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Economy of Paraguay vs Saint Vincent compared: GDP & Debt

Updated on by Georank team

Paraguay has a GDP of $44.5B compared to $1.16B for Saint Vincent, ranking 98/197 and 186/197 by economy size, respectively.

Paraguay has $19.9B in government debt (44.8% of GDP), compared to $1.07B (92.7% of GDP) in Saint Vincent.

Paraguay vs Saint Vincent GDP by year

Paraguay
Saint Vincent
1x
Year GDP, current $
Paraguay Saint Vincent
2024 $44,458,118,397 $1,157,207,407
2023 $43,118,053,175 $1,072,237,037
2022 $41,952,910,858 $989,188,889
2021 $39,950,899,939 $888,677,778
2020 $35,432,178,068 $864,566,667
2019 $37,925,338,329 $910,481,481
2018 $40,225,448,341 $884,329,630
2017 $38,997,129,474 $844,040,741
2016 $36,089,700,223 $814,303,704
2015 $36,211,447,840 $786,555,556
2014 $40,377,929,296 $770,900,000
2013 $38,501,122,141 $764,781,259
2012 $33,271,921,136 $730,032,593
2011 $33,756,238,766 $713,796,370
2010 $27,260,886,405 $720,447,889
2009 $22,355,151,162 $714,300,259
2008 $24,615,267,664 $732,663,259
2007 $17,856,393,235 $713,596,667
2006 $13,429,430,050 $643,501,148
2005 $10,737,500,188 $579,948,926
2004 $9,624,440,836 $549,900,185
2003 $7,691,367,471 $509,090,889
2002 $7,196,260,657 $487,763,852
2001 $8,495,806,432 $462,072,333
2000 $8,855,705,140 $427,946,037
1999 $8,837,070,236 $390,718,519
1998 $9,260,481,572 $373,618,519
1997 $9,965,225,678 $347,770,370
1996 $9,788,391,781 $331,488,889
1995 $9,062,131,475 $316,007,407
1994 $7,870,982,005 $289,437,037
1993 $7,249,533,620 $286,307,407
1992 $7,157,424,031 $277,955,556
1991 $6,984,367,763 $254,829,630
1990 $5,812,114,523 $240,366,667
1989 $4,757,732,200 $214,745,002
1988 $4,255,683,528 $200,726,713
1987 $3,971,044,724 $175,580,647
1986 $3,723,993,943 $160,846,657
1985 $3,282,449,236 $145,641,705
1984 $4,502,462,807 $135,024,988
1983 $5,673,248,726 $122,255,350
1982 $5,419,411,765 $113,759,203
1981 $5,624,515,873 $102,086,539
1980 $4,448,087,302 $82,340,340
1979 $3,416,777,778 $71,096,360
1978 $2,559,857,143 $60,844,771
1977 $2,092,158,730 $49,353,162
1976 $1,698,960,317 $32,792,845
1975 $1,511,420,635 $33,237,226
1974 $1,333,475,397 $32,923,703
1973 $995,531,746 $30,165,081
1972 $769,039,683 $27,585,805
1971 $664,571,429 $20,051,922
1970 $594,611,111 $18,450,000
1969 $556,293,651 $16,650,000
1968 $517,650,794 $15,350,000
1967 $492,674,603 $15,835,106
1966 $465,888,889 $16,099,960
1965 $443,587,302 $15,108,296
1964 $408,349,206 $14,758,296
1963 $383,904,762 $13,708,299
1962 $360,698,413 $14,524,964
1961 $322,053,713 $13,999,965
1960 $288,884,368 $13,066,634

