flag Paraguay Paraguay: Trade Profile

Foreign Trade in Figures

Although it is a landlocked country, Paraguay is open to international trade, which represents 65% of the country’s GDP. 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. Paraguay is the 93rd largest exporter and the 100th largest importer in the world. The country mainly exports soya beans (25.2%), electrical energy (20.4%), meat of bovine animals (13.1%), oil-cake and other solid residues (9%), and soya-bean oil and its fractions (4.9%). Its main imports include electrical apparatus for line telephony (11.3%), petroleum oils (11.2%), motor vehicles (4%), insecticides (3.5%), and mineral or chemical fertilisers (2.2%). According to IMF Foreign Trade Forecasts, the volume of exports of goods and services increased by an estimated 15% in 2021 and is expected to increase by 6.5% in 2022, while the volume of imports of goods and services decreased by an estimated 2.4% in 2021 and is expected to increase by 4.9% in 2022.

Paraguay's main trade partners are Brazil, Argentina, China, the United States, Chile, Russia, and Singapore. The Government’s economic policy aims to increase international trade in order to boost the economy and to develop competitive sectors, through low and uniform tariff protections. In an attempt to diversify its economic partners, the country has sought permanent membership to the Pacific Alliance trade bloc, as it is currently only an observer. Additionally, the relatively improved economic situation in Brazil and Argentina - Paraguay's main trade partners - should further benefit Paraguayan exports. However, restrictions on access to credit and high interest rates, as well as the high cost of transportation and telecommunication services, are still major obstacles to the expansion of trade in the country. Paraguay is a member of the WTO and Mercosur, and has trade agreements with Colombia, Egypt, Israel, Peru, Bolivia, Chile, Morocco, Mexico, and India.

While it has remained in surplus, Paraguay’s trade balance has been unstable since 2006. In 2020, the country’s trade balance was positive and amounted to USD 1,250 billion. According to the WTO, imports of goods amounted to USD 10,2 billion, while exports reached USD 8,5 billion. Exports increased mainly due to a surge in the value of re-exports and to increased soybean sales, while imports for domestic consumption grew driven by food, beverages, textiles and the acquisition of durable goods, such as automobiles and electrical appliances. Concerning the trade of services, the imports were equal to USD 866 million, while exports amounted to USD 655 million.

Foreign Trade Indicators 20162017201820192020
Imports of Goods (million USD) 9,75311,87513,33412,54410,217
Exports of Goods (million USD) 8,4948,6809,0457,6528,529
Imports of Services (million USD) 1,0931,1751,2441,212866
Exports of Services (million USD) 965938990967655
Imports of Goods and Services (Annual % Change) 1128-2-14
Exports of Goods and Services (Annual % Change) 98-0-3-4
Trade Balance (million USD) 2,0731,6935862201,250
Foreign Trade (in % of GDP) 6871737165
Imports of Goods and Services (in % of GDP) 3133363531
Exports of Goods and Services (in % of GDP) 3738373635

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

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Main Partner Countries

Main Customers
(% of Exports)
Brazil 35.5%
Argentina 24.9%
Chile 9.0%
Russia 5.6%
United States 2.0%
See More Countries 22.9%
Main Suppliers
(% of Imports)
China 29.5%
Brazil 23.4%
Argentina 9.3%
United States 6.8%
Singapore 3.8%
See More Countries 27.3%

Source: Comtrade, Latest Available Data

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Main Products

10.6 bn USD of products exported in 2021
Soya beans, whether or not brokenSoya beans, whether or not broken 28.2%
Electrical energyElectrical energy 15.3%
Meat of bovine animals, fresh or chilledMeat of bovine animals, fresh or chilled 7.5%
Meat of bovine animals, frozenMeat of bovine animals, frozen 7.3%
Oil-cake and other solid residues, whether or not...Oil-cake and other solid residues, whether or not ground or in the form of pellets, resulting from the extraction of soya-bean oil 7.2%
See More Products 34.5%
13.6 bn USD of products imported in 2021
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 11.9%
Electrical apparatus for line telephony or line...Electrical apparatus for line telephony or line telegraphy, incl. line telephone sets with cordless handsets and telecommunication apparatus for carrier-current line systems or for digital line systems; videophones; parts thereof 8.5%
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%
Mineral or chemical fertilizers containing two or...Mineral or chemical fertilizers containing two or three of the fertilizing elements nitrogen, phosphorus and potassium; other fertilizers (excl. pure animal or vegetable fertilizers or mineral or chemical nitrogenous, phosphatic or potassic fertilizers); animal, vegetable, mineral or chemical fertilizers in tablets or similar forms or in packages of a gross weight of <= 10 kg 2.6%
See More Products 71.0%

Source: Comtrade, 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 World Trade Organisation
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: September 2022