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Economy of Paraguay vs Tanzania compared: GDP & Debt

Updated on by Georank team

Paraguay has a GDP of $44.5B compared to $78.8B for Tanzania, ranking 98/197 and 82/197 by economy size, respectively.

Paraguay has $19.9B in government debt (44.8% of GDP), compared to $39.3B (49.9% of GDP) in Tanzania.

Paraguay vs Tanzania GDP by year

Paraguay
Tanzania
1x
Year GDP, current $
Paraguay Tanzania
2024 $44,458,118,397 $78,844,405,385
2023 $43,118,053,175 $79,030,935,627
2022 $41,952,910,858 $75,749,121,843
2021 $39,950,899,939 $70,655,628,148
2020 $35,432,178,068 $66,068,737,786
2019 $37,925,338,329 $61,026,731,926
2018 $40,225,448,341 $57,003,712,892
2017 $38,997,129,474 $53,274,884,533
2016 $36,089,700,223 $49,774,409,374
2015 $36,211,447,840 $47,413,919,817
2014 $40,377,929,296 $49,986,726,461
2013 $38,501,122,141 $45,648,857,242
2012 $33,271,921,136 $39,650,394,363
2011 $33,756,238,766 $34,657,140,096
2010 $27,260,886,405 $32,012,892,919
2009 $22,355,151,162 $29,400,573,554
2008 $24,615,267,664 $27,947,821,398
2007 $17,856,393,235 $21,860,434,823
2006 $13,429,430,050 $18,619,859,795
2005 $10,737,500,188 $18,395,383,647
2004 $9,624,440,836 $16,673,062,473
2003 $7,691,367,471 $15,211,487,709
2002 $7,196,260,657 $14,129,651,896
2001 $8,495,806,432 $13,563,990,022
2000 $8,855,705,140 $13,371,767,082
1999 $8,837,070,236 $12,704,334,196
1998 $9,260,481,572 $12,172,790,056
1997 $9,965,225,678 $11,158,197,942
1996 $9,788,391,781 $9,433,528,150
1995 $9,062,131,475 $7,631,431,840
1994 $7,870,982,005 $6,550,480,484
1993 $7,249,533,620 $6,182,872,708
1992 $7,157,424,031 $6,681,997,469
1991 $6,984,367,763 $7,197,768,159
1990 $5,812,114,523 $6,184,384,225
1989 $4,757,732,200 $6,418,799,007
1988 $4,255,683,528 $7,406,614,407
1987 $3,971,044,724 $7,824,193,222
1986 $3,723,993,943 $10,840,864,521
1985 $3,282,449,236 $15,328,295,175
1984 $4,502,462,807 $12,906,635,133
1983 $5,673,248,726 $14,049,883,809
1982 $5,419,411,765 $13,927,383,240
1981 $5,624,515,873 $13,161,540,378
1980 $4,448,087,302 $11,409,228,087
1979 $3,416,777,778 $9,804,637,491
1978 $2,559,857,143 $9,261,675,710
1977 $2,092,158,730 $7,732,598,995
1976 $1,698,960,317 $6,472,511,988
1975 $1,511,420,635 $5,729,917,840
1974 $1,333,475,397 $4,977,337,978
1973 $995,531,746 $4,144,104,535
1972 $769,039,683 $3,472,787,266
1971 $664,571,429 $3,050,673,517
1970 $594,611,111 $2,851,419,386
1969 $556,293,651 $5,142,066,811
1968 $517,650,794 $4,895,251,824
1967 $492,674,603 $4,565,132,048
1966 $465,888,889 $4,377,998,825
1965 $443,587,302 $3,817,226,546
1964 $408,349,206 $3,748,840,925
1963 $383,904,762 $3,456,579,293
1962 $360,698,413 $3,101,589,993
1961 $322,053,713 $2,826,179,031
1960 $288,884,368 $2,651,729,807

