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Economy of Paraguay vs Suriname compared: GDP & Debt

Updated on by Georank team

Paraguay has a GDP of $44.5B compared to $4.71B for Suriname, ranking 98/197 and 164/197 by economy size, respectively.

Paraguay has $20.1B in government debt (43.9% of GDP), compared to $4.11B (86.6% of GDP) in Suriname.

The chart below compares the two countries' GDP growth in both current (nominal) and constant dollars, accounting for inflation over time.

Paraguay
GDP, current $

GDP, constant 2015 $
Suriname
GDP, current $

GDP, constant 2015 $
Year GDP
Paraguay Suriname
Current $ Constant $ Current $ Constant $
1960 $288,884,368 $2,840,643,135 $99,650,000 $1,039,858,389
1961 $322,053,713 $3,036,655,622 $107,700,000 $1,089,771,592
1962 $360,698,413 $3,136,873,108 $116,150,000 $1,132,272,684
1963 $383,904,762 $3,284,628,970 $125,950,000 $1,195,679,954
1964 $408,349,206 $3,422,993,222 $134,400,000 $1,273,399,151
1965 $443,587,302 $3,634,122,580 $154,150,000 $1,426,207,049
1966 $465,888,889 $3,706,496,252 $190,350,000 $1,700,038,803
1967 $492,674,603 $4,045,654,270 $220,700,000 $1,905,743,498
1968 $517,650,794 $4,228,804,026 $241,350,000 $2,050,580,004
1969 $556,293,651 $4,427,606,506 $259,650,000 $2,142,856,104
1970 $594,611,111 $4,673,490,345 $274,900,000 $2,200,713,219
1971 $664,571,429 $4,932,315,341 $301,000,000 $2,286,541,034
1972 $769,039,683 $5,259,391,844 $311,950,000 $2,272,821,788
1973 $995,531,746 $5,643,475,390 $339,450,000 $2,231,910,996
1974 $1,333,475,397 $6,116,484,716 $409,850,000 $2,240,838,640
1975 $1,511,420,635 $6,535,613,449 $465,500,000 $2,303,582,122
1976 $1,698,960,317 $7,027,480,419 $505,500,000 $2,506,297,349
1977 $2,092,158,730 $7,835,224,753 $641,500,000 $2,761,939,678
1978 $2,559,857,143 $8,777,702,779 $735,500,000 $2,944,227,697
1979 $3,416,777,778 $9,818,926,783 $782,500,000 $2,926,562,331
1980 $4,448,087,302 $10,968,933,818 $795,000,000 $2,669,024,846
1981 $5,624,515,873 $11,974,835,381 $889,000,000 $2,858,525,610
1982 $5,419,411,765 $11,807,472,960 $915,000,000 $2,738,467,534
1983 $5,673,248,726 $11,448,216,676 $883,500,000 $2,631,667,300
1984 $4,502,462,807 $11,770,667,083 $864,000,000 $2,581,665,621
1985 $3,282,449,236 $12,303,070,325 $873,000,000 $2,633,298,934
1986 $3,723,993,943 $12,913,897,549 $891,000,000 $2,654,365,325
1987 $3,971,044,724 $13,893,068,568 $980,000,000 $2,489,794,675
1988 $4,255,683,528 $14,714,895,265 $1,161,000,000 $2,683,998,660
1989 $4,757,732,200 $15,735,403,257 $542,600,000 $2,796,726,603
1990 $5,812,114,523 $16,384,218,445 $388,400,000 $2,670,873,906
1991 $6,984,367,763 $16,956,625,718 $448,100,000 $2,742,987,479
1992 $7,157,424,031 $17,244,282,667 $404,600,000 $2,753,959,429
1993 $7,249,533,620 $18,095,522,438 $428,764,706 $2,569,444,198
1994 $7,870,982,005 $19,057,827,421 $605,492,537 $2,656,805,273
1995 $9,062,131,475 $20,358,106,834 $691,590,498 $2,656,805,273
1996 $9,788,391,781 $20,678,499,693 $861,372,806 $2,683,373,358
1997 $9,965,225,678 $21,555,788,372 $926,422,500 $2,836,325,577
1998 $9,260,481,572 $21,570,454,447 $1,110,850,000 $2,901,561,112
1999 $8,837,070,236 $21,275,784,845 $886,290,698 $2,860,939,243
2000 $8,855,705,140 $20,783,433,276 $947,671,970 $2,921,018,935
2001 $8,495,806,432 $20,610,088,071 $834,279,358 $3,043,701,742
2002 $7,196,260,657 $20,605,676,606 $1,093,574,468 $3,128,925,412
2003 $7,691,367,471 $21,495,995,448 $1,274,190,311 $3,326,047,695
2004 $9,624,440,836 $22,368,177,915 $1,484,092,538 $3,608,761,755
2005 $10,737,500,188 $22,845,400,902 $1,793,410,397 $3,771,156,042
2006 $13,429,430,050 $23,943,606,097 $2,626,380,435 $3,989,639,611
2007 $17,856,393,235 $25,241,738,121 $2,936,612,022 $4,193,569,552
2008 $24,615,267,664 $26,881,515,166 $3,532,969,035 $4,367,326,198
2009 $22,355,151,162 $26,811,317,495 $3,875,409,836 $4,498,944,264
2010 $27,260,886,405 $29,786,095,177 $4,368,370,998 $4,731,486,826
2011 $33,756,238,767 $31,062,837,785 $4,422,276,622 $5,008,248,887
2012 $33,271,921,136 $30,842,899,501 $4,980,000,000 $5,142,988,298
2013 $38,501,122,141 $33,400,724,749 $5,145,757,576 $5,293,854,859
2014 $40,377,929,296 $35,171,376,859 $5,240,606,061 $5,307,380,819
2015 $36,211,447,840 $36,211,447,840 $5,126,237,646 $5,126,237,646
2016 $36,089,700,223 $37,756,961,788 $3,317,421,648 $4,874,454,256
2017 $38,997,129,474 $39,573,101,424 $3,591,679,431 $4,950,790,054
2018 $40,225,448,341 $40,841,122,661 $3,996,198,867 $5,195,768,566
2019 $37,925,338,329 $40,677,000,527 $4,016,040,575 $5,256,433,829
2020 $35,432,178,068 $40,343,536,419 $2,911,807,496 $4,416,708,447
2021 $39,950,899,939 $41,964,030,301 $3,107,923,198 $4,309,144,555
2022 $41,952,910,858 $42,037,903,095 $3,791,603,200 $4,412,832,155
2023 $43,118,053,175 $44,139,473,680 $3,455,146,281 $4,524,898,973
2024 $44,458,118,400 $46,015,383,701 $4,714,267,822 $4,653,387,372

