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Economy of Guyana vs Paraguay compared: GDP & Debt

Updated on by Georank team

Guyana has a GDP of $24.7B compared to $44.5B for Paraguay, ranking 120/197 and 98/197 by economy size, respectively.

Guyana has $5.99B in government debt (24.3% of GDP), compared to $19.9B (44.8% of GDP) in Paraguay.

Guyana vs Paraguay GDP by year

Guyana
Paraguay
1x
Year GDP, current $
Guyana Paraguay
2024 $24,662,709,832 $44,458,118,397
2023 $16,918,503,597 $43,118,053,175
2022 $14,718,388,489 $41,952,910,858
2021 $8,041,362,110 $39,950,899,939
2020 $5,471,256,595 $35,432,178,068
2019 $5,173,760,192 $37,925,338,329
2018 $4,787,636,998 $40,225,448,341
2017 $4,748,174,334 $38,997,129,474
2016 $4,482,697,337 $36,089,700,223
2015 $4,279,840,194 $36,211,447,840
2014 $4,127,660,152 $40,377,929,296
2013 $4,167,800,929 $38,501,122,141
2012 $4,063,088,536 $33,271,921,136
2011 $3,691,384,318 $33,756,238,766
2010 $3,432,912,517 $27,260,886,405
2009 $3,165,663,153 $22,355,151,162
2008 $3,025,187,433 $24,615,267,664
2007 $2,730,971,595 $17,856,393,235
2006 $2,379,817,991 $13,429,430,050
2005 $824,880,550 $10,737,500,188
2004 $787,814,379 $9,624,440,836
2003 $743,063,950 $7,691,367,471
2002 $726,131,435 $7,196,260,657
2001 $712,167,450 $8,495,806,432
2000 $712,667,897 $8,855,705,140
1999 $694,754,988 $8,837,070,236
1998 $717,530,683 $9,260,481,572
1997 $749,138,010 $9,965,225,678
1996 $705,406,001 $9,788,391,781
1995 $621,626,786 $9,062,131,475
1994 $540,874,934 $7,870,982,005
1993 $454,101,382 $7,249,533,620
1992 $373,573,141 $7,157,424,031
1991 $348,533,095 $6,984,367,763
1990 $396,582,263 $5,812,114,523
1989 $379,779,390 $4,757,732,200
1988 $413,799,990 $4,255,683,528
1987 $354,591,847 $3,971,044,724
1986 $504,651,140 $3,723,993,943
1985 $453,488,372 $3,282,449,236
1984 $437,631,605 $4,502,462,807
1983 $489,333,333 $5,673,248,726
1982 $482,000,000 $5,419,411,765
1981 $570,357,107 $5,624,515,873
1980 $603,200,000 $4,448,087,302
1979 $530,440,000 $3,416,777,778
1978 $507,080,000 $2,559,857,143
1977 $449,880,000 $2,092,158,730
1976 $454,440,000 $1,698,960,317
1975 $494,791,667 $1,511,420,635
1974 $433,954,545 $1,333,475,397
1973 $307,047,619 $995,531,746
1972 $285,380,952 $769,039,683
1971 $282,050,000 $664,571,429
1970 $267,800,000 $594,611,111
1969 $249,300,000 $556,293,651
1968 $229,750,000 $517,650,794
1967 $250,176,471 $492,674,603
1966 $228,705,882 $465,888,889
1965 $213,235,294 $443,587,302
1964 $194,774,513 $408,349,206
1963 $175,757,894 $383,904,762
1962 $194,949,513 $360,698,413
1961 $185,849,535 $322,053,713
1960 $170,216,241 $288,884,368

