Paraguay is an emerging economy in South America, according to a report from the World Bank. In terms of international rankings, Paraguay ranks fourth highest in the region, behind Chile, Uruguay, and Argentina. According to the World Bank’s 2016 Doing Business report, Paraguay is ranked 82nd in the world for ease of doing business, up from 94th in 2015. Paraguay also ranks out of all other Latin American countries for quality of infrastructure and tax efficiency. In terms of economic output, Paraguay ranks in the top quartile when compared to the other South American countries, with a Gross Domestic Product (GDP) of US$30.5 billion in 2016. Despite the slowing of global growth and a decline in commodity prices, Paraguay was able to record an impressive growth rate of 5.4% in 2016. In terms of poverty, Paraguay is estimated to have a poverty rate of 36.3%, compared to 32.6% in 2015. This figure is still below the Latin American average, though, and it indicates that despite the slower growth due to external factors, the country has seen relatively strong economic performance in recent years. As far as international rankings go, Paraguay has seen some improvement in terms of public and private investments. According to the World Economic Forum’s Global Competitiveness Index, Paraguay is ranked 52nd, up from 64th in 2016, which was its highest ever ranking. With the help of public and private investments, Paraguay may be able to continue improving its rankings in the coming years.