2024 Q2 Paraguay Trade Data Summary: Surge & Risk

Paraguay 2024 Q2 Trade Data Key Takeaways

• Market Trend: Paraguay trade data shows exports cooling (-0.4% YoY in June) while imports surge 16.1%, narrowing the trade surplus to $240M.
• Key Driver: Paraguay import export data reveals heavy reliance on oil seeds (37.6% of exports) and machinery imports (18.7%), highlighting a raw-material-to-finished-goods gap.
• Strategic Risk: Export concentration in Argentina/Brazil (69.5% combined) exposes Paraguay to regional bloc volatility and price swings.

Analysis covers 2024 Q2 based on sanitized customs records from the yTrade database.

Paraguay 2024 Q2 Trade Data Trend Overview

• Export-driven Mercosur economy, Paraguay's Q2 2024 global trade data reflects its core role as a regional agricultural and energy supplier, with growth tempered by seasonal volatility and external demand shifts.
• The Paraguay import export data shows exports reached $3.21B for the quarter, though June’s 0.4% YoY contraction signaled a cooling; imports grew 16.1% YoY in June to $1.32B, indicating robust domestic investment and consumption.
• This resulted in a significant quarterly trade surplus of approximately $240M, though the gap narrowed sharply from April's peak as import growth accelerated into the period's end.
• The import strength aligns with the government’s 2025 "Impulsando el Crecimiento" strategy to double the economy via investment, while export softness may reflect Mercosur bloc tensions and delayed EU trade pact implementation [OECD].

Table: Import Key Metrics (Source: yTrade)

Table: Export Key Metrics (Source: yTrade)

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Paraguay 2024 Q2 Top Trading Products

Paraguay Global Trade Core Summary

Paraguay's exports are heavily focused on agriculture and raw materials, with oil seeds and meat making up over half of total exports. Key exports include oil seeds (37.6%), meat (14.2%), and mineral fuels (10.7%), showing a strong reliance on primary goods. Imports, however, are dominated by industrial and manufactured products, led by electrical machinery (18.7%), mineral fuels (15%), and machinery/vehicles (combined 20.6%). This trade structure highlights Paraguay’s role as a resource supplier while depending on foreign-made equipment and technology.

Key takeaways:

• Agriculture-driven exports dominate, with high concentration in a few commodities.
• Industrial imports reveal a gap in local manufacturing capabilities.
• Energy trade is two-way, exporting and importing mineral fuels.
• Low export diversification increases vulnerability to price swings in key crops.

Paraguay Export-Import Structural Gap

Paraguay’s trade gap shows a clear divide: it exports raw materials but imports finished goods. Agricultural products (HS 12, 02, 10) make up most exports, while machinery (HS 84, 85) and vehicles (HS 87) lead imports. The overlap in mineral fuels (HS 27) suggests some processing or re-export activity. The lack of high-value exports in manufacturing signals limited industrial development, with opportunities to move up the value chain in agro-processing or light industry. The reliance on imported machinery also points to infrastructure and productivity challenges.

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

Check Detailed Paraguay Trade HS Code Breakdown

Paraguay 2024 Q2 Top Trading Countries

Paraguay Global Trade Key Patterns

Paraguay's exports are heavily concentrated in South America, with Argentina (39.1%) and Brazil (30.4%) accounting for nearly 70% of total shipments. Chile (7.6%) and Uruguay (2.3%) add regional depth, while the U.S. (2.8%) and Russia (1.9%) are minor outliers. Imports show a more diversified sourcing mix, led by Mainland China (31.7%) and Brazil (24.3%), with Argentina (7.0%) and the U.S. (6.9%) as secondary suppliers. Key asymmetries include:

• Export reliance on just two neighbors (Argentina/Brazil)
• Import diversity with stronger Asian (China, India, Singapore) and European (Germany, Switzerland) links
• Brazil is the only major overlap, appearing in both top export and import lists.

Paraguay Export–Import Geographic Gap

Paraguay’s trade structure shows clear regional export dependence versus globalized import sourcing. Exports flow overwhelmingly to nearby markets, while imports draw from Asia, Europe, and the Americas. Brazil is a critical two-way partner, suggesting processing trade or re-export activity. The lack of other overlapping countries indicates limited local value-add in supply chains. This gap highlights upstream diversification (imports) paired with downstream concentration (exports).

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 Q2?

Paraguay's top exports in Q2 2024 were oil seeds and oleaginous fruits (37.64%, $1.21B), meat and edible meat offal (14.16%, $453.91M), and mineral fuels (10.67%, $341.79M), based on HS code data.

What are the main products Paraguay imports in 2024 Q2?

The country primarily imported electrical machinery (18.71%, $799.35M), mineral fuels (14.97%, $639.43M), and nuclear/reactor machinery (11.58%, $494.49M) during this period.

Which countries are the top destinations for Paraguay's exports in 2024 Q2?

Mainland China (31.74%, $1.36B), Brazil (24.33%, $1.04B), and Argentina (7.03%, $300.34M) were Paraguay's leading export markets in Q2 2024.

Which countries supply most of Paraguay's imports in 2024 Q2?

Argentina (39.13%, $1.25B), Brazil (30.43%, $975.33M), and Chile (7.57%, $242.51M) were the primary sources of Paraguay's imports.

How balanced are Paraguay's export and import markets in 2024 Q2?

Paraguay maintained a $240M trade surplus in Q2 2024, though the gap narrowed as imports grew 16.1% YoY in June while exports contracted slightly (0.4% YoY).

Detailed Monthly Report

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