Argentina - Paraguay Trade 2023 Whole Year: Deficit & Volatility
Key Market Takeaways: Argentina - Paraguay Trade
The bilateral trade relationship between Argentina and Paraguay is marked by growth, volatility, and a significant deficit in 2023.
- Economic Pulse: Argentina posted a $2.7B trade deficit with Paraguay, driven by imports ($3.91B) far exceeding exports ($1.21B). Volatility spiked in both directions, with import surges (e.g., +254.71% YoY in December) offsetting export declines (e.g., -50.43% in July).
- Exchange Structure: Argentina - Paraguay trade statistics reveal a resource-for-tech complementarity: Argentina exports industrial/consumer goods (HS Code 99, 27) while relying heavily on Paraguayan agricultural products (HS Code 12, 81.82% of imports).
- Strategic Interdependence: The partnership reflects asymmetric dependency, with Argentina holding higher value-add exports but leaning on Paraguay for critical raw materials.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Argentina-Paraguay Trade Trend in Whole Year 2023
Argentina Export Performance: Shipments to Paraguay
- Total Volume: $1.21B in 2023.
- Growth Trend & Context:
- YoY fluctuations were mixed, with sharp declines in July (-50.43%) and April (-23.89%), offset by gains in May (+27.36%) and August (+19.78%).
- No specific trade news to explain volatility.
- Key Volatility: March saw the highest MoM growth (+25.56%), while June had the steepest drop (-18.5%).
Argentina Import Performance: Sourcing from Paraguay
- Total Volume: $3.91B in 2023.
- Growth Trend & Context:
- Strong YoY growth dominated, peaking in December (+254.71%) and November (+181.77%), despite May’s muted +12.84%.
- No news context provided for the surge.
- Key Volatility: March recorded the highest absolute value ($775.44M) and MoM surge (+234.45%), while May and September saw steep declines (-38.54% and -31.9%, respectively).
Argentina - Paraguay Trade Balance & Market Dynamics
- Net Position: Trade deficit of $2.7B (Imports $3.91B > Exports $1.21B).
- Relationship Status: Argentina heavily reliant on Paraguayan imports, with imports over 3x export value. Volatility in imports suggests supply or demand shocks, though no policy drivers were cited.
Argentina Import Trend from Paraguay 2023 Whole Year (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 67.33M | -25.58% | 184.54% |
| Feb | 231.86M | 244.37% | 89.63% |
| Mar | 775.44M | 234.45% | 136.44% |
| Apr | 489.04M | -36.93% | 109.98% |
| May | 300.55M | -38.54% | 12.84% |
| Jun | 333.32M | 10.9% | 56.62% |
| Jul | 297.12M | -10.86% | 60.24% |
| Aug | 366.02M | 23.19% | 138.48% |
| Sep | 249.27M | -31.9% | 85.25% |
| Oct | 219.04M | -12.13% | 88.73% |
| Nov | 261.83M | 19.54% | 181.77% |
| Dec | 320.91M | 22.56% | 254.71% |
| Total | 3.91B | - | - |
Argentina Export Trend to Paraguay 2023 Whole Year (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 78.19M | -23.06% | -9.42% |
| Feb | 82.37M | 5.34% | -6.42% |
| Mar | 103.42M | 25.56% | 5.32% |
| Apr | 96.52M | -6.67% | -23.89% |
| May | 116.12M | 20.31% | 27.36% |
| Jun | 94.64M | -18.5% | -22.54% |
| Jul | 108.38M | 14.51% | -50.43% |
| Aug | 114.36M | 5.52% | 19.78% |
| Sep | 112.01M | -2.05% | 19.61% |
| Oct | 106.74M | -4.7% | -0.57% |
| Nov | 100.56M | -5.79% | 8.33% |
| Dec | 92.11M | -8.41% | -9.36% |
| Total | 1.21B | - | - |
Get Historical Argentina Paraguay Trade Records
Argentina-Paraguay Top Trading Products in Whole Year 2023
Argentina Export Profile: What Does Argentina Sell to Paraguay
- Top Commodity: HS Code 99 (32.26% share).
