Paraguay - United States Trade 2024 Q1: Deficit & Energy Dependence
Key Market Takeaways: Paraguay - United States Trade
The bilateral trade relationship between Paraguay and United States shows growth with high volatility in 2024 Q1.
- Deficit-Driven Trade: Paraguay runs a $234.27M trade deficit (exports: $69.06M, imports: $303.33M), with imports swinging sharply (+126.25% YoY in February) while exports struggle to keep pace.
- Resource-for-Tech Exchange: Paraguay - United States trade statistics reveal an asymmetric flow—Paraguay supplies agricultural raw materials (oil seeds, HS 12) and imports U.S. energy (HS 27, 53.11% share) and machinery, highlighting a classic commodity-for-tech dynamic.
- Strategic Energy Dependence: Paraguay’s heavy reliance on U.S. fuel imports signals vulnerability, while the U.S. secures low-value inputs, creating a lopsided but interdependent partnership.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Paraguay-United States Trade Trend in Q1 2024
Paraguay Export Performance: Shipments to United States
- Total Volume: $69.06M in Q1 2024.
- Growth Trend & Context:
- Mixed YoY performance: +2.47% in January, +77.66% in February (sharp rebound), but -5.0% contraction in March.
- No specific trade news to explain volatility.
- Key Volatility: February saw a 25.62% MoM surge, while March dropped 11.46% MoM.
Paraguay Import Performance: Sourcing from United States
- Total Volume: $303.33M in Q1 2024.
- Growth Trend & Context:
- Extreme YoY swings: -41.66% in January, +126.25% in February (recovery), then +6.09% in March.
- No relevant news to contextualize fluctuations.
- Key Volatility: March imports fell 16.26% MoM after February’s 7.62% rise.
Paraguay - United States Trade Balance & Market Dynamics
- Net Position: Trade deficit of $234.27M (Exports $69.06M vs. Imports $303.33M).
- Relationship Status: Heavy reliance on U.S. imports, with exports failing to offset the gap.
Paraguay Import Trend from United States 2024 Q1 (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% |
| Total | 303.33M | - | - |
Paraguay Export Trend to United States 2024 Q1 (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% |
| Total | 69.06M | - | - |
Get Historical Paraguay United States Trade Records
Paraguay-United States Top Trading Products in Q1 2024
Paraguay Export Profile: What Does Paraguay Sell to United States
- Top Commodity: HS Code 12 (Oil seeds and oleaginous fruits) dominates at 16.00% of exports.
- Demand Driver: United States uses these for industrial processing, likely in food or biofuel production.
- Concentration: Exports are diversified, with no single category exceeding 20% share.
Paraguay Import Profile: What Does Paraguay Buy from United States
- Top Commodity: HS Code 27 (Mineral fuels, oils) accounts for 53.11% of imports, indicating heavy reliance.
- Dependency Nature: Energy security dependency, as Paraguay sources over half its fuel imports from the U.S.
Paraguay - United States Trade Relationship Dynamics
- The Exchange Model: Resource-for-Tech Complementarity. Paraguay exports agricultural raw materials (HS 12, 02) and imports energy (HS 27) and machinery (HS 84, 85).
- Value Chain Position: United States holds the higher value-add position, supplying advanced machinery and fuels, while Paraguay provides primary commodities.
Import Analysis by Product: United States to Paraguay (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 27 | 161.10M | 53.11% |
| 84 | 24.96M | 8.23% |
| 31 | 16.68M | 5.50% |
| 85 | 15.05M | 4.96% |
| 87 | 14.03M | 4.62% |
| 39 | 9.98M | 3.29% |
| 33 | 9.64M | 3.18% |
| 30 | 8.35M | 2.75% |
| 90 | 6.60M | 2.18% |
| 38 | 5.69M | 1.88% |
Export Analysis by Product: Paraguay to United States (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 12 | 11.05M | 16.00% |
| 42 | 9.83M | 14.23% |
| 71 | 9.64M | 13.96% |
| 02 | 6.42M | 9.29% |
| 23 | 5.10M | 7.38% |
| 84 | 4.37M | 6.33% |
| 44 | 4.15M | 6.02% |
| 17 | 3.75M | 5.43% |
| 35 | 3.54M | 5.12% |
| 85 | 3.53M | 5.11% |
Check Detailed Paraguay-United States Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast
The Paraguay-United States trade relationship is likely to remain volatile in Q2 2024, with Paraguay’s export growth facing headwinds due to inconsistent demand for agricultural commodities (HS 12) and the U.S. maintaining its dominance in energy (HS 27) and machinery exports. However, February’s sharp rebound in Paraguayan shipments suggests latent demand for raw materials, which could stabilize if U.S. industrial activity picks up. The trade deficit will persist unless Paraguay diversifies its export basket or secures more favorable terms for energy imports.
Strategic Moves
- Diversify Export Markets: Paraguayan exporters should target alternative buyers for oil seeds (HS 12) and meat (HS 02) to reduce reliance on U.S. demand swings, mitigating future revenue volatility.
- Lock in Energy Contracts: Given the heavy dependence on U.S. mineral fuels (HS 27), Paraguayan importers must negotiate long-term supply agreements to hedge against price spikes and ensure stable energy inflows.
- Upgrade Trade Infrastructure: To compete in higher-value segments, Paraguay should invest in processing capabilities for agricultural exports, shifting from raw commodities to semi-finished goods (e.g., refined oils) to capture more value in the U.S. supply chain.
Frequently Asked Questions
How did Paraguay - United States trade perform in 2024 Q1?
Paraguay exported $69.06M to the U.S. with mixed YoY growth, while imports totaled $303.33M, showing extreme YoY swings.
What are the top exports from Paraguay to United States?
Oil seeds and oleaginous fruits (HS Code 12) dominate, accounting for 16.00% of Paraguay’s exports to the U.S.
What does Paraguay import from United States?
Mineral fuels and oils (HS Code 27) are the top import, making up 53.11% of Paraguay’s purchases from the U.S.
What is the trade balance between Paraguay and United States?
Paraguay recorded a trade deficit of $234.27M, with imports far exceeding exports due to heavy reliance on U.S. energy and machinery.
Paraguay - United States Trade 2024 Whole Year: Volatile Deficit & Tech Exchange
Paraguay United States trade trend shows a $736.20M deficit, with Paraguay's meat/oilseeds exchanged for U.S. tech goods. Explore Paraguay United States top trading product insights via yTrade data.
Paraguay - United States Trade 2024 Q2: Deficit & Growth
Paraguay's trade deficit with the U.S. hit $205.88M in Q2 2024, as meat exports surged 66.66% but energy imports dominated. Explore Paraguay United States trade trends & top trading products via yTrade data.
