FX.co ★ Paraguay GDP Annual Growth Accelerates in Q4

In the fourth quarter of 2024, Paraguay's gross domestic product experienced a 3.6% year-on-year increase, an acceleration from the previously adjusted 3.1% growth of the prior quarter. This positive shift was primarily fueled by significant expansions in the construction sector, which surged to 13.6% from 6.0% in the third quarter, and in the services sector, which advanced to 4.8% from 3.2%. Meanwhile, the decline in the utilities sector moderated, with a contraction of 7.9% compared to the previous 9.4% downturn. Conversely, growth decelerated in the manufacturing sector, slipping to 3.1% from 3.8%, and in the combined sectors of livestock, forestry, fishing, and mining, which fell to 2.7% from a robust 13.4%. The agriculture sector, however, experienced a downturn, contracting by 4.3% after previously showing a slight growth of 0.9%. On a quarterly basis, Paraguay's GDP saw a substantial leap of 10.2% in the fourth quarter compared to the third quarter.