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

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

GDP per capita in Paraguay vs Tanzania by year

Paraguay
GDP per capita

GDP per capita, PPP
Tanzania
GDP per capita

GDP per capita, PPP
1x
Year Current $
Paraguay Tanzania
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $6,416 $18,524 $1,150 $4,221
2023 $6,300 $17,564 $1,186 $4,019
2022 $6,206 $16,347 $1,171 $3,800
2021 $5,977 $15,406 $1,125 $3,493
2020 $5,365 $14,309 $1,084 $3,291
2019 $5,821 $14,150 $1,031 $2,982
2018 $6,258 $14,139 $992 $2,728
2017 $6,152 $13,977 $957 $2,472
2016 $5,775 $13,329 $925 $2,435
2015 $5,879 $12,679 $911 $2,317
2014 $6,652 $12,607 $993 $2,221
2013 $6,436 $12,137 $935 $2,176
2012 $5,642 $10,954 $837 $2,083
2011 $5,805 $11,442 $753 $2,211
2010 $4,751 $10,893 $715 $2,069
2009 $3,942 $9,802 $674 $1,972
2008 $4,385 $9,867 $657 $1,908
2007 $3,212 $9,179 $528 $1,820
2006 $2,439 $8,561 $462 $1,707
2005 $1,971 $8,007 $469 $1,598
2004 $1,786 $7,686 $438 $1,482
2003 $1,444 $7,276 $410 $1,379
2002 $1,368 $6,924 $391 $1,302
2001 $1,638 $6,916 $385 $1,229
2000 $1,736 $6,937 $390 $1,164
1999 $1,766 $7,080 $382 $1,120
1998 $1,890 $7,227 $375 $1,082
1997 $2,079 $7,299 $353 $1,059
1996 $2,088 $7,040 $305 $1,026
1995 $1,979 $6,966 $251.2 $981
1994 $1,760 $6,542 $222.5 $958
1993 $1,662 $6,234 $218.2 $959
1992 $1,683 $5,952 $243.4 $955
1991 $1,685 $5,873 $268.8 $952
1990 $1,440 $5,637 $236.9 $925
1989 $1,211 - $252.3 -
1988 $1,114 - $299 -
1987 $1,069 - $326 -
1986 $1,031 - $466 -
1985 $935 - $681 -
1984 $1,319 - $593 -
1983 $1,710 - $667 -
1982 $1,680 - $683 -
1981 $1,793 - $665 -
1980 $1,457 - $595 -
1979 $1,149 - $527 -
1978 $883 - $515 -
1977 $740 - $446 -
1976 $616 - $387 -
1975 $562 - $355 -
1974 $508 - $320 -
1973 $389 - $276.1 -
1972 $308 - $239.8 -
1971 $272.1 - $218.4 -
1970 $249 - $211.3 -
1969 $238.2 - $394 -
1968 $226.8 - $388 -
1967 $220.9 - $374 -
1966 $213.9 - $370 -
1965 $208.7 - $333 -
1964 $197 - $337 -
1963 $189.9 - $320 -
1962 $182.8 - $295.7 -
1961 $167.1 - $277.4 -
1960 $153.4 - $267.8 -

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

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

Paraguay's GDP per capita is $6,416, ranking 109/197, compared to $1,150 in Tanzania, ranking 170/197. Adjusted for purchasing power (GDP per capita PPP), Paraguay ranks 102nd at $18,524, while Tanzania ranks 165th at $4,221.

Economic indicators

Paraguay Tanzania
Gross domestic product
$44.5B
2024
$78.8B
2024
GDP rank
98/197
2024
82/197
2024
GDP growth
4.25%
2023-2024
5.53%
2023-2024
GDP per capita
$6,416
2024
$1,150
2024
GDP per capita rank
109/197
2024
170/197
2024
GDP per capita, PPP
$18,524
2024
$4,221
2024
GDP per capita PPP rank
102/197
2024
165/197
2024
Government debt
$19.9B
2024
$39.3B
2024
Debt-to-GDP ratio
44.8%
2024
49.9%
2024
Government debt per person
$2,872
2024
$573
2024
Government debt per person rank
103/185
2024
160/185
2024
Average annual personal income after taxes
$6,136
2026
$2,309
2026
Market capitalization of domestic companies
$313M
1999
$7.32B
2024
Number of billionaires n/a
1
2025
Income share by richest 10%
35%
2024
33.1%
2018
Income share by poorest 10%
2%
2024
2.9%
2018
Government expenditure, % of GDP
21%
2024
19.1%
2024
Consumer prices inflation
3.84%
2023-2024
3.06%
2023-2024
Central bank interest rate
6%
2024
6%
2024
Unemployment rate
5.69%
2024
2.43%
2024
Population
7120169
73145892

