Paraguay - Germany Trade 2023 Whole Year: Volatile Deficit
Key Market Takeaways: Paraguay - Germany Trade
The bilateral trade relationship between Paraguay and Germany is marked by volatility and a heavy trade deficit in 2023.
- Economic Pulse: Paraguay ran a $297.51M trade deficit with Germany, with imports ($342.19M) dwarfing exports ($44.68M). Growth was erratic, with sharp YoY swings in both directions.
- Exchange Structure: Paraguay - Germany trade statistics reveal a resource-for-tech imbalance—Paraguay supplies agricultural commodities (oil seeds, meat), while Germany dominates with pharmaceuticals and machinery.
- Strategic Interdependence: The partnership is asymmetrical but complementary, with Paraguay reliant on German high-tech imports and Germany sourcing raw materials.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Paraguay-Germany Trade Trend in Whole Year 2023
Paraguay Export Performance: Shipments to Germany
- Total Volume: $44.68M in 2023.
- Growth Trend & Context: Mixed YoY performance, with sharp declines early in the year (e.g., -38.62% YoY in March) but recovery in H2 (e.g., +31.9% YoY in October). No specific trade news to explain volatility.
- Key Volatility: April saw the highest MoM surge (+55.59%), while December had the steepest MoM drop (-18.67%).
Paraguay Import Performance: Sourcing from Germany
- Total Volume: $342.19M in 2023.
- Growth Trend & Context: Strong YoY growth overall (+40.79% in February, +55.24% in May), though June saw a sharp contraction (-39.57% YoY). No news context provided.
- Key Volatility: February recorded the highest MoM jump (+43.54%), while June had the steepest decline (-40.84% MoM).
Paraguay - Germany Trade Balance & Market Dynamics
- Net Position: Trade deficit of $297.51M (Imports exceed exports by 7.7x).
- Relationship Status: Heavy reliance on German imports, with exports playing a marginal role in bilateral trade. The deficit underscores Paraguay's net importer position.
Paraguay Import Trend from Germany 2023 Whole Year (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 22.64M | 5.24% | -3.95% |
| Feb | 32.49M | 43.54% | 40.79% |
| Mar | 30.96M | -4.72% | 30.17% |
| Apr | 27.34M | -11.69% | 19.06% |
| May | 34.47M | 26.05% | 55.24% |
| Jun | 20.39M | -40.84% | -39.57% |
| Jul | 24.91M | 22.2% | 30.08% |
| Aug | 32.22M | 29.31% | 35.38% |
| Sep | 33.91M | 5.25% | 26.68% |
| Oct | 29.57M | -12.8% | 40.18% |
| Nov | 25.48M | -13.84% | 5.02% |
| Dec | 27.81M | 9.16% | 29.29% |
| Total | 342.19M | - | - |
Paraguay Export Trend to Germany 2023 Whole Year (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 2.44M | -19.72% | -3.8% |
| Feb | 3.19M | 30.62% | -19.9% |
| Mar | 2.53M | -20.55% | -38.62% |
| Apr | 3.94M | 55.59% | -21.61% |
| May | 4.26M | 8.02% | 1.7% |
| Jun | 3.54M | -16.74% | -12.06% |
| Jul | 4.03M | 13.83% | 30.21% |
| Aug | 3.70M | -8.38% | -12.38% |
| Sep | 4.63M | 25.37% | -13.17% |
| Oct | 4.76M | 2.77% | 31.9% |
| Nov | 4.22M | -11.27% | 22.25% |
| Dec | 3.44M | -18.67% | 13.05% |
| Total | 44.68M | - | - |
Get Historical Paraguay Germany Trade Records
Paraguay-Germany Top Trading Products in Whole Year 2023
Paraguay Export Profile: What Does Paraguay Sell to Germany
- Top Commodity: Rank #1 export is HS Code 12 (Oil seeds and oleaginous fruits) at 29.10% of total exports to Germany.
- Demand Driver: Germany uses these raw materials for industrial processing, likely in food production or biofuels.
