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Economy of Paraguay vs Vanuatu compared: GDP & Debt

Updated on by Georank team

Paraguay has a GDP of $44.5B compared to $1.12B for Vanuatu, ranking 98/197 and 188/197 by economy size, respectively.

Paraguay has $19.9B in government debt (44.8% of GDP), compared to $507M (45.3% of GDP) in Vanuatu.

Paraguay vs Vanuatu GDP by year

Paraguay
Vanuatu
1x
Year GDP, current $
Paraguay Vanuatu
2024 $44,458,118,397 $1,117,972,034
2023 $43,118,053,175 $1,115,861,056
2022 $41,952,910,858 $1,055,031,361
2021 $39,950,899,939 $950,394,007
2020 $35,432,178,068 $909,421,044
2019 $37,925,338,329 $936,526,268
2018 $40,225,448,341 $914,727,908
2017 $38,997,129,474 $880,043,284
2016 $36,089,700,223 $804,323,577
2015 $36,211,447,840 $759,690,181
2014 $40,377,929,296 $773,717,011
2013 $38,501,122,141 $758,304,466
2012 $33,271,921,136 $747,839,698
2011 $33,756,238,766 $770,153,588
2010 $27,260,886,405 $670,712,980
2009 $22,355,151,162 $592,622,319
2008 $24,615,267,664 $590,748,429
2007 $17,856,393,235 $516,392,923
2006 $13,429,430,050 $439,358,587
2005 $10,737,500,188 $394,962,433
2004 $9,624,440,836 $364,996,869
2003 $7,691,367,471 $314,471,413
2002 $7,196,260,657 $262,596,536
2001 $8,495,806,432 $257,926,882
2000 $8,855,705,140 $272,014,628
1999 $8,837,070,236 $268,006,973
1998 $9,260,481,572 $262,293,411
1997 $9,965,225,678 $272,771,209
1996 $9,788,391,781 $261,370,044
1995 $9,062,131,475 $249,333,250
1994 $7,870,982,005 $233,701,301
1993 $7,249,533,620 $200,491,853
1992 $7,157,424,031 $209,088,825
1991 $6,984,367,763 $201,334,169
1990 $5,812,114,523 $168,879,207
1989 $4,757,732,200 $154,013,202
1988 $4,255,683,528 $158,351,368
1987 $3,971,044,724 $139,464,174
1986 $3,723,993,943 $126,498,935
1985 $3,282,449,236 $131,856,421
1984 $4,502,462,807 $144,482,515
1983 $5,673,248,726 $117,389,554
1982 $5,419,411,765 $114,501,913
1981 $5,624,515,873 $113,781,796
1980 $4,448,087,302 $121,185,498
1979 $3,416,777,778 $119,258,835
1978 $2,559,857,143 -
1977 $2,092,158,730 -
1976 $1,698,960,317 -
1975 $1,511,420,635 -
1974 $1,333,475,397 -
1973 $995,531,746 -
1972 $769,039,683 -
1971 $664,571,429 -
1970 $594,611,111 -
1969 $556,293,651 -
1968 $517,650,794 -
1967 $492,674,603 -
1966 $465,888,889 -
1965 $443,587,302 -
1964 $408,349,206 -
1963 $383,904,762 -
1962 $360,698,413 -
1961 $322,053,713 -
1960 $288,884,368 -

