Macroeconomic Forecast Paraguay

BMI View: Paraguay's trade balance remained in the red in January, as the country posted a deficit of US$429mn. Exports stood at US$350mn, less than half of the value of imports, which came in at US$778mn. As we wait to get a better gauge of the impact that the recent drought and foot-and-mouth disease (FMD) outbreaks will have on the trade balance, we are maintaining our 2012 current account forecast at a deficit of 4.7% of GDP, which we already downgraded from a deficit of 1.4% in January.

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