Paraguay - Russia Trade 2024 Q2: Volatile Growth
Key Market Takeaways: Paraguay - Russia Trade
The bilateral trade relationship between Paraguay and Russia shows growth with extreme volatility in Q2 2024.
- Paraguay holds a $22.92M trade surplus, driven by $60.53M in exports (YoY spikes in April/May) against $37.61M in imports (wild swings, including a 5921.99% YoY surge in May).
- Paraguay - Russia trade statistics reveal a resource-for-resource exchange: oil seeds (49.86% of exports) for Russian mineral fuels (87.48% of imports).
- Highly complementary but unstable, with Paraguay dependent on Russian energy and Russia reliant on Paraguayan agricultural raw materials.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Paraguay-Russia Trade Trend in Q2 2024
Paraguay Export Performance: Shipments to Russia
- Total Volume: $60.53M in Q2 2024.
- Growth Trend & Context:
- YoY growth was strong in April (+89.36%) and May (+118.1%), but slowed sharply in June (+16.0%).
- No specific trade news or policy changes were reported to explain these fluctuations.
- Key Volatility: May saw the highest export value ($28.29M), while June experienced a significant MoM drop (-55.58%).
Paraguay Import Performance: Sourcing from Russia
- Total Volume: $37.61M in Q2 2024.
- Growth Trend & Context:
- Extreme YoY volatility: May imports surged 5921.99%, while April saw an -88.95% collapse. June rebounded (+145.46%).
- No relevant news to contextualize the wild swings.
- Key Volatility: May recorded a staggering 8050.62% MoM spike ($28.35M), followed by a -68.56% contraction in June.
Paraguay - Russia Trade Balance & Market Dynamics
- Net Position: Paraguay holds a $22.92M trade surplus with Russia (Exports $60.53M vs. Imports $37.61M).
- Relationship Status: Paraguay maintains a clear net exporter role, though import volatility suggests erratic Russian supply patterns.
Paraguay Import Trend from Russia 2024 Q2 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Apr | 347.77K | 18.16% | -88.95% |
| May | 28.35M | 8050.62% | 5921.99% |
| Jun | 8.91M | -68.56% | 145.46% |
| Total | 37.61M | - | - |
Paraguay Export Trend to Russia 2024 Q2 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Apr | 19.68M | 180.68% | 89.36% |
| May | 28.29M | 43.75% | 118.1% |
| Jun | 12.56M | -55.58% | 16.0% |
| Total | 60.53M | - | - |
Get Historical Paraguay Russia Trade Records
Paraguay-Russia Top Trading Products in Q2 2024
Paraguay Export Profile: What Does Paraguay Sell to Russia
- Top Commodity: Rank #1 export is HS Code 12 (Oil seeds and oleaginous fruits), accounting for 49.86% of total exports to Russia.
- Demand Driver: Russia likely imports these for industrial processing, possibly for oil extraction or animal feed production.
- Concentration: Trade is highly concentrated, with the top two commodities (HS Code 12 and 02) making up 97.11% of total exports.
Paraguay Import Profile: What Does Paraguay Buy from Russia
- Top Commodity: Rank #1 import is HS Code 27 (Mineral fuels, oils), dominating with 87.48% of total imports from Russia.
- Dependency Nature: Reflects energy security dependency, as Paraguay relies heavily on Russian mineral fuels.
Paraguay - Russia Trade Relationship Dynamics
- The Exchange Model: Resource-for-Resource Complementarity—Paraguay exports agricultural raw materials (oil seeds, meat) in exchange for Russian energy products.
- Value Chain Position: Both sides trade in low-complexity goods, with Russia holding a slight edge due to energy exports (higher strategic value).
Import Analysis by Product: Russia to Paraguay (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 27 | 32.90M | 87.48% |
| 31 | 4.53M | 12.05% |
| 02 | 114.80K | 0.31% |
| 28 | 28.29K | 0.08% |
| 44 | 27.00K | 0.07% |
| 96 | 4.20K | 0.01% |
| 29 | 518.00 | 0.00% |
| 85 | 478.00 | 0.00% |
| 90 | 33.00 | 0.00% |
Export Analysis by Product: Paraguay to Russia (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 12 | 30.18M | 49.86% |
| 02 | 28.60M | 47.25% |
| 05 | 1.17M | 1.94% |
| 15 | 577.72K | 0.95% |
Check Detailed Paraguay-Russia Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast for Paraguay-Russia Trade
The Paraguay-Russia trade relationship is poised for continued volatility in the near term, driven by erratic Russian supply patterns and fluctuating demand for Paraguayan agricultural exports. While Paraguay maintains a strong trade surplus, the sharp slowdown in June exports and extreme import swings suggest potential headwinds. However, the core resource-for-resource complementarity—oil seeds for mineral fuels—provides a stable foundation. Traders should anticipate uneven growth, with Q3 2024 likely mirroring Q2’s volatility unless new trade agreements or supply chain adjustments are implemented.
Strategic Moves for Traders & Policymakers
- Lock in Long-Term Contracts for Oil Seeds: Given Russia’s reliance on Paraguayan agricultural exports, exporters should negotiate multi-year deals to stabilize revenue and mitigate price swings.
- Diversify Energy Imports Immediately: Paraguay’s over-dependence on Russian mineral fuels (87.48% of imports) is a critical vulnerability. Seek alternative suppliers in the Middle East or Latin America to reduce risk.
- Monitor Russian Sanctions Closely: With geopolitical tensions affecting Russian trade flows, Paraguayan traders must stay alert to potential disruptions and adjust sourcing or export routes proactively.
Frequently Asked Questions
How did Paraguay - Russia trade perform in 2024 Q2?
Paraguay's exports to Russia grew strongly in April (+89.36%) and May (+118.1%) but slowed in June (+16.0%), totaling $60.53M. Imports from Russia were highly volatile, surging 5921.99% in May but collapsing -88.95% in April, totaling $37.61M.
What are the top exports from Paraguay to Russia?
The top exports are HS Code 12 (Oil seeds and oleaginous fruits, 49.86% of total) and HS Code 02 (Meat and edible offal), together making up 97.11% of Paraguay's exports to Russia.
What does Paraguay import from Russia?
Paraguay primarily imports HS Code 27 (Mineral fuels, oils, 87.48% of total) from Russia, reflecting a dependency on Russian energy products.
What is the trade balance between Paraguay and Russia?
Paraguay holds a $22.92M trade surplus with Russia in Q2 2024, driven by higher exports of agricultural goods compared to energy imports.
Paraguay - Russia Trade 2024 Q1: Surplus Amid Decline
Paraguay's Russia trade trend shows a $14.6M surplus despite sharp declines. Meat dominates Paraguay Russia top trading product, while fuels lead imports. Data via yTrade.
Paraguay - Russia Trade 2024 Q3: Deficit Widens
Paraguay's Russia trade trend shows a $10.47M deficit as meat exports fall and mineral fuel imports surge. Explore Paraguay Russia top trading product data via yTrade.