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

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

GDP per capita in Paraguay vs Vanuatu by year

Paraguay
GDP per capita

GDP per capita, PPP
Vanuatu
GDP per capita

GDP per capita, PPP
1x
Year Current $
Paraguay Vanuatu
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $6,416 $18,524 $3,411 $3,606
2023 $6,300 $17,564 $3,483 $3,568
2022 $6,206 $16,347 $3,370 $3,453
2021 $5,977 $15,406 $3,107 $3,136
2020 $5,365 $14,309 $3,043 $3,118
2019 $5,821 $14,150 $3,207 $3,315
2018 $6,258 $14,139 $3,207 $3,233
2017 $6,152 $13,977 $3,160 $3,146
2016 $5,775 $13,329 $2,956 $3,030
2015 $5,879 $12,679 $2,855 $2,966
2014 $6,652 $12,607 $2,973 $2,890
2013 $6,436 $12,137 $2,980 $2,832
2012 $5,642 $10,954 $3,005 $2,834
2011 $5,805 $11,442 $3,163 $2,816
2010 $4,751 $10,893 $2,815 $2,733
2009 $3,942 $9,802 $2,546 $2,730
2008 $4,385 $9,867 $2,604 $2,701
2007 $3,212 $9,179 $2,334 $2,573
2006 $2,439 $8,561 $2,035 $2,496
2005 $1,971 $8,007 $1,874 $2,287
2004 $1,786 $7,686 $1,774 $2,157
2003 $1,444 $7,276 $1,567 $2,070
2002 $1,368 $6,924 $1,341 $1,995
2001 $1,638 $6,916 $1,350 $2,125
2000 $1,736 $6,937 $1,460 $2,206
1999 $1,766 $7,080 $1,472 $2,084
1998 $1,890 $7,227 $1,471 $2,091
1997 $2,079 $7,299 $1,562 $2,087
1996 $2,088 $7,040 $1,529 $1,998
1995 $1,979 $6,966 $1,492 $1,961
1994 $1,760 $6,542 $1,431 $1,946
1993 $1,662 $6,234 $1,257 $1,789
1992 $1,683 $5,952 $1,344 $1,777
1991 $1,685 $5,873 $1,326 $1,737
1990 $1,440 $5,637 $1,141 $1,670
1989 $1,211 - $1,067 -
1988 $1,114 - $1,125 -
1987 $1,069 - $1,017 -
1986 $1,031 - $946 -
1985 $935 - $1,012 -
1984 $1,319 - $1,137 -
1983 $1,710 - $947 -
1982 $1,680 - $946 -
1981 $1,793 - $962 -
1980 $1,457 - $1,048 -
1979 $1,149 - $1,055 -
1978 $883 - - -
1977 $740 - - -
1976 $616 - - -
1975 $562 - - -
1974 $508 - - -
1973 $389 - - -
1972 $308 - - -
1971 $272.1 - - -
1970 $249 - - -
1969 $238.2 - - -
1968 $226.8 - - -
1967 $220.9 - - -
1966 $213.9 - - -
1965 $208.7 - - -
1964 $197 - - -
1963 $189.9 - - -
1962 $182.8 - - -
1961 $167.1 - - -
1960 $153.4 - - -

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

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

Paraguay's GDP per capita is $6,416, ranking 109/197, compared to $3,411 in Vanuatu, ranking 137/197. Adjusted for purchasing power (GDP per capita PPP), Paraguay ranks 102nd at $18,524, while Vanuatu ranks 170th at $3,606.

Economic indicators

Paraguay Vanuatu
Gross domestic product
$44.5B
2024
$1.12B
2024
GDP rank
98/197
2024
188/197
2024
GDP growth
4.25%
2023-2024
0.94%
2023-2024
GDP per capita
$6,416
2024
$3,411
2024
GDP per capita rank
109/197
2024
137/197
2024
GDP per capita, PPP
$18,524
2024
$3,606
2024
GDP per capita PPP rank
102/197
2024
170/197
2024
Government debt
$19.9B
2024
$507M
2024
Debt-to-GDP ratio
44.8%
2024
45.3%
2024
Government debt per person
$2,872
2024
$1,546
2024
Government debt per person rank
103/185
2024
131/185
2024
Average annual personal income after taxes
$6,136
2026
$3,164
2026
Market capitalization of domestic companies
$313M
1999
n/a
Income share by richest 10%
35%
2024
24.7%
2019
Income share by poorest 10%
2%
2024
3%
2019
Government expenditure, % of GDP
21%
2024
41.1%
2024
Consumer prices inflation
3.84%
2023-2024
11.2%
2022-2023
Central bank interest rate
6%
2024
n/a
Unemployment rate
5.69%
2024
4.05%
2020
Population
7120169
344750

