Paraguay - Argentina Trade 2023 Whole Year: $3.24B Surplus
Key Market Takeaways: Paraguay - Argentina Trade
The bilateral trade relationship between Paraguay and Argentina solidified Paraguay's role as a net exporter with explosive growth in 2023.
- $3.24B Surplus Driven by Oilseeds: Paraguay posted a $3.24B trade surplus ($4.40B exports vs. $1.16B imports), fueled by triple-digit YoY export growth—especially in oilseeds (72.44% of shipments).
- Resource-for-Energy Exchange: Paraguay - Argentina trade statistics reveal a lopsided exchange: agricultural raw materials (HS 12) for refined fuels (HS 27), highlighting Argentina’s value-add advantage.
- Volatile but Complementary: Despite import volatility, the partnership thrives on structural interdependence—Paraguay supplies bulk commodities, Argentina provides energy security.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Paraguay-Argentina Trade Trend in Whole Year 2023
Paraguay Export Performance: Shipments to Argentina
- Total Volume: $4.40B in 2023.
- Growth Trend & Context:
- Explosive YoY growth, peaking at +303.03% in December. Most months saw triple-digit YoY increases, except June (+6.17%).
- February and March stood out with MoM spikes of +287.32% and +151.4%, respectively.
- Key Volatility: Sharp MoM drops in June (-42.19%) and May (-28.78%), followed by rebounds in July (+25.91%) and October (+22.92%).
Paraguay Import Performance: Sourcing from Argentina
- Total Volume: $1.16B in 2023.
- Growth Trend & Context:
- Mixed YoY performance: declines dominated H1 (e.g., -34.73% in April), but H2 saw recovery (e.g., +19.71% in September).
- August (+6.15% YoY) marked the first positive YoY growth after seven months of contraction.
- Key Volatility: March (+42.36% MoM) and May (+28.22% MoM) were recovery months, while April (-29.06% MoM) and November (-18.65% MoM) saw steep declines.
Paraguay - Argentina Trade Balance & Market Dynamics
- Net Position: $3.24B surplus for Paraguay (Exports $4.40B vs. Imports $1.16B).
- Relationship Status: Paraguay solidified its role as a net exporter to Argentina, with exports nearly quadrupling imports. The surge in exports, especially in H1, offset import volatility.
Paraguay Import Trend from Argentina 2023 Whole Year (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 78.51M | -14.16% | -21.48% |
| Feb | 69.65M | -11.29% | -31.83% |
| Mar | 99.15M | 42.36% | -10.96% |
| Apr | 70.34M | -29.06% | -34.73% |
| May | 90.18M | 28.22% | -27.69% |
| Jun | 108.32M | 20.11% | -0.98% |
| Jul | 103.09M | -4.83% | -14.05% |
| Aug | 117.15M | 13.64% | 6.15% |
| Sep | 131.55M | 12.29% | 19.71% |
| Oct | 109.76M | -16.57% | 4.31% |
| Nov | 89.28M | -18.65% | -33.26% |
| Dec | 95.05M | 6.47% | 3.93% |
| Total | 1.16B | - | - |
Paraguay Export Trend to Argentina 2023 Whole Year (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 77.10M | -9.24% | 156.52% |
| Feb | 298.61M | 287.32% | 103.67% |
| Mar | 750.71M | 151.4% | 247.41% |
| Apr | 626.76M | -16.51% | 148.33% |
| May | 446.38M | -28.78% | 89.12% |
| Jun | 258.04M | -42.19% | 6.17% |
| Jul | 324.89M | 25.91% | 57.94% |
| Aug | 254.72M | -21.6% | 99.86% |
| Sep | 287.36M | 12.81% | 128.09% |
| Oct | 353.21M | 22.92% | 172.3% |
| Nov | 383.48M | 8.57% | 236.19% |
| Dec | 342.36M | -10.72% | 303.03% |
| Total | 4.40B | - | - |
Get Historical Paraguay Argentina Trade Records
Paraguay-Argentina Top Trading Products in Whole Year 2023
Paraguay Export Profile: What Does Paraguay Sell to Argentina
- Top Commodity: HS Code 12 (Oilseeds and misc. grains) dominates with 72.44% of exports.
