Paraguay - United States Trade 2023 Whole Year: Volatile Deficit Dynamics
Key Market Takeaways: Paraguay - United States Trade
The bilateral trade relationship between Paraguay and United States is marked by volatile growth and a significant trade deficit in 2023.
- Economic Pulse: Paraguay posted a $993.15M trade deficit with the U.S., importing $1.27B (mostly energy) while exporting just $276.85M (agricultural goods). Volatility dominated both sides, with sharp monthly swings.
- Exchange Structure: Paraguay - United States trade statistics reveal a resource-for-tech dynamic: Paraguay supplies oilseeds (20.6% of exports) and leather, while the U.S. dominates with mineral fuels (47.9% of imports) and machinery.
- Strategic Interdependence: Heavy U.S. energy exports highlight Paraguay’s dependency, while its commodity shipments fill niche U.S. industrial needs—a lopsided but stable complementarity.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Paraguay-United States Trade Trend in Whole Year 2023
Paraguay Export Performance: Shipments to United States
- Total Volume: $276.85M in 2023.
- Growth Trend & Context:
- Mixed YoY performance: Strong growth in August (+108.48%) and July (+36.62%), but sharp declines in March (-49.13%) and February (-28.87%).
- No specific trade news or policy changes to contextualize trends.
- Key Volatility: August saw the highest export value ($41.60M) and the largest MoM surge (+84.76%), while December had the steepest MoM drop (-25.81%).
Paraguay Import Performance: Sourcing from United States
- Total Volume: $1.27B in 2023.
- Growth Trend & Context:
- Volatile YoY shifts: January (+150.27%) and May (+51.21%) saw spikes, but most months recorded declines (e.g., November -49.29%, December -45.5%).
- No relevant news to explain fluctuations.
- Key Volatility: January posted the highest import value ($174.63M) and YoY growth (+150.27%), while February had the steepest MoM collapse (-72.25%).
Paraguay - United States Trade Balance & Market Dynamics
- Net Position: Trade deficit of $993.15M (Imports $1.27B > Exports $276.85M).
- Relationship Status: Heavy reliance on U.S. imports, with exports failing to offset the imbalance. The deficit underscores Paraguay’s net importer role in this trade relationship.
Paraguay Import Trend from United States 2023 Whole Year (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 174.63M | 1.59% | 150.27% |
| Feb | 48.46M | -72.25% | -37.6% |
| Mar | 86.55M | 78.59% | 17.88% |
| Apr | 68.37M | -21.0% | -21.53% |
| May | 118.42M | 73.2% | 51.21% |
| Jun | 122.75M | 3.66% | -20.15% |
| Jul | 119.88M | -2.35% | 12.27% |
| Aug | 123.42M | 2.96% | -10.14% |
| Sep | 125.08M | 1.34% | -37.51% |
| Oct | 117.93M | -5.71% | -29.02% |
| Nov | 75.78M | -35.75% | -49.29% |
| Dec | 93.69M | 23.64% | -45.5% |
| Total | 1.27B | - | - |
Paraguay Export Trend to United States 2023 Whole Year (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 20.01M | 21.83% | 47.52% |
| Feb | 14.50M | -27.55% | -28.87% |
| Mar | 24.00M | 65.57% | -49.13% |
| Apr | 20.61M | -14.14% | 41.55% |
| May | 19.62M | -4.79% | 8.36% |
| Jun | 20.12M | 2.53% | 2.17% |
| Jul | 22.51M | 11.9% | 36.62% |
| Aug | 41.60M | 84.76% | 108.48% |
| Sep | 24.43M | -41.27% | 15.32% |
| Oct | 27.30M | 11.76% | -1.09% |
| Nov | 24.20M | -11.38% | 11.34% |
| Dec | 17.95M | -25.81% | 9.29% |
| Total | 276.85M | - | - |
Get Historical Paraguay United States Trade Records
Paraguay-United States Top Trading Products in Whole Year 2023
Paraguay Export Profile: What Does Paraguay Sell to United States
- Top Commodity: HS Code 12 (Oilseeds and misc. grains) dominates at 20.59% of exports.
