The economy of Paraguay advanced 1.1 percent year-on-year in Q3 2018, slowing from an upwardly revised 6.4 percent growth in Q2. It is the weakest expansion since the first quarter of 2016. Output grew less in trade and services (3.2% vs 5.8% in Q2); manufacturing (0.2% vs 9.8%); agriculture (3.3% vs 5.9%) and livestock, forestry, fishing and mining (1.2% vs 2.3%). In addition, both the construction (-5.1% vs 13.4%) and the utilities (-5.6% vs -0.2%) contracted. On a quarterly basis, the economy shrank 5.2 percent, after an upwardly revised 1 percent contraction in Q2. GDP Annual Growth Rate in Paraguay averaged 3.50 percent from 1995 until 2018, reaching an all time high of 16.40 percent in the first quarter of 2013 and a record low of -7.70 percent in the second quarter of 2009.
GDP Annual Growth Rate in Paraguay is expected to be 4.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Paraguay to stand at 3.70 in 12 months time. In the long-term, the Paraguay GDP Annual Growth Rate is projected to trend around 3.80 percent in 2020, according to our econometric models.