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Economy of Paraguay vs Seychelles compared: GDP & Debt

Updated on by Georank team

Paraguay has a GDP of $44.5B compared to $2.17B for the Seychelles, ranking 98/197 and 178/197 by economy size, respectively.

Paraguay has $19.9B in government debt (44.8% of GDP), compared to $1.25B (57.6% of GDP) in the Seychelles.

Paraguay vs Seychelles GDP by year

Paraguay
Seychelles
1x
Year GDP, current $
Paraguay Seychelles
2024 $44,458,118,397 $2,167,239,562
2023 $43,118,053,175 $2,187,379,755
2022 $41,952,910,858 $2,018,346,589
2021 $39,950,899,939 $1,487,173,795
2020 $35,432,178,068 $1,382,551,752
2019 $37,925,338,329 $1,868,690,097
2018 $40,225,448,341 $1,784,313,927
2017 $38,997,129,474 $1,675,370,641
2016 $36,089,700,223 $1,568,513,348
2015 $36,211,447,840 $1,432,403,352
2014 $40,377,929,296 $1,387,577,870
2013 $38,501,122,141 $1,333,160,407
2012 $33,271,921,136 $1,089,407,839
2011 $33,756,238,766 $1,058,918,707
2010 $27,260,886,405 $981,616,542
2009 $22,355,151,162 $850,901,620
2008 $24,615,267,664 $979,597,394
2007 $17,856,393,235 $1,077,308,814
2006 $13,429,430,050 $1,081,441,283
2005 $10,737,500,188 $977,899,382
2004 $9,624,440,836 $893,012,218
2003 $7,691,367,471 $750,847,230
2002 $7,196,260,657 $742,134,838
2001 $8,495,806,432 $662,064,156
2000 $8,855,705,140 $654,212,394
1999 $8,837,070,236 $662,838,615
1998 $9,260,481,572 $647,287,376
1997 $9,965,225,678 $598,966,982
1996 $9,788,391,781 $535,250,347
1995 $9,062,131,475 $540,733,048
1994 $7,870,982,005 $517,570,058
1993 $7,249,533,620 $504,230,621
1992 $7,157,424,031 $461,409,399
1991 $6,984,367,763 $398,307,170
1990 $5,812,114,523 $392,163,561
1989 $4,757,732,200 $324,333,367
1988 $4,255,683,528 $301,985,618
1987 $3,971,044,724 $265,212,957
1986 $3,723,993,943 $221,147,061
1985 $3,282,449,236 $179,691,483
1984 $4,502,462,807 $160,992,921
1983 $5,673,248,726 $156,098,237
1982 $5,419,411,765 $157,211,790
1981 $5,624,515,873 $163,750,728
1980 $4,448,087,302 $156,783,830
1979 $3,416,777,778 $127,261,099
1978 $2,559,857,143 $85,552,366
1977 $2,092,158,730 $64,526,401
1976 $1,698,960,317 $49,278,982
1975 $1,511,420,635 $47,803,146
1974 $1,333,475,397 $43,134,496
1973 $995,531,746 $36,896,280
1972 $769,039,683 $30,645,123
1971 $664,571,429 $21,965,951
1970 $594,611,111 $18,432,032
1969 $556,293,651 $16,452,028
1968 $517,650,794 $16,074,028
1967 $492,674,603 $16,632,032
1966 $465,888,889 $16,443,034
1965 $443,587,302 $15,603,032
1964 $408,349,206 $15,393,032
1963 $383,904,762 $13,923,029
1962 $360,698,413 $12,642,026
1961 $322,053,713 $11,592,024
1960 $288,884,368 $12,012,025

