Top Paraguay Exports 2023 Q1: Commodity Dominance

Paraguay Export Portfolio Overview in 2023 Q1

• Dominated by agricultural and energy sectors: oil seeds (HS 12, 36.4%) and mineral fuels (HS 27, 14.0%) lead.
• High concentration risk: top three sectors (soy, fuels, meat) account for 63.4% of total exports.
• Reflects Paraguay’s role as a commodity-driven economy, heavily reliant on primary resource extraction and agro-exports.

Table: Paraguay Top Export Product in 2023 Q1 (Source: yTrade)

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Key Driver: Oil Seeds and Oleaginous Fruits

• Dominated by soybeans (HS 1201, 96.9% of sector value).
• Raw material export, indicating limited downstream processing.
• Driven by Paraguay’s fertile land, favorable climate, and competitive farm scale—not tech or labor advantage.

Table: HS Code 12 Detailed Breakdown

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Key Driver: Mineral Fuels

• Almost entirely electricity (HS 2716, 100% of sector).
• Acts as a complement: leverages Paraguay’s hydroelectric surplus from Itaipú and Yacyretá dams.
• Strategically diversifies exports beyond agriculture, though still tied to natural endowments.

Table: HS Code 27 Detailed Breakdown

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Key Driver: Meat and Edible Meat Offal

• Balanced between bovine meat (HS 0201, 48.6%) and other meat cuts (HS 0202, 45.5%).
• Stable legacy sector, reliant on pasture-based cattle farming and export agreements.
• Provides counterweight to crop volatility but remains exposed to commodity price swings and sanitary trade barriers.

Table: HS Code 02 Detailed Breakdown

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Frequently Asked Questions

What is Paraguay's largest export commodity in 2023 Q1?

The largest export category is Oil seeds and oleaginous fruits; miscellaneous grains, seeds and fruit (HS 12), valued at $966.05M. This sector is primarily driven by exports of Soybeans (HS 1201), which alone account for 96.94% of the sector's total value.

Which specific Oil seeds and oleaginous fruits products does Paraguay export most in 2023 Q1?

Within the Oil seeds and oleaginous fruits sector, the top exports are Soybeans (HS 1201, $936.46M) and Sunflower seeds (HS 1207, $27.12M), which together account for 99.75% of the sector's exports.

Does Paraguay export Mineral fuels, mineral oils and products in 2023 Q1?

Yes. Mineral fuels, mineral oils, and products (HS 27) is Paraguay's second-largest export sector, valued at $371.54M. It is almost entirely driven by Petroleum gases (HS 2716), which make up 99.99% of the sector.

What are the main industries driving Paraguay's economy?

Paraguay's export economy is heavily reliant on its top 3 industries:

1. Oil seeds and oleaginous fruits (HS 12, $966.05M)
2. Mineral fuels (HS 27, $371.54M)
3. Meat and edible meat offal (HS 02, $346.39M).
   Together, these sectors account for 63.4% of total exports, indicating a concentrated export structure.

How to find Paraguay Oil seeds and oleaginous fruits suppliers?

You can access a list of active suppliers and exporters for Oil seeds and oleaginous fruits (HS 12) using the yTrade database, which provides detailed shipment records and company contacts for soybeans and other key products.