Paraguay is located in South America. With an area of 157,000 square miles, the country shares borders with three of its neighbours – Argentina, Bolivia and Brazil. Spanish is the official language; however, much of its population of 7,053,127 also speak Guaranil.
Paraguay's largest economic activity is based on Agriculture, Agri-business and Cattle Ranching with secondary support provided by small manufacturing. Nevertheless, in spite of Paraguay's political and economic challenges, Brazil, Argentina, Canada, Italy, India and the US have all invested in Paraguay in recent years.
Paraguay's economic potential has been historically constrained due to its landlocked geography, but it does have access to the Atlantic Ocean via the Parana River. Because it is landlocked, it is very dependent on Argentina and Brazil - its major trading partners.
The country's investment opportunities lie in energy, telecommunications, wood products, pharmaceuticals, food processing, road construction, water/sewage operations and textile/assembly operations. Paraguay has no mineral fuels but has a hydroelectric power plant which supplies all of the electricity consumed by Paraguay.
The country's currency is the Guarani, which trades at US$1.00 for 5,800 Guaranies.