Economic indicators

Paraguay Suriname
Gross domestic product
$44.5B
2024
$4.71B
2024
GDP rank
98/197
2024
164/197
2024
GDP growth
3.11%
2023-2024
36.4%
2023-2024
GDP per capita
$6,416
2024
$7,431
2024
GDP per capita rank
108/197
2024
101/197
2024
GDP per capita, PPP
$18,524
2024
$22,067
2024
Government debt
$20.1B
2024
$4.11B
2024
Debt-to-GDP ratio
43.9%
2025
86.6%
2025
Government debt per person
$2,903
2024
$6,481
2024
Government debt per person rank
104/185
2024
71/185
2024
Average annual personal income after taxes
$5,493
2025
$3,252
2025
Market capitalization of domestic companies
$313M
1999
n/a
Income share by richest 10%
35%
2024
30.1%
2022
Income share by poorest 10%
2%
2024
2.2%
2022
Government expenditure, % of GDP
20.6%
2025
29.2%
2025
Consumer prices inflation
3.84%
2023-2024
16.2%
2023-2024
Central bank interest rate
6%
2024
10%
2013
Unemployment rate
5.69%
2024
7.92%
2016
Population
7079103
644193

GDP per capita in Paraguay vs Suriname

Paraguay's GDP per capita is $6,416, ranking 108/197, compared to $7,431 in Suriname, ranking 101/197. Adjusted for purchasing power (GDP per capita PPP), Paraguay ranks 100th at $18,524, while Suriname ranks 87th at $22,067.

