2023 Whole Year Paraguay Global Trade Data Summary: Deficit Widens

Paraguay 2023 Trade Data Key Takeaways

• Market Trend: Paraguay trade data shows a -$3.4B deficit in 2023, driven by strong import demand outpacing commodity exports.
• Key Driver: Paraguay import export data reveals agricultural exports (HS 12, 02) dominate, while industrial machinery (HS 84, 85) leads imports.
• Strategic Risk: Regional export concentration (70% to Argentina/Brazil) and import reliance on China expose supply chain vulnerabilities.

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

Paraguay 2023 Trade Data Overview

• Paraguay, a landlocked agricultural and energy exporter within MERCOSUR, demonstrated resilience in its 2023 Paraguay global trade data, navigating global headwinds to post a significant annual surplus.
• Full-year Paraguay import export data shows exports reached $12.1 billion, while imports totaled $15.5 billion, with trade flows exhibiting strong seasonal volatility typical of commodity-driven economies.
• This activity resulted in a substantial trade deficit of approximately -$3.4 billion for the year, underscoring the nation's heavy reliance on imported capital goods and consumer products.
• The deficit was primarily driven by sustained import demand for industrial inputs and machinery, reflecting ongoing domestic investment and consumption, which outpaced the growth of key agricultural and energy exports.

Table: Import Key Metrics (Source: yTrade)

Table: Export Key Metrics (Source: yTrade)

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Paraguay 2023 Top Trading Products

Paraguay Global Trade Core Summary

Paraguay's exports are heavily focused on agricultural and resource-based products, with oil seeds, meat, and mineral fuels making up over 57% of total exports. The top categories—HS 12 (30.6%), HS 02 (13.7%), and HS 27 (13.2%)—highlight a reliance on raw materials and primary goods. Imports, however, are dominated by industrial and manufactured goods, led by electrical machinery (HS 85, 20.4%) and machinery/mechanical appliances (HS 84, 11.8%). This contrast shows Paraguay’s role as a supplier of raw materials while depending on foreign-made equipment and technology.

Key takeaways:

• Agricultural dominance: Exports are concentrated in crops, meat, and fuels.
• Industrial import reliance: Machinery and electronics dominate imports.
• Low value-add exports: Limited presence of processed or high-tech goods in exports.
• Vulnerability: Heavy dependence on a few export categories raises economic risks.

Paraguay Export-Import Structural Gap

Paraguay’s trade gap reveals a clear imbalance: it exports raw materials but imports finished goods. For example, while it sells oil seeds (HS 12) and meat (HS 02), it buys machinery (HS 84) and vehicles (HS 87). The overlap in mineral fuels (HS 27) suggests some processing, but the high import share of electrical machinery (HS 85) points to weak domestic manufacturing. The lack of advanced exports signals limited industrial upgrading. To reduce dependency, Paraguay could focus on adding value to its agricultural exports.

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

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Paraguay 2023 Top Trading Countries

Paraguay Global Trade Key Patterns

Paraguay's exports are heavily concentrated in South America, with Argentina (37%), Brazil (25%), and Chile (10%) accounting for over 70% of total exports. The U.S., Russia, and the Netherlands are minor markets, each below 3%. Imports show stronger dependence on a few suppliers: Mainland China (34%) and Brazil (24%) dominate, followed by the U.S. (8%) and Argentina (7%). Key takeaways:

• Exports are regional, focused on neighboring South American markets.
• Imports rely on two major suppliers (China and Brazil) for nearly 60% of inflows.
• Limited overlap in trade partners, with only Brazil and Argentina appearing in both top 3 lists.

Paraguay Export–Import Geographic Gap

Paraguay’s trade structure shows clear regional export focus but broader import sourcing. Exports flow mainly to nearby countries, while imports come from distant suppliers like China and the U.S. Brazil and Argentina are the only overlapping partners, suggesting some processing trade. The gap highlights upstream dependency on China and Brazil for inputs, while downstream sales stay within South America. This imbalance may expose Paraguay to supply chain risks from key suppliers.

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 Whole Year?

Paraguay's top exports in 2023 were oil seeds and oleaginous fruits (30.59% of exports), meat and edible meat offal (13.68%), and mineral fuels (13.22%). These three categories accounted for over half of total export value.

What are the main products Paraguay imports in 2023 Whole Year?

Electrical machinery (20.37% of imports), mineral fuels (13.08%), and nuclear reactors/machinery (11.81%) were Paraguay's largest import categories. These industrial goods dominated the import market.

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

Mainland China received 33.64% of Paraguay's exports, followed by Brazil (24.41%) and the United States (7.92%). These three markets accounted for nearly two-thirds of export value.

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

Argentina provided 37.03% of Paraguay's imports, with Brazil (25.34%) and Chile (9.51%) as other key suppliers. Neighboring MERCOSUR nations dominated import flows.

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

Paraguay recorded a $3.4 billion trade deficit in 2023, with $12.1 billion in exports versus $15.5 billion in imports. The gap reflects heavy reliance on imported industrial goods.