Asunción, IP Agency.- The country’s Gross Domestic Product (GDP) closed the second quarter of the year with an increase of 4.8% year-on-year, which accumulated growth of 4.6% at the end of the first half of 2024, according to the Bank’s latest report. Central of Paraguay.
According to the details of the report, the performances recorded in services, manufacturing, construction, livestock and, to a lesser extent, agriculture had a positive impact.
The services sector registered an interannual increase of 6.2% in the second quarter of 2024, thus accumulating growth of 5.6% at the end of the first half of 2024.
Manufacturing activity registered an interannual growth of 5.8% compared to the same quarter of 2023, while the accumulated variation at the end of the first semester reached a growth of 5.6%.
The construction sector recorded a year-on-year increase of 4.7% in the second quarter of 2024, thus accumulating growth of 1.2% at the end of the first half of 2024.
Livestock farming experienced a favorable year-on-year performance, explained by the higher level of slaughter of cattle, poultry, and pigs and, to a lesser extent, by the greater production of raw milk and eggs. Likewise, forestry, fishing and mining activities also showed positive results in the second quarter of 2024.
Agriculture registered an interannual growth of 1.0% in the second quarter of 2024, accumulating a slight growth of 0.6% at the end of the first half of 2024.
The year-on-year result for the quarter was explained by the higher estimated production levels for soybeans, wheat, rice, sugar cane, cotton, beans, canola and yerba mate. However, corn production showed a decline.
However, the negative result of electricity generation attenuated the favorable performance of economic activity.
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2024-10-04 04:59:29