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/guyana/paraguay | CC BY

GDP per capita in Guyana vs Paraguay by year

Guyana
GDP per capita

GDP per capita, PPP
Paraguay
GDP per capita

GDP per capita, PPP
1x
Year Current $
Guyana Paraguay
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $29,675 $80,155 $6,416 $18,524
2023 $20,474 $54,729 $6,300 $17,564
2022 $17,913 $39,711 $6,206 $16,347
2021 $9,861 $22,866 $5,977 $15,406
2020 $6,776 $16,819 $5,365 $14,309
2019 $6,406 $13,241 $5,821 $14,150
2018 $6,048 $12,443 $6,258 $14,139
2017 $6,179 $12,243 $6,152 $13,977
2016 $5,871 $11,516 $5,775 $13,329
2015 $5,640 $11,408 $5,879 $12,679
2014 $5,473 $11,145 $6,652 $12,607
2013 $5,557 $11,200 $6,436 $12,137
2012 $5,444 $10,627 $5,642 $10,954
2011 $4,947 $10,066 $5,805 $11,442
2010 $4,582 $9,337 $4,751 $10,893
2009 $4,209 $8,824 $3,942 $9,802
2008 $4,009 $8,437 $4,385 $9,867
2007 $3,608 $8,110 $3,212 $9,179
2006 $3,136 $7,346 $2,439 $8,561
2005 $1,084 $6,761 $1,971 $8,007
2004 $1,033 $6,673 $1,786 $7,686
2003 $974 $6,392 $1,444 $7,276
2002 $951 $6,304 $1,368 $6,924
2001 $932 $6,131 $1,638 $6,916
2000 $932 $5,860 $1,736 $6,937
1999 $909 $5,812 $1,766 $7,080
1998 $940 $5,573 $1,890 $7,227
1997 $983 $5,615 $2,079 $7,299
1996 $928 $5,210 $2,088 $7,040
1995 $820 $4,753 $1,979 $6,966
1994 $716 $4,447 $1,760 $6,542
1993 $603 $4,027 $1,662 $6,234
1992 $498 $3,651 $1,683 $5,952
1991 $466 $3,322 $1,685 $5,873
1990 $529 $3,022 $1,440 $5,637
1989 $503 - $1,211 -
1988 $545 - $1,114 -
1987 $464 - $1,069 -
1986 $657 - $1,031 -
1985 $588 - $935 -
1984 $565 - $1,319 -
1983 $631 - $1,710 -
1982 $621 - $1,680 -
1981 $735 - $1,793 -
1980 $779 - $1,457 -
1979 $689 - $1,149 -
1978 $663 - $883 -
1977 $593 - $740 -
1976 $604 - $616 -
1975 $664 - $562 -
1974 $588 - $508 -
1973 $421 - $389 -
1972 $395 - $308 -
1971 $396 - $272.1 -
1970 $381 - $249 -
1969 $361 - $238.2 -
1968 $340 - $226.8 -
1967 $378 - $220.9 -
1966 $353 - $213.9 -
1965 $336 - $208.7 -
1964 $313 - $197 -
1963 $288.8 - $189.9 -
1962 $327 - $182.8 -
1961 $319 - $167.1 -
1960 $299.1 - $153.4 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/guyana/paraguay | CC BY

Guyana's GDP per capita is $29,675, ranking 41/197, compared to $6,416 in Paraguay, ranking 109/197. Adjusted for purchasing power (GDP per capita PPP), Guyana ranks 15th at $80,155, while Paraguay ranks 102nd at $18,524.

Economic indicators

Guyana Paraguay
Gross domestic product
$24.7B
2024
$44.5B
2024
GDP rank
120/197
2024
98/197
2024
GDP growth
43.8%
2023-2024
4.25%
2023-2024
GDP per capita
$29,675
2024
$6,416
2024
GDP per capita rank
41/197
2024
109/197
2024
GDP per capita, PPP
$80,155
2024
$18,524
2024
GDP per capita PPP rank
15/197
2024
102/197
2024
Government debt
$5.99B
2024
$19.9B
2024
Debt-to-GDP ratio
24.3%
2024
44.8%
2024
Government debt per person
$7,213
2024
$2,872
2024
Government debt per person rank
66/185
2024
103/185
2024
Average annual personal income after taxes
$13,212
2026
$6,136
2026
Market capitalization of domestic companies n/a
$313M
1999
Income share by richest 10%
34.4%
1998
35%
2024
Income share by poorest 10%
1.1%
1998
2%
2024
Government expenditure, % of GDP
23.2%
2024
21%
2024
Consumer prices inflation
2.5%
2023-2024
3.84%
2023-2024
Central bank interest rate n/a
6%
2024
Unemployment rate
13.2%
2019
5.69%
2024
Population
842249
7120169

