Geology of Paraguay Basin. These tholeiites were erupted in the Early Cretaceous in association with the initial opening of the South Atlantic. The Cretaceous volcanism did also created minor outcrops of potassic alkaline volcanics in a graben structure developed between Asunción and Villarrica and in Amambay Department. Cretaceous volcanism did also left small units of sodic alkaline rocks in Misiones Department in southern Paraguay. Geology of Paraguay The country of Paraguay lies geologically at the borderzone between several cratons. Due to thick Cenozoic sediment cover and regolith development few outcrops are available in Paraguay. East of Paraguay River that Precambrian and Early Paleozoic
Economy of Paraguay Most of Paraguay's trade takes place with Uruguay, Brazil and Argentina. In 2002 Paraguay conducted more than US$400 million in trade with Argentina and nearly US$800 million with Brazil. Paraguay is also a member of the Inter-American Development Bank, Latin American Integration Association, and Latin American Economic System and a signatory to the agreement creating the South American Community of Nations. In 2004 Paraguay signed an energy cooperation agreement with Venezuela to purchase oil and petroleum. Venezuela agreed to concessional financing that allowed Paraguay to pay over a 15-year period at a nominal interest rate. Imports totaled US$3.3 billion in