Paraguay
GDP per capita

GDP per capita, PPP
Suriname
GDP per capita

GDP per capita, PPP
Year Current $
Paraguay Suriname
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
1960 $153.4 - $378 -
1961 $167.1 - $395 -
1962 $182.8 - $409 -
1963 $189.9 - $424 -
1964 $197 - $435 -
1965 $208.7 - $482 -
1966 $213.9 - $575 -
1967 $220.9 - $644 -
1968 $226.8 - $681 -
1969 $238.2 - $708 -
1970 $249 - $724 -
1971 $272.1 - $768 -
1972 $308 - $785 -
1973 $389 - $858 -
1974 $508 - $1,041 -
1975 $562 - $1,190 -
1976 $616 - $1,302 -
1977 $740 - $1,666 -
1978 $883 - $1,928 -
1979 $1,149 - $2,072 -
1980 $1,457 - $2,118 -
1981 $1,793 - $2,368 -
1982 $1,680 - $2,430 -
1983 $1,710 - $2,333 -
1984 $1,319 - $2,261 -
1985 $935 - $2,256 -
1986 $1,031 - $2,271 -
1987 $1,069 - $2,469 -
1988 $1,114 - $2,886 -
1989 $1,211 - $1,329 -
1990 $1,440 $5,637 $942 $6,493
1991 $1,685 $5,873 $1,080 $6,852
1992 $1,683 $5,952 $969 $6,992
1993 $1,662 $6,234 $1,022 $6,650
1994 $1,760 $6,542 $1,434 $6,973
1995 $1,979 $6,966 $1,610 $7,000
1996 $2,088 $7,040 $1,963 $7,048
1997 $2,079 $7,299 $2,068 $7,422
1998 $1,890 $7,227 $2,429 $7,521
1999 $1,766 $7,080 $1,898 $7,367
2000 $1,736 $6,937 $1,988 $7,535
2001 $1,638 $6,916 $1,715 $7,865
2002 $1,368 $6,924 $2,202 $8,046
2003 $1,444 $7,276 $2,516 $8,552
2004 $1,786 $7,686 $2,888 $9,389
2005 $1,971 $8,007 $3,453 $10,014
2006 $2,439 $8,561 $5,003 $10,803
2007 $3,212 $9,179 $5,530 $11,530
2008 $4,385 $9,867 $6,576 $12,097
2009 $3,942 $9,802 $7,130 $12,393
2010 $4,751 $10,893 $7,944 $13,039
2011 $5,805 $11,442 $7,950 $13,926
2012 $5,642 $10,954 $8,851 $15,185
2013 $6,436 $12,137 $9,043 $16,173
2014 $6,652 $12,607 $9,108 $16,598
2015 $5,879 $12,679 $8,814 $16,544
2016 $5,775 $13,329 $5,644 $14,475
2017 $6,152 $13,977 $6,050 $17,568
2018 $6,258 $14,139 $6,666 $17,855
2019 $5,821 $14,150 $6,630 $19,772
2020 $5,365 $14,309 $4,755 $16,947
2021 $5,977 $15,406 $5,030 $18,458
2022 $6,206 $16,347 $6,084 $20,079
2023 $6,300 $17,564 $5,494 $21,136
2024 $6,416 $18,524 $7,431 $22,067

Spending and national debt comparison

In 2024, Paraguay's government spending was $9.43B, accounting for 20.6% of its GDP, while Suriname's spent $1.38B, or 29.2% of GDP.

Debt-to-GDP ratio is 43.9% in Paraguay and 86.6% in Suriname, ranking 121/185 and 37/185, respectively.

