Top Paraguay Exports 2024 Q1: Commodity Dominance

Paraguay Export Portfolio Overview in 2024 Q1

• Dominated by agricultural and resource sectors: soybeans and related products (HS 12, 37.3%) and mineral fuels (HS 27, 13.7%).
• High concentration risk: top three sectors (soy, fuels, meat) account for 64% of exports, leaving the economy exposed to commodity price swings and climate shocks.
• This structure reinforces Paraguay's role as a global supplier of bulk agricultural commodities and energy, with limited industrial diversification.

Table: Paraguay Top Export Product in 2024 Q1 (Source: yTrade)

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Key Driver: Oil seeds and oleaginous fruits

• Driven overwhelmingly by HS 1201 (soybeans), representing 96.5% of the sector's value.
• A raw material export, primarily shipped unprocessed for crushing and processing abroad.
• Reflects Paraguay's comparative advantage in large-scale, mechanized soybean farming, leveraging its fertile land and river transport access.

Table: HS Code 12 Detailed Breakdown

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Key Driver: Mineral fuels

• Entirely driven by HS 2716 (electrical energy), accounting for 100% of the sector.
• Acts as a counterweight to agriculture, providing a stable revenue stream from hydroelectric power exports to neighbors like Brazil and Argentina.
• Strategically important as a regional energy supplier, capitalizing on Itaipú and Yacyretá dam infrastructure.

Table: HS Code 27 Detailed Breakdown

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Key Driver: Meat and edible meat offal

• Split between frozen beef (HS 0202, 47.6%) and fresh/chilled beef (HS 0201, 46.4%).
• Represents a stable legacy sector with higher value-add than bulk soy, though still reliant on raw commodity exports.
• Supported by Paraguay’s extensive cattle ranching sector and sanitary status for key export markets.

Table: HS Code 02 Detailed Breakdown

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Frequently Asked Questions

What is Paraguay's largest export commodity in 2024 Q1?

The largest export category is Oil seeds and oleaginous fruits (HS 12), valued at $1.05B. This sector is primarily driven by exports of Soybeans (HS 1201), which alone account for 96.45% of the sector's total value.

Which specific Oil seeds and oleaginous fruits products does Paraguay export most in 2024 Q1?

Within the Oil seeds and oleaginous fruits sector, the top exports are Soybeans (HS 1201, $1.01B) and Sunflower seeds (HS 1207, $30.59M), which together account for 99.36% of the sector's exports.

Does Paraguay export Mineral fuels and oils in 2024 Q1?

Yes. Mineral fuels, mineral oils, and related products (HS 27) is Paraguay’s second-largest export sector, valued at $386.37M. The primary driver is Electrical energy (HS 2716), which makes up 100% of this category.

What are the main industries driving Paraguay's economy?

Paraguay’s economy is heavily reliant on its top 3 export sectors:

1. Oil seeds and oleaginous fruits (HS 12, $1.05B, 37.33%)
2. Mineral fuels and oils (HS 27, $386.37M, 13.73%)
3. Meat and edible meat offal (HS 02, $361.52M, 12.85%)

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.