2023 Jun Paraguay Global Trade Data Summary: Export Drop Widens Deficit

Paraguay 2023 Jun Trade Data Key Takeaways

• Market Trend: Paraguay trade data shows an 8.7% export drop in Jun 2023, widening the deficit to $458.9 million.
• Key Driver: Paraguay import export data reveals 55% of exports rely on oil seeds, meat, and fuels, exposing volatility risks.
• Strategic Risk: Regional export concentration (67% to Argentina/Brazil/Chile) clashes with global import dependencies (China/Brazil).

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

Paraguay 2023 Jun Trade Data Trend Overview

• Paraguay, a key South American commodities exporter, posted a June 2023 trade deficit of $458.9 million, reflecting subdued external demand and lower import volumes.
• June 2023 Paraguay import export data shows exports fell 8.7% year-on-year to $881.1 million, while imports dropped 5.1% to $1.34 billion, indicating broad-based trade softness.
• The monthly trade deficit widened significantly from year-earlier levels, pressured by weaker agricultural export earnings and steady consumption-linked imports.
• No major trade policy shifts were reported, suggesting the contraction stemmed from cyclical factors like global commodity price adjustments and slower regional economic activity.

Table: Import Key Metrics (Source: yTrade)

Table: Export Key Metrics (Source: yTrade)

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Paraguay 2023 Jun Top Trading Products

Paraguay Global Trade Core Summary

Paraguay's exports are heavily focused on agricultural and raw materials, with oil seeds, meat, and mineral fuels making up over 55% of total exports. The top three export categories—HS 12, 02, and 27—account for nearly 55% of export value, showing strong reliance on primary goods. Imports, however, are dominated by machinery, electrical equipment, and fuels, with HS 85 (electrical machinery) alone representing 18% of imports. This highlights a clear divide: Paraguay exports low-processed goods while importing high-value manufactured and industrial products. Key takeaways:

• Heavy dependence on agricultural and mineral exports exposes the economy to commodity price swings.
• Limited export diversification beyond primary goods raises vulnerability risks.
• High import reliance on machinery and fuels suggests gaps in domestic industrial capacity.

Paraguay Export-Import Structural Gap

Paraguay’s trade structure shows a classic resource-driven economy, exporting raw materials while importing finished goods. The overlap in HS 27 (mineral fuels) for both exports and imports indicates some domestic processing but likely not at a high value-added level. The import dominance of machinery (HS 84, 85) and vehicles (HS 87) points to a lack of advanced manufacturing capability. This gap suggests opportunities for industrial upgrading, particularly in agro-processing or light manufacturing, to reduce reliance on imported machinery. The trade imbalance in high-value goods underscores the need for investment in domestic production.

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

Check Detailed Paraguay Trade HS Code Breakdown

Paraguay 2023 Jun Top Trading Countries

Paraguay Global Trade Key Patterns

Paraguay's exports are highly concentrated in South America, with Argentina (29.3%) and Brazil (27.0%) accounting for over half of total shipments. Chile (11.5%) is the third-largest destination, while other markets like the Netherlands, the U.S., and India each represent around 2%. Imports show stronger reliance on a few suppliers: Mainland China (30.8%) and Brazil (24.6%) dominate, followed by the U.S. (9.2%) and Argentina (8.1%). Key takeaways:

• Exports are regional, with 67% going to Argentina, Brazil, and Chile.
• Imports are more diversified but still heavily dependent on China and Brazil.
• Trade asymmetry: Paraguay exports regionally but imports globally, with Asia and Europe playing larger roles in supply.

Paraguay Export–Import Geographic Gap

Exports flow mainly to neighboring countries, while imports come from a mix of global suppliers, including China, the U.S., and India. Brazil and Argentina appear in both top export and import lists, suggesting bilateral trade ties. The structure shows downstream diversification in exports (regional) but upstream dependency in imports (global). This gap highlights Paraguay’s role as a regional supplier with broader sourcing 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 Jun?

Paraguay's top exports in June 2023 were oil seeds and oleaginous fruits (24.97% share, $220.01M), meat and edible offal (15.85%, $139.64M), and mineral fuels/oils (14.74%, $129.88M), per HS code data.

What are the main products Paraguay imports in 2023 Jun?

Electrical machinery/equipment (18.24%, $243.65M), mineral fuels/oils (15.58%, $208.14M), and nuclear reactors/machinery (11.37%, $151.84M) were Paraguay’s leading imports by HS code.

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

Mainland China (30.75%, $410.78M), Brazil (24.59%, $328.53M), and the United States (9.19%, $122.75M) were the largest export destinations, according to country trade data.

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

Argentina (29.29%, $258.04M), Brazil (26.97%, $237.64M), and Chile (11.45%, $100.90M) dominated Paraguay’s import supply chain.

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

Paraguay recorded a $458.9M trade deficit in June 2023, with exports falling 8.7% YoY to $881.1M and imports declining 5.1% to $1.34B, reflecting weaker commodity demand and regional economic softness.