Paraguay - Argentina Trade 2023 Q1: Explosive Growth
Key Market Takeaways: Paraguay - Argentina Trade
The bilateral trade relationship between Paraguay and Argentina surged with explosive growth in Q1 2023, driven by Paraguay's soaring exports.
- Economic Pulse: Paraguay posted a $882.69M trade surplus ($1.13B exports vs. $247.31M imports), with exports growing over 100% YoY while imports declined.
- Exchange Structure: Paraguay - Argentina trade statistics reveal a resource-for-energy dynamic—Paraguay dominates with oilseed exports (79% share), while Argentina supplies critical mineral fuels (17% of imports).
- Strategic Interdependence: Highly complementary but asymmetric, with Argentina relying on Paraguayan commodities and Paraguay dependent on Argentine energy and machinery.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Paraguay-Argentina Trade Trend in Q1 2023
Paraguay Export Performance: Shipments to Argentina
- Total Volume: $1.13B in Q1 2023.
- Growth Trend & Context:
- Explosive YoY growth (+156.52% in Jan, +103.67% in Feb, +247.41% in Mar), indicating a sharp rebound or structural shift in demand.
- No specific trade news to contextualize the surge.
- Key Volatility: February saw a 287.32% MoM spike, followed by a 151.4% jump in March.
Paraguay Import Performance: Sourcing from Argentina
- Total Volume: $247.31M in Q1 2023.
- Growth Trend & Context:
- Consistent YoY declines (-21.48% in Jan, -31.83% in Feb, -10.96% in Mar), suggesting reduced reliance or supply constraints.
- Key Volatility: March imports rebounded 42.36% MoM after steep drops in January (-14.16%) and February (-11.29%).
Paraguay - Argentina Trade Balance & Market Dynamics
- Net Position: Trade surplus of $882.69M (Exports $1.13B vs. Imports $247.31M).
- Relationship Status: Paraguay is a dominant net exporter to Argentina, with exports exceeding imports by 4.6x in Q1. The widening surplus reflects asymmetric trade dynamics, possibly driven by commodity demand shifts.
Paraguay Import Trend from Argentina 2023 Q1 (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% |
| Total | 247.31M | - | - |
Paraguay Export Trend to Argentina 2023 Q1 (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% |
| Total | 1.13B | - | - |
Get Historical Paraguay Argentina Trade Records
Paraguay-Argentina Top Trading Products in Q1 2023
Paraguay Export Profile: What Does Paraguay Sell to Argentina
- Top Commodity: HS Code 12 (Oilseeds and misc. grains) dominates with 79.43% share.
- Demand Driver: Argentina uses these for industrial processing, likely in food or biofuel production.
- Concentration: Extreme reliance on a single category (oilseeds), indicating a narrow export base.
Paraguay Import Profile: What Does Paraguay Buy from Argentina
- Top Commodity: HS Code 27 (Mineral fuels) leads at 17.36% share.
- Dependency Nature: Energy security dependency, suggesting Paraguay sources critical fuel supplies from Argentina.
Paraguay - Argentina Trade Relationship Dynamics
- The Exchange Model: Resource-for-Tech Complementarity. Paraguay exports raw materials (oilseeds) and imports energy (mineral fuels) and machinery (HS 84, 87).
- Value Chain Position: Argentina holds higher value-add, supplying processed goods (fuels, vehicles) versus Paraguay’s bulk commodities.
Import Analysis by Product: Argentina to Paraguay (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 27 | 42.93M | 17.36% |
| 87 | 30.97M | 12.52% |
| 72 | 16.65M | 6.73% |
| 30 | 15.31M | 6.19% |
| 39 | 11.73M | 4.74% |
| 84 | 10.27M | 4.15% |
| 21 | 8.39M | 3.39% |
| 33 | 8.07M | 3.26% |
| 19 | 7.72M | 3.12% |
| 38 | 7.27M | 2.94% |
Export Analysis by Product: Paraguay to Argentina (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 12 | 894.75M | 79.43% |
| 27 | 142.19M | 12.62% |
| 23 | 18.60M | 1.65% |
| 85 | 17.56M | 1.56% |
| 83 | 14.76M | 1.31% |
| 08 | 8.14M | 0.72% |
| 48 | 5.19M | 0.46% |
| 39 | 3.43M | 0.30% |
| 72 | 3.34M | 0.30% |
| 11 | 2.23M | 0.20% |
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 Q2 2023, driven by sustained demand for oilseeds (HS 12) and Argentina’s reliance on raw material imports for industrial processing. The explosive YoY export growth (+156.52% in Jan) signals a structural shift, not just a rebound, suggesting Paraguay will solidify its position as a key supplier. However, import declines (-21.48% YoY in Jan) may stabilize if Argentina addresses energy supply constraints, but Paraguay’s net exporter dominance will persist. Traders should prepare for volatile commodity prices amid this asymmetric trade dynamic.
Strategic Moves
- Lock in Long-Term Contracts: Paraguayan oilseed exporters must secure fixed-price agreements with Argentine buyers to capitalize on current demand spikes and hedge against future price swings.
- Diversify Export Markets: Reduce reliance on Argentina by targeting other regional buyers (e.g., Brazil, Chile) for oilseeds to mitigate concentration risk.
- Boost Energy Resilience: Paraguayan importers should negotiate alternative fuel suppliers (e.g., Bolivia, Brazil) to counter Argentina’s inconsistent mineral fuel (HS 27) shipments and stabilize energy costs.
Frequently Asked Questions
How did Paraguay - Argentina trade perform in 2023 Q1?
Paraguay recorded explosive export growth (+156.52% YoY in Jan) to Argentina, totaling $1.13B, while imports fell (-21.48% YoY in Jan) to $247.31M.
What are the top exports from Paraguay to Argentina?
Oilseeds and misc. grains (HS Code 12) dominated, accounting for 79.43% of Paraguay’s exports to Argentina.
What does Paraguay import from Argentina?
Mineral fuels (HS Code 27) were the top import, representing 17.36% of Paraguay’s purchases from Argentina.
What is the trade balance between Paraguay and Argentina?
Paraguay had a trade surplus of $882.69M, with exports exceeding imports by 4.6x, reflecting widening asymmetric trade dynamics.
Paraguay - Argentina Trade 2023 Whole Year: $3.24B Surplus
Paraguay's 2023 trade surplus with Argentina hit $3.24B, driven by oilseed exports. Explore Paraguay Argentina trade trends and top trading products via yTrade data.
Paraguay - Argentina Trade 2023 Q3: Surplus Soars 128%
Paraguay's trade surplus with Argentina hit $515.18M in Q3 2023, fueled by 128% YoY export growth. Explore Paraguay Argentina trade trends & top trading products via yTrade data.
