Paraguay is located in South America. Its capital and most populated city is Asuncion. It has a population of approximately 7,1 million inhabitants. Paraguay is a founding member of the Mercosur, an original member of the United Nations, the Organization of American States, the Non-Aligned Movement and the Lima Group.
Between 1970 and 2013, the country had the highest economic growth of South America, with an average rate of 7,2% per year. Paraguay is the largest electricity exporter country in the world, the sixth-largest soybean producer, and the 8th largest exporter of beef. The second and third sectors are the most important.