2024 Q3 Paraguay Trade Data Summary: Export Slump

Paraguay 2024 Q3 Trade Data Key Takeaways

• Market Trend: Paraguay trade data shows exports fell 8.3% YoY in Q3 2024, narrowing the trade surplus amid softening demand.
• Key Driver: Paraguay import export data reveals over 50% of exports rely on agriculture (oil seeds, meat) to Argentina and Brazil.
• Strategic Risk: High regional export concentration and low value-added output expose trade to commodity swings and Mercosur policy shifts.

Analysis covers 2024 Q3 based on sanitized customs records from the yTrade database.

Paraguay 2024 Q3 Trade Data Trend Overview

• Paraguay, a key agricultural and energy exporter within Mercosur, saw its global trade data reflect notable quarterly pressures in Q3 2024, with export earnings declining amid shifting regional dynamics and external demand.
• The latest Paraguay import export data shows exports fell 8.3% year-on-year to $830 million in September, while imports edged up 1.6% to $1.34 billion, indicating softening external sales and steady domestic demand for goods.
• This resulted in a trade surplus of approximately $504 million for September, though the quarterly surplus narrowed significantly from July’s peak as export values contracted over the period.
• The downturn aligns with ongoing Mercosur-EU trade negotiations and Paraguay’s strategic push for greater independent trade agreements [Paraguay Government's New Trade Policy], which may be affecting short-term export flows amid policy repositioning.

Table: Import Key Metrics (Source: yTrade)

Table: Export Key Metrics (Source: yTrade)

Get Historical Paraguay Trade Data

Paraguay 2024 Q3 Top Trading Products

Paraguay Global Trade Core Summary

Paraguay's exports are heavily focused on agriculture and raw materials, with oil seeds (29.4%), meat (17.4%), and mineral fuels (10.9%) leading the way. These three categories alone make up over half of total exports, showing a strong reliance on primary goods. Imports, however, are dominated by machinery, electronics, and industrial inputs—electrical machinery (14.4%), mineral fuels (12.3%), and industrial equipment (12.1%) top the list. The trade structure reveals a classic resource-driven economy with limited high-value manufacturing exports.

Key takeaways:

• High dependence on agricultural exports, leaving trade vulnerable to commodity price swings.
• Mineral fuels appear in both export and import lists, suggesting some domestic refining or re-export activity.
• Minimal export diversification—only one manufactured category (electrical machinery) cracks the top 10.
• Industrial gap—imports of machinery and vehicles highlight reliance on foreign technology.

Paraguay Export-Import Structural Gap

Paraguay exports raw materials but imports finished goods, a pattern typical of developing economies. The country sells crops, meat, and fuels but buys machinery, electronics, and chemicals to support industry and infrastructure. Overlap in mineral fuels (HS 27) suggests some processing or transit trade, but the bulk of exports remain unprocessed. The lack of advanced manufacturing in exports points to untapped potential in value-added production—especially in agri-processing, given the strong farm export base. Trade data shows Paraguay remains a price-taker in global markets, not a technology or industrial player.

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

Check Detailed Paraguay Trade HS Code Breakdown

Paraguay 2024 Q3 Top Trading Countries

Paraguay Global Trade Key Patterns

Paraguay's exports are highly concentrated in South America, with Argentina (33.02%) and Brazil (32.92%) accounting for two-thirds of total exports. Chile (7.53%) and Uruguay (2.58%) are secondary markets, while the U.S. (3.81%) and distant partners like Israel (2.27%) and Russia (1.26%) play minor roles. Imports show a different structure: Mainland China (31.35%) and Brazil (24.90%) dominate, followed by Argentina (7.06%) and the U.S. (6.74%). Asian suppliers—Singapore, India, Japan, South Korea, and Vietnam—collectively contribute 9.1% of imports.

• Exports: Heavy reliance on Argentina and Brazil.
• Imports: Dual dependence on China and Brazil, with diversified Asian sourcing.
• Asymmetry: Exports are regionally focused; imports blend regional and global suppliers.

Paraguay Export–Import Geographic Gap

Paraguay’s exports are almost entirely regional, while imports combine regional (Brazil, Argentina) and global (China, U.S., Asia) sources. Brazil appears in both top export and import lists, suggesting processing trade or re-export activity. The structure indicates downstream diversification in exports (limited to neighbors) but upstream dependency on China and Brazil for critical inputs. The lack of overlap beyond Brazil and Argentina highlights a clear separation between supply chains and end markets.

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 Q3?

Paraguay's top exports in Q3 2024 were oil seeds and oleaginous fruits (29.35% of exports), meat and edible offal (17.40%), and mineral fuels (10.89%), based on HS code data.

What are the main products Paraguay imports in 2024 Q3?

The country primarily imported electrical machinery (14.36%), mineral fuels (12.32%), and nuclear/machinery equipment (12.09%) during Q3 2024, per HS code analysis.

Which countries are the top destinations for Paraguay's exports in 2024 Q3?

Mainland China (31.35%), Brazil (24.90%), and Argentina (7.06%) were Paraguay's largest export markets in Q3 2024, according to trade data.

Which countries supply most of Paraguay's imports in 2024 Q3?

Argentina (33.02%), Brazil (32.92%), and Chile (7.53%) accounted for the majority of Paraguay's imports during Q3 2024.

How balanced are Paraguay's export and import markets in 2024 Q3?

Paraguay maintained a $504 million trade surplus in September 2024, though exports fell 8.3% year-on-year while imports rose 1.6%, reflecting softening external demand.

Detailed Monthly Report

Paraguay Trade Data Snapshot 2024 JUL

Paraguay Trade Data Snapshot 2024 AUG

Paraguay Trade Data Snapshot 2024 SEP