Paraguay - Canada Trade 2024 Q4: Meat Fuels Tech Imports

Key Market Takeaways: Paraguay - Canada Trade

The bilateral trade relationship between Paraguay and Canada surged in Q4 2024, driven by Paraguay’s explosive export growth.

• Paraguay posted a $14.9M trade surplus, with exports ($26.3M) far outpacing imports ($11.4M) despite a sharp YoY decline in Canadian shipments.
• Paraguay - Canada trade statistics reveal a lopsided exchange: Meat (85.6% of exports) funds machinery imports (39.7% share), highlighting a classic resource-for-tech dynamic.
• Highly complementary but volatile: Paraguay’s reliance on a single export commodity (meat) creates exposure, while Canada’s machinery exports signal entrenched industrial dependency.

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

Paraguay-Canada Trade Trend in Q4 2024

Paraguay Export Performance: Shipments to Canada

• Total Volume: Paraguay exported 26.31M to Canada in Q4 2024.
• Growth Trend & Context:
  • Exports surged YoY, with October (+1884.37%) and November (+918.01%) showing extreme growth. December moderated but remained high (+777.61%).
  • No specific trade news explains this spike; potential base effect or data anomaly.
• Key Volatility: October had a 42.93% MoM surge, followed by a -21.58% drop in November.

Paraguay Import Performance: Sourcing from Canada

• Total Volume: Imports from Canada totaled 11.39M in Q4 2024.
• Growth Trend & Context:
  • YoY imports declined sharply: October (-64.28%), November (-46.68%), December (-31.96%).
  • No news context provided for the contraction.
• Key Volatility: October saw the steepest MoM drop (-52.95%), with gradual stabilization afterward.

Paraguay - Canada Trade Balance & Market Dynamics

• Net Position: Paraguay holds a trade surplus of 14.92M (Exports: 26.31M > Imports: 11.39M).
• Relationship Status: Strong net exporter role, with exports dwarfing imports despite the latter’s YoY decline.

Paraguay Import Trend from Canada 2024 Q4 (Source: yTrade)**

Paraguay Export Trend to Canada 2024 Q4 (Source: yTrade)**

Get Historical Paraguay Canada Trade Records

Paraguay-Canada Top Trading Products in Q4 2024

Paraguay Export Profile: What Does Paraguay Sell to Canada

• Top Commodity: HS Code 02 (Meat and edible meat offal) dominates with 85.64% share.
• Demand Driver: Canada imports Paraguayan meat for its consumer market, likely due to cost competitiveness or niche demand.
• Concentration: Extreme concentration—meat alone accounts for over 85% of exports, indicating heavy reliance on a single commodity.

Paraguay Import Profile: What Does Paraguay Buy from Canada

• Top Commodity: HS Code 84 (Nuclear reactors, boilers, machinery) leads at 39.74% share.
• Dependency Nature: Critical technology dependency—Paraguay relies on Canadian machinery for industrial or infrastructure development.

Paraguay - Canada Trade Relationship Dynamics

• The Exchange Model: Resource-for-Tech Complementarity—Paraguay exports raw materials (meat) and imports high-value machinery.
• Value Chain Position: Canada holds the higher value-add position, supplying advanced machinery, while Paraguay provides low-processed agricultural goods.

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

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

Check Detailed Paraguay-Canada Trade HS Code Breakdown

Future Outlook & Strategic Recommendations

Forecast

Paraguay’s trade surplus with Canada is expected to widen in 2025, driven by sustained demand for its meat exports and Canada’s reliance on Paraguayan agricultural products. However, the extreme volatility in export growth suggests potential corrections ahead, possibly due to market saturation or supply chain adjustments. Meanwhile, declining imports of Canadian machinery signal a shift in Paraguay’s industrial procurement strategy, possibly toward alternative suppliers or reduced capital expenditure. Traders should prepare for a period of consolidation in bilateral trade, with meat exports remaining the linchpin but requiring diversification to mitigate over-reliance risks.

Strategic Moves

• Lock in Meat Export Contracts: Paraguayan meat exporters should secure long-term agreements with Canadian buyers to stabilize revenue streams and hedge against price fluctuations. Given the sector’s dominance, failing to formalize demand could expose Paraguay to sudden market shifts.
• Diversify Import Sources for Machinery: Paraguayan importers must reduce dependency on Canadian machinery by exploring competitive alternatives in markets like the EU or China. This will mitigate supply chain vulnerabilities and potentially lower costs.
• Invest in Value-Added Meat Processing: Paraguay should capitalize on its meat export strength by investing in processing facilities to export higher-margin products (e.g., pre-packaged cuts) rather than raw commodities. This would improve trade terms and reduce exposure to commodity price swings.

Frequently Asked Questions

How did Paraguay - Canada trade perform in 2024 Q4?

Paraguay's exports to Canada surged YoY, reaching $26.31M, while imports from Canada declined sharply to $11.39M.

What are the top exports from Paraguay to Canada?

Meat and edible meat offal (HS Code 02) dominate, accounting for 85.64% of Paraguay's exports to Canada.

What does Paraguay import from Canada?

Nuclear reactors, boilers, and machinery (HS Code 84) are the top imports, making up 39.74% of Paraguay's purchases from Canada.

What is the trade balance between Paraguay and Canada?

Paraguay holds a trade surplus of $14.92M, with exports far exceeding imports despite the latter's YoY decline.