Chile - Paraguay Trade 2023 Q4: Deficit & Volatility
Key Market Takeaways: Chile - Paraguay Trade
The bilateral trade relationship between Chile and Paraguay shows growth with high volatility in Q4 2023.
- Economic Pulse: Chile posted a $310.16M trade deficit with Paraguay, driven by $431.10M in imports (mostly meat) versus $120.94M in exports (vehicles and apparel). Volatility marked both flows, with November spikes and December drops.
- Exchange Structure: The Chile-Paraguay trade statistics reveal a resource-for-consumer goods dynamic: Chile supplies manufactured products (19.91% vehicles) while Paraguay dominates with agricultural exports (44.17% meat).
- Strategic Interdependence: Highly complementary but imbalanced—Chile’s value-add exports (pharmaceuticals, vehicles) contrast Paraguay’s raw commodity strength, creating asymmetric dependency.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Chile-Paraguay Trade Trend in Q4 2023
Chile Export Performance: Shipments to Paraguay
- Total Volume: $120.94M in Q4 2023.
- Growth Trend & Context:
- YoY swings: Sharp decline (-28.94%) in October, rebounded strongly (+28.46%) in November, then moderated (-1.71%) in December.
- Key Volatility: November saw the highest MoM surge (+42.03%), while October had the steepest drop (-23.76%).
Chile Import Performance: Sourcing from Paraguay
- Total Volume: $431.10M in Q4 2023.
- Growth Trend & Context:
- YoY mixed: November (+11.05%) offset declines in October (-1.49%) and December (-15.45%).
- Key Volatility: November peaked at $175.58M (MoM +40.91%), but December fell sharply (-25.43% MoM).
Chile - Paraguay Trade Balance & Market Dynamics
- Net Position: Trade deficit of $310.16M (Imports exceeded exports).
- Relationship Status: Chile heavily reliant on Paraguayan imports, with exports failing to offset the gap. Volatility in both flows suggests uneven demand or supply chain adjustments.
Chile Import Trend from Paraguay 2023 Q4 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Oct | 124.61M | 51.72% | -1.49% |
| Nov | 175.58M | 40.91% | 11.05% |
| Dec | 130.92M | -25.43% | -15.45% |
| Total | 431.10M | - | - |
Chile Export Trend to Paraguay 2023 Q4 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Oct | 33.04M | -23.76% | -28.94% |
| Nov | 46.93M | 42.03% | 28.46% |
| Dec | 40.97M | -12.69% | -1.71% |
| Total | 120.94M | - | - |
Get Historical Chile Paraguay Trade Records
Chile-Paraguay Top Trading Products in Q4 2023
Chile Export Profile: What Does Chile Sell to Paraguay
- Top Commodity: Vehicles (HS 87) dominate exports, accounting for 19.91% of total value.
- Demand Driver: Paraguay's consumer market absorbs Chilean vehicles and apparel (HS 62, 61, 63), indicating demand for finished goods.
- Concentration: No single category exceeds 50%, but transport (HS 87) and textiles (HS 62, 61, 63) collectively represent 42.36% of exports.
Chile Import Profile: What Does Chile Buy from Paraguay
- Top Commodity: Meat (HS 02) leads imports with a 44.17% share, reflecting Paraguay's strength in agricultural exports.
- Dependency Nature: Chile relies on Paraguay for food security, with meat (HS 02), cereals (HS 10), and animal feed (HS 23) comprising 89.86% of imports.
Chile - Paraguay Trade Relationship Dynamics
- The Exchange Model: Resource-for-Consumer Goods Complementarity—Chile supplies manufactured products (vehicles, apparel) while Paraguay provides agricultural commodities.
- Value Chain Position: Chile holds the higher value-add position, exporting processed goods (e.g., vehicles, pharmaceuticals) versus Paraguay's raw agricultural exports.
Import Analysis by Product: Paraguay to Chile (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 02 | 190.40M | 44.17% |
| 10 | 147.36M | 34.18% |
| 23 | 49.60M | 11.51% |
| 15 | 16.83M | 3.90% |
| 83 | 7.52M | 1.75% |
| 48 | 3.23M | 0.75% |
| 12 | 2.54M | 0.59% |
| 16 | 2.45M | 0.57% |
| 30 | 1.77M | 0.41% |
| 38 | 1.69M | 0.39% |
Export Analysis by Product: Chile to Paraguay (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 87 | 24.08M | 19.91% |
| 62 | 14.30M | 11.83% |
| 61 | 6.76M | 5.59% |
| 63 | 6.09M | 5.03% |
| 30 | 5.93M | 4.90% |
| 95 | 5.18M | 4.28% |
| 64 | 5.06M | 4.18% |
| 22 | 4.85M | 4.01% |
| 21 | 3.96M | 3.28% |
| 39 | 3.82M | 3.16% |
Check Detailed Chile-Paraguay Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast
The Chile-Paraguay trade relationship is expected to remain volatile in the near term, with Paraguay’s agricultural exports continuing to dominate Chile’s import basket. While Chile’s vehicle and textile exports show resilience, the trade deficit is likely to persist unless export diversification accelerates. Seasonal fluctuations in meat and cereal demand may further amplify volatility, requiring traders to adopt proactive risk management. Long-term, Chile must strengthen its export competitiveness in high-value sectors to rebalance the trade equation.
Strategic Moves
- Diversify Export Markets: Chilean exporters should target emerging demand in Paraguay for processed foods and pharmaceuticals, reducing reliance on vehicle sales alone.
- Lock in Agricultural Supply Contracts: Importers of Paraguayan meat and cereals must secure forward contracts to mitigate price swings and ensure stable supply chains.
- Optimize Logistics for Textile Trade: Given the seasonal spikes in apparel demand, Chilean textile firms should streamline cross-border logistics to capitalize on peak sales periods.
Frequently Asked Questions
How did Chile - Paraguay trade perform in 2023 Q4?
Chile's exports to Paraguay totaled $120.94M, with mixed YoY growth, while imports from Paraguay reached $431.10M, showing volatility. Overall, Chile recorded a trade deficit of $310.16M.
What are the top exports from Chile to Paraguay?
Chile's top exports to Paraguay include vehicles (HS 87) and apparel (HS 62, 61, 63), collectively representing 42.36% of total exports.
What does Chile import from Paraguay?
Chile primarily imports meat (HS 02), cereals (HS 10), and animal feed (HS 23) from Paraguay, which account for 89.86% of total imports.
What is the trade balance between Chile and Paraguay?
Chile had a trade deficit of $310.16M with Paraguay in Q4 2023, as imports significantly exceeded exports, reflecting heavy reliance on Paraguayan agricultural goods.
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