Paraguay: Selected Issues

International Monetary Fund

No 2024/201, IMF Staff Country Reports from International Monetary Fund

Abstract: The Selected Issues paper focuses on analyzing trade barriers in Paraguay. This study aims to conduct a more comprehensive analysis of Paraguay's trade performance compared to other Latin American nations and countries outside the region that share similar traits with Paraguay. The analysis highlights the crucial role of comprehensive policies in infrastructure development, governance enhancement, and human capital improvement for promoting trade in all countries, including Paraguay. Reducing trade barriers, overcoming infrastructure shortfalls, and enacting policies to enhance Paraguay's attractiveness for investment are key strategies for fostering trade and economic development. Finally, given Paraguay's levels of export concentration across products, alongside an increasing concentration across markets, and the vulnerability of its primary agricultural exports to droughts, diversification strategies should be intensified, both in terms of products and export markets. Investing in agricultural technology and practices that enhance drought resilience is crucial to safeguard primary exports. Additionally, exploring and developing nonagricultural sectors for export can reduce reliance on volatile agricultural commodities.

Keywords: trade level; trade performance; E. policy implication; trade pattern; elasticity of formality; Social security contributions; Exports; Informal employment; Trade policy; Caribbean; South America; Global (search for similar items in EconPapers)
Pages: 26
Date: 2024-07-01
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