Paraguay
Government spending

Government debt
Suriname
Government spending

Government debt
Year % of GDP
Paraguay Suriname
Government spending Government debt Government spending Government debt
1967 12.2% - - -
1968 13.5% - - -
1969 14% - - -
1970 13.3% 19.2% - -
1971 12.3% 18.9% - -
1972 12.5% 18.2% - -
1973 11.2% 15.4% - -
1974 9.44% 12.5% - -
1975 10.5% 12.6% - -
1976 9.8% 14.1% - -
1977 11.2% 18.8% - -
1978 11.9% 20.9% - -
1979 11.7% 19.7% - -
1980 11.6% 17.4% - -
1981 13.3% 17.4% - -
1982 13.2% 21.3% - -
1983 13% 22.6% - -
1984 13% 31% - -
1985 11.4% 54.7% - -
1986 9.25% 57.1% - -
1987 10.1% 68.7% - -
1988 9.75% 58.9% - -
1989 11.8% 52.9% - -
1990 10.5% 67% 22.7% 72.9%
1991 11.4% 49.4% 26.6% 75.7%
1992 13% 34.4% 24.4% 64.4%
1993 12.9% 26.6% 21.2% 51.1%
1994 14.5% 18.7% 19.8% 30.5%
1995 15.7% 17.6% 20.2% 16.3%
1996 16.9% 16.8% 21.4% 11.8%
1997 18.1% 18% 21.1% 16.8%
1998 18% 22.1% 30.3% 21.6%
1999 19.2% 32% 19.6% 32.3%
2000 19.6% 33.6% 24.4% 48.4%
2001 19% 37.1% 21.8% 37.2%
2002 17.6% 50.5% 22.2% 37.4%
2003 15.8% 37.5% 19.2% 31.5%
2004 15.4% 36% 20.8% 29.4%
2005 14.6% 28.3% 22.2% 27.1%
2006 14.8% 21% 22.2% 22.5%
2007 13.7% 16.8% 22.6% 16.4%
2008 12.5% 16% 20.5% 14.8%
2009 15.2% 14.9% 24% 14.6%
2010 14.7% 13% 21% 17.3%
2011 15.6% 11.1% 21% 18.7%
2012 18.5% 12.3% 26.7% 20.1%
2013 17.5% 13.5% 26.9% 27.9%
2014 17.1% 15.6% 27.2% 25.2%
2015 18% 18.6% 29.1% 41.2%
2016 17.7% 19.4% 27.1% 75.4%
2017 18.1% 19.8% 27.2% 73%
2018 18.5% 22.3% 26.2% 68.6%
2019 20.2% 25.8% 40.5% 84%
2020 22.6% 36.9% 30.2% 146.4%
2021 20.4% 37.5% 32.1% 115.8%
2022 20.2% 40.5% 29.5% 116.9%
2023 21.5% 41.1% 29% 98.2%
2024 21.2% 45.2% 29.2% 87.2%
2025 20.6% 43.9% 29.2% 86.6%

Government deficit by year

In 2024, Paraguay's government deficit, the difference between spending and revenue, was -$952M, equivalent to -2.14% of GDP. This compares to Suriname's deficit of -$115M, or -2.43% of GDP.

Over the past 35 years, Paraguay recorded a fiscal deficit in 16 of those years, while Suriname ran a deficit in 27 years. On average, Paraguay posted an annual surplus equal to +0.46% of GDP, compared to deficit of -3.34% of GDP for Suriname.

Deficit/surplus
Paraguay

Suriname
Year Deficit/surplus, % of GDP
Paraguay Suriname
1967 -1.7% -
1968 -2.34% -
1969 -1.62% -
1970 -1.26% -
1971 -1.25% -
1972 -2.51% -
1973 -0.91% -
1974 1.67% -
1975 -1.24% -
1976 -0.06% -
1977 -0.19% -
1978 -3.42% -
1979 4.13% -
1980 3.4% -
1981 0.15% -
1982 1.52% -
1983 0.27% -
1984 -0.42% -
1985 0.85% -
1986 3.08% -
1987 2.68% -
1988 3.01% -
1989 5.48% -
1990 7.56% -3.04%
1991 3.41% -9.8%
1992 3.1% -6.45%
1993 4.27% -4.68%
1994 4.59% -1.89%
1995 2.78% 1.17%
1996 2.43% 3.42%
1997 3% -0.32%
1998 4.28% -6.39%
1999 2.67% -4.92%
2000 -0.55% -7.76%
2001 0.07% 3.49%
2002 -1.89% -3.3%
2003 0.06% -0.11%
2004 0.77% -1.2%
2005 0.71% -3.39%
2006 1.43% 0.59%
2007 1.14% 5.01%
2008 1.79% 2.39%
2009 -0.83% 2.03%
2010 0.07% -0.15%
2011 0.98% 2.32%
2012 -1.58% -1.97%
2013 -1.32% -3.33%
2014 -0.27% -4.69%
2015 -0.44% -7.55%
2016 -0.37% -9.34%
2017 -0.44% -7.08%
2018 -1.01% -5.25%
2019 -2.5% -20.2%
2020 -5.72% -12%
2021 -3.39% -5.69%
2022 -2.64% -2.69%
2023 -3.81% -1.68%
2024 -2.14% -2.43%
2025 -1.62% -1.18%

Inflation comparison by year

Over the past 29 years, Paraguay has recorded an average annual inflation rate of 6.35%, compared with 23.9% in Suriname. In 2024, inflation was 3.84% in Paraguay and 16.2% in Suriname.

