The Republic of Paraguay is a landlocked country located in South America. It is also known as the Paraguayan Republic or simply Paraguay. This small country shares borders with Brazil, Argentina, and Bolivia. The country's official language is Spanish. Other synonyms for 'Paraguay' are 'The Heart of South America', 'The Land of the Guarani', and 'The Island Surrounded by Land'. Paraguay's economy is largely based on agriculture, with the country being a significant producer of soybeans, corn, and beef. Paraguay has a rich cultural heritage, with traditional music and dance playing an important role in its society.