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Economy of Paraguay vs Vietnam compared: GDP & Debt

Updated on by Georank team

Paraguay has a GDP of $44.5B compared to $476B for Vietnam, ranking 98/197 and 33/197 by economy size, respectively.

Paraguay has $19.9B in government debt (44.8% of GDP), compared to $149B (31.3% of GDP) in Vietnam.

Paraguay vs Vietnam GDP by year

Paraguay
Vietnam
1x
Year GDP, current $
Paraguay Vietnam
2024 $44,458,118,397 $476,388,230,307
2023 $43,118,053,175 $433,857,681,378
2022 $41,952,910,858 $413,445,230,669
2021 $39,950,899,939 $366,474,752,771
2020 $35,432,178,068 $346,615,738,538
2019 $37,925,338,329 $334,365,270,497
2018 $40,225,448,341 $310,106,478,395
2017 $38,997,129,474 $281,353,605,987
2016 $36,089,700,223 $257,096,001,178
2015 $36,211,447,840 $239,258,328,382
2014 $40,377,929,296 $233,451,469,643
2013 $38,501,122,141 $213,708,811,665
2012 $33,271,921,136 $195,590,661,129
2011 $33,756,238,766 $172,595,049,184
2010 $27,260,886,405 $147,201,173,197
2009 $22,355,151,162 $106,014,659,565
2008 $24,615,267,664 $99,130,304,099
2007 $17,856,393,235 $77,414,425,532
2006 $13,429,430,050 $66,371,664,817
2005 $10,737,500,188 $57,633,255,738
2004 $9,624,440,836 $45,427,854,693
2003 $7,691,367,471 $39,552,513,232
2002 $7,196,260,657 $35,064,105,501
2001 $8,495,806,432 $32,685,198,809
2000 $8,855,705,140 $31,172,518,403
1999 $8,837,070,236 $28,683,659,007
1998 $9,260,481,572 $27,209,602,050
1997 $9,965,225,678 $26,843,700,442
1996 $9,788,391,781 $24,657,470,575
1995 $9,062,131,475 $20,736,164,459
1994 $7,870,982,005 $16,286,433,533
1993 $7,249,533,620 $13,180,953,598
1992 $7,157,424,031 $9,866,990,236
1991 $6,984,367,763 $9,613,369,520
1990 $5,812,114,523 $6,471,740,806
1989 $4,757,732,200 $6,293,304,975
1988 $4,255,683,528 $25,423,812,649
1987 $3,971,044,724 $36,658,108,850
1986 $3,723,993,943 $26,336,616,250
1985 $3,282,449,236 $14,094,687,821
1984 $4,502,462,807 -
1983 $5,673,248,726 -
1982 $5,419,411,765 -
1981 $5,624,515,873 -
1980 $4,448,087,302 -
1979 $3,416,777,778 -
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/vietnam | CC BY

