About Paraguay
Paraguay is a landlocked country between Argentina, Brazil and Bolivia, home to large swaths of swampland, subtropical forest and chaco, wildernesses comprising savanna and scrubland. The capital, Asunción, on the banks of the Paraguay River, is home to the grand Government Palace and the Museo del Barro, displaying pre-Columbian ceramics and ñandutí lacework, the latter available in many shops.
Country Name: Paraguay
Region: South America
Capital: Asunción
Official Languages: Spanish, Guarani
Currency: Paraguayan guaraní (PYG)
Population: (update to current data)
Time Zone: Paraguay Time (PYT)
Major Cities: Asunción, Ciudad del Este, San Lorenzo, Luque, Capiatá
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Trade Overview:
Paraguay’s economy is marked by a large informal sector, including re-export of imported consumer goods to neighboring countries, as well as the activities of thousands of microenterprises and urban street vendors. It is a significant exporter of soybeans, beef, and electricity.
Major Imports: Refined petroleum, cars, packaged medicaments, broadcasting equipment, telephones
Major Exports: Soybeans, electricity, beef, oilseeds, corn
Import/Export Regulations:
Paraguay maintains a relatively liberal trade regime, but certain goods may require specific permits or licenses.
Trade Agreements:
Paraguay is a member of the Southern Common Market (MERCOSUR).
Business Culture:
Business culture in Paraguay is formal. Respect and good manners are essential. Relationships are very important, and negotiations may take some time.
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