2024 Mar Paraguay Global Trade Data Summary: Export Crash

Paraguay 2024 Mar Trade Data Key Takeaways

• Market Trend: Paraguay trade data shows a 32.7% export crash in Mar 2024, widening the trade deficit to $377.7M.
• Key Driver: Paraguay import export data reveals soy & fuels dominate exports, while China supplies 34.5% of machinery-heavy imports.
• Strategic Risk: Over 75% export reliance on Argentina/Brazil leaves economy exposed to regional demand shocks.

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

Paraguay 2024 Mar Trade Data Trend Overview

• Paraguay, a Mercosur-linked agricultural and manufacturing hub, posted a sharp contraction in its March 2024 Paraguay global trade data, reflecting external demand pressures and internal supply adjustments.
• The latest Paraguay import export data shows exports fell 32.7% year-on-year to $892.3 million, while imports declined 9.1% to $1.27 billion, indicating weaker external sales and restrained domestic purchasing.
• This resulted in a trade deficit of approximately $377.7 million for the month, reversing from the typical surplus driven by commodity exports.
• The downturn aligns with regional trade volatility and softer demand for Paraguayan soy and manufactured goods, as the economy adjusted to shifting Mercosur dynamics and global commodity cycles.

Table: Import Key Metrics (Source: yTrade)

Table: Export Key Metrics (Source: yTrade)

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Paraguay 2024 Mar Top Trading Products

Paraguay Global Trade Core Summary

Paraguay's exports are heavily focused on agriculture and raw materials, with oil seeds (38.8%) and mineral fuels (13.4%) dominating. Meat, cereals, and animal feed add another 24.3%, showing a strong reliance on primary goods. Imports are more diversified, led by electrical machinery (22.3%) and mineral fuels (15.1%), followed by industrial machinery (11.8%) and vehicles (8.6%). This highlights a resource-driven export economy dependent on imported manufactured goods.

Key takeaways:

• Exports are concentrated in low-value agricultural products, posing price volatility risks.
• Imports show reliance on machinery and fuel, indicating limited domestic industrial capacity.
• Minimal export diversification beyond raw materials leaves the economy vulnerable.

Paraguay Export-Import Structural Gap

Paraguay exports raw materials but imports high-value manufactured goods, creating a clear structural gap. The country sells oil seeds, meat, and minerals but buys machinery, electronics, and vehicles—a classic resource-based trade pattern. Overlapping HS codes like mineral fuels (exported and imported) suggest some processing but not deep industrialization. The lack of advanced exports signals missed opportunities in value-added production. This trade structure keeps Paraguay in a supplier role rather than a competitive manufacturing player.

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

Check Detailed Paraguay Trade HS Code Breakdown

Paraguay 2024 Mar Top Trading Countries

Paraguay Global Trade Key Patterns

Paraguay's exports are highly concentrated, with Argentina (46.8%) and Brazil (28.5%) accounting for over 75% of total shipments. Chile (7.3%) and the U.S. (2.6%) are secondary markets, while other destinations hold minimal shares. Imports show a similar reliance on a few suppliers: Mainland China (34.5%) and Brazil (24.4%) dominate, followed by Argentina (8.3%) and the U.S. (7.2%). The trade structure reveals a strong regional focus, with South America as the core for both exports and imports. Key asymmetries include:

• Exports heavily depend on Argentina and Brazil.
• Imports rely on China and Brazil, with limited diversification.
• Regional trade dominates, with minimal global reach beyond key partners.

Paraguay Export–Import Geographic Gap

Exports and imports both depend heavily on a few partners, but imports are slightly more diversified with Asian suppliers like China and India. Overlapping trade with Brazil and Argentina suggests processing or re-export activity. The structure shows upstream dependency on China for manufactured goods and downstream reliance on neighboring markets for exports. Trade flows are regional rather than global, with limited penetration into major economies outside South America. This pattern indicates a need to diversify both export destinations and import sources to reduce vulnerability.

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 Mar?

Paraguay's top exports in March 2024 were oil seeds and oleaginous fruits (38.77% of exports, $345.93M), mineral fuels (13.40%, $119.59M), and meat (12.03%, $107.38M), based on HS code data.

What are the main products Paraguay imports in 2024 Mar?

Paraguay primarily imported electrical machinery (22.27%, $283.86M), mineral fuels (15.15%, $193.21M), and nuclear/reactor machinery (11.84%, $151.00M) in March 2024, per HS code analysis.

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

Mainland China received 34.50% ($439.83M) of Paraguay's exports in March 2024, followed by Brazil (24.38%, $310.84M) and Argentina (8.25%, $105.18M), according to trade data.

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

Argentina was Paraguay's largest import source (46.82%, $417.79M) in March 2024, with Brazil (28.51%, $254.41M) and Chile (7.32%, $65.30M) as secondary suppliers.

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

Paraguay recorded a $377.7M trade deficit in March 2024, with exports falling 32.7% to $892.3M and imports declining 9.1% to $1.27B, reflecting weaker commodity demand and Mercosur trade adjustments.