GDP per capita in Paraguay vs Vietnam by year

Paraguay
GDP per capita

GDP per capita, PPP
Vietnam
GDP per capita

GDP per capita, PPP
1x
Year Current $
Paraguay Vietnam
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $6,416 $18,524 $4,717 $16,386
2023 $6,300 $17,564 $4,323 $15,034
2022 $6,206 $16,347 $4,148 $13,905
2021 $5,977 $15,406 $3,704 $12,049
2020 $5,365 $14,309 $3,534 $11,609
2019 $5,821 $14,150 $3,441 $11,029
2018 $6,258 $14,139 $3,222 $10,010
2017 $6,152 $13,977 $2,956 $9,170
2016 $5,775 $13,329 $2,735 $8,375
2015 $5,879 $12,679 $2,578 $7,672
2014 $6,652 $12,607 $2,546 $7,297
2013 $6,436 $12,137 $2,360 $6,758
2012 $5,642 $10,954 $2,185 $6,377
2011 $5,805 $11,442 $1,951 $5,786
2010 $4,751 $10,893 $1,683 $5,389
2009 $3,942 $9,802 $1,226 $5,061
2008 $4,385 $9,867 $1,164 $4,844
2007 $3,212 $9,179 $926 $4,581
2006 $2,439 $8,561 $808 $4,237
2005 $1,971 $8,007 $711 $3,894
2004 $1,786 $7,686 $565 $3,543
2003 $1,444 $7,276 $497 $3,240
2002 $1,368 $6,924 $445 $3,002
2001 $1,638 $6,916 $419 $2,809
2000 $1,736 $6,937 $404 $2,614
1999 $1,766 $7,080 $376 $2,421
1998 $1,890 $7,227 $361 $2,308
1997 $2,079 $7,299 $362 $2,189
1996 $2,088 $7,040 $337 $2,019
1995 $1,979 $6,966 $287.8 $1,841
1994 $1,760 $6,542 $229.9 $1,674
1993 $1,662 $6,234 $189.4 $1,534
1992 $1,683 $5,952 $144.5 $1,413
1991 $1,685 $5,873 $143.7 $1,298
1990 $1,440 $5,637 $98.8 $1,210
1989 $1,211 - $98.1 -
1988 $1,114 - $405 -
1987 $1,069 - $595 -
1986 $1,031 - $436 -
1985 $935 - $238.6 -
1984 $1,319 - - -
1983 $1,710 - - -
1982 $1,680 - - -
1981 $1,793 - - -
1980 $1,457 - - -
1979 $1,149 - - -
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/vietnam | CC BY

Paraguay's GDP per capita is $6,416, ranking 109/197, compared to $4,717 in Vietnam, ranking 122/197. Adjusted for purchasing power (GDP per capita PPP), Paraguay ranks 102nd at $18,524, while Vietnam ranks 108th at $16,386.

Economic indicators

Paraguay Vietnam
Gross domestic product
$44.5B
2024
$476B
2024
GDP rank
98/197
2024
33/197
2024
GDP growth
4.25%
2023-2024
7.09%
2023-2024
GDP per capita
$6,416
2024
$4,717
2024
GDP per capita rank
109/197
2024
122/197
2024
GDP per capita, PPP
$18,524
2024
$16,386
2024
GDP per capita PPP rank
102/197
2024
108/197
2024
Government debt
$19.9B
2024
$149B
2024
Debt-to-GDP ratio
44.8%
2024
31.3%
2024
Government debt per person
$2,872
2024
$1,475
2024
Government debt per person rank
103/185
2024
132/185
2024
Average annual personal income after taxes
$6,136
2026
$4,020
2026
Market capitalization of domestic companies
$313M
1999
$205B
2024
Number of billionaires n/a
5
2025
Income share by richest 10%
35%
2024
28.1%
2022
Income share by poorest 10%
2%
2024
2.6%
2022
Government expenditure, % of GDP
21%
2024
19.1%
2024
Consumer prices inflation
3.84%
2023-2024
3.6%
2023-2024
Central bank interest rate
6%
2024
4.5%
2023
Unemployment rate
5.69%
2024
1.53%
2024
Population
7120169
102365351

