2024 Apr Paraguay Trade Data: Deficit Widens

Paraguay 2024 Apr Trade Data Key Takeaways

• Market Trend: Paraguay trade data shows exports down 16% YoY while imports surge 38%, widening deficit to $420M.
• Key Driver: Paraguay import export data reveals heavy reliance on agricultural exports (oil seeds, meat) and machinery imports from China/Brazil.
• Strategic Risk: Export concentration in raw materials and regional markets leaves economy exposed to commodity price swings.

Analysis covers 2024 Apr based on sanitized customs records from the yTrade database.

Paraguay 2024 Apr Trade Data Trend Overview

• Paraguay, a landlocked agricultural and energy exporter within Mercosur, saw its April 2024 Paraguay global trade data reflect a period of significant import pressure against a backdrop of contracting exports.
• The nation's April 2024 Paraguay import export data showed exports valued at $1.04B, a sharp 16.0% contraction year-on-year, while imports surged 37.8% to $1.46B.
• This divergence in trade flows resulted in a monthly trade deficit of approximately $420 million, a stark reversal from the surpluses typically driven by its commodity shipments.
• The import surge was likely driven by capital goods and intermediate products for its industrial and agricultural sectors, as the government pursued investment to overcome infrastructural limitations and boost economic diversification [EY].

Table: Import Key Metrics (Source: yTrade)

Table: Export Key Metrics (Source: yTrade)

Get Historical Paraguay Trade Data

Paraguay 2024 Apr Top Trading Products

Paraguay Global Trade Core Summary

Paraguay's exports are heavily focused on agriculture and raw materials, with oil seeds (32.68%), meat (13.74%), and mineral fuels (10.42%) dominating. These three categories alone make up over half of total exports, showing strong reliance on primary goods. Imports, however, are led by machinery and industrial products, with electrical machinery (19.88%), mineral fuels (13.46%), and industrial equipment (11.66%) as top categories. The trade structure highlights a clear divide: Paraguay exports low-processed goods while importing high-value manufactured and technical products.

Key takeaways:

• Heavy dependence on agricultural exports poses vulnerability to price swings.
• Limited export diversification beyond raw materials.
• High import reliance on machinery and fuel signals industrial dependency.

Paraguay Export-Import Structural Gap

Paraguay’s trade gap shows a classic resource-driven economy: it sells raw materials (crops, meat, fuels) but buys back finished goods (machinery, vehicles, chemicals). The overlap in mineral fuels (both exported and imported) suggests some domestic processing but not enough to shift the balance. The lack of high-value exports in machinery or tech sectors points to limited industrial development. To reduce dependency, Paraguay could explore adding value to its agricultural exports or expanding light manufacturing. The current structure keeps the economy exposed to commodity price risks.

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

Check Detailed Paraguay Trade HS Code Breakdown

Paraguay 2024 Apr Top Trading Countries

Paraguay Global Trade Key Patterns

Paraguay's exports are highly concentrated, with Argentina (32.77%) and Brazil (31.22%) accounting for nearly two-thirds of total shipments. Chile (8.63%) and the U.S. (2.73%) are secondary markets, while the rest of the top 10 destinations each hold under 2% share. Imports show similar reliance on a few suppliers: Mainland China (32.58%) and Brazil (24.19%) dominate, followed by Argentina (7.36%) and the U.S. (7.15%). Key asymmetries include:

• Exports are South America-centric, with 72.62% going to Argentina, Brazil, and Chile.
• Imports depend heavily on China and Brazil, which supply 56.77% of goods.
• The U.S. and India appear in both top 10 lists, suggesting some processing trade.

Paraguay Export–Import Geographic Gap

Exports target neighboring South American markets, while imports rely on distant suppliers like China and regional partners like Brazil. The structure shows upstream dependency (imports concentrated in few origins) and downstream diversification (exports spread slightly beyond core neighbors). Overlap with Brazil and Argentina in both lists indicates integrated regional supply chains. Trade remains lopsided, with imports more diversified than exports but still dominated by two key suppliers.

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 2024 Apr?

Paraguay's top exports in April 2024 were oil seeds and oleaginous fruits (32.68% of exports, $338.25M), meat and edible meat offal (13.74%, $142.21M), and mineral fuels (10.42%, $107.86M), based on HS code data.

What are the main products Paraguay imports in 2024 Apr?

Electrical machinery and equipment (19.88%, $289.28M), mineral fuels (13.46%, $195.91M), and nuclear reactors/machinery (11.66%, $169.69M) were Paraguay's leading imports in April 2024.

Which countries are the top destinations for Paraguay's exports in 2024 Apr?

Mainland China (32.58%, $474.28M), Brazil (24.19%, $352.04M), and Argentina (7.36%, $107.18M) were the primary export destinations for Paraguay in April 2024.

Which countries supply most of Paraguay's imports in 2024 Apr?

Argentina (32.77%, $339.13M), Brazil (31.22%, $323.17M), and Chile (8.63%, $89.31M) accounted for the majority of Paraguay's imports during April 2024.

How balanced are Paraguay's export and import markets in 2024 Apr?

Paraguay faced a $420M trade deficit in April 2024, with exports contracting 16.0% ($1.04B) while imports surged 37.8% ($1.46B), reversing its typical surplus trend.