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

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

GDP per capita in Paraguay vs Seychelles by year

Paraguay
GDP per capita

GDP per capita, PPP
Seychelles
GDP per capita

GDP per capita, PPP
1x
Year Current $
Paraguay Seychelles
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $6,416 $18,524 $17,859 $33,239
2023 $6,300 $17,564 $18,263 $31,781
2022 $6,206 $16,347 $16,837 $29,973
2021 $5,977 $15,406 $14,983 $29,980
2020 $5,365 $14,309 $14,041 $31,056
2019 $5,821 $14,150 $19,142 $34,219
2018 $6,258 $14,139 $18,440 $32,091
2017 $6,152 $13,977 $17,480 $30,675
2016 $5,775 $13,329 $16,567 $28,811
2015 $5,879 $12,679 $15,333 $25,435
2014 $6,652 $12,607 $15,188 $24,985
2013 $6,436 $12,137 $14,821 $22,487
2012 $5,642 $10,954 $12,337 $22,264
2011 $5,805 $11,442 $12,110 $21,781
2010 $4,751 $10,893 $10,935 $18,982
2009 $3,942 $9,802 $9,747 $18,453
2008 $4,385 $9,867 $11,265 $18,881
2007 $3,212 $9,179 $12,669 $19,473
2006 $2,439 $8,561 $12,783 $17,503
2005 $1,971 $8,007 $11,802 $15,846
2004 $1,786 $7,686 $10,828 $14,160
2003 $1,444 $7,276 $9,070 $14,142
2002 $1,368 $6,924 $8,864 $14,570
2001 $1,638 $6,916 $8,153 $14,615
2000 $1,736 $6,937 $8,064 $14,638
1999 $1,766 $7,080 $8,243 $13,853
1998 $1,890 $7,227 $8,210 $13,675
1997 $2,079 $7,299 $7,747 $13,458
1996 $2,088 $7,040 $7,004 $11,931
1995 $1,979 $6,966 $7,181 $10,809
1994 $1,760 $6,542 $6,975 $10,692
1993 $1,662 $6,234 $6,979 $11,020
1992 $1,683 $5,952 $6,520 $10,243
1991 $1,685 $5,873 $5,655 $9,387
1990 $1,440 $5,637 $5,642 $8,955
1989 $1,211 - $4,689 -
1988 $1,114 - $4,392 -
1987 $1,069 - $3,872 -
1986 $1,031 - $3,368 -
1985 $935 - $2,754 -
1984 $1,319 - $2,488 -
1983 $1,710 - $2,426 -
1982 $1,680 - $2,441 -
1981 $1,793 - $2,557 -
1980 $1,457 - $2,478 -
1979 $1,149 - $2,030 -
1978 $883 - $1,377 -
1977 $740 - $1,044 -
1976 $616 - $814 -
1975 $562 - $806 -
1974 $508 - $745 -
1973 $389 - $649 -
1972 $308 - $547 -
1971 $272.1 - $402 -
1970 $249 - $344 -
1969 $238.2 - $314 -
1968 $226.8 - $314 -
1967 $220.9 - $333 -
1966 $213.9 - $338 -
1965 $208.7 - $328 -
1964 $197 - $332 -
1963 $189.9 - $308 -
1962 $182.8 - $287 -
1961 $167.1 - $270.3 -
1960 $153.4 - $288.1 -

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

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

Paraguay's GDP per capita is $6,416, ranking 109/197, compared to $17,859 in the Seychelles, ranking 63/197. Adjusted for purchasing power (GDP per capita PPP), Paraguay ranks 102nd at $18,524, while the Seychelles ranks 67th at $33,239.

Economic indicators

Paraguay Seychelles
Gross domestic product
$44.5B
2024
$2.17B
2024
GDP rank
98/197
2024
178/197
2024
GDP growth
4.25%
2023-2024
3.47%
2023-2024
GDP per capita
$6,416
2024
$17,859
2024
GDP per capita rank
109/197
2024
63/197
2024
GDP per capita, PPP
$18,524
2024
$33,239
2024
GDP per capita PPP rank
102/197
2024
67/197
2024
Government debt
$19.9B
2024
$1.25B
2024
Debt-to-GDP ratio
44.8%
2024
57.6%
2024
Government debt per person
$2,872
2024
$10,288
2024
Government debt per person rank
103/185
2024
57/185
2024
Average annual personal income after taxes
$6,136
2026
$10,944
2026
Market capitalization of domestic companies
$313M
1999
$811M
2024
Income share by richest 10%
35%
2024
23.9%
2018
Income share by poorest 10%
2%
2024
2.6%
2018
Government expenditure, % of GDP
21%
2024
33.8%
2024
Consumer prices inflation
3.84%
2023-2024
0.31%
2023-2024
Central bank interest rate
6%
2024
1.75%
2024
Unemployment rate
5.69%
2024
2.59%
2024
Population
7120169
126311