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

GeoRank.org/economy/paraguay/saint-vincent | CC BY

GDP per capita in Paraguay vs Saint Vincent by year

Paraguay
GDP per capita

GDP per capita, PPP
Saint Vincent
GDP per capita

GDP per capita, PPP
1x
Year Current $
Paraguay Saint Vincent
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $6,416 $18,524 $11,501 $21,272
2023 $6,300 $17,564 $10,582 $19,820
2022 $6,206 $16,347 $9,694 $18,035
2021 $5,977 $15,406 $8,641 $16,201
2020 $5,365 $14,309 $8,351 $15,337
2019 $5,821 $14,150 $8,741 $15,340
2018 $6,258 $14,139 $8,428 $14,690
2017 $6,152 $13,977 $7,988 $13,575
2016 $5,775 $13,329 $7,657 $13,493
2015 $5,879 $12,679 $7,354 $12,379
2014 $6,652 $12,607 $7,169 $12,136
2013 $6,436 $12,137 $7,072 $11,625
2012 $5,642 $10,954 $6,714 $10,989
2011 $5,805 $11,442 $6,528 $10,774
2010 $4,751 $10,893 $6,552 $10,561
2009 $3,942 $9,802 $6,464 $10,869
2008 $4,385 $9,867 $6,599 $10,902
2007 $3,212 $9,179 $6,398 $10,604
2006 $2,439 $8,561 $5,745 $9,949
2005 $1,971 $8,007 $5,157 $8,986
2004 $1,786 $7,686 $4,873 $8,472
2003 $1,444 $7,276 $4,500 $7,903
2002 $1,368 $6,924 $4,303 $7,250
2001 $1,638 $6,916 $4,071 $6,768
2000 $1,736 $6,937 $3,769 $6,503
1999 $1,766 $7,080 $3,447 $6,266
1998 $1,890 $7,227 $3,301 $6,026
1997 $2,079 $7,299 $3,074 $5,726
1996 $2,088 $7,040 $2,930 $5,440
1995 $1,979 $6,966 $2,795 $5,277
1994 $1,760 $6,542 $2,563 $4,802
1993 $1,662 $6,234 $2,540 $4,769
1992 $1,683 $5,952 $2,471 $4,477
1991 $1,685 $5,873 $2,271 $4,126
1990 $1,440 $5,637 $2,150 $3,960
1989 $1,211 - $1,930 -
1988 $1,114 - $1,814 -
1987 $1,069 - $1,596 -
1986 $1,031 - $1,472 -
1985 $935 - $1,342 -
1984 $1,319 - $1,254 -
1983 $1,710 - $1,144 -
1982 $1,680 - $1,074 -
1981 $1,793 - $972 -
1980 $1,457 - $790 -
1979 $1,149 - $687 -
1978 $883 - $592 -
1977 $740 - $484 -
1976 $616 - $324 -
1975 $562 - $331 -
1974 $508 - $331 -
1973 $389 - $306 -
1972 $308 - $282.1 -
1971 $272.1 - $207 -
1970 $249 - $192.3 -
1969 $238.2 - $175.2 -
1968 $226.8 - $163.1 -
1967 $220.9 - $170 -
1966 $213.9 - $174.9 -
1965 $208.7 - $166.2 -
1964 $197 - $164.4 -
1963 $189.9 - $154.9 -
1962 $182.8 - $166.5 -
1961 $167.1 - $163 -
1960 $153.4 - $154.8 -

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

GeoRank.org/economy/paraguay/saint-vincent | CC BY

Paraguay's GDP per capita is $6,416, ranking 109/197, compared to $11,501 in Saint Vincent, ranking 81/197. Adjusted for purchasing power (GDP per capita PPP), Paraguay ranks 102nd at $18,524, while Saint Vincent ranks 92nd at $21,272.

Economic indicators

Paraguay Saint Vincent
Gross domestic product
$44.5B
2024
$1.16B
2024
GDP rank
98/197
2024
186/197
2024
GDP growth
4.25%
2023-2024
4.06%
2023-2024
GDP per capita
$6,416
2024
$11,501
2024
GDP per capita rank
109/197
2024
81/197
2024
GDP per capita, PPP
$18,524
2024
$21,272
2024
GDP per capita PPP rank
102/197
2024
92/197
2024
Government debt
$19.9B
2024
$1.07B
2024
Debt-to-GDP ratio
44.8%
2024
92.7%
2024
Government debt per person
$2,872
2024
$10,659
2024
Government debt per person rank
103/185
2024
56/185
2024
Average annual personal income after taxes
$6,136
2026
$12,573
2026
Market capitalization of domestic companies
$313M
1999
n/a
Income share by richest 10%
35%
2024
n/a
Income share by poorest 10%
2%
2024
n/a
Government expenditure, % of GDP
21%
2024
39.1%
2024
Consumer prices inflation
3.84%
2023-2024
3.63%
2023-2024
Central bank interest rate
6%
2024
n/a
Unemployment rate
5.69%
2024
18.8%
2008
Population
7120169
99237

