Paraguay - Argentina Trade 2024 Q2: Surplus Soars

Key Market Takeaways: Paraguay - Argentina Trade

The bilateral trade relationship between Paraguay and Argentina is marked by growth, volatility, and a strong surplus in Q2 2024.

• Economic Pulse: Paraguay holds a $949.66M trade surplus with Argentina, exporting $1.25B (up 65.4% YoY in June) while importing $300.34M (down 16.89% YoY in June).
• Exchange Structure: Paraguay - Argentina trade statistics reveal a resource-for-tech complementarity—Paraguay dominates with soybeans (72.89% of exports), while Argentina supplies mineral fuels (17.76% of imports) and vehicles.
• Strategic Interdependence: The partnership is highly asymmetric, with Argentina dependent on Paraguayan commodities and Paraguay reliant on Argentine energy and manufactured goods.

This bilateral trade snapshot is based on verified customs data from the yTrade database.

Paraguay-Argentina Trade Trend in Q2 2024

Paraguay Export Performance: Shipments to Argentina

• Total Volume: $1.25B in Q2 2024.
• Growth Trend & Context:
  • Mixed YoY performance: April (-45.89%) and May (+9.32%) showed volatility, but June surged (+65.4%).
  • Key Volatility: May saw a sharp MoM rebound (+43.9%), while June dropped (-12.54%).

Paraguay Import Performance: Sourcing from Argentina

• Total Volume: $300.34M in Q2 2024.
• Growth Trend & Context:
  • YoY swings: April (+52.38%) and May (+14.36%) growth reversed sharply in June (-16.89%).
  • Key Volatility: June imports plummeted (-12.71% MoM), marking the lowest monthly value ($90.02M).

Paraguay - Argentina Trade Balance & Market Dynamics

• Net Position: Trade surplus of $949.66M (Exports $1.25B > Imports $300.34M).
• Relationship Status: Paraguay dominates as a net exporter, with Argentina absorbing 4x more Paraguayan goods than vice versa. Volatility in imports suggests shifting demand or supply constraints.

Paraguay Import Trend from Argentina 2024 Q2 (Source: yTrade)**

Paraguay Export Trend to Argentina 2024 Q2 (Source: yTrade)**

Get Historical Paraguay Argentina Trade Records

Paraguay-Argentina Top Trading Products in Q2 2024

Paraguay Export Profile: What Does Paraguay Sell to Argentina

• Top Commodity: HS Code 12 (Soybeans, oilseeds) dominates with 72.89% of total exports to Argentina.
• Demand Driver: Argentina uses these for industrial processing, likely in animal feed or biodiesel production.
• Concentration: Extreme reliance on a single category (HS Code 12 accounts for >50% share).

Paraguay Import Profile: What Does Paraguay Buy from Argentina

• Top Commodity: HS Code 27 (Mineral fuels, oils) leads at 17.76% of imports, reflecting energy dependence.
• Dependency Nature: Energy security dependency, as Paraguay sources refined fuels from Argentina.

Paraguay - Argentina Trade Relationship Dynamics

• The Exchange Model: Resource-for-Tech Complementarity—Paraguay exports raw agricultural goods (HS 12) while importing energy (HS 27) and manufactured products (HS 87, vehicles).
• Value Chain Position: Argentina holds higher value-add, supplying processed goods (fuels, machinery) versus Paraguay’s commodity-heavy exports.

Import Analysis by Product: Argentina to Paraguay (Source: yTrade)

Export Analysis by Product: Paraguay to Argentina (Source: yTrade)

Check Detailed Paraguay-Argentina Trade HS Code Breakdown

Future Outlook & Strategic Recommendations

Forecast for Paraguay-Argentina Trade

The Paraguay-Argentina trade relationship is poised for continued growth in Q3 2024, driven by sustained demand for Paraguayan soybeans (HS 12) and Argentina’s reliance on energy exports (HS 27). However, volatility in monthly trade flows—particularly the sharp June drop in Argentine imports—suggests potential supply chain disruptions or shifting demand. Traders should anticipate price fluctuations in soybeans and refined fuels, with Paraguay’s trade surplus likely to persist but narrow if import rebounds materialize.

Strategic Moves for Traders & Policymakers

• Lock in Soybean Contracts: Paraguayan exporters must secure long-term agreements with Argentine processors to stabilize revenue amid volatile monthly demand swings.
• Diversify Energy Imports: Reduce dependency on Argentine fuels (HS 27) by exploring alternative suppliers or investing in domestic refining capacity to mitigate supply risks.
• Monitor Currency Risks: With Argentina’s economic instability, Paraguayan importers should hedge against peso depreciation to avoid cost spikes in fuel and vehicle (HS 87) purchases.

Frequently Asked Questions

How did Paraguay - Argentina trade perform in 2024 Q2?

Paraguay exported $1.25B to Argentina in Q2 2024, with volatile growth (June surged +65.4% YoY). Imports totaled $300.34M, showing sharp declines in June (-16.89% YoY).

What are the top exports from Paraguay to Argentina?

Soybeans and oilseeds (HS Code 12) dominate, accounting for 72.89% of Paraguay’s exports to Argentina, primarily for industrial processing like animal feed or biodiesel.

What does Paraguay import from Argentina?

Mineral fuels and oils (HS Code 27) lead at 17.76% of imports, reflecting Paraguay’s energy dependence on Argentina. Vehicles (HS Code 87) are also notable.

What is the trade balance between Paraguay and Argentina?

Paraguay holds a trade surplus of $949.66M (exports > imports), with Argentina absorbing 4x more Paraguayan goods than vice versa. Volatility in imports suggests shifting demand.