Spending and national debt comparison by year

Paraguay
Spending

Debt
Vietnam
Spending

Debt
1x
Year % of GDP
Paraguay Vietnam
Government spending Government debt Government spending Government debt
2024 21% 44.8% 19.1% 31.3%
2023 21.5% 41.1% 18.8% 34.3%
2022 20.2% 40.5% 18.2% 34.9%
2021 20.4% 37.5% 20.1% 39.2%
2020 22.6% 36.9% 21.3% 41.3%
2019 20.1% 25.8% 19.8% 41%
2018 18.5% 22.3% 20.5% 43.8%
2017 18.1% 19.8% 21.5% 46.6%
2016 17.7% 19.4% 22.2% 47.9%
2015 18% 18.6% 24.2% 46.1%
2014 17.1% 15.6% 22.8% 43.6%
2013 17.1% 13.5% 24.5% 41.4%
2012 17.6% 12.3% 23.5% 38.3%
2011 14.7% 11.1% 21.2% 36.2%
2010 13.3% 13% 23.7% 37.3%
2009 14.3% 14.9% 25% 36.2%
2008 11.8% 16% 21.4% 31%
2007 13.1% 16.8% 22.3% 32.2%
2006 14.1% 21% 20.5% 30.2%
2005 14% 28.3% 20.6% 28.7%
2004 14% 36% 19.4% 29.4%
2003 14.6% 37.5% 22.2% 29.8%
2002 17.6% 50.5% 19.7% 27.7%
2001 19% 37.1% 19.2% 25.4%
2000 19.6% 33.6% 17.8% 24.8%
1999 19.2% 32% 16.7% -
1998 18% 22.1% 16% -
1997 18.1% 18% - -
1996 16.9% 16.8% - -
1995 15.7% 17.6% - -
1994 14.5% 18.7% - -
1993 12.9% 26.6% - -
1992 13% 34.4% - -
1991 11.4% 49.4% - -
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/vietnam | CC BY

In 2024, Paraguay's government spending was $9.33B, accounting for 21% of its GDP, while Vietnam spent $91.1B, or 19.1% of GDP.

Debt-to-GDP ratio is 44.8% in Paraguay and 31.3% in Vietnam, ranking 120/185 and 156/185, respectively.

Government deficit by year

Deficit/surplus
Paraguay

Vietnam
1x
Year Deficit/surplus, % of GDP
Paraguay Vietnam
2024 -2.12% -1.54%
2023 -3.81% -1.72%
2022 -2.64% 0.67%
2021 -3.39% -1.43%
2020 -5.72% -2.86%
2019 -2.44% -0.4%
2018 -1.01% -1.02%
2017 -0.44% -1.96%
2016 -0.37% -3.16%
2015 -0.44% -4.98%
2014 -0.27% -5.02%
2013 -1.16% -5.96%
2012 -0.58% -5.46%
2011 1.29% -0.9%
2010 1.54% -2.25%
2009 0.59% -4.82%
2008 2.29% -0.45%
2007 1.27% -1.74%
2006 0.91% 0.2%
2005 0.74% -0.95%
2004 1.33% -0.15%
2003 -0.07% -2.56%
2002 -1.89% -1.85%
2001 0.07% -2.19%
2000 -0.55% -1.61%
1999 2.67% -1.25%
1998 4.28% -0.1%
1997 3% -
1996 2.43% -
1995 2.78% -
1994 4.59% -
1993 4.27% -
1992 3.1% -
1991 3.41% -
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/vietnam | 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 Vietnam's deficit of $7.32B, or 1.54% of GDP.

Over the past 27 years, Paraguay recorded a fiscal deficit in 16 of those years, while Vietnam ran a deficit in 25 years. On average, Paraguay posted an annual deficit equal to 0.37% of GDP, compared to deficit of 2.05% of GDP for Vietnam.

Inflation comparison by year

Inflation
Paraguay

Vietnam
1x
Year Consumer prices inflation
Paraguay Vietnam
2024 3.84% 3.6%
2023 4.63% 3.3%
2022 9.77% 3.2%
2021 4.79% 1.8%
2020 1.77% 3.2%
2019 2.76% 2.8%
2018 3.98% 3.5%
2017 3.6% 3.5%
2016 4.09% 2.7%
2015 3.13% 0.6%
2014 5.03% 4.1%
2013 2.68% 6.6%
2012 3.68% 9.1%
2011 8.25% 18.7%
2010 4.65% 9.1%
2009 2.59% 6.7%
2008 10.2% 23.3%
2007 8.13% 8.4%
2006 9.59% 7.7%
2005 6.81% 8.3%
2004 4.32% 7.8%
2003 14.2% 3.1%
2002 10.5% 3.8%
2001 7.27% -0.4%
2000 8.98% -1.8%
1999 6.75% 4.1%
1998 11.6% 8.1%
1997 6.95% 3.1%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

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

Over the past 28 years, Paraguay has recorded an average annual inflation rate of 6.23%, compared with 5.64% in Vietnam. In 2024, inflation was 3.84% in Paraguay and 3.6% in Vietnam.

