Paraguay - Germany Trade 2024 Q2: Deficit Widens
Key Market Takeaways: Paraguay - Germany Trade
The bilateral trade relationship between Paraguay and Germany reflects a persistent trade deficit with volatile growth trends in Q2 2024.
- Economic Pulse: Paraguay recorded an $80M trade deficit with Germany ($90.42M imports vs. $10.42M exports), driven by plunging export performance (-29.5% YoY in June) and resilient German imports (+48.9% YoY in June).
- Exchange Structure: Paraguay - Germany trade statistics reveal a resource-for-tech complementarity—Paraguay supplies agricultural goods (meat, oilseeds) while Germany dominates with pharmaceuticals and machinery, accounting for 24.3% of imports.
- Strategic Interdependence: The partnership is asymmetrical; Germany holds the high-value position, while Paraguay remains dependent on critical manufactured imports.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Paraguay-Germany Trade Trend in Q2 2024
Paraguay Export Performance: Shipments to Germany
- Total Volume: $10.42M in Q2 2024.
- Growth Trend & Context:
- YoY decline persisted across all months, with June (-29.5%) showing the sharpest drop.
- Key Volatility: June exports plummeted 40.62% MoM, the steepest monthly contraction.
Paraguay Import Performance: Sourcing from Germany
- Total Volume: $90.42M in Q2 2024.
- Growth Trend & Context:
- Mixed YoY performance: April (+12.96%) and June (+48.9%) growth offset May’s -15.34% decline.
- Key Volatility: April imports surged 22.78% MoM, while May saw a -5.53% dip.
Paraguay - Germany Trade Balance & Market Dynamics
- Net Position: Trade deficit of $80M (Imports $90.42M > Exports $10.42M).
- Relationship Status: Paraguay remains heavily import-dependent on Germany, with exports failing to offset inbound trade volume.
Paraguay Import Trend from Germany 2024 Q2 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Apr | 30.89M | 22.78% | 12.96% |
| May | 29.18M | -5.53% | -15.34% |
| Jun | 30.36M | 4.05% | 48.9% |
| Total | 90.42M | - | - |
Paraguay Export Trend to Germany 2024 Q2 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Apr | 3.71M | 3.91% | -5.8% |
| May | 4.21M | 13.35% | -1.15% |
| Jun | 2.50M | -40.62% | -29.5% |
| Total | 10.42M | - | - |
Get Historical Paraguay Germany Trade Records
Paraguay-Germany Top Trading Products in Q2 2024
Paraguay Export Profile: What Does Paraguay Sell to Germany
- Top Commodity: Rank #1 export is HS 02 (Meat and edible meat offal) with a 25.96% share.
- Demand Driver: Germany imports these agricultural products for its consumer market and food processing industries.
- Concentration: The top two exports (HS 02 and HS 12, oilseeds) account for over 51% of total exports, indicating high trade concentration.
Paraguay Import Profile: What Does Paraguay Buy from Germany
- Top Commodity: Rank #1 import is HS 30 (Pharmaceutical products) with a 24.32% share.
- Dependency Nature: Paraguay relies on Germany for high-tech goods like pharmaceuticals (HS 30) and machinery (HS 84, 85), reflecting critical technology dependency.
Paraguay - Germany Trade Relationship Dynamics
- The Exchange Model: Resource-for-Tech Complementarity. Paraguay exports raw materials (meat, oilseeds) and imports high-value manufactured goods (pharmaceuticals, machinery).
- Value Chain Position: Germany holds the higher value-add position, supplying advanced products, while Paraguay provides primary commodities.
Import Analysis by Product: Germany to Paraguay (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 30 | 21.99M | 24.32% |
| 84 | 21.48M | 23.75% |
| 87 | 12.34M | 13.64% |
| 85 | 11.57M | 12.80% |
| 38 | 6.39M | 7.07% |
| 90 | 3.22M | 3.56% |
| 39 | 2.57M | 2.84% |
| 40 | 1.19M | 1.32% |
| 33 | 1.04M | 1.15% |
| 59 | 878.38K | 0.97% |
Export Analysis by Product: Paraguay to Germany (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 02 | 2.70M | 25.96% |
| 12 | 2.64M | 25.34% |
| 44 | 1.27M | 12.19% |
| 52 | 836.24K | 8.03% |
| 17 | 817.54K | 7.85% |
| 42 | 590.36K | 5.67% |
| 85 | 449.81K | 4.32% |
| 05 | 363.75K | 3.49% |
| 84 | 306.11K | 2.94% |
| 76 | 144.17K | 1.38% |
Check Detailed Paraguay-Germany Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast for Paraguay-Germany Trade
The Paraguay-Germany trade relationship is likely to remain imbalanced in the near term, with Paraguay’s export decline (-29.5% YoY in June) signaling persistent challenges in agricultural demand. Germany’s import growth (+48.9% YoY in June) for high-value goods like pharmaceuticals and machinery suggests continued dependency, but Paraguay must address export volatility to stabilize its trade deficit. Without diversification or value-added processing, the $80M deficit could widen further.
Strategic Moves for Traders & Policymakers
- Diversify Export Markets: Paraguayan meat and oilseed exporters should target alternative EU markets to reduce reliance on Germany’s fluctuating demand.
- Secure Long-term Tech Contracts: Paraguayan importers of German machinery (HS 84, 85) should lock in favorable terms now, as rising global demand may inflate prices.
- Invest in Value-Added Processing: Paraguay must shift from raw commodity exports to processed goods (e.g., packaged meats) to capture higher margins and reduce trade vulnerability.
Frequently Asked Questions
How did Paraguay - Germany trade perform in 2024 Q2?
Paraguay's exports to Germany totaled $10.42M in Q2 2024, showing a YoY decline, while imports from Germany reached $90.42M, with mixed YoY growth.
What are the top exports from Paraguay to Germany?
The top exports are HS 02 (Meat and edible meat offal) and HS 12 (Oilseeds), accounting for over 51% of total exports.
What does Paraguay import from Germany?
Paraguay primarily imports HS 30 (Pharmaceutical products) and machinery (HS 84, 85) from Germany, reflecting a reliance on high-tech goods.
What is the trade balance between Paraguay and Germany?
Paraguay recorded a trade deficit of $80M with Germany in Q2 2024, as imports significantly outweighed exports.
Paraguay - Germany Trade 2024 Q1: Deficit-Driven Exchange
Paraguay's trade deficit with Germany hit 70.03M in Q1 2024, driven by raw material exports and high-value tech imports. Explore Paraguay Germany trade trends and top trading products via yTrade data.
Paraguay - Germany Trade 2024 Q4: Deficit Widens
Paraguay's trade deficit with Germany hit 83.92M in Q4 2024, driven by oilseeds and meat exports vs. machinery imports. Explore Paraguay Germany trade trends and top trading products via yTrade data.
