2024 Aug Paraguay Trade Data Summary: Exports Plunge

Paraguay 2024 Aug Trade Data Key Takeaways

• Market Trend: Paraguay trade data shows exports plunged 17.05% YoY in Aug 2024, widening the trade deficit to $517.78M.
• Key Driver: Paraguay import export data reveals over 50% of exports rely on Brazil and Argentina, with agriculture (oil seeds, meat) dominating.
• Strategic Risk: Export concentration in raw materials and regional markets exposes Paraguay to commodity price swings and Mercosur policy shifts.

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

Paraguay 2024 Aug Trade Data Trend Overview

• Paraguay, a key agricultural exporter and Mercosur member, posted a mixed August 2024 performance in its Paraguay global trade data, reflecting broader regional headwinds and sector-specific pressures.
• The August Paraguay import export data shows exports contracting 17.05% year-on-year to $902.22M, while imports held relatively steady at $1.42B, down just 0.5% from the prior year.
• This resulted in a trade deficit of approximately $517.78M for the month, underscoring a challenging period for the nation's external accounts.
• The sharp export decline was primarily driven by lower agricultural commodity shipments and external demand softness, amid ongoing regional trade policy adjustments and US tariff impacts that affected key Paraguayan exports like sugar and wood products [Paraguay Congress Approves Trade Regulation Reforms].

Table: Import Key Metrics (Source: yTrade)

Table: Export Key Metrics (Source: yTrade)

Get Historical Paraguay Trade Data

Paraguay 2024 Aug Top Trading Products

Paraguay Global Trade Core Summary

Paraguay's exports are heavily focused on agriculture and raw materials, with oil seeds (25.3%), meat (17%), and mineral fuels (11%) leading the list. These three categories alone make up over half of total exports, showing a strong reliance on primary goods. Imports, however, are dominated by machinery and industrial products, with electrical machinery (13.7%), nuclear reactors (12.3%), and vehicles (9.4%) as top categories. The trade structure highlights Paraguay’s role as a resource supplier while depending on foreign-made equipment and technology.

Key takeaways:

• Agriculture-driven exports—oil seeds, meat, and cereals dominate.
• High import reliance on machinery and industrial goods.
• Limited manufacturing exports—only minor shares in electrical and mechanical equipment.
• Energy trade imbalance—exports and imports both include mineral fuels, suggesting refining or processing gaps.

Paraguay Export-Import Structural Gap

Paraguay’s trade shows a clear divide: it exports raw materials but imports finished goods. The country sells agricultural products (HS 12, 02, 10) and basic industrial inputs (HS 27, 15) but buys machinery (HS 84, 85), vehicles (HS 87), and chemicals (HS 31, 38). This suggests an economy still in the early stages of industrial development, with limited value-added production. Overlaps in mineral fuels (HS 27) hint at potential processing inefficiencies—exporting crude while importing refined products. To reduce dependency, Paraguay could explore upgrading agro-processing or light manufacturing sectors.

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

Check Detailed Paraguay Trade HS Code Breakdown

Paraguay 2024 Aug Top Trading Countries

Paraguay Global Trade Key Patterns

Paraguay's exports are highly concentrated in South America, with Brazil (35.88%) and Argentina (31.87%) accounting for nearly 68% of total exports. Chile (8.66%) and Uruguay (2.15%) add regional depth, while the U.S. (3.37%) and Israel (2.31%) are minor non-regional buyers. Imports show stronger diversification, led by Mainland China (32.54%) and Brazil (25.36%), with Argentina (7.25%) and the U.S. (5.77%) as secondary suppliers. Key asymmetries include:

• Exports rely heavily on two neighbors, while imports source more broadly from Asia, the Middle East, and Europe.
• Brazil is both the top export destination and the second-largest import source.
• China dominates imports but is absent from Paraguay’s top export markets.

Paraguay Export–Import Geographic Gap

Paraguay’s exports are regional (South America-focused), while imports are globally sourced, including China, the U.S., and the UAE. Brazil appears in both lists, suggesting bilateral trade flows. The structure implies downstream diversification in imports but upstream dependency on Brazil and Argentina for exports. The lack of export overlap with China highlights a one-sided trade reliance.

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 Aug?

Paraguay's top exports in August 2024 were oil seeds and oleaginous fruits (25.30% of exports, $228.29M), meat and edible meat offal (16.99%, $153.24M), and mineral fuels/oils (11.00%, $99.20M), based on HS code data.

What are the main products Paraguay imports in 2024 Aug?

Paraguay primarily imported electrical machinery/equipment (13.72%, $194.94M), nuclear reactors/machinery (12.29%, $174.63M), and mineral fuels/oils (10.20%, $145.01M) in August 2024, per HS code analysis.

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

Mainland China received 32.54% ($462.34M) of Paraguay's exports in August 2024, followed by Brazil (25.36%, $360.40M) and Argentina (7.25%, $102.96M), according to country trade data.

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

Brazil (35.88%, $323.68M) and Argentina (31.87%, $287.51M) were Paraguay's largest import sources in August 2024, with Chile (8.66%, $78.17M) ranking third based on origin country data.

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

Paraguay recorded a $517.78M trade deficit in August 2024, with exports declining 17.05% to $902.22M while imports remained steady at $1.42B (-0.5% year-on-year), reflecting agricultural export pressures.