Paraguay: Selected Issues

Paraguay: Selected Issues
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Volume/Issue: Volume 2024 Issue 201
Publication date: July 2024
ISBN: 9798400280214
$20.00
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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Labor , Exports and Imports , Economics- Macroeconomics , Taxation - General , trade level , trade performance , E , policy implication , trade pattern , elasticity of formality , Social security contributions , Exports , Informal employment , Trade policy , Caribbean , South America , Global

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Summary

The Selected Issues paper focuses on analyzing trade barriers in Paraguay. This study aims to conduct a more comprehensive analysis of Paraguay's trade performance compared to other Latin American nations and countries outside the region that share similar traits with Paraguay. The analysis highlights the crucial role of comprehensive policies in infrastructure development, governance enhancement, and human capital improvement for promoting trade in all countries, including Paraguay. Reducing trade barriers, overcoming infrastructure shortfalls, and enacting policies to enhance Paraguay's attractiveness for investment are key strategies for fostering trade and economic development. Finally, given Paraguay's levels of export concentration across products, alongside an increasing concentration across markets, and the vulnerability of its primary agricultural exports to droughts, diversification strategies should be intensified, both in terms of products and export markets. Investing in agricultural technology and practices that enhance drought resilience is crucial to safeguard primary exports. Additionally, exploring and developing nonagricultural sectors for export can reduce reliance on volatile agricultural commodities.