- Concentration: The top two exports (HS 12 and 02) account for 50.81%, indicating high reliance on agricultural commodities.
Paraguay Import Profile: What Does Paraguay Buy from Germany
- Top Commodity: Rank #1 import is HS Code 30 (Pharmaceutical products) at 23.82% of total imports from Germany.
- Dependency Nature: Critical technology dependency, with high-tech machinery (HS 84, 85) and pharmaceuticals dominating imports.
Paraguay - Germany Trade Relationship Dynamics
- The Exchange Model: Resource-for-Tech Complementarity. Paraguay exports agricultural raw materials (HS 12, 02) and imports high-value pharmaceuticals, machinery, and vehicles (HS 30, 84, 87).
- Value Chain Position: Germany holds the higher value-add position, supplying advanced manufactured goods, while Paraguay provides low-processed commodities.
Import Analysis by Product: Germany to Paraguay (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 30 | 81.52M | 23.82% |
| 84 | 54.90M | 16.05% |
| 87 | 47.08M | 13.76% |
| 85 | 34.96M | 10.22% |
| 31 | 31.41M | 9.18% |
| 38 | 18.82M | 5.50% |
| 90 | 12.04M | 3.52% |
| 39 | 11.26M | 3.29% |
| 40 | 3.79M | 1.11% |
| 33 | 3.37M | 0.99% |
Export Analysis by Product: Paraguay to Germany (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 12 | 13.00M | 29.10% |
| 02 | 9.70M | 21.71% |
| 44 | 5.51M | 12.34% |
| 17 | 4.59M | 10.27% |
| 42 | 2.77M | 6.20% |
| 05 | 1.79M | 4.01% |
| 85 | 1.62M | 3.63% |
| 08 | 1.45M | 3.24% |
| 74 | 1.23M | 2.76% |
| 90 | 675.90K | 1.51% |
Check Detailed Paraguay-Germany Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast
The Paraguay-Germany trade relationship is poised for moderate growth in 2024, driven by Germany’s steady demand for Paraguayan agricultural commodities (HS 12, 02) and Paraguay’s reliance on high-value German imports (HS 30, 84). However, volatility in monthly trade flows—particularly in exports—suggests exporters must prepare for uneven demand. The persistent trade deficit (7.7x imports over exports) will likely widen unless Paraguay diversifies its export basket or secures higher-value agreements. Traders should monitor German industrial trends, as shifts in biofuel or pharmaceutical demand could sharply impact bilateral volumes.
Strategic Moves
- Lock in Agri-Export Contracts: Paraguayan exporters of oilseeds (HS 12) should negotiate long-term supply agreements with German buyers to stabilize revenue amid price fluctuations.
- Diversify Import Sources: Paraguayan importers of pharmaceuticals (HS 30) and machinery (HS 84) must explore alternative suppliers in Asia or regional markets to reduce dependency on German high-tech goods.
- Invest in Value-Added Processing: Paraguay should prioritize upgrading its agro-industrial capacity (e.g., refining oilseeds into biofuels) to capture more value before export, narrowing the trade deficit with Germany.
Frequently Asked Questions
How did Paraguay - Germany trade perform in 2023 Whole Year?
Paraguay exported $44.68M to Germany and imported $342.19M, showing mixed growth trends with sharp declines and recoveries in exports, while imports saw strong YoY growth overall.
What are the top exports from Paraguay to Germany?
The top exports are HS Code 12 (Oil seeds and oleaginous fruits) and HS Code 02 (Meat and edible offal), accounting for 50.81% of total exports.
What does Paraguay import from Germany?
The top imports are HS Code 30 (Pharmaceutical products), HS Code 84 (Machinery), and HS Code 87 (Vehicles), reflecting a dependency on high-tech and manufactured goods.
What is the trade balance between Paraguay and Germany?
Paraguay recorded a trade deficit of $297.51M, with imports exceeding exports by 7.7x, highlighting its net importer position.
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