- Demand Driver: Paraguay likely imports these goods for industrial processing or consumer market needs.
- Concentration: The top two exports (HS Code 99 and 27) account for 57.79% of total exports, indicating moderate concentration.
Argentina Import Profile: What Does Argentina Buy from Paraguay
- Top Commodity: HS Code 12 (81.82% share).
- Dependency Nature: Argentina heavily relies on Paraguay for this product, suggesting a food security or raw material dependency.
Argentina - Paraguay Trade Relationship Dynamics
- The Exchange Model: Resource-for-Tech Complementarity. Argentina exports a mix of industrial and consumer goods (HS Code 99, 27) while importing primarily agricultural products (HS Code 12) from Paraguay.
- Value Chain Position: Argentina appears to hold a higher value-add position, exporting more processed goods (e.g., HS Code 99, 27) compared to Paraguay’s raw material exports (HS Code 12).
Import Analysis by Product: Paraguay to Argentina (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 12 | 3.20B | 81.82% |
| 27 | 418.53M | 10.70% |
| 85 | 76.42M | 1.95% |
| 08 | 36.31M | 0.93% |
| 83 | 29.17M | 0.75% |
| 48 | 19.71M | 0.50% |
| 23 | 17.46M | 0.45% |
| 72 | 12.47M | 0.32% |
| 39 | 12.08M | 0.31% |
| 76 | 11.11M | 0.28% |
Export Analysis by Product: Argentina to Paraguay (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 99 | 388.85M | 32.26% |
| 27 | 307.78M | 25.53% |
| 87 | 90.84M | 7.54% |
| 38 | 67.93M | 5.64% |
| 30 | 51.45M | 4.27% |
| 33 | 30.33M | 2.52% |
| 21 | 29.29M | 2.43% |
| 19 | 28.89M | 2.40% |
| 39 | 23.30M | 1.93% |
| 84 | 18.94M | 1.57% |
Check Detailed Argentina-Paraguay Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast
Argentina’s trade deficit with Paraguay is likely to persist in 2024, driven by sustained demand for Paraguayan agricultural products (HS Code 12) and limited export diversification. The volatility in import surges—particularly in Q4 2023—suggests potential supply chain disruptions or seasonal demand spikes, which traders should monitor closely. However, Argentina’s higher-value exports (HS Code 99, 27) indicate room for growth if market access is optimized. Without policy intervention, the Argentina-Paraguay trade relationship will remain asymmetrical, with Paraguay holding leverage as a key supplier.
Strategic Moves
- Diversify Import Sources: Reduce reliance on Paraguayan agricultural goods by exploring alternative suppliers in Brazil or Uruguay to mitigate price volatility and supply shocks.
- Boost High-Value Exports: Argentine exporters should aggressively market processed goods (HS Code 99, 27) to Paraguay, targeting industrial and consumer sectors with competitive pricing and trade incentives.
- Lock in Long-Term Contracts: For critical Paraguayan imports (HS Code 12), negotiate fixed-price agreements to shield against sudden cost surges, especially ahead of peak demand periods.
Frequently Asked Questions
How did Argentina - Paraguay trade perform in 2023 Whole Year?
Argentina exported $1.21B to Paraguay and imported $3.91B, resulting in a trade deficit of $2.7B. Exports showed mixed YoY growth, while imports surged significantly, peaking in December (+254.71%).
What are the top exports from Argentina to Paraguay?
The top exports were HS Code 99 (32.26% share) and HS Code 27, together accounting for 57.79% of total exports, indicating a mix of industrial and consumer goods.
What does Argentina import from Paraguay?
Argentina primarily imports HS Code 12 (81.82% share), suggesting heavy reliance on agricultural products or raw materials from Paraguay.
What is the trade balance between Argentina and Paraguay?
Argentina recorded a trade deficit of $2.7B with Paraguay, as imports ($3.91B) exceeded exports ($1.21B) by over 3x. The gap widened due to surging import growth.
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