2023 Nov Paraguay Trade Data Summary: Export Boom

Paraguay 2023 Nov Trade Data Key Takeaways

• Market Trend: Paraguay trade data shows exports surged 30.1% YoY to $992.9M, narrowing the trade deficit sharply.
• Key Driver: Paraguay import export data reveals oil seeds, meat, and cereals dominate exports (56%), with Argentina and Brazil as top buyers.
• Strategic Risk: Hyper-regional export dependence (76% to neighbors) exposes Paraguay to South American demand shocks.

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

Paraguay 2023 Nov Trade Data Trend Overview

• Paraguay, a key agricultural and hydroelectric exporter in South America, released its latest Paraguay global trade data for November 2023.
• Exports surged 30.1% year-on-year to $992.9M, while imports contracted 2.4% to $1.37B, reflecting shifting dynamics in Paraguay import export data.
• The trade deficit narrowed significantly to -$377.1M, a marked improvement from prior periods.
• The export boom was likely driven by strong commodity demand and favorable harvest conditions, with no specific trade policies announced to alter the trend.

Table: Import Key Metrics (Source: yTrade)

Table: Export Key Metrics (Source: yTrade)

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Paraguay 2023 Nov Top Trading Products

Paraguay Global Trade Core Summary

Paraguay's exports are heavily focused on agriculture and raw materials, with oil seeds, meat, and cereals making up over 56% of total exports. Mineral fuels and animal feed add another 20%, reinforcing a resource-driven export structure. In contrast, imports are dominated by machinery, electrical equipment, and vehicles, accounting for nearly 38% of total imports. The country also relies on imported fuels, fertilizers, and chemicals, indicating a need for industrial and agricultural inputs. Key takeaways:

• Exports are concentrated in low-value raw materials, exposing Paraguay to commodity price swings.
• High import dependence on machinery and equipment suggests limited domestic manufacturing capacity.
• Overlapping HS codes (e.g., fuels, chemicals) hint at partial processing trade but no deep industrial integration.

Paraguay Export-Import Structural Gap

Paraguay’s trade gap shows a clear divide: it exports farm goods and raw materials while importing finished machinery and industrial goods. This reflects an agrarian economy with weak manufacturing. The import of fertilizers and fuels alongside agricultural exports suggests inefficiencies in resource use. There’s minimal overlap in high-value export-import categories, signaling no major industrial upgrading. The structural gap highlights Paraguay’s role as a commodity supplier, not a value-added producer.

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

Check Detailed Paraguay Trade HS Code Breakdown

Paraguay 2023 Nov Top Trading Countries

Paraguay Global Trade Key Patterns

Paraguay's exports are heavily concentrated in South America, with Argentina (38.6%), Brazil (27.2%), and Chile (10.4%) accounting for over 76% of total exports. The U.S. and Russia are minor markets, each representing less than 2%. Imports show stronger diversification, though Mainland China (32.7%) and Brazil (26.8%) dominate, followed by Argentina (6.5%) and the U.S. (5.5%). Key asymmetries include:

• Exports are regional, with 80%+ going to neighboring countries.
• Imports rely on two major suppliers (China + Brazil = 59.5%).
• Limited overlap—only Brazil and Argentina appear in both top 3 lists.

Paraguay Export–Import Geographic Gap

Exports are hyper-regional, while imports combine regional (Brazil, Argentina) and global (China, U.S., Switzerland) sourcing. Brazil is the only critical two-way trade partner, suggesting some processing trade. The structure implies downstream diversification in imports (despite China’s dominance) but upstream dependence on South American buyers for exports. No clear global export footprint exists beyond the region.

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 Nov?

Paraguay's top exports in November 2023 were oil seeds and oleaginous fruits (26.05%, $258.64M), meat and edible meat offal (17.47%, $173.42M), and mineral fuels (13.30%, $132.05M), based on HS code data.

What are the main products Paraguay imports in 2023 Nov?

Paraguay primarily imported electrical machinery (18.13%, $249.19M), nuclear reactors/machinery (11.47%, $157.68M), and mineral fuels (11.37%, $156.21M) in November 2023, per HS code analysis.

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

Mainland China (32.69%, $449.23M), Brazil (26.78%, $368.02M), and Argentina (6.50%, $89.28M) were the leading export destinations for Paraguay in November 2023.

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

Argentina (38.62%, $383.48M), Brazil (27.16%, $269.70M), and Chile (10.40%, $103.27M) were the primary sources of Paraguay's imports during November 2023.

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

Paraguay's trade deficit narrowed to -$377.1M in November 2023, with exports surging 30.1% ($992.9M) and imports contracting 2.4% ($1.37B), reflecting improved trade dynamics.