Spending and national debt comparison by year

Paraguay
Spending

Debt
Saint Vincent
Spending

Debt
1x
Year % of GDP
Paraguay Saint Vincent
Government spending Government debt Government spending Government debt
2024 21% 44.8% 39.1% 92.7%
2023 21.5% 41.1% 38.9% 89.4%
2022 20.2% 40.5% 36.6% 86.3%
2021 20.4% 37.5% 37.2% 88.4%
2020 22.6% 36.9% 32.9% 80.2%
2019 20.1% 25.8% 29.2% 68.2%
2018 18.5% 22.3% 26.3% 69.4%
2017 18.1% 19.8% 26.6% 69%
2016 17.7% 19.4% 27.1% 79.4%
2015 18% 18.6% 27.6% 75.1%
2014 17.1% 15.6% 30.4% 75%
2013 17.1% 13.5% 29.4% 69.9%
2012 17.6% 12.3% 26.5% 68.1%
2011 14.7% 11.1% 29.4% 64%
2010 13.3% 13% 31.1% 61.1%
2009 14.3% 14.9% 31% 57.2%
2008 11.8% 16% 28.4% 50.3%
2007 13.1% 16.8% 27.1% 48.5%
2006 14.1% 21% 26.1% 44.7%
2005 14% 28.3% 26.7% 50.5%
2004 14% 36% 24.9% 58.6%
2003 14.6% 37.5% 26% 55.3%
2002 17.6% 50.5% 25.7% 53.2%
2001 19% 37.1% 24.4% 52%
2000 19.6% 33.6% 23.8% 54.3%
1999 19.2% 32% 25.2% 52.9%
1998 18% 22.1% 25.2% 39.5%
1997 18.1% 18% 26% 38.8%
1996 16.9% 16.8% 20.9% 40.7%
1995 15.7% 17.6% 19.9% 46.8%
1994 14.5% 18.7% 22.4% 52.8%
1993 12.9% 26.6% 22.3% 48.1%
1992 13% 34.4% 25.4% 49.6%
1991 11.4% 49.4% 25.5% 52.1%
1990 10.5% 67% 23.1% 53.9%
1989 11.8% 52.9% 27.6% -
1988 9.75% 58.9% 24.8% -
1987 10.1% 68.7% 23.7% -
1986 9.25% 57.1% 22.3% -
1985 11.4% 54.7% 21.4% -
1984 13% 31% 23.1% -
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/paraguay/saint-vincent | CC BY

In 2024, Paraguay's government spending was $9.33B, accounting for 21% of its GDP, while Saint Vincent spent $453M, or 39.1% of GDP.

Debt-to-GDP ratio is 44.8% in Paraguay and 92.7% in Saint Vincent, ranking 120/185 and 29/185, respectively.

Government deficit by year

Deficit/surplus
Paraguay

Saint Vincent
1x
Year Deficit/surplus, % of GDP
Paraguay Saint Vincent
2024 -2.12% -12.9%
2023 -3.81% -12%
2022 -2.64% -9.35%
2021 -3.39% -7.19%
2020 -5.72% -5.92%
2019 -2.44% -3.45%
2018 -1.01% -1.65%
2017 -0.44% -1.56%
2016 -0.37% 0.04%
2015 -0.44% -2.01%
2014 -0.27% -2.82%
2013 -1.16% -5.81%
2012 -0.58% -1.81%
2011 1.29% -3.5%
2010 1.54% -3.7%
2009 0.59% -2.85%
2008 2.29% -1.3%
2007 1.27% -3.07%
2006 0.91% -3.13%
2005 0.74% -4.3%
2004 1.33% -2.71%
2003 -0.07% -2.51%
2002 -1.89% -2%
2001 0.07% -1.6%
2000 -0.55% -0.82%
1999 2.67% -1.93%
1998 4.28% -1.81%
1997 3% -2.77%
1996 2.43% 1.57%
1995 2.78% 1.08%
1994 4.59% 0.12%
1993 4.27% -1.46%
1992 3.1% -3.25%
1991 3.41% -0.47%
1990 7.56% 1.69%
1989 5.48% -1.92%
1988 3.01% 0.59%
1987 2.68% 1.1%
1986 3.08% 2.32%
1985 0.85% 4.23%
1984 -0.42% 2.5%
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/paraguay/saint-vincent | CC BY

In 2024, Paraguay's government deficit, the difference between spending and revenue, was $942M, equivalent to 2.12% of GDP. This compares to Saint Vincent's deficit of $149M, or 12.9% of GDP.

Over the past 41 years, Paraguay recorded a fiscal deficit in 17 of those years, while Saint Vincent ran a deficit in 31 years. On average, Paraguay posted an annual surplus equal to 0.88% of GDP, compared to deficit of 2.35% of GDP for Saint Vincent.

