Paraguay - United States Trade 2024 Whole Year: Volatile Deficit & Tech Exchange
Key Market Takeaways: Paraguay - United States Trade
- The bilateral trade relationship between Paraguay and United States is marked by volatility and a persistent deficit in 2024.
- $1.15B imports vs. $413.80M exports create a $736.20M deficit, with Paraguay heavily reliant on U.S. goods despite erratic export spikes (e.g., +150% YoY in October).
- Paraguay - United States trade statistics reveal a resource-for-tech exchange: meat/oilseeds (60% of exports) for U.S. refined fuels (45% of imports) and industrial goods.
- Asymmetric interdependence: The U.S. holds value-chain dominance, while Paraguay’s commodity-driven exports lack counterbalance.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Paraguay-United States Trade Trend in Whole Year 2024
Paraguay Export Performance: Shipments to United States
- Total Volume: $413.80M in 2024.
- Growth Trend & Context:
- YoY swings were volatile, ranging from -5.0% (Mar) to +150.28% (Oct). The latter’s surge (+78.18% MoM) drove annual growth.
- No specific trade news to contextualize trends.
- Key Volatility: October’s exports spiked 78.18% MoM, while November saw a sharp -40.25% contraction.
Paraguay Import Performance: Sourcing from United States
- Total Volume: $1.15B in 2024.
- Growth Trend & Context:
- YoY was predominantly negative (6 of 12 months), with August’s -33.58% being the steepest. February’s +126.25% YoY was an outlier.
- Key Volatility: August imports plummeted -32.45% MoM, while July posted the highest monthly value ($121.35M).
Paraguay - United States Trade Balance & Market Dynamics
- Net Position: Trade deficit of $736.20M (Imports $1.15B > Exports $413.80M).
- Relationship Status: Paraguay remains heavily dependent on U.S. imports, with exports failing to offset the deficit despite October’s exceptional performance.
Paraguay Import Trend from United States 2024 Whole Year (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 101.88M | 8.74% | -41.66% |
| Feb | 109.64M | 7.62% | 126.25% |
| Mar | 91.82M | -16.26% | 6.09% |
| Apr | 104.10M | 13.38% | 52.26% |
| May | 89.19M | -14.32% | -24.68% |
| Jun | 102.76M | 15.21% | -16.29% |
| Jul | 121.35M | 18.09% | 1.23% |
| Aug | 81.97M | -32.45% | -33.58% |
| Sep | 90.73M | 10.68% | -27.47% |
| Oct | 100.03M | 10.25% | -15.18% |
| Nov | 79.90M | -20.12% | 5.44% |
| Dec | 76.77M | -3.91% | -18.05% |
| Total | 1.15B | - | - |
Paraguay Export Trend to United States 2024 Whole Year (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 20.50M | 14.22% | 2.47% |
| Feb | 25.76M | 25.62% | 77.66% |
| Mar | 22.80M | -11.46% | -5.0% |
| Apr | 28.28M | 23.99% | 37.19% |
| May | 28.36M | 0.3% | 44.53% |
| Jun | 33.53M | 18.24% | 66.66% |
| Jul | 38.67M | 15.33% | 71.76% |
| Aug | 30.43M | -21.3% | -26.84% |
| Sep | 38.35M | 26.01% | 56.98% |
| Oct | 68.33M | 78.18% | 150.28% |
| Nov | 40.83M | -40.25% | 68.73% |
| Dec | 37.96M | -7.02% | 111.45% |
| Total | 413.80M | - | - |
Get Historical Paraguay United States Trade Records
Paraguay-United States Top Trading Products in Whole Year 2024
Paraguay Export Profile: What Does Paraguay Sell to United States
- Top Commodity: Rank #1 Export is HS 02 (Meat and edible meat offal) with a 35.49% share.
- Demand Driver: United States imports these for its consumer market, likely driven by demand for protein sources.
- Concentration: The top 3 exports (HS 02, 12, 71) account for 60.73% of total exports, indicating moderate concentration.