Spending and national debt comparison by year

Paraguay
Spending

Debt
Seychelles
Spending

Debt
1x
Year % of GDP
Paraguay Seychelles
Government spending Government debt Government spending Government debt
2024 21% 44.8% 33.8% 57.6%
2023 21.5% 41.1% 32.9% 55.3%
2022 20.2% 40.5% 31.3% 60%
2021 20.4% 37.5% 38.8% 71%
2020 22.6% 36.9% 46.7% 77.4%
2019 20.1% 25.8% 31.7% 48.9%
2018 18.5% 22.3% 33% 51.3%
2017 18.1% 19.8% 34.3% 56.7%
2016 17.7% 19.4% 34.5% 62.8%
2015 18% 18.6% 31.5% 64.7%
2014 17.1% 15.6% 33.4% 70.4%
2013 17.1% 13.5% 37.8% 68.2%
2012 17.6% 12.3% 38.6% 80.1%
2011 14.7% 11.1% 36.4% 82.5%
2010 13.3% 13% 34.6% 82.2%
2009 14.3% 14.9% 32.1% 106.1%
2008 11.8% 16% 27% 192.1%
2007 13.1% 16.8% 41.9% 144%
2006 14.1% 21% 43.6% 135.1%
2005 14% 28.3% 39% 144.1%
2004 14% 36% 39.9% 163.2%
2003 14.6% 37.5% 44.6% 177%
2002 17.6% 50.5% 56.3% 195.9%
2001 19% 37.1% 46.8% 199.8%
2000 19.6% 33.6% 55.4% 177.8%
1999 19.2% 32% 56.1% 159.8%
1998 18% 22.1% 60.7% 161.2%
1997 18.1% 18% 54.7% 143%
1996 16.9% 16.8% 59.1% 146.7%
1995 15.7% 17.6% 53.1% 133.5%
1994 14.5% 18.7% 63.6% 123.5%
1993 12.9% 26.6% 60.4% 82.2%
1992 13% 34.4% 50.7% 79.9%
1991 11.4% 49.4% 52.1% 89.2%
1990 10.5% 67% 46.1% 80.4%
1989 11.8% 52.9% 51.7% 39.9%
1988 9.75% 58.9% 46.7% 41.3%
1987 10.1% 68.7% 49.7% 37%
1986 9.25% 57.1% 58% 31.5%
1985 11.4% 54.7% 53% 26.5%
1984 13% 31% 50.5% 15.3%
1983 13% 22.6% 47.9% 12.4%
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/seychelles | CC BY

In 2024, Paraguay's government spending was $9.33B, accounting for 21% of its GDP, while the Seychelles spent $732M, or 33.8% of GDP.

Debt-to-GDP ratio is 44.8% in Paraguay and 57.6% in the Seychelles, ranking 120/185 and 85/185, respectively.

Government deficit by year

Deficit/surplus
Paraguay

Seychelles
1x
Year Deficit/surplus, % of GDP
Paraguay Seychelles
2024 -2.12% -0.69%
2023 -3.81% -1.14%
2022 -2.64% -0.76%
2021 -3.39% -5.76%
2020 -5.72% -15.7%
2019 -2.44% 0.42%
2018 -1.01% -0.8%
2017 -0.44% -1.67%
2016 -0.37% 0.02%
2015 -0.44% 1.39%
2014 -0.27% 2.87%
2013 -1.16% 0.33%
2012 -0.58% 2.93%
2011 1.29% 3.36%
2010 1.54% 0.52%
2009 0.59% 4.84%
2008 2.29% 7.88%
2007 1.27% -9.93%
2006 0.91% -2.54%
2005 0.74% 0.42%
2004 1.33% 0.44%
2003 -0.07% 3.4%
2002 -1.89% -16.3%
2001 0.07% -8.93%
2000 -0.55% -14.7%
1999 2.67% -10.3%
1998 4.28% -16.7%
1997 3% -5.91%
1996 2.43% -9.69%
1995 2.78% -2.58%
1994 4.59% -6.95%
1993 4.27% -3.62%
1992 3.1% 6.44%
1991 3.41% 3.15%
1990 7.56% 11.9%
1989 5.48% 8.26%
1988 3.01% 11.8%
1987 2.68% 2.77%
1986 3.08% -10.1%
1985 0.85% -4.86%
1984 -0.42% -6.09%
1983 0.27% -3.13%
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/seychelles | 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 the Seychelles' deficit of $15M, or 0.69% of GDP.

Over the past 42 years, Paraguay recorded a fiscal deficit in 17 of those years, while the Seychelles ran a deficit in 23 years. On average, Paraguay posted an annual surplus equal to 0.86% of GDP, compared to deficit of 2.04% of GDP for the Seychelles.

