Paraguay - Singapore Trade 2024 Q4: Deficit & Energy Dependence

Key Market Takeaways: Paraguay - Singapore Trade

The bilateral trade relationship between Paraguay and Singapore is marked by explosive growth and volatility in Q4 2024.

• Deficit-Driven Trade: Paraguay runs a $116.45M trade deficit with Singapore, driven by $117.79M in imports (mostly energy) vs. just $1.34M in exports (primarily meat).
• Resource-for-Tech Exchange: Paraguay - Singapore trade statistics reveal a lopsided commodity-for-energy dynamic: meat (52.91% of exports) swapped for mineral fuels (92.08% of imports).
• Strategic Energy Dependence: Paraguay’s heavy reliance on Singapore for fuel imports underscores a critical supply chain vulnerability.

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

Paraguay-Singapore Trade Trend in Q4 2024

Paraguay Export Performance: Shipments to Singapore

• Total Volume: $1.34M in Q4 2024.
• Growth Trend & Context:
  • YoY growth surged in November (+267.26%) and December (+185.78%), indicating a strong rebound or new demand drivers.
  • No specific trade news to explain the volatility.
• Key Volatility: December saw a 214.03% MoM spike, likely due to year-end demand or inventory adjustments.

Paraguay Import Performance: Sourcing from Singapore

• Total Volume: $117.79M in Q4 2024.
• Growth Trend & Context:
  • YoY imports exploded in December (+202.6%), suggesting a major one-time purchase or supply chain catch-up.
  • No relevant news to contextualize the swings.
• Key Volatility: December imports ($55.81M) dwarfed other months, with a 92.16% MoM jump.

Paraguay - Singapore Trade Balance & Market Dynamics

• Net Position: Trade Deficit of $116.45M (Imports $117.79M > Exports $1.34M).
• Relationship Status: Paraguay is heavily dependent on imports from Singapore, with minimal export activity in return. The deficit highlights a lopsided trade reliance.

Paraguay Import Trend from Singapore 2024 Q4 (Source: yTrade)**

Paraguay Export Trend to Singapore 2024 Q4 (Source: yTrade)**

Get Historical Paraguay Singapore Trade Records

Paraguay-Singapore Top Trading Products in Q4 2024

Paraguay Export Profile: What Does Paraguay Sell to Singapore

• Top Commodity: Rank #1 Export is HS Code 02 (Meat and edible meat offal) with a 52.91% share.
• Demand Driver: Singapore likely imports these for its consumer market, given the high share of meat products.
• Concentration: Trade is highly concentrated, with the top commodity accounting for over half of total exports.

Paraguay Import Profile: What Does Paraguay Buy from Singapore

• Top Commodity: Rank #1 Import is HS Code 27 (Mineral fuels, oils, and distillation products) with a 92.08% share.
• Dependency Nature: This reflects a critical energy security dependency, as Paraguay relies heavily on Singapore for fuel imports.

Paraguay - Singapore Trade Relationship Dynamics

• The Exchange Model: Resource-for-Tech Complementarity—Paraguay exports raw materials (meat) and imports energy products (fuels) from Singapore.
• Value Chain Position: Singapore holds the higher value-add position, supplying processed energy products, while Paraguay exports primary commodities.

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

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

Check Detailed Paraguay-Singapore Trade HS Code Breakdown

Future Outlook & Strategic Recommendations

Forecast

The Paraguay-Singapore trade relationship is poised for continued growth in 2025, driven by Singapore’s sustained demand for Paraguayan meat exports and Paraguay’s reliance on Singaporean fuel supplies. The explosive YoY growth in Q4 2024 suggests a structural shift rather than temporary volatility, particularly in energy imports. However, the widening trade deficit demands immediate strategic adjustments to rebalance the exchange. Traders should expect further expansion in fuel imports, while meat exporters must capitalize on Singapore’s consumer market to solidify their foothold.

Strategic Moves

• Diversify Export Markets: Paraguayan meat exporters should aggressively target alternative Asian markets to reduce overreliance on Singapore and mitigate trade deficit risks.
• Lock in Fuel Supply Contracts: Paraguayan importers must secure long-term agreements with Singaporean energy suppliers to stabilize pricing and ensure consistent fuel access amid global volatility.
• Boost Value-Added Exports: Paraguay should invest in meat processing capabilities to move up the value chain, enabling higher-margin product exports to Singapore and reducing the raw commodity dependency.

Frequently Asked Questions

How did Paraguay - Singapore trade perform in 2024 Q4?

Paraguay's exports to Singapore surged with YoY growth of +267.26% in November and +185.78% in December, totaling $1.34M. Imports from Singapore soared to $117.79M, driven by a 202.6% YoY spike in December.

What are the top exports from Paraguay to Singapore?

Meat and edible meat offal (HS Code 02) dominated Paraguay's exports to Singapore, accounting for 52.91% of total shipments.

What does Paraguay import from Singapore?

Mineral fuels, oils, and distillation products (HS Code 27) were the top imports, making up 92.08% of Paraguay's purchases from Singapore.

What is the trade balance between Paraguay and Singapore?

Paraguay recorded a trade deficit of $116.45M in Q4 2024, as imports ($117.79M) far exceeded exports ($1.34M). The gap widened sharply due to December's import surge.