Spending and national debt comparison by year

Paraguay
Spending

Debt
Vanuatu
Spending

Debt
1x
Year % of GDP
Paraguay Vanuatu
Government spending Government debt Government spending Government debt
2024 21% 44.8% 41.1% 45.3%
2023 21.5% 41.1% 41.6% 41.8%
2022 20.2% 40.5% 42% 42.8%
2021 20.4% 37.5% 44.4% 48.5%
2020 22.6% 36.9% 43.4% 48%
2019 20.1% 25.8% 39.8% 45.1%
2018 18.5% 22.3% 33.3% 45.3%
2017 18.1% 19.8% 37.1% 52.6%
2016 17.7% 19.4% 35.2% 42.5%
2015 18% 18.6% 42.4% 36.3%
2014 17.1% 15.6% 23.3% 20.2%
2013 17.1% 13.5% 22.9% 18.6%
2012 17.6% 12.3% 24.5% 19.3%
2011 14.7% 11.1% 25.1% 21.3%
2010 13.3% 13% 28.3% 20.2%
2009 14.3% 14.9% 27.6% 21.1%
2008 11.8% 16% 27.8% 21.2%
2007 13.1% 16.8% 22.5% 19.5%
2006 14.1% 21% 20.1% 22.2%
2005 14% 28.3% 18.3% 26.3%
2004 14% 36% 18.5% 30.4%
2003 14.6% 37.5% 18.8% 38.3%
2002 17.6% 50.5% 22.3% 38.8%
2001 19% 37.1% 22.3% 37%
2000 19.6% 33.6% 25.4% 36.1%
1999 19.2% 32% 23.9% 30.6%
1998 18% 22.1% 27.9% 28%
1997 18.1% 18% 22.2% 22.9%
1996 16.9% 16.8% 24.5% 23.1%
1995 15.7% 17.6% 28% 24.1%
1994 14.5% 18.7% 24.4% 21.6%
1993 12.9% 26.6% 26.2% 20.3%
1992 13% 34.4% 31.8% 21%
1991 11.4% 49.4% 33.2% 15.9%
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/paraguay/vanuatu | CC BY

In 2024, Paraguay's government spending was $9.33B, accounting for 21% of its GDP, while Vanuatu spent $459M, or 41.1% of GDP.

Debt-to-GDP ratio is 44.8% in Paraguay and 45.3% in Vanuatu, ranking 120/185 and 119/185, respectively.

Government deficit by year

Deficit/surplus
Paraguay

Vanuatu
1x
Year Deficit/surplus, % of GDP
Paraguay Vanuatu
2024 -2.12% -2.34%
2023 -3.81% -0.95%
2022 -2.64% -6.5%
2021 -3.39% 2.38%
2020 -5.72% -1.95%
2019 -2.44% 2.81%
2018 -1.01% 6.26%
2017 -0.44% -1.2%
2016 -0.37% -0.72%
2015 -0.44% -8.66%
2014 -0.27% 1.44%
2013 -1.16% -0.25%
2012 -0.58% -1.7%
2011 1.29% -2.19%
2010 1.54% -2.63%
2009 0.59% -0.85%
2008 2.29% -0.04%
2007 1.27% 0.28%
2006 0.91% 0.49%
2005 0.74% 1.86%
2004 1.33% 0.8%
2003 -0.07% -1.35%
2002 -1.89% -3.63%
2001 0.07% -3.33%
2000 -0.55% -6.28%
1999 2.67% -0.55%
1998 4.28% -6.65%
1997 3% -0.51%
1996 2.43% -1.78%
1995 2.78% -2.59%
1994 4.59% -1.49%
1993 4.27% -3.67%
1992 3.1% -2.32%
1991 3.41% -2.81%
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/vanuatu | 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 Vanuatu's deficit of $26.2M, or 2.34% of GDP.

Over the past 34 years, Paraguay recorded a fiscal deficit in 16 of those years, while Vanuatu ran a deficit in 26 years. On average, Paraguay posted an annual surplus equal to 0.4% of GDP, compared to deficit of 1.49% of GDP for Vanuatu.

