Paraguay - India Trade 2024 Q2: Skewed Deficit Dynamics
Key Market Takeaways: Paraguay - India Trade
The bilateral trade relationship between Paraguay and India remains heavily skewed toward imports, with volatile export performance in Q2 2024.
- Economic Pulse: Paraguay posted an $86.76M trade deficit with India ($109.18M imports vs. $22.42M exports), driven by erratic export contractions (-81.5% YoY in May) and sustained energy demand.
- Exchange Structure: Paraguay - India trade statistics reveal a resource-for-tech dynamic—Paraguay supplies raw fats/oils (57.8% of exports), while India dominates with mineral fuels (44.7% of imports) and machinery.
- Strategic Interdependence: Complementary but imbalanced: Paraguay’s commodity-driven exports lack diversification, while India leverages higher-value manufacturing.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Paraguay-India Trade Trend in Q2 2024
Paraguay Export Performance: Shipments to India
- Total Volume: $22.42M in Q2 2024.
- Growth Trend & Context:
- YoY decline persisted across all months, with May (-81.5%) and June (-81.43%) showing severe contractions.
- April’s 541.42% MoM surge (to $15.28M) was an outlier, likely due to one-off shipments or base effects, followed by a -76.42% drop in May.
- Key Volatility: April’s export spike was erased by May’s sharp correction, indicating unstable demand or logistical disruptions.
Paraguay Import Performance: Sourcing from India
- Total Volume: $109.18M in Q2 2024.
- Growth Trend & Context:
- YoY growth was volatile: April (+155.33%) and May (+76.83%) saw strong expansion, but June collapsed (-33.9%).
- MoM swings were extreme: April’s 48.78% rise reversed into a -53.81% plunge in June.
- Key Volatility: June’s import value ($20.27M) was the lowest, suggesting inventory drawdowns or delayed orders.
Paraguay - India Trade Balance & Market Dynamics
- Net Position: Trade deficit of $86.76M (Imports $109.18M > Exports $22.42M).
- Relationship Status: Paraguay remains heavily import-dependent on India, with exports failing to offset inflows. The deficit widened due to erratic export performance and sustained import demand.
Paraguay Import Trend from India 2024 Q2 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Apr | 45.02M | 48.78% | 155.33% |
| May | 43.89M | -2.51% | 76.83% |
| Jun | 20.27M | -53.81% | -33.9% |
| Total | 109.18M | - | - |
Paraguay Export Trend to India 2024 Q2 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Apr | 15.28M | 541.42% | -65.28% |
| May | 3.60M | -76.42% | -81.5% |
| Jun | 3.54M | -1.6% | -81.43% |
| Total | 22.42M | - | - |
Get Historical Paraguay India Trade Records
Paraguay-India Top Trading Products in Q2 2024
Paraguay Export Profile: What Does Paraguay Sell to India
- Top Commodity: HS Code 15 (Animal/vegetable fats and oils) dominates with 57.79% share.
- Demand Driver: India likely uses these for industrial processing, given the raw material nature of the top exports.
- Concentration: Trade is highly concentrated, with HS Code 15 alone accounting for over half of exports.
Paraguay Import Profile: What Does Paraguay Buy from India
- Top Commodity: HS Code 27 (Mineral fuels, oils) leads at 44.73% share.
- Dependency Nature: Reflects energy security dependency, as mineral fuels are critical for Paraguay’s industrial and energy needs.
Paraguay - India Trade Relationship Dynamics
- The Exchange Model: Resource-for-Tech Complementarity. Paraguay exports raw materials (fats/oils, metals) to India, while importing energy and manufactured goods.
- Value Chain Position: India holds the higher value-add position, supplying processed fuels (HS 27) and machinery (HS 84, 85), while Paraguay’s exports are primarily low-margin commodities.
Import Analysis by Product: India to Paraguay (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 27 | 48.84M | 44.73% |
| 29 | 10.85M | 9.94% |
| 87 | 8.54M | 7.82% |
| 38 | 6.98M | 6.39% |
| 85 | 6.58M | 6.03% |
| 72 | 5.47M | 5.01% |
| 30 | 3.46M | 3.17% |
| 58 | 3.20M | 2.93% |
| 84 | 2.87M | 2.63% |
| 39 | 2.59M | 2.37% |
Export Analysis by Product: Paraguay to India (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 15 | 12.96M | 57.79% |
| 72 | 5.20M | 23.21% |
| 76 | 2.64M | 11.78% |
| 33 | 1.12M | 5.01% |
| 74 | 210.55K | 0.94% |
| 41 | 131.52K | 0.59% |
| 29 | 59.42K | 0.26% |
| 79 | 45.31K | 0.20% |
| 12 | 30.75K | 0.14% |
| 44 | 16.01K | 0.07% |
Check Detailed Paraguay-India Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast
The Paraguay-India trade relationship is likely to remain volatile in the near term, with Paraguay’s export performance facing continued headwinds due to erratic demand and high commodity concentration. India’s import demand for mineral fuels (HS 27) will sustain Paraguay’s trade deficit, but June’s sharp decline suggests potential inventory adjustments or delayed orders. Over the next quarter, exporters should brace for uneven recovery, while importers may benefit from softer energy prices if global supply stabilizes. The structural imbalance—raw materials for processed goods—will persist unless Paraguay diversifies its export basket.
Strategic Moves
- Secure Long-term Contracts for Commodities: Paraguayan exporters of animal/vegetable fats (HS 15) should lock in fixed-price agreements with Indian buyers to mitigate price volatility and stabilize revenue streams.
- Diversify Export Markets Beyond India: Given the over-reliance on a single commodity and partner, Paraguay must aggressively target alternative markets in Southeast Asia or Africa to reduce dependency on India’s fluctuating demand.
- Optimize Energy Imports with Strategic Stockpiling: Paraguayan importers of mineral fuels (HS 27) should build strategic reserves during price dips to hedge against future supply shocks and India’s export volatility.
Frequently Asked Questions
How did Paraguay - India trade perform in 2024 Q2?
Paraguay's exports to India totaled $22.42M in Q2 2024, with a persistent YoY decline, while imports from India reached $109.18M, showing volatile growth.
What are the top exports from Paraguay to India?
Animal/vegetable fats and oils (HS Code 15) dominate Paraguay's exports to India, accounting for 57.79% of total shipments.
What does Paraguay import from India?
Mineral fuels and oils (HS Code 27) are Paraguay's top imports from India, representing 44.73% of total imports.
What is the trade balance between Paraguay and India?
Paraguay recorded a trade deficit of $86.76M with India in Q2 2024, driven by higher imports and unstable export performance.
Paraguay - India Trade 2023 Q4: Widening Deficit
Paraguay's India trade trend shows a $50.88M deficit in Q4 2023, driven by raw materials exports and tech imports. Explore Paraguay India top trading product insights via yTrade data.
Paraguay - India Trade 2024 Q4: Deficit Widens
Paraguay's trade deficit with India hit $113.29M in Q4 2024 as imports doubled. Explore Paraguay India trade trends and top trading products via yTrade data.