Inflation
Paraguay

Suriname
Year Inflation
Paraguay Suriname Paraguay Suriname
1996 9.8% -0.7%
1997 6.95% 7.15%
1998 11.6% 19%
1999 6.75% 98.8%
2000 8.98% 59.4%
2001 7.27% 38.6%
2002 10.5% 15.5%
2003 14.2% 23%
2004 4.32% 9.99%
2005 6.81% 9.9%
2006 9.59% 11.3%
2007 8.13% 6.43%
2008 10.2% 14.7%
2009 2.59% -0.13%
2010 4.65% 6.94%
2011 8.25% 17.7%
2012 3.68% 5.01%
2013 2.68% 1.92%
2014 5.03% 3.38%
2015 3.13% 6.89%
2016 4.09% 55.4%
2017 3.6% 22%
2018 3.98% -
2019 2.76% -
2020 1.77% 34.9%
2021 4.79% 59.1%
2022 9.77% 52.4%
2023 4.63% 51.6%
2024 3.84% 16.2%

Top exports between countries

Paraguay
Export category Export value
Processed food, beverages & tobacco $6.75M
Textiles & consumer goods $50K
Machinery & equipment $15K
Suriname
Export category Export value
Processed food, beverages & tobacco $7.41M

Balance of trade

Paraguay Suriname
Current account balance
-$1.74B
2024
$9.31M
2024
Current account balance ranking
138/189
2024
72/189
2024
Current account balance, % of GDP
-3.92%
2024
+0.2%
2024
Goods imports
$15.8B
2024
$1.65B
2024
Goods exports
$14.7B
2024
$2.58B
2024
Service imports
$2.54B
2024
$921M
2024
Service exports
$2.65B
2024
$211M
2024
Imports of goods and services, % of GDP
39.6%
2024
38.4%
2010
Exports of goods and services, % of GDP
37.2%
2024
52.5%
2010

Economic freedom indices

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

Paraguay Suriname
Economic freedom 65.2 50.9
Economic freedom ranking 66/197 161/197
Property rights 45 42.1
Government integrity 27.7 39.7
Judicial effectiveness 37.3 43.1
Tax burden 97 69.1
Government spending 87.1 74
Fiscal health 79.3 66.1
Business freedom 73.2 57.6
Labor freedom 48.2 69
Monetary freedom 74.6 44.1
Trade freedom 78.2 65.4
Investment freedom 75 20
Financial freedom 60 20

Economic freedom by year comparison

The Economic Freedom Index for Paraguay is 65.2, ranking 66/197, compared to 50.9 for Suriname, ranking 161/197. The chart below displays a comparison of annual changes in economic freedom indexes.

Paraguay
Suriname
Year Economic freedom index
Paraguay Suriname
1995 65.9 -
1996 67.1 36.7
1997 67.3 35.9
1998 65.2 39.9
1999 63.7 40.1
2000 64 45.8
2001 60.3 44.3
2002 59.6 48
2003 58.2 46.9
2004 56.7 47.9
2005 53.4 51.9
2006 55.6 55.1
2007 58.3 54.8
2008 60 54.3
2009 61 54.1
2010 61.3 52.5
2011 62.3 53.1
2012 61.8 52.6
2013 61.1 52
2014 62 54.2
2015 61.1 54.2
2016 61.5 53.8
2017 62.4 48
2018 62.1 48.1
2019 61.8 48.1
2020 63 49.5
2021 62.6 46.4
2022 62.9 48.1
2023 61 46.1
2024 60.1 46.7
2025 65.2 50.9

More economic indicators

Paraguay Suriname
Services, % of GDP
48.7%
2024
48.3%
2023
Industry, % of GDP
32.5%
2024
39.9%
2023
Agriculture, forestry, and fishing, % of GDP
10.7%
2024
7.47%
2023
GNI, Atlas method
$43.6B
2024
$3.72B
2024
GNI per capita, PPP
$17,900
2024
$20,350
2024
Total reserves including gold
$9.89B
2023
$1.63B
2024
Total reserves ranking
76/177
2023
132/177
2024
Net foreign direct investment
-$335M
2024
$26.5M
2024
Net inflows of foreign direct investment
$400M
2024
-$37.6M
2024
Net outflows of foreign direct investment
$64.8M
2024
-$11.1M
2024
Servicing debt to the IMF, % of GNI
4.36%
2023
20.6%
2023
Poverty at national poverty lines
20.1%
2024
70%
2020
Gross capital formation, % of GDP
22.8%
2024
36.2%
2010

GDP per capita map

GDP per capita

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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.