2023 Q2 Paraguay Global Trade Data Summary: Deficit Spike

Paraguay 2023 Q2 Trade Data Key Takeaways

• Market Trend: Paraguay trade data shows exports slumped 20.3% in Q2 2023, while imports grew 3.9%, flipping to a $459.1M deficit.
• Key Driver: Paraguay import export data reveals soybean/beef volatility and machinery demand drove the gap, with Brazil/China as top partners.
• Strategic Risk: Over 90% export reliance on South America and import dependence on China/Brazil heightens supply chain exposure.

Analysis covers 2023 Q2 based on sanitized customs records from the yTrade database.

Paraguay 2023 Q2 Trade Data Trend Overview

• Paraguay, a major agricultural exporter, saw its Q2 2023 global trade data reflect significant volatility in commodity shipments.
• Paraguay import export data showed exports slumping 20.3% month-on-month to $881.1 million in June, while imports grew 3.9% to $1.34 billion.
• The trade surplus narrowed sharply to a $459.1 million deficit for the quarter as import growth outpaced export revenue.
• The export contraction likely reflects compressed margins for soybean and beef shipments amid high global inventory levels, while import growth signals robust domestic demand for capital goods and energy.

Table: Import Key Metrics (Source: yTrade)

Table: Export Key Metrics (Source: yTrade)

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Paraguay 2023 Q2 Top Trading Products

Paraguay Global Trade Core Summary

Paraguay's exports are dominated by agricultural and resource-based products, with oil seeds and oleaginous fruits (HS 12) making up 36.8% of total exports. Meat (HS 02) and mineral fuels (HS 27) follow at 14.2% and 12.4%, showing a heavy reliance on primary goods. Imports, however, are led by machinery and electronics (HS 85 at 20.5%), along with mineral fuels (HS 27 at 12.7%) and industrial equipment (HS 84 at 12.3%). This highlights Paraguay’s role as a raw material exporter and a buyer of manufactured goods.

Key takeaways:

• Exports are concentrated in agriculture and energy, posing risks from price volatility.
• Imports focus on machinery and industrial inputs, indicating reliance on foreign technology.
• Limited export diversification beyond primary goods suggests vulnerability to commodity cycles.

Paraguay Export-Import Structural Gap

Paraguay’s trade structure shows a clear divide: it exports raw materials (oil seeds, meat, fuels) and imports high-value machinery, vehicles, and chemicals. The overlap in mineral fuels (HS 27) for both exports and imports suggests some domestic processing but not enough to shift the balance. The lack of advanced manufacturing in exports points to missed industrial upgrading opportunities. This gap keeps Paraguay dependent on foreign suppliers for technology and finished goods, while its economy remains tied to commodity exports.

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

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Paraguay 2023 Q2 Top Trading Countries

Paraguay Global Trade Key Patterns

Paraguay's exports are highly concentrated in South America, with Argentina (41.4%, $1.33B) and Brazil (21.3%, $684.8M) dominating. Chile (9.3%) and smaller shares to India, Peru, and the Netherlands show limited diversification. Imports rely heavily on Mainland China (33.3%, $1.22B) and Brazil (25.1%, $923.7M), with the U.S. (8.4%) and Argentina (7.3%) as secondary sources. Key asymmetries:

• Exports are regional (90%+ to South America), while imports are more global (China, U.S., Europe).
• Argentina is both a top export destination and import source, suggesting bilateral trade.
• Brazil is critical for both exports and imports, indicating deep trade integration.

Paraguay Export–Import Geographic Gap

Exports target a narrow regional market, while imports depend on a few key suppliers (China, Brazil, U.S.). The overlap with Brazil and Argentina hints at processing trade or re-export activity. The structure shows upstream dependency (imports concentrated) and downstream focus (exports regionally locked). This imbalance may expose Paraguay to supply chain risks from key import partners.

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 Q2?

Paraguay's top exports in Q2 2023 were oil seeds and oleaginous fruits (36.84%), meat and edible meat offal (14.17%), and mineral fuels (12.35%), collectively accounting for over 60% of total export value.

What are the main products Paraguay imports in 2023 Q2?

Electrical machinery (20.47%), mineral fuels (12.65%), and nuclear/reactor machinery (12.26%) dominated Paraguay’s imports, representing nearly half of all import spending during Q2 2023.

Which countries are the top destinations for Paraguay's exports in 2023 Q2?

Mainland China (33.27%), Brazil (25.11%), and the United States (8.42%) were the primary export markets, receiving over 65% of Paraguay’s total export value in Q2 2023.

Which countries supply most of Paraguay's imports in 2023 Q2?

Argentina (41.36%), Brazil (21.28%), and Chile (9.26%) supplied over 70% of Paraguay’s imports, with Argentina alone accounting for the largest share.

How balanced are Paraguay's export and import markets in 2023 Q2?

Paraguay’s trade surplus narrowed sharply to a $459.1 million deficit in Q2 2023, as exports fell 20.3% month-on-month while imports grew 3.9%, reflecting weaker commodity demand and strong domestic consumption.

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