2023 Feb Paraguay Global Trade Data Summary: Exports Rise, Deficit Narrows

Paraguay 2023 Feb Trade Data Key Takeaways

• Market Trend: Paraguay trade data shows exports up 5.3% YoY to $794.5M, imports down 6.7% YoY to $1.08B, narrowing deficit.
• Key Driver: Paraguay import export data reveals oil seeds (33.4% of exports) and machinery (20.7% of imports) dominate trade flows.
• Strategic Risk: Over 60% export reliance on Argentina and Brazil exposes vulnerability to regional demand shocks.

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

Paraguay 2023 Feb Trade Data Trend Overview

• Paraguay, a major agricultural exporter in South America, saw its February 2023 global trade data reflect its typical commodity-driven profile.
• Paraguay import export data for the month showed exports of $794.5M, a 5.3% YoY gain, while imports contracted 6.7% YoY to $1.08B.
• The narrowing import bill against steady exports produced a trade deficit of approximately $285.5M, a significant improvement from prior periods.
• The export strength and import moderation are consistent with typical seasonal agricultural shipments and stable domestic demand, absent any major trade policy shifts.

Table: Import Key Metrics (Source: yTrade)

Table: Export Key Metrics (Source: yTrade)

Get Historical Paraguay Trade Data

Paraguay 2023 Feb Top Trading Products

Paraguay Global Trade Core Summary

Paraguay's exports are heavily focused on agricultural and raw materials, with oil seeds (33.4%), mineral fuels (15.6%), and meat (14.1%) dominating. These three categories alone make up over 60% of total exports, showing high reliance on primary goods. Imports, however, are led by machinery and electrical equipment (20.7% and 12.3%), along with mineral fuels (11.3%), indicating a need for industrial inputs and energy. The trade structure reveals a resource-driven export economy with limited manufacturing presence.

Key takeaways:

• High dependence on agricultural exports (oil seeds, meat, cereals).
• Minimal export diversification beyond raw materials.
• Heavy imports of machinery and equipment suggest industrial reliance on foreign supply.

Paraguay Export-Import Structural Gap

Paraguay exports mostly raw materials but imports finished goods, especially machinery and vehicles. This gap highlights an economy reliant on primary production rather than value-added manufacturing. The overlap in mineral fuels (exported and imported) suggests some refining or energy trade activity. The lack of high-value exports in machinery or electronics points to limited industrial upgrading. To reduce import dependence, Paraguay could explore processing its agricultural and mineral resources domestically.

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

Check Detailed Paraguay Trade HS Code Breakdown

Paraguay 2023 Feb Top Trading Countries

Paraguay Global Trade Key Patterns

Paraguay's exports are heavily concentrated in South America, with Argentina (37.6%) and Brazil (31.5%) accounting for nearly 70% of total exports. Chile (9.3%) and Uruguay (1.8%) add to this regional focus, while minor flows go to South Korea (3.4%), the U.S. (1.8%), and India (1.4%). Imports show stronger diversification but rely heavily on Mainland China (34.2%) and Brazil (22.4%), with Argentina (6.5%) and the U.S. (4.5%) as secondary sources. Key asymmetries include:

• Exports: Dominated by neighboring South American markets.
• Imports: China and Brazil supply over half of imports, with smaller contributions from global suppliers.
• Overlap: Brazil and Argentina appear in both top export and import lists, suggesting integrated regional trade.

Paraguay Export–Import Geographic Gap

Paraguay’s exports are regionally focused, while imports are more globally sourced but still dependent on two key suppliers (China and Brazil). The export structure shows downstream diversification within South America, while imports reveal upstream reliance on a few large economies. Brazil is the only major two-way trade partner, indicating processing or re-export activity. The gap highlights Paraguay’s role as a regional exporter with global import needs.

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 Feb?

Paraguay's top exports in February 2023 were oil seeds and oleaginous fruits (33.39% of total exports), mineral fuels (15.62%), and meat (14.13%), as per HS code data.

What are the main products Paraguay imports in 2023 Feb?

The country primarily imported electrical machinery (20.69%), nuclear reactors/machinery (12.34%), and mineral fuels (11.31%), based on HS code classifications.

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

Mainland China (34.23% of exports), Brazil (22.41%), and Argentina (6.47%) were the leading destinations for Paraguay's exports.

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

Argentina (37.58%), Brazil (31.45%), and Chile (9.27%) were the largest sources of Paraguay's imports.

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

Paraguay's trade deficit narrowed to $285.5M as exports grew 5.3% YoY to $794.5M while imports fell 6.7% to $1.08B, reflecting seasonal agricultural strength.