Paraguay - United States Trade 2024 Q4: Deficit Amid Export Surge

Key Market Takeaways: Paraguay - United States Trade

The bilateral trade relationship between Paraguay and United States showed strong export growth but remained in deficit in Q4 2024.

• Economic Pulse: Paraguay posted a $109.58M trade deficit with the U.S., though exports surged (+150.28% YoY peak) while imports declined (-18.05% YoY low).
• Exchange Structure: Paraguay - United States trade statistics reveal a resource-for-tech model—Paraguay supplies meat (48.1% of exports) and imports U.S. energy (28.3%) and machinery.
• Strategic Interdependence: Complementary but asymmetric—Paraguay relies on U.S. for critical inputs, while the U.S. benefits from agricultural commodities.

This bilateral trade snapshot is based on verified customs data from the yTrade database.

Paraguay-United States Trade Trend in Q4 2024

Paraguay Export Performance: Shipments to United States

• Total Volume: $147.12M in Q4 2024.
• Growth Trend & Context:
  • YoY growth was exceptionally strong, with October (+150.28%) and December (+111.45%) posting triple-digit increases. November also rose sharply (+68.73%).
  • No specific trade news or policy changes were reported to explain this surge.
• Key Volatility: October saw a massive MoM jump (+78.18%), followed by a sharp contraction in November (-40.25%).

Paraguay Import Performance: Sourcing from United States

• Total Volume: $256.70M in Q4 2024.
• Growth Trend & Context:
  • YoY performance was mixed: November imports grew (+5.44%), but October (-15.18%) and December (-18.05%) declined.
  • No relevant news or supply shocks were reported.
• Key Volatility: November recorded the steepest MoM drop (-20.12%), while October had the highest absolute value ($100.03M).

Paraguay - United States Trade Balance & Market Dynamics

• Net Position: Paraguay ran a trade deficit of $109.58M (Exports $147.12M - Imports $256.70M).
• Relationship Status: Paraguay remains a net importer from the U.S., though export growth outpaced imports in Q4. The deficit narrowed compared to 2023, suggesting improving trade dynamics.

Paraguay Import Trend from United States 2024 Q4 (Source: yTrade)**

Paraguay Export Trend to United States 2024 Q4 (Source: yTrade)**

Get Historical Paraguay United States Trade Records

Paraguay-United States Top Trading Products in Q4 2024

Paraguay Export Profile: What Does Paraguay Sell to United States

• Top Commodity: HS Code 02 (Meat and edible meat offal) dominates at 48.10% of total exports.
• Demand Driver: United States imports these agricultural products for consumer market consumption.
• Concentration: Trade is highly concentrated, with the top commodity accounting for nearly half of all exports.

Paraguay Import Profile: What Does Paraguay Buy from United States

• Top Commodity: HS Code 27 (Mineral fuels, oils, and distillation products) leads at 28.32% of total imports.
• Dependency Nature: Reflects energy security dependency, as Paraguay relies on U.S. for refined petroleum products.

Paraguay - United States Trade Relationship Dynamics

• The Exchange Model: Resource-for-Tech Complementarity. Paraguay exports raw agricultural goods (HS 02, 12) while importing energy (HS 27) and machinery (HS 84, 85).
• Value Chain Position: United States holds the higher value-add position, supplying technology and processed goods, while Paraguay provides primary commodities.

Import Analysis by Product: United States to Paraguay (Source: yTrade)

Export Analysis by Product: Paraguay to United States (Source: yTrade)

Check Detailed Paraguay-United States Trade HS Code Breakdown

Future Outlook & Strategic Recommendations

Forecast

The Paraguay - United States trade forecast remains bullish for 2025, driven by Paraguay’s surging agricultural exports (HS 02) and sustained U.S. demand for primary commodities. Despite the current deficit, the narrowing gap suggests Paraguay is gaining leverage in the relationship, especially if export growth continues at triple-digit rates. However, volatility in monthly shipments—particularly the sharp October-November swings—warrants caution. Energy imports (HS 27) will likely remain a structural dependency, but exporters should capitalize on the U.S. consumer market’s appetite for Paraguayan meat.

Strategic Moves

• Lock in Agri-Export Contracts: Paraguayan meat producers must secure long-term agreements with U.S. buyers to stabilize revenue amid volatile monthly volumes.
• Diversify Energy Suppliers: Reduce reliance on U.S. mineral fuels (HS 27) by exploring alternative suppliers in Latin America or renewable energy investments.
• Upgrade Logistics for Meat Exports: Invest in cold-chain infrastructure to minimize spoilage and meet U.S. food safety standards, ensuring consistent delivery performance.

Frequently Asked Questions

How did Paraguay - United States trade perform in 2024 Q4?

Paraguay's exports to the U.S. surged with triple-digit YoY growth in October (+150.28%) and December (+111.45%), totaling $147.12M. Imports from the U.S. declined (-15.18% in October, -18.05% in December), reaching $256.70M.

What are the top exports from Paraguay to United States?

Meat and edible meat offal (HS Code 02) dominate, accounting for 48.10% of Paraguay’s total exports to the U.S.

What does Paraguay import from United States?

Mineral fuels, oils, and distillation products (HS Code 27) lead at 28.32% of imports, reflecting Paraguay’s energy dependency on the U.S.

What is the trade balance between Paraguay and United States?

Paraguay ran a trade deficit of $109.58M (exports $147.12M - imports $256.70M), though the gap narrowed compared to 2023, signaling improving dynamics.