Spending and national debt comparison by year

Paraguay
Spending

Debt
Tanzania
Spending

Debt
1x
Year % of GDP
Paraguay Tanzania
Government spending Government debt Government spending Government debt
2024 21% 44.8% 19.1% 49.9%
2023 21.5% 41.1% 19% 47.8%
2022 20.2% 40.5% 19.1% 44.9%
2021 20.4% 37.5% 18.4% 43.4%
2020 22.6% 36.9% 17.4% 41.3%
2019 20.1% 25.8% 17.3% 40.4%
2018 18.5% 22.3% 17.3% 42%
2017 18.1% 19.8% 16.4% 40.1%
2016 17.7% 19.4% 16.9% 39.8%
2015 18% 18.6% 17.2% 39.5%
2014 17.1% 15.6% 17.3% 36.4%
2013 17.1% 13.5% 18.8% 32.7%
2012 17.6% 12.3% 19.6% 30%
2011 14.7% 11.1% 19% 28.4%
2010 13.3% 13% 19.8% 27.6%
2009 14.3% 14.9% 19.6% 23.9%
2008 11.8% 16% 18.1% 21.6%
2007 13.1% 16.8% 17.8% 23.8%
2006 14.1% 21% 17.6% 17.4%
2005 14% 28.3% 18.3% 25.4%
2004 14% 36% 17% 44.5%
2003 14.6% 37.5% 15.4% 44.4%
2002 17.6% 50.5% 13.6% 47.4%
2001 19% 37.1% 12.4% 50.8%
2000 19.6% 33.6% 12.3% 55.4%
1999 19.2% 32% 12.8% 62.9%
1998 18% 22.1% 11.4% 62.2%
1997 18.1% 18% 12.8% 73.4%
1996 16.9% 16.8% 13.4% 89.6%
1995 15.7% 17.6% 15.6% 111.1%
1994 14.5% 18.7% 16.8% 126%
1993 12.9% 26.6% 16.4% 129.2%
1992 13% 34.4% 17.6% 117.6%
1991 11.4% 49.4% 14.2% 106.5%
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 (1967–2000, retrieved 2026-02-20).

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

In 2024, Paraguay's government spending was $9.33B, accounting for 21% of its GDP, while Tanzania spent $15.1B, or 19.1% of GDP.

Debt-to-GDP ratio is 44.8% in Paraguay and 49.9% in Tanzania, ranking 120/185 and 109/185, respectively.

Government deficit by year

Deficit/surplus
Paraguay

Tanzania
1x
Year Deficit/surplus, % of GDP
Paraguay Tanzania
2024 -2.12% -3.03%
2023 -3.81% -3.67%
2022 -2.64% -3.92%
2021 -3.39% -3.55%
2020 -5.72% -2.56%
2019 -2.44% -2.06%
2018 -1.01% -2.01%
2017 -0.44% -1.14%
2016 -0.37% -2.08%
2015 -0.44% -3.17%
2014 -0.27% -2.91%
2013 -1.16% -3.76%
2012 -0.58% -4%
2011 1.29% -3.51%
2010 1.54% -4.74%
2009 0.59% -4.46%
2008 2.29% -1.92%
2007 1.27% -1.44%
2006 0.91% -3.38%
2005 0.74% -3.28%
2004 1.33% -2.43%
2003 -0.07% -1.77%
2002 -1.89% -0.73%
2001 0.07% -0.41%
2000 -0.55% -0.73%
1999 2.67% -1.14%
1998 4.28% 0.13%
1997 3% -0.03%
1996 2.43% 1.57%
1995 2.78% -2.12%
1994 4.59% -3.74%
1993 4.27% -2.02%
1992 3.1% -4.96%
1991 3.41% 0.6%
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/paraguay/tanzania | 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 Tanzania's deficit of $2.39B, or 3.03% of GDP.

Over the past 34 years, Paraguay recorded a fiscal deficit in 16 of those years, while Tanzania ran a deficit in 31 years. On average, Paraguay posted an annual surplus equal to 0.4% of GDP, compared to deficit of 2.3% of GDP for Tanzania.