Inflation comparison by year

Inflation
Paraguay

Vanuatu
1x
Year Consumer prices inflation
Paraguay Vanuatu
2024 3.84% -
2023 4.63% 11.2%
2022 9.77% 6.68%
2021 4.79% 2.34%
2020 1.77% 5.33%
2019 2.76% 2.76%
2018 3.98% 2.33%
2017 3.6% 3.08%
2016 4.09% 0.84%
2015 3.13% 2.48%
2014 5.03% 0.8%
2013 2.68% 1.46%
2012 3.68% 1.35%
2011 8.25% 0.87%
2010 4.65% 2.76%
2009 2.59% 4.3%
2008 10.2% 4.84%
2007 8.13% 3.94%
2006 9.59% 2.04%
2005 6.81% 1.2%
2004 4.32% 1.42%
2003 14.2% 3.02%
2002 10.5% 1.96%
2001 7.27% 3.58%
2000 8.98% 2.54%
1999 6.75% 2%
1998 11.6% 3.28%
1997 6.95% 2.83%

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

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

Over the past 27 years, Paraguay has recorded an average annual inflation rate of 6.32%, compared with 3.01% in Vanuatu. In 2023, inflation was 3.84% in Paraguay and 11.2% in Vanuatu.

Balance of trade

Paraguay Vanuatu
Current account balance
-$1.53B
2024
-$127M
2022
Current account balance ranking
133/190
2024
90/190
2022
Current account balance, % of GDP
-3.44%
2024
-12.1%
2022
Goods imports
$15.8B
2024
$350M
2022
Goods exports
$14.9B
2024
$73.6M
2022
Service imports
$2.54B
2024
$230M
2022
Service exports
$2.65B
2024
$78.5M
2022
Imports of goods and services, % of GDP
39.6%
2024
54.2%
2022
Exports of goods and services, % of GDP
37.2%
2024
9.43%
2022

Economic freedom indices

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

Paraguay Vanuatu
Economic freedom 66.4 61.1
Economic freedom ranking 61/197 92/197
Property rights 44.2 62.1
Government integrity 27.3 48.3
Judicial effectiveness 38.4 67.9
Tax burden 95.9 96.9
Government spending 86.9 48.1
Fiscal health 83 78.8
Business freedom 72 50.3
Labor freedom 44.1 41
Monetary freedom 76.5 72.1
Trade freedom 78.4 62
Investment freedom 80 65
Financial freedom 70 40

Economic freedom comparison by year

Paraguay
Vanuatu
1x
Year Economic freedom index
Paraguay Vanuatu
2026 66.4 61.1
2025 65.2 61.8
2024 60.1 62.2
2023 61 62.1
2022 62.9 62.9
2021 62.6 60.5
2020 63 60.7
2019 61.8 56.4
2018 62.1 69.5
2017 62.4 67.4
2016 61.5 60.8
2015 61.1 61.1
2014 62 59.5
2013 61.1 56.6
2012 61.8 56.6
2011 62.3 56.7
2010 61.3 56.4
2009 61 58.4
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/vanuatu | CC BY

The Economic Freedom Index for Paraguay is 66.4, ranking 61/197, compared to 61.1 for Vanuatu, ranking 92/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Paraguay Vanuatu
Services, % of GDP
48.7%
2024
59.1%
2022
Industry, % of GDP
32.5%
2024
7.37%
2022
Agriculture, forestry, and fishing, % of GDP
10.7%
2024
24.3%
2022
GNI, Atlas method
$43.7B
2024
$1.28B
2024
GNI per capita, PPP
$17,930
2024
$4,140
2024
Total reserves including gold
$9.89B
2023
$615M
2024
Total reserves ranking
76/177
2023
152/177
2024
Net foreign direct investment
-$335M
2024
-$9.21M
2022
Net inflows of foreign direct investment
$1.1B
2024
$28.9M
2024
Net outflows of foreign direct investment
$166M
2024
$2.79M
2024
Servicing debt to the IMF, % of GNI
4.58%
2024
2.04%
2024
Poverty at national poverty lines
20.1%
2024
15.9%
2020
Gross capital formation, % of GDP
22.8%
2024
38.3%
2022

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/vanuatu | 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.