Paraguay Business
• Main imports: Petroleum, machinery, road vehicles, tobacco and consumer goods.
• Main exports: Electricity, soyabeans, cotton, meat, leather and timber.
• Main trade partners: China, Brazil, Argentina, Russia and Uruguay.
Economy
Hydroelectric projects, undertaken jointly with Brazil and including the world's largest hydroelectric dam at Itaipu, have made Paraguay self-sufficient in energy.
External factors, notably the economic crises in Argentina and Brazil, have also played an important role. Annual growth is at 4% (2006) with unemployment at 9.4% (2005). In July 2002, the IMF offered a US$200 million support package: the government was unable or unwilling to meet the loan conditions however, and relations with the IMF are now effectively frozen.
Paraguay is a member of the 11-strong Latin American Integration Association (Asociación Latinoamericana de Integración, ALADI), which seeks to promote free trade and economic development within Latin America.
Business Etiquette
Office hours: Mon-Fri 0800-1200 and 1430-1900, Sat 0800-1200.
Business Contacts
Estrella 540-550, Asunción, Paraguay
Tel: (21) 493 321.
Website: www.ccparaguay.com.py
Rediex (Ministry of Industry and Commerce)
Avenida López 3333, Villa Morra, Asunción, Paraguay
Tel: (21) 665 112.
Website: www.rediex.gov.py
British Paraguayan Chamber of Commerce
Gral Diaz 521, Edificio Internacional Faro, 2nd Floor, Office 2A, Asunción, Paraguay
Tel: (21) 498 274.
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