Paraguayan Exports Plummet, But These Items Are Bucking the Trend!

Paraguayan Export Trends: A Closer Look at the Numbers

Paraguay’s latest export figures have painted a mixed picture for the country’s economy. While overall exports witnessed a decline of 7.7% in 2024, some sectors managed to shine through with remarkable growth. Let’s delve deeper into the numbers to uncover the underlying trends and implications for Paraguay’s trade landscape.

Total Exports and Imports:

Total exports amounted to US$15.84 billion, signaling a slight increase compared to the previous year.
Imports, on the other hand, stood at nearly US$16.38 billion, resulting in a trade deficit of US$538.8 million.

Primary Products:

Exports of primary products, including corn and soybeans, reported a significant decrease of 12.6% in monetary value.
Despite this, the volume of primary product exports only dipped by 0.5%, amounting to 56.7 thousand tons.

Manufactured Goods:

The export of manufactured goods of industrial origin saw a positive trend, with a notable 14% increase.
Aluminum products and textile articles emerged as top performers, with growth rates of nearly 70% and 23%, respectively.
Other products like wires, cables, and agricultural chemicals also showcased growth ranging from 12.4% to 14%.

Agricultural Sector:

Parboiled rice exports experienced a modest increase of 6.4%, while wheat exports surged by an impressive 90%.
Maquila, as a subsector, recorded a growth rate of 10.4% in its exports.
However, agrifood exports faced challenges, with a 5.3% reduction in soybean meal and oil exports.

Impact of Argentine Policies:

The rise in fruit and vegetable prices in Paraguay has been attributed to external factors, including measures implemented by Argentina’s Libertarian government.
Factors such as seasonal fluctuations and adverse weather conditions have led to reduced domestic production, prompting traders to resort to imports from Argentina, where prices have become less competitive.

In conclusion, while Paraguay’s export landscape presents a mixed bag of results, there is room for optimism in certain sectors that have shown resilience and growth. Understanding the nuances of these trends and external influences is crucial for policymakers and stakeholders to navigate challenges and capitalize on opportunities in the global market.