2023 Jan Paraguay Global Trade Data Summary: Widening Deficit

Paraguay 2023 Jan Trade Data Key Takeaways

• Market Trend: Paraguay trade data shows exports up 6.3% but imports grew faster (8.4%), widening the deficit to $774.6M.
• Key Driver: Paraguay import export data reveals Brazil dominates exports (43.7%) while China leads imports (35.8%).
• Strategic Risk: Heavy reliance on commodity exports (meat, fuels, cereals) exposes economy to price volatility.

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

Paraguay 2023 Jan Trade Data Trend Overview

• Paraguay, a key South American agricultural and hydropower exporter, opened 2023 with mixed results in its global trade data, reflecting its role as a commodity-driven economy.
• January's Paraguay import export data showed exports climbing 6.3% year-on-year to $535.4 million, while imports grew at a faster 8.4% to $1.31 billion, indicating robust domestic demand for foreign goods.
• The widening gap resulted in a monthly trade deficit of approximately $774.6 million, pressuring the current account.
• The sustained import growth, absent specific trade news, likely stemmed from capital goods purchases and energy needs, consistent with ongoing industrial and infrastructure development.

Table: Import Key Metrics (Source: yTrade)

Table: Export Key Metrics (Source: yTrade)

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Paraguay 2023 Jan Top Trading Products

Paraguay Global Trade Core Summary

Paraguay's exports are heavily resource-driven, with meat (21%), mineral fuels (20%), and cereals (17%) dominating. These three categories alone make up nearly 60% of total exports, showing high concentration. Imports are more diversified but led by electrical machinery (23%), mineral fuels (18%), and industrial machinery (11%). The country relies on foreign machinery and equipment while exporting raw and semi-processed goods. Key takeaways:

• High export dependence on agriculture and energy sectors.
• Imports focus on industrial and technological goods.
• Limited export diversification increases vulnerability to commodity price swings.

Paraguay Export-Import Structural Gap

Paraguay’s trade shows a clear resource-for-technology exchange. It exports raw materials like meat, grains, and fuels but imports machinery, electronics, and vehicles. The overlap in mineral fuels (both exported and imported) suggests some processing or re-export activity. The lack of high-value manufactured exports highlights an opportunity to move up the value chain. The import-heavy machinery sector signals reliance on foreign technology for domestic production.

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

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Paraguay 2023 Jan Top Trading Countries

Paraguay Global Trade Key Patterns

Paraguay's exports are heavily concentrated in South America, with Brazil alone accounting for 43.7% of shipments ($233.7M). Chile (15.6%) and Argentina (14.4%) are other major regional buyers, while the US (3.7%) is the only non-Latin American destination in the top five. Imports show greater diversity, though Mainland China dominates with 35.8% ($467.4M), followed by Brazil (20.6%) and the US (13.4%). Key asymmetries include:

• Exports are regionally focused (76% to Brazil/Chile/Argentina)
• Imports rely on China but have broader sourcing (top 3 suppliers = 69.7%)
• Brazil appears in both lists, suggesting bilateral trade flows

Paraguay Export–Import Geographic Gap

Exports target neighboring markets, while imports draw heavily from distant industrial suppliers like China and the US. The overlap with Brazil in both lists hints at processing trade or cross-border supply chains. Paraguay’s trade structure shows upstream dependency (imports concentrated among few suppliers) and downstream diversification (exports spread across regional partners). This gap reflects typical patterns for smaller economies: regional export markets and global import sourcing.

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 Jan?

Paraguay's top exports in January 2023 were meat and edible meat offal (21.07%), mineral fuels and oils (20.34%), and cereals (16.78%), accounting for over half of total export value.

What are the main products Paraguay imports in 2023 Jan?

Electrical machinery (22.81%), mineral fuels/oils (17.90%), and nuclear/reactor machinery (10.95%) dominated Paraguay’s imports, reflecting industrial and energy needs.

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

Mainland China (35.75%), Brazil (20.62%), and the United States (13.36%) were Paraguay’s largest export markets, collectively representing nearly 70% of shipments.

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

Brazil (43.65%), Chile (15.56%), and Argentina (14.40%) supplied over 70% of Paraguay’s imports, highlighting regional trade dependencies.

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

Paraguay faced a $774.6M trade deficit as imports ($1.31B) grew faster (8.4%) than exports ($535.4M, +6.3%), driven by capital goods and energy demand.