The first four months of 2026 show a growing Paraguayan economy, but with sectoral differences that explain why the good macroeconomic numbers do not translate into uniform improvement for businesses and families.
The agro-export sector grew 7.7% in the first quarter, driven by commodity performance and international prices. Trade and some service sectors advanced 4.8%, reflecting greater dynamism at the start of the year. Industry recorded a more moderate expansion of 3.2%, while construction maintains an uneven performance, without recovering firm momentum. Services linked to domestic consumption grow slowly and unevenly.
The behavior of the exchange rate reopens debate: a stronger guarani against the dollar benefits importers and helps contain prices, but reduces exporters' competitiveness and compresses margins for local industry. The discussion intensifies with the intention to raise the minimum wage, currently at G. 2,899,048, without an equivalent increase in productivity. A strong currency combined with higher labor costs could pressure profitability, especially in sectors exposed to international competition and with tight margins.
The first four months reveal an economy that grows, but unevenly and with tensions in key variables. Dependence on external factors — such as exchange rates, international prices, and commodities — continues to set the pace of domestic activity. The challenge is not only to maintain the growth rate, but to make it more balanced across sectors.