- Demand Driver: United States uses these for industrial processing, likely in food or biofuel production.
- Concentration: No single category exceeds 50%, but the top 3 exports (HS 12, 42, 17) account for nearly half of total exports (49.52%).
Paraguay Import Profile: What Does Paraguay Buy from United States
- Top Commodity: HS Code 27 (Mineral fuels, oils) accounts for 47.89% of imports, a near-majority share.
- Dependency Nature: Energy security dependency, as Paraguay relies heavily on U.S. fuel imports.
Paraguay - United States Trade Relationship Dynamics
- The Exchange Model: Resource-for-Tech Complementarity. Paraguay exports agricultural raw materials (HS 12, 17) and leather goods (HS 42) while importing energy (HS 27) and machinery (HS 84, 85).
- Value Chain Position: United States holds the higher value-add position, supplying technology and energy, while Paraguay provides low-margin commodities.
Import Analysis by Product: United States to Paraguay (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 27 | 610.62M | 47.89% |
| 84 | 97.44M | 7.64% |
| 30 | 78.76M | 6.18% |
| 31 | 73.88M | 5.79% |
| 87 | 53.18M | 4.17% |
| 38 | 50.11M | 3.93% |
| 85 | 47.62M | 3.74% |
| 33 | 46.75M | 3.67% |
| 39 | 34.44M | 2.70% |
| 90 | 28.68M | 2.25% |
Export Analysis by Product: Paraguay to United States (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 12 | 56.99M | 20.59% |
| 42 | 48.41M | 17.48% |
| 17 | 31.69M | 11.45% |
| 35 | 25.65M | 9.27% |
| 23 | 20.29M | 7.33% |
| 44 | 17.60M | 6.36% |
| 85 | 15.35M | 5.54% |
| 71 | 13.32M | 4.81% |
| 62 | 11.02M | 3.98% |
| 72 | 8.15M | 2.95% |
Check Detailed Paraguay-United States Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
The Forecast
Paraguay’s trade deficit with the United States is likely to persist in 2024, driven by continued reliance on U.S. energy imports (HS 27) and limited export diversification. However, volatile demand for Paraguayan agricultural goods (HS 12, 17) could create short-term export opportunities if global commodity prices rise. Traders should anticipate uneven monthly performance, mirroring 2023’s erratic growth and contraction cycles. Without policy intervention or new trade agreements, the structural imbalance will remain a long-term challenge.
Strategic Moves
- Diversify Export Markets: Paraguayan exporters must reduce dependence on the U.S. by targeting emerging Asian and EU buyers for oilseeds (HS 12) and leather goods (HS 42) to mitigate volatility risks.
- Lock in Energy Supply Contracts: Importers should negotiate long-term fuel (HS 27) procurement deals with U.S. suppliers to hedge against price spikes and ensure stable energy inflows.
- Invest in Value-Added Processing: Paraguay’s agricultural sector should prioritize upgrading raw material exports (e.g., refining soybeans into meal or oil) to capture higher margins and reduce reliance on low-margin commodity trade.
Frequently Asked Questions
How did Paraguay - United States trade perform in 2023 Whole Year?
Paraguay exported $276.85M to the United States and imported $1.27B, with mixed growth trends and a significant trade deficit.
What are the top exports from Paraguay to United States?
The top exports include Oilseeds and misc. grains (HS 12), leather goods (HS 42), and sugar products (HS 17), accounting for nearly half of total exports.
What does Paraguay import from United States?
Mineral fuels and oils (HS 27) dominate imports at 47.89%, followed by machinery (HS 84, 85), reflecting Paraguay’s energy and tech dependency.
What is the trade balance between Paraguay and United States?
Paraguay had a trade deficit of $993.15M in 2023, driven by heavy reliance on U.S. imports, particularly energy and machinery.
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