Inflation comparison by year

Inflation
Paraguay

Saint Vincent
1x
Year Consumer prices inflation
Paraguay Saint Vincent
2024 3.84% 3.63%
2023 4.63% 4.56%
2022 9.77% 5.66%
2021 4.79% 1.57%
2020 1.77% -0.63%
2019 2.76% 0.91%
2018 3.98% 2.32%
2017 3.6% 2.15%
2016 4.09% -0.15%
2015 3.13% -1.73%
2014 5.03% 0.19%
2013 2.68% 0.81%
2012 3.68% 2.6%
2011 8.25% 3.19%
2010 4.65% 0.75%
2009 2.59% 0.42%
2008 10.2% 10.1%
2007 8.13% 7.24%
2006 9.59% 2.74%
2005 6.81% 3.73%
2004 4.32% 2.96%
2003 14.2% 0.21%
2002 10.5% 1.86%
2001 7.27% 0.9%
2000 8.98% 0.17%
1999 6.75% 1.01%
1998 11.6% 2.14%
1997 6.95% 0.44%

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

GeoRank.org/economy/paraguay/saint-vincent | CC BY

Over the past 28 years, Paraguay has recorded an average annual inflation rate of 6.23%, compared with 2.13% in Saint Vincent. In 2024, inflation was 3.84% in Paraguay and 3.63% in Saint Vincent.

Balance of trade

Paraguay Saint Vincent
Current account balance
-$1.53B
2024
-$157M
2024
Current account balance ranking
133/190
2024
93/190
2024
Current account balance, % of GDP
-3.44%
2024
-13.5%
2024
Goods imports
$15.8B
2024
$445M
2024
Goods exports
$14.9B
2024
$59.2M
2024
Service imports
$2.54B
2024
$196M
2024
Service exports
$2.65B
2024
$366M
2024
Imports of goods and services, % of GDP
39.6%
2024
n/a
Exports of goods and services, % of GDP
37.2%
2024
15.3%
2025

Economic freedom indices

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

Paraguay Saint Vincent
Economic freedom 66.4 60
Economic freedom ranking 61/197 98/197
Property rights 44.2 65.2
Government integrity 27.3 63.3
Judicial effectiveness 38.4 76.9
Tax burden 95.9 82
Government spending 86.9 56.2
Fiscal health 83 2.8
Business freedom 72 67.3
Labor freedom 44.1 60.1
Monetary freedom 76.5 77.3
Trade freedom 78.4 58.8
Investment freedom 80 70
Financial freedom 70 40

Economic freedom comparison by year

Paraguay
Saint Vincent
1x
Year Economic freedom index
Paraguay Saint Vincent
2026 66.4 60
2025 65.2 60.1
2024 60.1 59.8
2023 61 63.5
2022 62.9 65.7
2021 62.6 66.3
2020 63 66.8
2019 61.8 65.8
2018 62.1 67.7
2017 62.4 65.2
2016 61.5 68.8
2015 61.1 68
2014 62 67
2013 61.1 66.7
2012 61.8 66.5
2011 62.3 66.9
2010 61.3 66.9
2009 61 64.3
2008 60 -
2007 58.3 -
2006 55.6 -
2005 53.4 -
2004 56.7 -
2003 58.2 -
2002 59.6 -
2001 60.3 -
2000 64 -
1999 63.7 -
1998 65.2 -
1997 67.3 -
1996 67.1 -
1995 65.9 -

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

GeoRank.org/economy/paraguay/saint-vincent | CC BY

The Economic Freedom Index for Paraguay is 66.4, ranking 61/197, compared to 60 for Saint Vincent, ranking 98/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Paraguay Saint Vincent
Services, % of GDP
48.7%
2024
66.4%
2024
Industry, % of GDP
32.5%
2024
15.4%
2024
Agriculture, forestry, and fishing, % of GDP
10.7%
2024
3.55%
2024
GNI, Atlas method
$43.7B
2024
$1.11B
2024
GNI per capita, PPP
$17,930
2024
$21,150
2024
Total reserves including gold
$9.89B
2023
$317M
2024
Total reserves ranking
76/177
2023
167/177
2024
Net foreign direct investment
-$335M
2024
-$74M
2024
Net inflows of foreign direct investment
$1.1B
2024
$139M
2024
Net outflows of foreign direct investment
$166M
2024
-$1.92M
2024
Servicing debt to the IMF, % of GNI
4.58%
2024
3.84%
2024
Poverty at national poverty lines
20.1%
2024
n/a
Gross capital formation, % of GDP
22.8%
2024
n/a

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/paraguay/saint-vincent | CC BY

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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. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. LivingCost (2026, retrieved 2025-10-14)

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.