2024 Jan Paraguay Trade Data Summary: Export Boom & Risks

Paraguay 2024 Jan Trade Data Key Takeaways

• Market Trend: Paraguay trade data shows exports surged 64.4% YoY to $880M, driven by agricultural commodities under Mercosur.
• Key Driver: Paraguay import export data reveals oil seeds (HS 12) dominate exports (33%), while China supplies 36.3% of machinery-heavy imports.
• Strategic Risk: Hyper-regional export dependence (74% to Argentina/Brazil) contrasts with diversified import sourcing, exposing upstream vulnerabilities.

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

Paraguay 2024 Jan Trade Data Trend Overview

• Paraguay, a Mercosur agricultural export hub, kicked off 2024 with a powerful surge in its global trade data, signaling robust economic momentum from its commodity-driven model.
• The latest Paraguay import export data reveals exports soared to $880.24 million, a striking 64.4% year-on-year expansion, while imports grew 11.5% to $1.46 billion, reflecting strong domestic and external demand.
• This resulted in a trade deficit of approximately $579.76 million for January, as import growth—though solid—was outpaced by the exceptional export performance.
• The explosive export growth was likely driven by strong agricultural shipments, particularly soybeans, bolstered by Mercosur's trade frameworks and favorable global prices for Paraguayan commodities.

Table: Import Key Metrics (Source: yTrade)

Table: Export Key Metrics (Source: yTrade)

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Paraguay 2024 Jan Top Trading Products

Paraguay Global Trade Core Summary

Paraguay's exports are heavily focused on agriculture and raw materials, with oil seeds (HS 12) making up 33% of total exports. Other key exports include mineral fuels (15%), meat (14%), and cereals (10%). This shows a strong dependence on primary products. Imports are dominated by machinery and electronics (HS 85 at 24%), along with mineral fuels (13%) and industrial equipment (HS 84 at 12%). The country relies on foreign-made machinery and energy products.

Key takeaways:

• Exports are mostly low-value raw materials.
• High import dependence on machinery and fuel.
• Limited manufacturing exports (only 3% from electronics).
• Agriculture drives trade but lacks diversification.
• Energy imports suggest domestic production gaps.

Paraguay Export-Import Structural Gap

Paraguay sells raw materials but buys finished goods, especially machinery and electronics. The overlap in mineral fuels (HS 27) shows both exports and imports, likely due to refining needs. The lack of high-value exports in machinery or vehicles highlights a manufacturing gap. The trade structure suggests Paraguay is a resource supplier, not a processor. Upgrading agro-industry could reduce reliance on imported machinery. The data shows a clear divide: farm goods out, industrial goods in.

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

Check Detailed Paraguay Trade HS Code Breakdown

Paraguay 2024 Jan Top Trading Countries

Paraguay Global Trade Key Patterns

Paraguay's exports are highly concentrated in South America, with Argentina (40.5%) and Brazil (33.8%) accounting for over 74% of total exports. Chile (7.4%) and Uruguay (1.5%) add regional depth, while the U.S. (2.3%) and scattered Asian markets (South Korea, Vietnam) play minor roles. In contrast, imports show broader sourcing: Mainland China dominates (36.3%), followed by Brazil (19.8%) and the U.S. (7.0%), with smaller shares from Argentina (5.8%) and diverse Asian/European suppliers. Key asymmetries:

• Exports rely heavily on two neighbors (Argentina/Brazil).
• Imports depend on China but have more diversified secondary suppliers.
• Regional trade dominates exports, while imports blend global and regional sources.

Paraguay Export–Import Geographic Gap

Paraguay’s trade flows reveal a clear split: exports are hyper-regional (87% to South America), while imports combine a single dominant supplier (China) with mid-sized partners across continents. Brazil and Argentina appear in both lists, suggesting processing trade or re-export activity. The structure shows downstream diversification in imports (10+ suppliers beyond China) but upstream dependence in exports (two buyers). This gap highlights Paraguay’s role as a regional exporter with globally linked supply chains.

Table: Paraguay Top Destiantion & Origin Countries (Source: yTrade)

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Frequently Asked Questions

What are the major products exported by Paraguay in 2024 Jan?

Paraguay's top exports in January 2024 were oil seeds and oleaginous fruits (32.92% of exports), mineral fuels (15.49%), and meat (13.63%), totaling $289.77M, $136.38M, and $119.96M respectively.

What are the main products Paraguay imports in 2024 Jan?

Paraguay primarily imported electrical machinery ($352.11M, 24.15% of imports), mineral fuels ($196.23M, 13.46%), and nuclear/mechanical machinery ($176.49M, 12.11%) in January 2024.

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

Mainland China was Paraguay’s largest export destination ($529.29M, 36.31%), followed by Brazil ($288.77M, 19.81%) and the United States ($101.88M, 6.99%).

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

Argentina ($356.40M, 40.49%) and Brazil ($297.74M, 33.82%) were Paraguay’s top import sources, accounting for over 74% of total imports in January 2024.

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

Paraguay recorded a $579.76M trade deficit in January 2024, with exports surging 64.4% YoY to $880.24M while imports grew 11.5% to $1.46B, driven by strong agricultural shipments.