U.S. One of Largest Foreign Investors in Paraguay
One of the smallest countries of South America, Paraguay is landlocked between Bolivia, Brazil and Argentina, with a total land area of 157,048 square miles. The national currency is the Guaraní, which is composed of 100 centimos, or cents, although currently, the coin valued at 10 guaraní is the smallest with any practical use. The capital of Paraguay is Asuncion, whose population is close to 600,000 residents. In addition to the capital, other important cities include Encarnación, Ciudad del Este, Villarrica, Coronel Oviedo and Pedro Juan Caballero.
Paraguay’s economy is predominantly agricultural. Exports to the U.S. include sugar, wood, animal products, gold, and tobacco. The United States is one of the largest foreign investors in Paraguay. More than a dozen U.S. multinational firms have subsidiaries in Paraguay. These include firms in the computer, agro-industrial, telecom, banking, and other service industries. Some 75 U.S. businesses have agents or representatives in Paraguay.
The U.S. also looks to Paraguay, which has tropical forest and riverine resources, to engage in hemispheric efforts to ensure sustainable development. The United States and Paraguay also cooperate in a variety of international organizations.