption and gross capital formation. On the contrary, net exports had a negative behavior.
According to the latest forecasts from the Economic Commission for Latin America and the Caribbean (ECLACl), Paraguay will end this year with negative growth of 0.3%, while in 2023 it will increase its GDP to 4%, one of the highest figures in the region.
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