Paraguay - United States Trade 2024 Q2: Deficit & Growth
Key Market Takeaways: Paraguay - United States Trade
The bilateral trade relationship between Paraguay and United States shows strong export growth but persistent deficit volatility in Q2 2024.
- Economic Pulse: Paraguay runs a $205.88M trade deficit with the U.S., with imports (primarily energy) outweighing exports (agricultural goods) by 3.3x. Exports surged 66.66% YoY in June, while imports fluctuated sharply.
- Exchange Structure: Paraguay - United States trade statistics reveal a resource-for-tech complementarity—Paraguay supplies meat (35.43% of exports) and imports U.S. mineral fuels (46.16% of imports) and machinery.
- Strategic Interdependence: The U.S. holds the high-value position, with Paraguay dependent on American energy and tech, while serving as a niche agricultural supplier.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Paraguay-United States Trade Trend in Q2 2024
Paraguay Export Performance: Shipments to United States
- Total Volume: $90.17M in Q2 2024.
- Growth Trend & Context:
- Strong YoY growth across all months (Apr: +37.19%, May: +44.53%, Jun: +66.66%), reflecting sustained demand.
- Key Volatility: June saw the highest MoM surge (+18.24%) and YoY jump (+66.66%), signaling accelerating momentum.
Paraguay Import Performance: Sourcing from United States
- Total Volume: $296.05M in Q2 2024.
- Growth Trend & Context:
- Mixed YoY performance (Apr: +52.26%, May: -24.68%, Jun: -16.29%), suggesting demand volatility.
- Key Volatility: May recorded the sharpest MoM drop (-14.32%) and YoY decline (-24.68%), indicating a mid-quarter contraction.
Paraguay - United States Trade Balance & Market Dynamics
- Net Position: Trade deficit of $205.88M (Imports exceed exports by 3.3x).
- Relationship Status: Heavy reliance on U.S. imports, with exports growing but not offsetting the deficit. No evidence of rebalancing in Q2.
Paraguay Import Trend from United States 2024 Q2 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Apr | 104.10M | 13.38% | 52.26% |
| May | 89.19M | -14.32% | -24.68% |
| Jun | 102.76M | 15.21% | -16.29% |
| Total | 296.05M | - | - |
Paraguay Export Trend to United States 2024 Q2 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Apr | 28.28M | 23.99% | 37.19% |
| May | 28.36M | 0.3% | 44.53% |
| Jun | 33.53M | 18.24% | 66.66% |
| Total | 90.17M | - | - |
Get Historical Paraguay United States Trade Records
Paraguay-United States Top Trading Products in Q2 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 35.43% share.
- Demand Driver: United States buys these for consumer market needs, indicating Paraguay serves as a food supplier.
- Concentration: Trade is moderately concentrated, with the top 3 exports (HS 02, 12, 71) accounting for 60.62% of total exports.
Paraguay Import Profile: What Does Paraguay Buy from United States
- Top Commodity: Rank #1 import is HS 27 (Mineral fuels, oils) with a 46.16% share.
- Dependency Nature: Reflects energy security dependency, as Paraguay relies on the U.S. for fuel supplies.
Paraguay - United States Trade Relationship Dynamics
- The Exchange Model: Resource-for-Tech Complementarity—Paraguay exports agricultural goods (HS 02, 12) and imports energy (HS 27) and machinery (HS 84).
- Value Chain Position: The U.S. holds the higher value-add position, supplying technology (HS 84, 85) and energy, while Paraguay provides raw materials.
Import Analysis by Product: United States to Paraguay (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 27 | 136.65M | 46.16% |
| 84 | 30.09M | 10.16% |
| 31 | 18.27M | 6.17% |
| 87 | 18.16M | 6.14% |
| 33 | 14.31M | 4.83% |
| 85 | 12.68M | 4.28% |
| 39 | 9.77M | 3.30% |
| 38 | 8.71M | 2.94% |
| 30 | 7.56M | 2.55% |
| 90 | 6.19M | 2.09% |
Export Analysis by Product: Paraguay to United States (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 02 | 31.95M | 35.43% |
| 12 | 12.99M | 14.41% |
| 71 | 9.72M | 10.78% |
| 42 | 7.53M | 8.35% |
| 44 | 5.64M | 6.25% |
| 23 | 5.15M | 5.71% |
| 85 | 2.98M | 3.31% |
| 62 | 2.48M | 2.75% |
| 17 | 2.47M | 2.74% |
| 11 | 2.25M | 2.50% |
Check Detailed Paraguay-United States Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast
The Paraguay - United States trade forecast for Q3 2024 points to continued export growth, driven by robust demand for Paraguayan meat (HS 02) and agricultural goods. However, the widening trade deficit signals persistent structural imbalances, with Paraguay’s reliance on U.S. energy imports (HS 27) unlikely to ease in the near term. Exporters should capitalize on accelerating momentum, while importers must prepare for potential volatility in fuel and machinery prices. Without diversification, the deficit could deepen further, straining Paraguay’s trade position.
Strategic Moves
- Lock in Meat Export Contracts: Paraguayan meat producers should secure long-term agreements with U.S. buyers to stabilize revenue amid rising global competition.
- Diversify Energy Suppliers: Reduce dependency on U.S. mineral fuels (HS 27) by exploring alternative markets in Latin America or renewable energy investments.
- Boost High-Value Agri-Exports: Target niche U.S. demand for organic or specialty crops (HS 12) to counterbalance the trade deficit and climb the value chain.
Frequently Asked Questions
How did Paraguay - United States trade perform in 2024 Q2?
Paraguay's exports to the U.S. grew strongly (YoY: +37.19% to +66.66%), totaling $90.17M, while imports from the U.S. were volatile, reaching $296.05M.
What are the top exports from Paraguay to United States?
The top exports are HS 02 (Meat and edible meat offal, 35.43% share), HS 12, and HS 71, accounting for 60.62% of total exports.
What does Paraguay import from United States?
The top import is HS 27 (Mineral fuels, oils, 46.16% share), reflecting Paraguay's energy security dependency on the U.S.
What is the trade balance between Paraguay and United States?
Paraguay had a trade deficit of $205.88M, with imports exceeding exports by 3.3x, showing no rebalancing in Q2 2024.
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.
Paraguay - United States Trade 2024 Q3: Deficit & Resource Exchange
Paraguay's trade deficit with the U.S. hits $186.6M in Q3 2024, driven by meat and oilseed exports for U.S. energy imports. Explore Paraguay United States trade trends and top trading products on yTrade.
