In Paraguay, the foreign trade sector experienced a significant development in October, with a surplus of US$ 57 million recorded. This financial achievement was the result of a shift in import and export dynamics during the month.
Key points from the Central Bank of Paraguay’s foreign trade report for October include:
– Exports amounted to US$ 13.6649 billion
– Imports were valued at US$ 13.6077 billion
– Sales decreased by 4.5% year-on-year
– Purchases increased by 5.1%
The decline in exports was primarily attributed to reduced sales of electric energy, along with a decrease in corn shipments and the decline in soybean meal and oil prices. Notably, shipments made under the maquila regime saw an 8% increase compared to the same period in 2023, totaling US$ 927.4 million. Sales of primary products, especially corn and sesame seeds, reached US$ 3.754 billion in October.
Conversely, imports saw a 5% growth year-on-year, with registered imports constituting 97% of the total, amounting to US$ 13.2167 billion – a 6.6% increase from October 2023. The volume of imports also saw a substantial rise of 13.3%, as reported by the Central Bank of Paraguay.
The resilience and adaptability demonstrated by Paraguay’s foreign trade sector underpins the nation’s economic stability and growth trajectory. It is imperative for stakeholders and policymakers to continue monitoring and supporting the industry to ensure continued success in the global market. Embracing innovation and diversification strategies will be key in navigating the evolving landscape of international trade.
