It has a population of seven million, nearly three million of whom live in the capital and largest city of Asunción, and its surrounding metro. Although one of only two landlocked countries in South America (Bolivia is the other), It has ports on the Paraguay and Paraná rivers that give exit to the Atlantic Ocean, through the Paraná-Paraguay Waterway. Spanish conquistadores arrived in 1524, and in 1537, they established the city of Asunción, the first capital of the Governorate of the Río de la Plata
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Economy:
It's a market economy that is highly dependent on agriculture products. In recent years, it has grown as a result of increased agricultural exports, especially soybeans. It has the economic advantages of a young population and vast hydroelectric power. Its disadvantages include the few available mineral resources, and political instability. The government welcomes foreign investment. Agriculture represents 30% of its GDP. According to official figures, 5% of landowners own 90% of the land
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