2023 Dec Paraguay Trade Data Summary: Export Surge & Risks

Paraguay 2023 Dec Trade Data Key Takeaways

• Market Trend: Paraguay trade data shows exports surged 24.7% in Dec 2023, outpacing import growth (8.3%) amid strong agri-demand.
• Key Driver: Paraguay import export data reveals oil seeds, minerals, and meat dominate exports (49% combined), while machinery imports signal industrial gaps.
• Strategic Risk: Hyper-regional export reliance (67.6% to Argentina/Brazil) clashes with global import dependencies, exposing dual supply chain vulnerabilities.

Analysis covers 2023 Dec based on sanitized customs records from the yTrade database.

Paraguay 2023 Dec Trade Data Trend Overview

• Paraguay, a key agricultural and hydroelectric exporter in South America, closed December 2023 with a strong export performance, as reflected in the latest Paraguay global trade data.
• The nation's Paraguay import export data shows exports surged 24.7% year-on-year to $889 million, while imports grew a more moderate 8.3% to $1.47 billion.
• This divergent growth resulted in a monthly trade deficit of approximately $581 million.
• The robust export growth, particularly for agricultural commodities like soybeans, was likely driven by sustained global demand and favorable pricing, with no specific trade-disrupting policy news reported for the period.

Table: Import Key Metrics (Source: yTrade)

Table: Export Key Metrics (Source: yTrade)

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Paraguay 2023 Dec Top Trading Products

Paraguay Global Trade Core Summary

Paraguay's exports are dominated by agricultural and mineral products, with oil seeds (18.6%), mineral fuels (15.18%), and meat (15.12%) making up nearly half of total exports. Cereals and animal feed add another 23.8%, reinforcing a heavy reliance on primary goods. Imports, however, skew toward manufactured goods, led by electrical machinery (24.72%) and industrial machinery (12.17%), alongside mineral fuels (11.28%). This split highlights a resource-driven export economy dependent on foreign machinery and technology.

Key takeaways:

• Exports are concentrated in raw materials, exposing Paraguay to commodity price swings.
• High import reliance on machinery signals limited domestic industrial capacity.
• Minimal overlap in HS codes (e.g., mineral fuels traded both ways) suggests basic processing, not advanced manufacturing.

Paraguay Export-Import Structural Gap

Paraguay’s trade gap shows a clear divide: it sells farm goods and minerals but buys finished machinery and vehicles. The lack of high-value exports (only 2.54% electrical machinery) versus 36.89% machinery imports points to an underdeveloped industrial base. Overlap in mineral fuels (exported and imported) hints at refining or energy trade, not deep processing. To reduce dependency, Paraguay could invest in upgrading agricultural outputs or light manufacturing, but current data shows no strong shift in that direction.

Table: Paraguay Top Import & Export Product Categories (Source: yTrade)

Check Detailed Paraguay Trade HS Code Breakdown

Paraguay 2023 Dec Top Trading Countries

Paraguay Global Trade Key Patterns

Paraguay's exports are highly concentrated in South America, with Argentina (38.5%, $342M) and Brazil (29.1%, $258M) accounting for over two-thirds of shipments. Chile (8.5%, $75M) and Uruguay (2.7%, $24M) are secondary markets, while Asia and Europe receive minimal volumes. Imports show stronger diversification, though Mainland China dominates (37%, $545M), followed by Brazil (24.5%, $361M). Argentina (6.5%, $95M) and the US (6.4%, $94M) are mid-tier suppliers, with smaller shares from Thailand, Germany, and India. Key asymmetries:

• Exports rely heavily on two neighbors (Argentina/Brazil = 67.6% share).
• Imports have a broader base but still depend on China and Brazil (61.5% combined).
• The US appears in both top 10 lists, suggesting some processing trade.

Paraguay Export–Import Geographic Gap

Exports remain hyper-regional (90%+ to South America), while imports draw from global suppliers across Asia, Europe, and the Americas. Brazil is the only major overlap, indicating cross-border supply chain integration. The structure reveals upstream dependency (imports concentrated in China/Brazil) but limited downstream diversification (exports locked in neighboring markets). This creates vulnerability to regional demand shocks while requiring stable import flows from distant suppliers.

Table: Paraguay Top Destiantion & Origin Countries (Source: yTrade)

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Frequently Asked Questions

What are the major products exported by Paraguay in 2023 Dec?

Paraguay's top exports in December 2023 were oil seeds and oleaginous fruits (18.60%), mineral fuels (15.18%), meat and edible offal (15.12%), and cereals (13.51%), based on HS code data.

What are the main products Paraguay imports in 2023 Dec?

The primary imports were electrical machinery (24.72%), nuclear reactors and machinery (12.17%), mineral fuels (11.28%), and vehicles (7.60%), according to HS code classifications.

Which countries are the top destinations for Paraguay's exports in 2023 Dec?

Mainland China (37.04%), Brazil (24.52%), and Argentina (6.46%) were the leading export destinations, per trade data.

Which countries supply most of Paraguay's imports in 2023 Dec?

Argentina (38.51%), Brazil (29.07%), and Chile (8.49%) were the largest import sources for Paraguay.

How balanced are Paraguay's export and import markets in 2023 Dec?

Paraguay had a trade deficit of $581 million, with exports growing 24.7% to $889 million and imports rising 8.3% to $1.47 billion, driven by strong agricultural demand.