Paraguay Import Profile: What Does Paraguay Buy from United States
- Top Commodity: Rank #1 Import is HS 27 (Mineral fuels, oils, distillation products) with a 44.77% share.
- Dependency Nature: This reflects energy security dependency, as Paraguay relies on the U.S. for refined petroleum products.
Paraguay - United States Trade Relationship Dynamics
- The Exchange Model: Resource-for-Tech Complementarity. Paraguay exports raw materials (meat, oilseeds, hides) and imports high-value industrial goods (machinery, chemicals, aircraft).
- Value Chain Position: The U.S. holds the higher value-add position, supplying advanced manufactured goods, while Paraguay provides primary commodities.
Import Analysis by Product: United States to Paraguay (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 27 | 514.92M | 44.77% |
| 84 | 109.01M | 9.48% |
| 87 | 60.63M | 5.27% |
| 31 | 58.89M | 5.12% |
| 85 | 55.57M | 4.83% |
| 33 | 50.70M | 4.41% |
| 30 | 46.49M | 4.04% |
| 39 | 38.30M | 3.33% |
| 38 | 35.69M | 3.10% |
| 88 | 30.96M | 2.69% |
Export Analysis by Product: Paraguay to United States (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 02 | 146.84M | 35.49% |
| 12 | 64.97M | 15.70% |
| 71 | 39.46M | 9.54% |
| 42 | 29.31M | 7.08% |
| 17 | 22.66M | 5.48% |
| 44 | 22.25M | 5.38% |
| 23 | 20.56M | 4.97% |
| 85 | 13.42M | 3.24% |
| 62 | 10.84M | 2.62% |
| 35 | 6.51M | 1.57% |
Check Detailed Paraguay-United States Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast
The Paraguay - United States trade relationship is expected to remain volatile in the near term, driven by fluctuating commodity demand and energy dependency. While Paraguay’s meat exports (HS 02) may sustain growth due to steady U.S. protein demand, the trade deficit will likely persist unless export diversification accelerates. October’s export surge suggests untapped potential, but erratic monthly swings demand caution. Energy imports (HS 27) will continue dominating Paraguay’s purchases, reinforcing the need for strategic adjustments to rebalance trade flows.
Strategic Moves
- Diversify Export Markets: Paraguayan exporters must target alternative U.S. sectors beyond meat, such as organic grains (HS 12) or leather goods (HS 41), to reduce reliance on a few commodities.
- Lock in Energy Supply Contracts: Given Paraguay’s heavy dependence on U.S. mineral fuels (HS 27), importers should negotiate long-term agreements to hedge against price volatility and supply disruptions.
- Invest in Value-Added Processing: To climb the value chain, Paraguay should incentivize domestic processing of raw materials (e.g., meat packaging, oilseed refining) to capture higher margins and reduce the trade deficit.
Frequently Asked Questions
How did Paraguay - United States trade perform in 2024 Whole Year?
Paraguay exported $413.80M to the United States, with volatile YoY swings, while imports totaled $1.15B, resulting in a trade deficit.
What are the top exports from Paraguay to United States?
The top exports are HS 02 (Meat and edible meat offal), HS 12 (Oilseeds), and HS 71 (Pearls, precious stones), accounting for 60.73% of total exports.
What does Paraguay import from United States?
The top import is HS 27 (Mineral fuels, oils, distillation products), reflecting Paraguay’s energy dependency on the U.S.
What is the trade balance between Paraguay and United States?
Paraguay recorded a trade deficit of $736.20M, with imports ($1.15B) significantly exceeding exports ($413.80M).
Paraguay - United States Trade 2023 Q3: Deficit-Driven Exchange
Paraguay's trade deficit with the U.S. hit $279.84M in Q3 2023, driven by energy imports and volatile exports. Explore Paraguay United States trade trends and top trading products via yTrade data.
Paraguay - United States Trade 2024 Q1: Deficit & Energy Dependence
Paraguay's trade deficit with the U.S. hit $234M in Q1 2024, driven by surging fuel imports. See Paraguay United States trade trends and top trading products on yTrade.
