Paraguay - Israel Trade 2024 Q1: Surplus Soars

Key Market Takeaways: Paraguay - Israel Trade

The bilateral trade relationship between Paraguay and Israel is marked by Paraguay's net exporter dominance in Q1 2024.

• Economic Pulse: Paraguay posted a 23.83M trade surplus with Israel, driven by 286.36% YoY export growth in February. Imports from Israel plummeted -87.44% YoY in March, signaling a sharp decline.
• Exchange Structure: Paraguay - Israel trade statistics reveal a resource-for-tech dynamic—Paraguay supplies meat (94.19% of exports) while relying on Israeli fertilizers (66.02% of imports) for its agricultural sector.
• Strategic Interdependence: The relationship is highly complementary but lopsided, with Paraguay dependent on Israeli agro-inputs while Israel sources low-value raw materials.

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

Paraguay-Israel Trade Trend in Q1 2024

Paraguay Export Performance: Shipments to Israel

• Total Volume: Q1 2024 exports to Israel totaled 26.76M.
• Growth Trend & Context:
  • Exports surged 286.36% YoY in February, followed by a 10.37% YoY rise in March, indicating strong demand recovery or new market access. January saw marginal growth (1.53% YoY).
  • Key Volatility: February recorded the highest MoM jump (72.08%), while March saw a slight contraction (-5.53% MoM).

Paraguay Import Performance: Sourcing from Israel

• Total Volume: Q1 2024 imports from Israel were 2.93M, a fraction of export volumes.
• Growth Trend & Context:
  • Imports collapsed -87.44% YoY in March, with January and February also down -63.87% and +11.74% YoY, respectively. The erratic YoY swings suggest supply chain disruptions or reduced dependency.
  • Key Volatility: January had the steepest MoM drop (-79.57%), while February’s imports were just 757.94K, the lowest in the quarter.

Paraguay - Israel Trade Balance & Market Dynamics

• Net Position: Paraguay holds a trade surplus of 23.83M (26.76M exports - 2.93M imports) with Israel in Q1 2024.
• Relationship Status: Net exporter dominance, with exports dwarfing imports. The deficit collapse in imports (-73.63% MoM in March) hints at Paraguay diversifying supply chains or Israel-facing export constraints.

Paraguay Import Trend from Israel 2024 Q1 (Source: yTrade)**

Paraguay Export Trend to Israel 2024 Q1 (Source: yTrade)**

Get Historical Paraguay Israel Trade Records

Paraguay-Israel Top Trading Products in Q1 2024

Paraguay Export Profile: What Does Paraguay Sell to Israel

• Top Commodity: Rank #1 export is HS Code 02 (Meat and edible meat offal), accounting for 94.19% of total exports to Israel.
• Demand Driver: Israel imports these for consumer market needs, likely driven by domestic demand for protein sources.
• Concentration: Trade is highly concentrated, with a single category (HS 02) dominating at over 90% share.

Paraguay Import Profile: What Does Paraguay Buy from Israel

• Top Commodity: Rank #1 import is HS Code 31 (Fertilizers), making up 66.02% of total imports from Israel.
• Dependency Nature: Reflects critical agricultural input dependency, as fertilizers are essential for Paraguay's farming sector.

Paraguay - Israel Trade Relationship Dynamics

• The Exchange Model: Resource-for-Tech Complementarity—Paraguay exports raw agricultural products (meat) while importing high-value inputs (fertilizers) from Israel.
• Value Chain Position: Israel holds the higher value-add position, supplying processed or industrial goods (fertilizers, plastics, textiles) versus Paraguay's commodity-driven exports.

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

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

Check Detailed Paraguay-Israel Trade HS Code Breakdown

Future Outlook & Strategic Recommendations

Forecast

Paraguay’s trade surplus with Israel is expected to widen further in Q2 2024, driven by sustained demand for meat exports (HS 02) and Israel’s reliance on Paraguayan agricultural inputs. However, the sharp decline in fertilizer imports (HS 31) signals potential risks for Paraguay’s farming sector, which may face supply constraints if Israel’s export capacity remains volatile. Traders should anticipate price fluctuations in fertilizers and explore alternative suppliers to mitigate disruptions. The Paraguay-Israel trade forecast remains bullish for exports but requires careful monitoring of import dependencies.

Strategic Moves

• Diversify Fertilizer Sources: Paraguay’s heavy reliance on Israeli fertilizers exposes its agricultural sector to supply shocks. Importers must secure contracts with alternative suppliers in markets like Morocco or Russia to stabilize input costs.
• Expand Meat Market Access: With HS 02 exports dominating trade, Paraguayan meat producers should negotiate long-term agreements with Israeli buyers to lock in favorable terms and explore value-added processing to capture higher margins.
• Monitor Trade Policy Shifts: Israel’s potential export restrictions or subsidy changes for fertilizers could disrupt trade flows. Traders must stay ahead of regulatory updates and adjust procurement strategies accordingly.

Frequently Asked Questions

How did Paraguay - Israel trade perform in 2024 Q1?

Paraguay's exports to Israel surged 286.36% YoY in February, totaling $26.76M in Q1, while imports from Israel dropped sharply (-87.44% YoY in March) to $2.93M.

What are the top exports from Paraguay to Israel?

Meat and edible meat offal (HS Code 02) dominate Paraguay's exports to Israel, accounting for 94.19% of total shipments.

What does Paraguay import from Israel?

Fertilizers (HS Code 31) are Paraguay's top import from Israel, making up 66.02% of total imports, reflecting agricultural input dependency.

What is the trade balance between Paraguay and Israel?

Paraguay holds a trade surplus of $23.83M with Israel in Q1 2024, driven by strong exports and a collapse in imports (-73.63% MoM in March).