Top exports between countries

Paraguay
Export category Export value
Processed food, beverages & tobacco $28.4M
Textiles & consumer goods $16.6M
Animal & marine products $11M
Raw agricultural goods $7.73M
Metals $554K
Chemicals & pharma $223K
Machinery & equipment $123K
Wood & paper products $66K
Vietnam
Export category Export value
Machinery & equipment $71.5M
Textiles & consumer goods $15.4M
Raw materials & minerals $2.71M
Chemicals & pharma $1.23M
Metals $718K
Raw agricultural goods $191K
Animal & marine products $183K
Miscellaneous $34K
Wood & paper products $2K

Balance of trade

Paraguay Vietnam
Current account balance
-$1.53B
2024
$28B
2024
Current account balance ranking
133/190
2024
18/190
2024
Current account balance, % of GDP
-3.44%
2024
+5.89%
2024
Goods imports
$15.8B
2024
$362B
2024
Goods exports
$14.9B
2024
$406B
2024
Service imports
$2.54B
2024
$36.2B
2024
Service exports
$2.65B
2024
$23.9B
2024
Imports of goods and services, % of GDP
39.6%
2024
83.7%
2024
Exports of goods and services, % of GDP
37.2%
2024
90.2%
2024

Economic freedom indices

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

Paraguay Vietnam
Economic freedom 66.4 64.4
Economic freedom ranking 61/197 73/197
Property rights 44.2 47.3
Government integrity 27.3 39.2
Judicial effectiveness 38.4 31.3
Tax burden 95.9 80.9
Government spending 86.9 89.5
Fiscal health 83 96.9
Business freedom 72 70
Labor freedom 44.1 54.7
Monetary freedom 76.5 73.2
Trade freedom 78.4 79.8
Investment freedom 80 60
Financial freedom 70 50

Economic freedom comparison by year

Paraguay
Vietnam
1x
Year Economic freedom index
Paraguay Vietnam
2026 66.4 64.4
2025 65.2 65.2
2024 60.1 62.8
2023 61 61.8
2022 62.9 60.6
2021 62.6 61.7
2020 63 58.8
2019 61.8 55.3
2018 62.1 53.1
2017 62.4 52.4
2016 61.5 54
2015 61.1 51.7
2014 62 50.8
2013 61.1 51
2012 61.8 51.3
2011 62.3 51.6
2010 61.3 49.8
2009 61 51
2008 60 50.4
2007 58.3 49.8
2006 55.6 50.5
2005 53.4 48.1
2004 56.7 46.1
2003 58.2 46.2
2002 59.6 45.6
2001 60.3 44.3
2000 64 43.7
1999 63.7 42.7
1998 65.2 40.4
1997 67.3 38.6
1996 67.1 40.2
1995 65.9 41.7

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

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

The Economic Freedom Index for Paraguay is 66.4, ranking 61/197, compared to 64.4 for Vietnam, ranking 73/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Paraguay Vietnam
Services, % of GDP
48.7%
2024
42.4%
2024
Industry, % of GDP
32.5%
2024
37.6%
2024
Agriculture, forestry, and fishing, % of GDP
10.7%
2024
11.9%
2024
GNI, Atlas method
$43.7B
2024
$454B
2024
GNI per capita, PPP
$17,930
2024
$15,850
2024
Total reserves including gold
$9.89B
2023
$83.1B
2024
Total reserves ranking
76/177
2023
30/177
2024
Net foreign direct investment
-$335M
2024
-$19.6B
2024
Net inflows of foreign direct investment
$1.1B
2024
$20.2B
2024
Net outflows of foreign direct investment
$166M
2024
$600M
2024
Servicing debt to the IMF, % of GNI
4.58%
2024
7.29%
2024
Poverty at national poverty lines
20.1%
2024
4.2%
2022
Gross capital formation, % of GDP
22.8%
2024
30.6%
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/vietnam | CC BY

Compare countries by 7 more topics

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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 (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.