2023 Q4 Paraguay Global Trade Data Summary: Volatile Growth

Paraguay 2023 Q4 Trade Data Key Takeaways

• Market Trend: Paraguay trade data shows volatile Q4 2023 with a 10.5% monthly export drop but 33% annual growth.
• Key Driver: Paraguay import export data reveals agriculture (53% of exports) and regional reliance on Argentina/Brazil as top partners.
• Strategic Risk: Narrow export base and import concentration on China/Brazil expose economy to commodity price swings.

Analysis covers 2023 Q4 based on sanitized customs records from the yTrade database.

Paraguay 2023 Q4 Trade Data Trend Overview

• Export-driven agricultural and energy hub Paraguay posted mixed Q4 2023 global trade data, with a notable quarter-end slump capping a year of robust annual growth.
• Paraguay import export data showed a sharp 10.5% monthly export contraction in December to $889M, though this still represented a strong 33% annual gain, while imports rose 7.0% monthly to $1.47B.
• The quarterly trade surplus narrowed significantly to approximately -$581M as the value of goods imported outpaced exports during the period.
• The year-end volatility reflects typical commodity-driven swings and strong domestic demand, supported by government policies aimed at boosting foreign investment and improving the business climate [Paraguayan Government Policies].

Table: Import Key Metrics (Source: yTrade)

Table: Export Key Metrics (Source: yTrade)

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Paraguay 2023 Q4 Top Trading Products

Paraguay Global Trade Core Summary

Paraguay's exports are heavily focused on agriculture and raw materials, with oil seeds (23%), cereals (15%), and meat (14%) leading the way. These three categories alone make up over half of total exports. Mineral fuels and animal feed add another 23%, showing a strong reliance on primary products. Imports are dominated by machinery and electronics (21%), industrial equipment (12%), and fuel (11%), indicating a need for manufactured goods and energy. The trade structure reveals a classic resource-based economy with limited high-value exports.

Key takeaways:

• Agriculture drives 53% of export earnings
• Heavy import dependence on machinery and fuel
• Minimal export diversification beyond raw materials

Paraguay Export-Import Structural Gap

Paraguay sends out mostly unprocessed farm goods and brings in finished industrial products, creating a clear trade gap. The country exports basic commodities like grains and meat but buys back expensive machinery, vehicles, and electronics. Some overlap exists in mineral fuels (both exported and imported) and chemicals, suggesting minor processing activity. The pattern shows Paraguay remains a price-taker for both its commodity sales and manufactured purchases, with few signs of moving up the value chain. This leaves the economy exposed to global price swings in food and fuel markets.

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

Check Detailed Paraguay Trade HS Code Breakdown

Paraguay 2023 Q4 Top Trading Countries

Paraguay Global Trade Key Patterns

Paraguay's exports are heavily concentrated in South America, with Argentina (36.7%), Brazil (26.7%), and Chile (10.1%) accounting for over 73% of total exports. The U.S. and Russia are the only non-regional destinations in the top five. Imports show a different pattern, with Mainland China (34.3%) and Brazil (25.2%) dominating, followed by Argentina (6.8%) and the U.S. (6.6%). Key takeaways:

• Exports are regional, with South America absorbing most shipments.
• Imports rely heavily on China and Brazil, indicating supplier concentration.
• Limited overlap in top trade partners, except for Brazil and Argentina.
• Low export diversification beyond neighboring markets.

Paraguay Export–Import Geographic Gap

Paraguay’s exports are narrowly focused on South America, while imports come from a slightly broader mix, including China, the U.S., and Europe. The trade structure suggests upstream dependency on a few key suppliers (China, Brazil) and downstream reliance on regional buyers. There is minimal overlap in top partners, with only Brazil and Argentina appearing in both lists. This points to limited processing trade and a clear divide between supply sources and sales markets. The gap highlights Paraguay’s role as a regional exporter with global import 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 Q4?

Paraguay's top exports in Q4 2023 were oil seeds and oleaginous fruits (23.02% of exports, $677.18M), cereals (15.48%, $455.45M), and meat products (14.18%, $417.07M), according to HS code data.

What are the main products Paraguay imports in 2023 Q4?

The country primarily imported electrical machinery (21.79%, $947.05M), nuclear/reactor machinery (11.62%, $504.83M), and mineral fuels (11.46%, $498.17M) during this period.

Which countries are the top destinations for Paraguay's exports in 2023 Q4?

Mainland China received 34.32% ($1.49B) of Paraguay's exports, followed by Brazil (25.18%, $1.09B) and Argentina (6.77%, $294.09M), per trade data.

Which countries supply most of Paraguay's imports in 2023 Q4?

Argentina was Paraguay's largest import source (36.68%, $1.08B), with Brazil (26.67%, $784.72M) and Chile (10.07%, $296.33M) as other key suppliers.

How balanced are Paraguay's export and import markets in 2023 Q4?

Paraguay's Q4 2023 trade surplus narrowed to -$581M as imports ($1.47B) outpaced exports ($889M), reflecting commodity-driven volatility despite strong annual export growth (33%).

Detailed Monthly Report

Paraguay Trade Data Snapshot 2023 OCT

Paraguay Trade Data Snapshot 2023 NOV

Paraguay Trade Data Snapshot 2023 DEC