flag Paraguay Paraguay: Trade Profile

Foreign Trade in Figures

Although it is a landlocked country, Paraguay is open to international trade, which represents 71% of the country’s GDP (World Bank, latest data available). Even though Paraguay is a founding member of Mercosur, the country was excluded from the bloc in 2012 due to President Fernando Lugo’s impeachment, but soon re-joined the group in 2013, after President Horacio Cartes was elected. The country mainly exports meat (18.4%), electrical energy (16.8%), cereals (15%), and oilseeds and oleaginous fruits (14%); while imports are led by fuels (16.5%), electrical machinery and equipment (15.6%), boilers, machinery, and other (11.6%), motor vehicles, tractors (8.0%), fertilizers (4.9% - data Directorate for Foreign Trade and Investment 2022).

According to official data, Paraguay’s main export partners in 2022 were Brazil (USD 3,663 million), Argentina (USD 1,943 million), Chile (USD 1,137 million), Russia (USD 356 million), and the U.S. (USD 255 million). Concerning imports, they came chiefly from China (USD 4,222 million), Brazil (USD 3,483 million), the U.S. (USD 1,348 million), Argentina (USD 1,241 million), and Singapore (USD 357 million). The Government’s economic policy aims to increase international trade to boost the economy and develop competitive sectors, through low and uniform tariff protections. In an attempt to diversify its economic partners, the country has sought permanent membership in the Pacific Alliance trade bloc, as it is currently only an observer. Paraguay is a member of the WTO and Mercosur, and has trade agreements with Colombia, Egypt, Israel, Peru, Bolivia, Chile, Morocco, Mexico, and India, among others.

According to the WTO, in 2022, imports of goods amounted to USD 15.8 billion, marking a 16.9% increase year-on-year, while exports decreased by 5.6%, to USD 9.9 billion. Concerning the trade of services, imports totaled USD 2.3 billion, while exports amounted to USD 2.1 billion. In the same year, the World Bank estimated the country’s trade deficit to account for around 4.9% of GDP. Figures from Banco de Paraguay show that, in 2023, exports surged 19.5% year-on-year to USD 11.9 billion, against USD 15.6 billion in imports.

 
Foreign Trade Indicators 20182019202020212022
Imports of Goods (million USD) 13,33412,54410,21713,56015,853
Exports of Goods (million USD) 9,0427,9688,51810,5479,957
Imports of Services (million USD) 2,0332,0411,2521,7222,353
Exports of Services (million USD) 2,1262,2031,3841,5982,155
Imports of Goods and Services (Annual % Change) 8-2-15226
Exports of Goods and Services (Annual % Change) -0-3-92-2
Trade Balance (million USD) 5732031,226629-1,929
Foreign Trade (in % of GDP) 7271637074
Imports of Goods and Services (in % of GDP) 3535293439
Exports of Goods and Services (in % of GDP) 3736333534

Source: WTO – World Trade Organisation ; World Bank - Latest available data.

Return to top

Main Partner Countries

Main Customers
(% of Exports)
2022
Brazil 36.9%
Argentina 19.2%
Chile 11.6%
United States 2.6%
Uruguay 2.0%
See More Countries 27.7%
Main Suppliers
(% of Imports)
2022
China 29.5%
Brazil 23.2%
United States 9.3%
Argentina 8.4%
Singapore 2.4%
See More Countries 27.3%

Source: Comtrade, Latest Available Data

Return to top

 

Main Products

10.0 bn USD of products exported in 2022
Electrical energyElectrical energy 16.7%
Soya beans, whether or not brokenSoya beans, whether or not broken 12.3%
Maize or cornMaize or corn 10.9%
Meat of bovine animals, fresh or chilledMeat of bovine animals, fresh or chilled 8.9%
Meat of bovine animals, frozenMeat of bovine animals, frozen 8.5%
See More Products 42.6%
15.9 bn USD of products imported in 2022
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals 15.2%
Telephone sets, incl. telephones for cellular...Telephone sets, incl. telephones for cellular networks or for other wireless networks; other apparatus for the transmission or reception of voice, images or other data, incl. apparatus for communication in a wired or wireless network [such as a local or wide area network]; parts thereof (excl. than transmission or reception apparatus of heading 8443, 8525, 8527 or 8528) 7.6%
Motor cars and other motor vehicles principally...Motor cars and other motor vehicles principally designed for the transport of persons, incl. station wagons and racing cars (excl. motor vehicles of heading 8702) 3.6%
Insecticides, rodenticides, fungicides, herbicides...Insecticides, rodenticides, fungicides, herbicides, anti-sprouting products and plant-growth regulators, disinfectants and similar products, put up for retail sale or as preparations or articles, e.g. sulphur-treated bands, wicks and candles, and fly-papers 3.0%
Automatic data-processing machines and units...Automatic data-processing machines and units thereof; magnetic or optical readers, machines for transcribing data onto data media in coded form and machines for processing such data, n.e.s. 2.5%
See More Products 68.1%

Source: Comtrade, Latest Available Data

 

To go further, check out our service Import controls and Export controls

To go further, check out our service Import-Export Flows

 
 

Main Services

Source: United Nations Statistics Division, Latest Available Data

Return to top

 

List of tariffs and local taxes that apply to your product on our service Customs Duties

 

Trade Compliance

International Conventions
Member of the World Trade Organization (WTO)
International Economic Cooperation
Member of Mercado Comun del Sur (MERCOSUR)

 

Member of Latin American Integration Association

Member of Free Trade Area of the Americas (FTAA)

The country have signed a trade agreement with 21 other countries in the São Paulo Round of the Global System of Trade Preferences among Developing Countries (GSTP).

Useful Resources
Department of Customs (Spanish)
National Organisation of Intellectual Property
Visit the website of DINAPI (National Directorate of Intellectual Property, in Spanish).
For more contact information, visit this page.
 
 
 

Return to top

Any Comment About This Content? Report It to Us.

 

© eexpand, All Rights Reserved.
Latest Update: May 2024

Return to top