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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 20192020202120222023
Imports of Goods (million USD) 12,54410,21713,56015,85316,105
Exports of Goods (million USD) 7,9688,51810,5479,95711,891
Imports of Services (million USD) 2,0411,2521,7222,3982,444
Exports of Services (million USD) 2,2031,3841,5982,1552,544
Imports of Goods and Services (Annual % Change) -2-15226n/a
Exports of Goods and Services (Annual % Change) -3-92-2n/a
Trade Balance (million USD) 2031,226629-1,929n/a
Foreign Trade (in % of GDP) 71637074n/a
Imports of Goods and Services (in % of GDP) 35293439n/a
Exports of Goods and Services (in % of GDP) 36333534n/a

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

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Main Partner Countries

Main Customers
(% of Exports)
2023
Argentina 36.1%
Brazil 25.3%
Chile 9.7%
United States 2.3%
Russia 2.2%
See More Countries 24.3%
Main Suppliers
(% of Imports)
2023
China 33.6%
Brazil 24.4%
United States 7.9%
Argentina 7.2%
Germany 2.1%
See More Countries 24.7%

Source: Comtrade, Latest Available Data

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Main Products

11.9 bn USD of products exported in 2023
Soya beans, whether or not brokenSoya beans, whether or not broken 28.8%
Electrical energyElectrical energy 13.2%
Oilcake and other solid residues, whether or not...Oilcake and other solid residues, whether or not ground or in the form of pellets, resulting from the extraction of soya-bean oil 7.4%
Meat of bovine animals, fresh or chilledMeat of bovine animals, fresh or chilled 6.7%
Maize or cornMaize or corn 6.3%
See More Products 37.5%
16.1 bn USD of products imported in 2023
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) 12.9%
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 12.3%
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) 3.4%
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 2.6%
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. 2.6%
See More Products 66.1%

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

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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.
 
 
 

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Latest Update: May 2024