Spending and national debt comparison by year

Guyana
Spending

Debt
Paraguay
Spending

Debt
1x
Year % of GDP
Guyana Paraguay
Government spending Government debt Government spending Government debt
2024 23.2% 24.3% 21% 44.8%
2023 23.7% 26.7% 21.5% 41.1%
2022 20.3% 24.8% 20.2% 40.5%
2021 24.8% 45.7% 20.4% 37.5%
2020 30.5% 59.5% 22.6% 36.9%
2019 28.1% 54% 20.1% 25.8%
2018 27.6% 47.9% 18.5% 22.3%
2017 26.3% 46.1% 18.1% 19.8%
2016 25.2% 44% 17.7% 19.4%
2015 21.7% 42.2% 18% 18.6%
2014 23.1% 38.7% 17.1% 15.6%
2013 21.4% 41.4% 17.1% 13.5%
2012 21.8% 44.7% 17.6% 12.3%
2011 23.5% 51.7% 14.7% 11.1%
2010 23.9% 53.1% 13.3% 13%
2009 25.4% 52.3% 14.3% 14.9%
2008 24.1% 48.2% 11.8% 16%
2007 25.5% 47.7% 13.1% 16.8%
2006 29% 74.5% 14.1% 21%
2005 28.4% 90.7% 14% 28.3%
2004 23.7% 91.8% 14% 36%
2003 23.5% 95.6% 14.6% 37.5%
2002 23.1% 105.1% 17.6% 50.5%
2001 24% 104.6% 19% 37.1%
2000 22.9% 97.2% 19.6% 33.6%
1999 17.6% 97.1% 19.2% 32%
1998 19.7% 108% 18% 22.1%
1997 20.9% 101.3% 18.1% 18%
1996 - - 16.9% 16.8%
1995 - - 15.7% 17.6%
1994 - - 14.5% 18.7%
1993 - - 12.9% 26.6%
1992 - - 13% 34.4%
1991 - - 11.4% 49.4%
1990 - - 10.5% 67%
1989 - - 11.8% 52.9%
1988 - - 9.75% 58.9%
1987 - - 10.1% 68.7%
1986 - - 9.25% 57.1%
1985 - - 11.4% 54.7%
1984 - - 13% 31%
1983 - - 13% 22.6%
1982 - - 13.2% 21.3%
1981 - - 13.3% 17.4%
1980 - - 11.6% 17.4%
1979 - - 11.7% 19.7%
1978 - - 11.9% 20.9%
1977 - - 11.2% 18.8%
1976 - - 9.8% 14.1%
1975 - - 10.5% 12.6%
1974 - - 9.44% 12.5%
1973 - - 11.2% 15.4%
1972 - - 12.5% 18.2%
1971 - - 12.3% 18.9%
1970 - - 13.3% 19.2%
1969 - - 14% -
1968 - - 13.5% -
1967 - - 12.2% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1967–1989, retrieved 2026-02-20).

GeoRank.org/economy/guyana/paraguay | CC BY

In 2024, Guyana's government spending was $5.72B, accounting for 23.2% of its GDP, while Paraguay spent $9.33B, or 21% of GDP.

Debt-to-GDP ratio is 24.3% in Guyana and 44.8% in Paraguay, ranking 168/185 and 120/185, respectively.

Government deficit by year

Deficit/surplus
Guyana

Paraguay
1x
Year Deficit/surplus, % of GDP
Guyana Paraguay
2024 -7.31% -2.12%
2023 -5.78% -3.81%
2022 -5.11% -2.64%
2021 -6.94% -3.39%
2020 -7.78% -5.72%
2019 -2.52% -2.44%
2018 -2.52% -1.01%
2017 -3.14% -0.44%
2016 -3.21% -0.37%
2015 -0.75% -0.44%
2014 -3.88% -0.27%
2013 -2.16% -1.16%
2012 -3.11% -0.58%
2011 -2.13% 1.29%
2010 -1.88% 1.54%
2009 -2.5% 0.59%
2008 -2.78% 2.29%
2007 -3.35% 1.27%
2006 -6.16% 0.91%
2005 -6.54% 0.74%
2004 -2.88% 1.33%
2003 -4.81% -0.07%
2002 -2.42% -1.89%
2001 -3.71% 0.07%
2000 -2.27% -0.55%
1999 -0.47% 2.67%
1998 -2.67% 4.28%
1997 -1.7% 3%
1996 - 2.43%
1995 - 2.78%
1994 - 4.59%
1993 - 4.27%
1992 - 3.1%
1991 - 3.41%
1990 - 7.56%
1989 - 5.48%
1988 - 3.01%
1987 - 2.68%
1986 - 3.08%
1985 - 0.85%
1984 - -0.42%
1983 - 0.27%
1982 - 1.52%
1981 - 0.15%
1980 - 3.4%
1979 - 4.13%
1978 - -3.42%
1977 - -0.19%
1976 - -0.06%
1975 - -1.24%
1974 - 1.67%
1973 - -0.91%
1972 - -2.51%
1971 - -1.25%
1970 - -1.26%
1969 - -1.62%
1968 - -2.34%
1967 - -1.7%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1967–1989, retrieved 2026-02-20).

GeoRank.org/economy/guyana/paraguay | CC BY

In 2024, Guyana's government deficit, the difference between spending and revenue, was $1.8B, equivalent to 7.31% of GDP. This compares to Paraguay's deficit of $942M, or 2.12% of GDP.

Over the past 28 years, Guyana recorded a fiscal deficit in 28 of those years, while Paraguay ran a deficit in 16 years. On average, Guyana posted an annual deficit equal to 3.59% of GDP, compared to deficit of 0.25% of GDP for Paraguay.