Inflation comparison by year

Inflation
Paraguay

Tanzania
1x
Year Consumer prices inflation
Paraguay Tanzania
2024 3.84% 3.06%
2023 4.63% 3.8%
2022 9.77% 4.35%
2021 4.79% 3.69%
2020 1.77% 3.29%
2019 2.76% 3.46%
2018 3.98% 3.49%
2017 3.6% 5.32%
2016 4.09% 5.17%
2015 3.13% 5.59%
2014 5.03% 6.13%
2013 2.68% 7.87%
2012 3.68% 16%
2011 8.25% 12.7%
2010 4.65% 6.2%
2009 2.59% 12.1%
2008 10.2% 10.3%
2007 8.13% 7.03%
2006 9.59% 7.25%
2005 6.81% 5.03%
2004 4.32% 4.74%
2003 14.2% 5.3%
2002 10.5% 5.32%
2001 7.27% 5.15%
2000 8.98% 5.92%
1999 6.75% 7.89%
1998 11.6% 12.8%
1997 6.95% 16.1%

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

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

Over the past 28 years, Paraguay has recorded an average annual inflation rate of 6.23%, compared with 6.97% in Tanzania. In 2024, inflation was 3.84% in Paraguay and 3.06% in Tanzania.

Top exports between countries

Paraguay
Export category Export value
Animal & marine products $61K
Machinery & equipment $46K
Tanzania
Export category Export value
Processed food, beverages & tobacco $1.95M

Balance of trade

Paraguay Tanzania
Current account balance
-$1.53B
2024
-$2.38B
2024
Current account balance ranking
133/190
2024
147/190
2024
Current account balance, % of GDP
-3.44%
2024
-3.02%
2024
Goods imports
$15.8B
2024
$14.2B
2024
Goods exports
$14.9B
2024
$9.12B
2024
Service imports
$2.54B
2024
$2.8B
2024
Service exports
$2.65B
2024
$6.85B
2024
Imports of goods and services, % of GDP
39.6%
2024
21.7%
2024
Exports of goods and services, % of GDP
37.2%
2024
19.8%
2024

Economic freedom indices

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

Paraguay Tanzania
Economic freedom 66.4 59
Economic freedom ranking 61/197 106/197
Property rights 44.2 45.2
Government integrity 27.3 40.9
Judicial effectiveness 38.4 29.6
Tax burden 95.9 80.4
Government spending 86.9 89.1
Fiscal health 83 75
Business freedom 72 48.1
Labor freedom 44.1 62.3
Monetary freedom 76.5 73.4
Trade freedom 78.4 58.8
Investment freedom 80 55
Financial freedom 70 50

Economic freedom comparison by year

Paraguay
Tanzania
1x
Year Economic freedom index
Paraguay Tanzania
2026 66.4 59
2025 65.2 59.3
2024 60.1 59.1
2023 61 60
2022 62.9 59.5
2021 62.6 61.3
2020 63 61.7
2019 61.8 60.2
2018 62.1 59.9
2017 62.4 58.6
2016 61.5 58.5
2015 61.1 57.5
2014 62 57.8
2013 61.1 57.9
2012 61.8 57
2011 62.3 57
2010 61.3 58.3
2009 61 58.3
2008 60 56.5
2007 58.3 56.8
2006 55.6 58.5
2005 53.4 56.3
2004 56.7 60.1
2003 58.2 56.9
2002 59.6 58.3
2001 60.3 54.9
2000 64 56
1999 63.7 60
1998 65.2 59.6
1997 67.3 59.3
1996 67.1 57.5
1995 65.9 57.3

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

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

The Economic Freedom Index for Paraguay is 66.4, ranking 61/197, compared to 59 for Tanzania, ranking 106/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Paraguay Tanzania
Services, % of GDP
48.7%
2024
29.6%
2024
Industry, % of GDP
32.5%
2024
28.6%
2024
Agriculture, forestry, and fishing, % of GDP
10.7%
2024
23.3%
2024
GNI, Atlas method
$43.7B
2024
$80.2B
2024
GNI per capita, PPP
$17,930
2024
$4,130
2024
Total reserves including gold
$9.89B
2023
$5.05B
2018
Total reserves ranking
76/177
2023
101/177
2018
Net foreign direct investment
-$335M
2024
-$1.72B
2024
Net inflows of foreign direct investment
$1.1B
2024
$1.72B
2024
Net outflows of foreign direct investment
$166M
2024
$0
2024
Servicing debt to the IMF, % of GNI
4.58%
2024
2.57%
2024
Poverty at national poverty lines
20.1%
2024
26.4%
2018
Gross capital formation, % of GDP
22.8%
2024
39.8%
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/paraguay/tanzania | 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 (1967–2000, 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 (2021–2024, 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.