- Demand Driver: Argentina likely uses these for industrial processing (e.g., crushing for oils or animal feed).
- Concentration: Extreme reliance on one category (72.44%), indicating vulnerability to price swings in oilseeds.
Paraguay Import Profile: What Does Paraguay Buy from Argentina
- Top Commodity: HS Code 27 (Mineral fuels, oils) leads at 22.11% of imports.
- Dependency Nature: Energy security dependency, as Paraguay sources refined fuels from Argentina.
Paraguay - Argentina Trade Relationship Dynamics
- The Exchange Model: Resource-for-Energy Complementarity—Paraguay exports agricultural raw materials (HS 12) in exchange for refined fuels (HS 27).
- Value Chain Position: Argentina holds higher value-add, supplying processed energy products versus Paraguay’s bulk commodities.
Import Analysis by Product: Argentina to Paraguay (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 27 | 256.91M | 22.11% |
| 87 | 128.36M | 11.05% |
| 38 | 81.38M | 7.00% |
| 72 | 65.69M | 5.65% |
| 30 | 62.60M | 5.39% |
| 39 | 48.62M | 4.18% |
| 84 | 42.62M | 3.67% |
| 21 | 39.42M | 3.39% |
| 19 | 35.35M | 3.04% |
| 33 | 35.02M | 3.01% |
Export Analysis by Product: Paraguay to Argentina (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 12 | 3.19B | 72.44% |
| 27 | 512.56M | 11.64% |
| 23 | 216.23M | 4.91% |
| 15 | 115.45M | 2.62% |
| 10 | 97.54M | 2.22% |
| 85 | 79.69M | 1.81% |
| 08 | 32.22M | 0.73% |
| 83 | 28.36M | 0.64% |
| 48 | 18.50M | 0.42% |
| 39 | 13.74M | 0.31% |
Check Detailed Paraguay-Argentina Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast
Paraguay’s trade surplus with Argentina is set to widen further in 2024, driven by sustained demand for oilseeds (HS 12) and Argentina’s reliance on Paraguayan agricultural inputs. However, volatility in mineral fuel imports (HS 27) may persist due to Argentina’s domestic energy market fluctuations. Exporters should anticipate continued triple-digit growth in key months, but must prepare for sudden downturns like those seen in mid-2023. The Paraguay-Argentina trade forecast hinges on maintaining this resource-for-energy exchange, though diversification will be critical to mitigate overreliance on a single commodity.
Strategic Moves
- Lock in Long-Term Contracts for Oilseeds: With Argentina’s industrial demand for oilseeds remaining strong, Paraguayan exporters should secure multi-year agreements to stabilize revenue and reduce exposure to price swings.
- Diversify Energy Suppliers: Paraguay’s heavy dependence on Argentine mineral fuels (HS 27) poses a risk. Importers must explore alternative suppliers in Brazil or Bolivia to ensure energy security.
- Invest in Export Capacity for Secondary Commodities: To reduce vulnerability, Paraguay should expand production and marketing of non-oilseed exports (e.g., meat, textiles) to balance trade concentration.
Frequently Asked Questions
How did Paraguay - Argentina trade perform in 2023 Whole Year?
Paraguay exported $4.40B to Argentina, with explosive YoY growth (peaking at +303.03% in December), while imports totaled $1.16B, showing mixed YoY performance.
What are the top exports from Paraguay to Argentina?
Oilseeds and misc. grains (HS Code 12) dominated Paraguay's exports, accounting for 72.44% of total shipments to Argentina.
What does Paraguay import from Argentina?
Mineral fuels and oils (HS Code 27) were the top imports, making up 22.11% of Paraguay's purchases from Argentina.
What is the trade balance between Paraguay and Argentina?
Paraguay recorded a $3.24B trade surplus in 2023, with exports nearly quadrupling imports, solidifying its role as a net exporter.
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