Inflation comparison by year

Inflation
Guyana

Paraguay
1x
Year Consumer prices inflation
Guyana Paraguay
2024 2.5% 3.84%
2023 4.5% 4.63%
2022 6.5% 9.77%
2021 3.3% 4.79%
2020 1.2% 1.77%
2019 2.1% 2.76%
2018 1.3% 3.98%
2017 1.9% 3.6%
2016 0.8% 4.09%
2015 -0.9% 3.13%
2014 0.7% 5.03%
2013 1.9% 2.68%
2012 2.4% 3.68%
2011 4.4% 8.25%
2010 4.3% 4.65%
2009 3% 2.59%
2008 8.1% 10.2%
2007 12.2% 8.13%
2006 6.7% 9.59%
2005 6.9% 6.81%
2004 4.7% 4.32%
2003 6% 14.2%
2002 5.4% 10.5%
2001 2.6% 7.27%
2000 6.1% 8.98%
1999 7.5% 6.75%
1998 4.6% 11.6%
1997 3.6% 6.95%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

GeoRank.org/economy/guyana/paraguay | CC BY

Over the past 28 years, Guyana has recorded an average annual inflation rate of 4.08%, compared with 6.23% in Paraguay. In 2024, inflation was 2.5% in Guyana and 3.84% in Paraguay.

Top exports between countries

Guyana
Export category Export value
Machinery & equipment $44K
Paraguay
Export category Export value
Machinery & equipment $2.31M
Metals $563K
Textiles & consumer goods $294K
Raw materials & minerals $130K
Chemicals & pharma $41K

Balance of trade

Guyana Paraguay
Current account balance
$2.35B
2023
-$1.53B
2024
Current account balance ranking
43/190
2023
133/190
2024
Current account balance, % of GDP
+13.9%
2023
-3.44%
2024
Goods imports
$6B
2023
$15.8B
2024
Goods exports
$13.2B
2023
$14.9B
2024
Service imports
$4.95B
2023
$2.54B
2024
Service exports
$529M
2023
$2.65B
2024
Imports of goods and services, % of GDP
109.7%
2005
39.6%
2024
Exports of goods and services, % of GDP
84.6%
2005
37.2%
2024

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Guyana Paraguay
Economic freedom 58.7 66.4
Economic freedom ranking 109/197 61/197
Property rights 46.7 44.2
Government integrity 38.8 27.3
Judicial effectiveness 48.6 38.4
Tax burden 76.4 95.9
Government spending 85 86.9
Fiscal health 39.9 83
Business freedom 70.9 72
Labor freedom 76 44.1
Monetary freedom 78.5 76.5
Trade freedom 59.2 78.4
Investment freedom 55 80
Financial freedom 30 70

Economic freedom comparison by year

Guyana
Paraguay
1x
Year Economic freedom index
Guyana Paraguay
2026 58.7 66.4
2025 58.2 65.2
2024 57.3 60.1
2023 56.9 61
2022 59.5 62.9
2021 57.4 62.6
2020 56.2 63
2019 56.8 61.8
2018 58.7 62.1
2017 58.5 62.4
2016 55.4 61.5
2015 55.5 61.1
2014 55.7 62
2013 53.8 61.1
2012 51.3 61.8
2011 49.4 62.3
2010 48.4 61.3
2009 48.4 61
2008 48.8 60
2007 53.7 58.3
2006 56.6 55.6
2005 56.5 53.4
2004 53 56.7
2003 50.3 58.2
2002 54.3 59.6
2001 53.3 60.3
2000 52.4 64
1999 53.3 63.7
1998 52.7 65.2
1997 53.2 67.3
1996 50.1 67.1
1995 45.7 65.9

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

GeoRank.org/economy/guyana/paraguay | CC BY

The Economic Freedom Index for Guyana is 58.7, ranking 109/197, compared to 66.4 for Paraguay, ranking 61/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Guyana Paraguay
Services, % of GDP
14.5%
2024
48.7%
2024
Industry, % of GDP
76%
2024
32.5%
2024
Agriculture, forestry, and fishing, % of GDP
7.62%
2024
10.7%
2024
GNI, Atlas method
$16.7B
2024
$43.7B
2024
GNI per capita, PPP
$52,290
2024
$17,930
2024
Total reserves including gold
$1.01B
2024
$9.89B
2023
Total reserves ranking
141/177
2024
76/177
2023
Net foreign direct investment
$1.14B
2023
-$335M
2024
Net inflows of foreign direct investment
$8.63B
2024
$1.1B
2024
Net outflows of foreign direct investment
$5.7M
2024
$166M
2024
Servicing debt to the IMF, % of GNI
3.73%
2024
4.58%
2024
Poverty at national poverty lines
35%
2020
20.1%
2024
Gross capital formation, % of GDP
32.3%
2005
22.8%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/guyana/paraguay | CC BY

Compare countries by 7 more topics

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. International Monetary Fund (IMF) | Public Finances in Modern History (1967–1989, retrieved 2026-02-20)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. TradeMap (2022–2024, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)
  9. Central Intelligence Agency (CIA) (2020, retrieved 2026-02-20)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.