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Self-sufficient in rice, Paraguay showed potential as a regional exporter because of its rich soils and irrigation potential along the Río Paraná. [citation needed] After attempting for twenty years to become self-sufficient in wheat production, Paraguay reached wheat self-sufficiency in 1986. For two decades, the government's national wheat ...
Additionally, Paraguay produces an adequate supply of beef, pork, and dairy products to meet domestic needs. The discovery of cases of foot-and-mouth disease in 2002 and 2003 led to a ban on Paraguayan beef in many countries. However, in 2004 Paraguay's meat production and exports rebounded.
The mineral industry of Paraguay includes the production of cement, iron and steel, and petroleum derivatives. Paraguay has no known natural gas or oil reserves.To meet its crude oil and petroleum products demand, Paraguay relies completely on imports of approximately 25,400 barrels per day (4,040 m 3 /d) (bbl/d) (2006 est.).
The World Bank lists the top producing countries each year, based on the total value of production. By the 2019 list, Paraguay had the 79th most valuable industry in the world ($6.9 billion). [88] The country was the seventh largest producer of soybean oil in the world in 2018. [89]
Production of some products is highly concentrated in a few countries, China, the leading producer of wheat and ramie in 2013, produces 95% of the world's ramie fiber but only 17% of the world's wheat. Products with more evenly distributed production see more frequent changes in the ranking of the top producers.
The United States soy trade has had little influence on South America’s production because the U.S. grows enough to meet its own demand. Nonetheless, the demand from Asia has been vast enough to spur a 69% increase in Paraguay’s soy production over the past five years, making Paraguay the world’s third largest exporter of soy. [citation ...
That's because Paraguay is the happiest country on Earth -- at least, according to a survey by the Gallup organization. It polled people in Paraguay is happiest country on Earth, says survey by Gallup
Location of Paraguay. Paraguay's economy is highly dependent on agricultural products, and agriculture represents around 30% of its GDP. Brazil, Argentina, and Chile are its main export partners. Its main import partners are Brazil, the United States, and China.