Paraguay - United Kingdom Trade 2024 Q4: Widening Deficit
Key Market Takeaways: Paraguay - United Kingdom Trade
The bilateral trade relationship between Paraguay and United Kingdom shows volatile growth with a widening deficit in Q4 2024.
- Economic Pulse: Paraguay posted a $4.3M trade deficit with the UK, as imports ($29.29M) outpaced exports ($24.99M) by 17.2%. Volatile swings marked both sides, with exports surging 219.94% YoY in November before collapsing -77.03% MoM in December.
- Exchange Structure: Paraguay - United Kingdom trade statistics reveal a resource-for-energy dependency—Paraguay ships agricultural byproducts (48.06% of exports, HS 23) while relying on UK fuel supplies (53.82% of imports, HS 27).
- Strategic Interdependence: The UK holds the value-add advantage, supplying processed energy goods, while Paraguay remains locked in a raw-materials export role.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Paraguay-United Kingdom Trade Trend in Q4 2024
Paraguay Export Performance: Shipments to United Kingdom
- Total Volume: $24.99M in Q4 2024.
- Growth Trend & Context:
- Volatile YoY swings, from -75.7% in October to +219.94% in November.
- Key Volatility: November surged 213.2% MoM, while December collapsed -77.03%.
Paraguay Import Performance: Sourcing from United Kingdom
- Total Volume: $29.29M in Q4 2024.
- Growth Trend & Context:
- Consistently strong YoY growth (85.66% to 142.5%) despite a -42.34% MoM drop in November.
- Key Volatility: October spiked 127.06% MoM, then corrected sharply the next month.
Paraguay - United Kingdom Trade Balance & Market Dynamics
- Net Position: $4.3M trade deficit (Imports > Exports).
- Relationship Status: Paraguay remains a net importer from the UK, with imports outpacing exports by 17.2% in Q4.
Paraguay Import Trend from United Kingdom 2024 Q4 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Oct | 13.38M | 127.06% | 142.5% |
| Nov | 7.71M | -42.34% | 85.66% |
| Dec | 8.20M | 6.29% | 124.47% |
| Total | 29.29M | - | - |
Paraguay Export Trend to United Kingdom 2024 Q4 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Oct | 5.15M | -1.28% | -75.7% |
| Nov | 16.13M | 213.2% | 219.94% |
| Dec | 3.71M | -77.03% | 136.59% |
| Total | 24.99M | - | - |
Get Historical Paraguay United Kingdom Trade Records
Paraguay-United Kingdom Top Trading Products in Q4 2024
Paraguay Export Profile: What Does Paraguay Sell to United Kingdom
- Top Commodity: HS Code 23 (Residues and waste from the food industries) dominates at 48.06% of total exports.
- Demand Driver: United Kingdom likely uses these for industrial processing, possibly in animal feed or biofuel production.
- Concentration: The trade is highly concentrated, with the top commodity accounting for nearly half of all exports.
Paraguay Import Profile: What Does Paraguay Buy from United Kingdom
- Top Commodity: HS Code 27 (Mineral fuels, oils, and distillation products) leads at 53.82% of total imports.
- Dependency Nature: This suggests a critical energy security dependency, as Paraguay relies on the UK for fuel supplies.
Paraguay - United Kingdom Trade Relationship Dynamics
- The Exchange Model: Resource-for-Tech Complementarity. Paraguay exports low-value agricultural byproducts (HS 23) and imports high-value energy products (HS 27).
- Value Chain Position: The UK holds the higher value-add position, supplying processed energy goods, while Paraguay exports raw or semi-processed materials.
Import Analysis by Product: United Kingdom to Paraguay (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 27 | 15.77M | 53.82% |
| 22 | 4.95M | 16.89% |
| 87 | 3.46M | 11.80% |
| 90 | 909.53K | 3.10% |
| 30 | 782.89K | 2.67% |
| 38 | 743.12K | 2.54% |
| 84 | 736.72K | 2.51% |
| 33 | 418.38K | 1.43% |
| 40 | 401.97K | 1.37% |
| 21 | 302.85K | 1.03% |
Export Analysis by Product: Paraguay to United Kingdom (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 23 | 12.01M | 48.06% |
| 44 | 4.61M | 18.45% |
| 02 | 3.86M | 15.44% |
| 12 | 2.88M | 11.53% |
| 10 | 1.14M | 4.58% |
| 62 | 164.13K | 0.66% |
| 17 | 110.22K | 0.44% |
| 33 | 94.02K | 0.38% |
| 42 | 76.97K | 0.31% |
| 85 | 40.07K | 0.16% |
Check Detailed Paraguay-United Kingdom Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast for Paraguay - United Kingdom Trade
The Paraguay - United Kingdom trade relationship is expected to remain volatile but structurally imbalanced in the near term. Given the UK’s dominance in high-value energy exports (HS 27) and Paraguay’s reliance on low-margin agricultural byproducts (HS 23), the trade deficit is likely to persist unless Paraguay diversifies its export basket. However, the strong YoY growth in UK imports suggests sustained demand, which could stabilize trade volumes if Paraguay capitalizes on niche opportunities in processed food waste or biofuels. Traders should brace for continued price swings in energy imports while monitoring export demand spikes, particularly in Q1 2025.
Strategic Moves for Traders & Policymakers
- Lock in Fuel Supply Contracts: Given Paraguay’s heavy dependence on UK mineral fuels (HS 27), importers should negotiate long-term agreements to hedge against price volatility and ensure stable energy supply.
- Diversify Export Markets for HS 23: Exporters must reduce reliance on the UK by targeting alternative markets for food waste products (HS 23), such as the EU or Asia, where demand for biofuel feedstocks is rising.
- Invest in Upgrading Export Capacity: Paraguay should prioritize value addition for its agricultural byproducts (e.g., pelletizing waste for easier transport) to command higher prices and reduce the UK’s structural advantage in high-value goods.
Frequently Asked Questions
How did Paraguay - United Kingdom trade perform in 2024 Q4?
Paraguay exported $24.99M and imported $29.29M, with volatile growth trends including a 219.94% YoY surge in November exports and a 142.5% YoY import spike in October.
What are the top exports from Paraguay to United Kingdom?
HS Code 23 (Residues and waste from the food industries) dominated, accounting for 48.06% of Paraguay’s exports, likely used for industrial processing like animal feed or biofuels.
What does Paraguay import from United Kingdom?
HS Code 27 (Mineral fuels, oils, and distillation products) led imports at 53.82%, reflecting Paraguay’s energy security dependency on the UK.
What is the trade balance between Paraguay and United Kingdom?
Paraguay had a $4.3M trade deficit in Q4 2024, with imports exceeding exports by 17.2%, maintaining its net importer status.
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