Inflation comparison by year

Inflation
Paraguay

Seychelles
1x
Year Consumer prices inflation
Paraguay Seychelles
2024 3.84% 0.31%
2023 4.63% -1.04%
2022 9.77% 2.63%
2021 4.79% 9.77%
2020 1.77% 1.2%
2019 2.76% 1.81%
2018 3.98% 3.7%
2017 3.6% 2.86%
2016 4.09% -1.02%
2015 3.13% 4.04%
2014 5.03% 1.39%
2013 2.68% 4.34%
2012 3.68% 7.11%
2011 8.25% 2.56%
2010 4.65% -2.4%
2009 2.59% 31.8%
2008 10.2% 37%
2007 8.13% 5.32%
2006 9.59% -0.35%
2005 6.81% 0.91%
2004 4.32% 3.86%
2003 14.2% 3.3%
2002 10.5% 0.18%
2001 7.27% 5.97%
2000 8.98% 6.27%
1999 6.75% 6.35%
1998 11.6% 2.58%
1997 6.95% 0.62%

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

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

Over the past 28 years, Paraguay has recorded an average annual inflation rate of 6.23%, compared with 5.03% in the Seychelles. In 2024, inflation was 3.84% in Paraguay and 0.31% in the Seychelles.

Top exports between countries

Paraguay
Export category Export value
Animal & marine products $130K
Processed food, beverages & tobacco $2K
Seychelles
Export category Export value

Balance of trade

Paraguay Seychelles
Current account balance
-$1.53B
2024
-$176M
2024
Current account balance ranking
133/190
2024
97/190
2024
Current account balance, % of GDP
-3.44%
2024
-8.11%
2024
Goods imports
$15.8B
2024
$1.39B
2024
Goods exports
$14.9B
2024
$595M
2024
Service imports
$2.54B
2024
$1B
2024
Service exports
$2.65B
2024
$1.71B
2024
Imports of goods and services, % of GDP
39.6%
2024
103.2%
2024
Exports of goods and services, % of GDP
37.2%
2024
85.2%
2024

Economic freedom indices

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

Paraguay Seychelles
Economic freedom 66.4 66.5
Economic freedom ranking 61/197 60/197
Property rights 44.2 82.6
Government integrity 27.3 71.7
Judicial effectiveness 38.4 61.7
Tax burden 95.9 77.3
Government spending 86.9 68
Fiscal health 83 92.2
Business freedom 72 71.3
Labor freedom 44.1 52
Monetary freedom 76.5 79.8
Trade freedom 78.4 81.2
Investment freedom 80 30
Financial freedom 70 30

Economic freedom comparison by year

Paraguay
Seychelles
1x
Year Economic freedom index
Paraguay Seychelles
2026 66.4 66.5
2025 65.2 66.4
2024 60.1 60.4
2023 61 59.5
2022 62.9 61.1
2021 62.6 66.3
2020 63 64.3
2019 61.8 61.4
2018 62.1 61.6
2017 62.4 61.8
2016 61.5 62.2
2015 61.1 57.5
2014 62 56.2
2013 61.1 54.9
2012 61.8 53
2011 62.3 51.2
2010 61.3 47.9
2009 61 47.8
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/seychelles | CC BY

The Economic Freedom Index for Paraguay is 66.4, ranking 61/197, compared to 66.5 for the Seychelles, ranking 60/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Paraguay Seychelles
Services, % of GDP
48.7%
2024
65.8%
2024
Industry, % of GDP
32.5%
2024
12.3%
2024
Agriculture, forestry, and fishing, % of GDP
10.7%
2024
2.45%
2024
GNI, Atlas method
$43.7B
2024
$2.12B
2024
GNI per capita, PPP
$17,930
2024
$32,180
2024
Total reserves including gold
$9.89B
2023
$774M
2024
Total reserves ranking
76/177
2023
145/177
2024
Net foreign direct investment
-$335M
2024
-$262M
2024
Net inflows of foreign direct investment
$1.1B
2024
$226M
2024
Net outflows of foreign direct investment
$166M
2024
-$35.4M
2024
Servicing debt to the IMF, % of GNI
4.58%
2024
n/a
Poverty at national poverty lines
20.1%
2024
25.3%
2018
Gross capital formation, % of GDP
22.8%
2024
17.2%
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/paraguay/seychelles | 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. 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)

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.