Paraguay's Central Bank (BCP) released its Quarterly National Accounts report on Friday for the January–March 2026 period, confirming that the country's Gross Domestic Product (GDP) grew 5.8% year-on-year. Excluding weather-sensitive sectors such as agriculture and the binational power plants, growth reached 6.0%. The performance places Paraguay at the top of the regional ranking, outpacing Peru (3.5%), Argentina (2.3%), Colombia (2.2%), Brazil (1.8%), and Uruguay (0.9%). Chile, meanwhile, posted a 0.5% contraction.
On the supply side, agriculture led with 8.2% growth, driven by higher output of soybeans, sugarcane, cassava, beans, sunflowers, and tobacco, although the gains were tempered by declines in corn, cotton, sesame, and yerba mate. Services advanced 6.6%, followed by manufacturing (6.0%), construction (5.6%), and electricity and water (4.7%). Construction was buoyed by private-sector projects and increased demand for domestic cement, while electricity distribution—especially to energy-intensive industries—made a positive contribution, even though output from the binational plants performed poorly. Livestock, forestry, fishing, and mining grew 2.4%, reflecting higher slaughter of pigs and poultry as well as increased production of raw milk and eggs, though cattle slaughter declined.
On the expenditure side, growth was driven by private consumption (5.1%), with standout gains in transportation, financial services, restaurants and hotels, and validation services tied to cryptocurrency mining. Gross fixed capital formation rose 3.7%, with investment concentrated in construction and machinery. Public consumption also contributed, fueled primarily by salary increases for government workers. Net exports added further support to the positive result.
In the external sector, soybean exports maintained a strong pace through May, reaching 5,047,373 metric tons shipped—an increase of 1,483,357 tons over the same period in 2025. Shipments generated $1.941 billion in revenue, $633 million more than the previous year. According to Sonia Tomassone, foreign trade advisor at Capeco, the soy complex as a whole generated $2.492 billion between January and May, surpassing the $1.763 billion recorded in the same period of 2025. Argentina remains the top destination, while shipments to Brazil have risen and exports to South Korea have resumed. Exports of soybean oil and pellets also advanced during the period.