2023 Mar Paraguay Trade Data Summary: Exports Surge 45.3%

Paraguay 2023 Mar Trade Data Key Takeaways

• Market Trend: Paraguay trade data shows exports surged 45.3% YoY, narrowing the deficit to $70M in Mar 2023.
• Key Driver: Paraguay import export data reveals soybeans (HS 12) dominate exports, while electrical machinery (HS 85) leads imports.
• Strategic Risk: Over 50% export reliance on Argentina exposes trade to regional demand shocks.

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

Paraguay 2023 Mar Trade Data Trend Overview

• Paraguay, a major South American agricultural and hydropower exporter, posted robust Paraguay global trade data for March 2023, reflecting its role as a key regional commodity supplier.
• The Paraguay import export data showed exports surging 45.3% year-on-year to $1.33 billion, while imports grew a more moderate 10.1% to $1.40 billion.
• This resulted in a narrowed trade deficit of approximately $70 million, a significant improvement from the prior-year period.
• The export boom was primarily driven by strong global demand for soybeans, beef, and electricity, with no specific trade policies or disruptions reported during the period.

Table: Import Key Metrics (Source: yTrade)

Table: Export Key Metrics (Source: yTrade)

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Paraguay 2023 Mar Top Trading Products

Paraguay Global Trade Core Summary

Paraguay's exports are heavily concentrated in agriculture and raw materials, with oil seeds and oleaginous fruits (HS 12) alone making up 50.88% of total exports. Other key exports include mineral fuels (HS 27, 10.44%) and meat (HS 02, 9.14%), reinforcing a resource-driven trade profile. Imports, however, are dominated by machinery and industrial goods, led by electrical machinery (HS 85, 18.59%) and mineral fuels (HS 27, 17.05%). This shows Paraguay relies on imports for manufactured and high-value goods while exporting low-processed commodities.

Key takeaways:

• High dependence on a single export category (HS 12) poses economic risk.
• Imports are more diversified, focusing on industrial and technological needs.
• Limited export diversification suggests vulnerability to commodity price swings.

Paraguay Export-Import Structural Gap

Paraguay’s trade structure highlights a clear gap: it exports raw materials (agriculture, minerals) but imports finished and industrial goods (machinery, vehicles). For example, electrical machinery (HS 85) is both a top import and a minor export, indicating limited local manufacturing capacity. The overlap in mineral fuels (HS 27) as both an export and import suggests some refining or re-export activity. The country’s trade position reflects a classic resource-based economy, with room to move up the value chain by processing more of its raw materials domestically.

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

Check Detailed Paraguay Trade HS Code Breakdown

Paraguay 2023 Mar Top Trading Countries

Paraguay Global Trade Key Patterns

Paraguay's exports are heavily concentrated in Argentina, which accounts for 56.6% of total exports, followed by Brazil (17.4%) and Chile (5.1%). This shows a strong regional focus in South America, with limited diversification. Imports, however, rely heavily on Mainland China (32.6%) and Brazil (24.1%), with Argentina (7.1%) and the U.S. (6.2%) as secondary sources. The trade structure reveals a clear asymmetry: exports are dominated by a single neighbor, while imports depend on a mix of global and regional suppliers. Key takeaways:

• Exports are highly concentrated in Argentina.
• Imports are more diversified but still reliant on China and Brazil.
• Regional trade dominates exports, while imports include global players.
• Limited overlap in top trade partners, except for Brazil and Argentina.

Paraguay Export–Import Geographic Gap

Paraguay’s exports are narrowly focused on South America, particularly Argentina, while imports come from a broader mix of global suppliers. This suggests downstream dependency on a few regional buyers but upstream diversification in sourcing. The overlap with Brazil and Argentina in both exports and imports hints at some processing trade or re-export activity. The structure implies vulnerability in export markets due to over-reliance on Argentina, while import sourcing is more resilient. Overall, Paraguay’s trade flows show a clear regional export bias and a more global import base.

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

Get Complete Paraguay Trading Patner Countries Profile

Frequently Asked Questions

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

Paraguay's top exports in March 2023 were oil seeds and oleaginous fruits (50.88% of total exports), mineral fuels (10.44%), and meat (9.14%), based on HS code data.

What are the main products Paraguay imports in 2023 Mar?

Paraguay primarily imported electrical machinery (18.59%), mineral fuels (17.05%), and nuclear/reactor machinery (12.27%) in March 2023, per HS code analysis.

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

Mainland China (32.56%), Brazil (24.14%), and Argentina (7.07%) were the leading export destinations for Paraguay in March 2023, according to trade data.

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

Argentina (56.60%), Brazil (17.38%), and Chile (5.07%) were Paraguay's largest import sources in March 2023, as per country trade statistics.

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

Paraguay's trade deficit narrowed to $70 million in March 2023, with exports surging 45.3% ($1.33B) and imports growing moderately by 10.1% ($1.40B), reflecting improved trade balance.