2023 Oct Paraguay Global Trade Data Summary: Export Surge

Paraguay 2023 Oct Trade Data Key Takeaways

• Market Trend: Paraguay trade data shows exports surged 43.9% YoY, narrowing the trade deficit to $440M in Oct 2023.
• Key Driver: Paraguay import export data reveals soybeans, beef, and electricity drove growth, with 70% exports to Argentina/Brazil.
• Strategic Risk: Heavy reliance on raw material exports and regional markets leaves economy exposed to commodity swings.

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

Paraguay 2023 Oct Trade Data Trend Overview

• Paraguay, a key South American agricultural and hydroelectric power, saw its October 2023 Paraguay global trade data reflect a surge in export-led activity.
• The nation's Paraguay import export data for the period shows exports surged 43.9% YoY to $1.06 billion, while imports grew 20.4% to $1.50 billion.
• This resulted in a trade deficit of $440 million, a significant narrowing from the year-earlier period on the strength of the export rebound.
• The export boom was primarily driven by robust shipments of soybeans, beef, and electricity, with no specific trade policy shifts announced to alter these underlying commodity flows.

Table: Import Key Metrics (Source: yTrade)

Table: Export Key Metrics (Source: yTrade)

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Paraguay 2023 Oct Top Trading Products

Paraguay Global Trade Core Summary

Paraguay's exports are heavily focused on agricultural and raw materials, with oil seeds, cereals, and mineral fuels making up over 56% of total exports. Meat, animal feed, and fats add another 25%, showing a strong reliance on primary goods. In contrast, imports are dominated by machinery, electronics, and industrial inputs, with electrical equipment alone accounting for 22% of imports. The country also imports significant amounts of fuel, vehicles, and chemicals, highlighting a dependence on foreign manufacturing and technology.

Key takeaways:

• Exports are concentrated in low-value agricultural and mineral products.
• Imports are skewed toward high-value machinery and industrial goods.
• Limited export diversification increases vulnerability to commodity price swings.
• Heavy reliance on imported machinery suggests weak domestic manufacturing.

Paraguay Export-Import Structural Gap

Paraguay’s trade structure shows a clear divide: it exports raw materials but imports finished goods. The top exports (HS 12, 10, 27) are unprocessed or minimally processed, while top imports (HS 85, 84, 87) are machinery and electronics. This gap points to an economy reliant on basic production, with limited industrial capacity. Overlap in HS 27 (fuels) and HS 38 (chemicals) suggests some processing activity, but the overall pattern indicates a need for industrial upgrading to reduce import dependence. The trade imbalance in high-value goods underscores Paraguay’s role as a supplier of raw materials rather than a manufacturer.

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

Check Detailed Paraguay Trade HS Code Breakdown

Paraguay 2023 Oct Top Trading Countries

Paraguay Global Trade Key Patterns

Paraguay's exports are highly concentrated in South America, with Argentina (33.3%), Brazil (24.2%), and Chile (11.1%) accounting for nearly 70% of total exports. Smaller shares go to Uruguay, Peru, and distant markets like Russia, the U.S., and Europe. Imports show heavy reliance on Mainland China (33.2%) and Brazil (24.4%), with the U.S. (7.9%) and Argentina (7.3%) as secondary suppliers. Key takeaways:

• Exports are regional, dominated by neighboring South American markets.
• Imports depend heavily on China and Brazil, with limited diversification.
• Trade asymmetry: Exports flow regionally, while imports rely on distant suppliers like China.

Paraguay Export–Import Geographic Gap

Paraguay’s exports target nearby markets, while imports come from a mix of regional and global suppliers. Brazil and Argentina appear in both export and import lists, suggesting some processing trade. The structure shows upstream dependency (imports concentrated in China/Brazil) but downstream diversification (exports spread across South America). Imports are more global, with Asia, Europe, and the Middle East contributing, while exports remain narrowly focused on the region.

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 Oct?

Paraguay's top exports in October 2023 were oil seeds and oleaginous fruits (23.88%), cereals (19.18%), mineral fuels (13.00%), and residues from food industries (10.84%), based on HS code data.

What are the main products Paraguay imports in 2023 Oct?

The main imports were electrical machinery (22.27%), mineral fuels (11.73%), nuclear reactors/machinery (11.20%), and vehicles (7.58%), according to HS code classifications.

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

Mainland China (33.15%), Brazil (24.36%), and the United States (7.86%) were the leading export destinations for Paraguay in October 2023.

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

Argentina (33.31%), Brazil (24.20%), and Chile (11.09%) were the primary sources of Paraguay's imports during this period.

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

Paraguay had a trade deficit of $440 million in October 2023, with exports growing 43.9% YoY to $1.06 billion and imports rising 20.4% to $1.50 billion. The deficit narrowed due to strong export performance.