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2022
Flag → Flag
Exports $67.2MRnk 124 / 222
2022
Flag → Flag
Top Product $20.7MRefined Petroleum
2022
Flag → Flag
Exports $8.35MRnk 54 / 158
2022
Flag → Flag
Top Product $1.8MOther Mineral
2022
Flag
Economic Complexity (ECI) ECI 1.25Rnk 19 / 133
2022
Flag
Economic Complexity (ECI) ECI -0.34Rnk 81 / 133
2022
Flag  
GDP$579BCURRENT US$
Rnk 25 / 186
2012-2022
Flag
GDP GROWTH16.6%CURRENT US$
Rnk 131 / 186
2022
Flag
 GDP$41.7BCURRENT US$
Rnk 96 / 186
2012-2022
Flag
GDP GROWTH25.3%CURRENT US$
Rnk 110 / 186
2022
Flag
GDP PC $49,583CURRENT US$
Rnk 19 / 186
2012-2022
Flag
GDP PC GROWTH11%CURRENT US$
Rnk 112 / 186
2022
Flag
GDP PC$6,153CURRENT US$
Rnk 102 / 186
2012-2022
Flag
GDP PC GROWTH9.46%CURRENT US$
Rnk 120 / 186

About

Belgium-Paraguay Trade: In 2022, Belgium exported $67.2M to Paraguay. The main products that Belgium exported to Paraguay were Refined Petroleum ($20.7M), Vaccines, blood, antisera, toxins and cultures ($16.3M), and Pesticides ($5.16M). Over the past 5 years the exports of Belgium to Paraguay have increased at an annualized rate of 20%, from $27M in 2017 to $67.2M in 2022.

In 2022, Belgium did not export any services to Paraguay.

Paraguay-Belgium Trade: In 2022, Paraguay exported $8.35M to Belgium. The main products that Paraguay exported to Belgium were Other Mineral ($1.8M), Non-Iron and Steel Slag, Ash and Residues ($1.72M), and Raw Sugar ($1.51M). Over the past 5 years the exports of Paraguay to Belgium have increased at an annualized rate of 12.4%,  from $4.66M in 2017 to $8.35M in 2022.

In 2022, Paraguay did not export any services to Belgium.

Comparison: In 2022,  Belgium ranked 19 in the Economic Complexity Index (ECI 1.25), and 13 in total exports ($475B). That same year, Paraguay ranked 81 in the Economic Complexity Index (ECI -0.34), and 103 in total exports ($10.1B).

Latest Trends

August, 2024

About

Overview In August 2024, Belgium exported €1.12M and imported €224k from Paraguay, resulting in a positive trade balance of €894k. Between August 2023 and August 2024 the exports of Belgium have increased by €52.2k (4.9%) from €1.07M to €1.12M, while imports decreased by €-39.1k (-14.9%) from €263k to €224k.

Trade In August 2024, the top exports of Belgium to Paraguay were Cars, tractors, trucks & parts thereof. (€383k), Pharmaceutical products (€106k), Electrical machinery and electronics (€105k), Leather articles (€84.3k), and Inorganic chemicals (€52.1k). In August 2024 the top imports of Belgium from Paraguay were Copper articles (€549k), Sugars & confectioneries (€233k), Perfumery & cosmetics (€82k), Animal or vegetable fats, oils, &... (€2.1k), and Non-knitted clothing accesories (€238).

Growth In August 2024, the increase in Belgium's year-by-year exports to Paraguay was explained primarily by an increase in product exports in Cars, tractors, trucks & parts thereof. (€358k or 1.4k%), Pharmaceutical products (€89.6k or 540%), and Inorganic chemicals (€50.6k or 3.27k%). In August 2024, the decrease in Belgium's year-by-year imports  from Paraguay was explained primarily by an decrease in product imports  in Copper articles (€-3.42M or -86.2%), Sugars & confectioneries (€-129k or -35.7%), and Oils seeds, oleaginous fruits, grains, straw... (€-86.6k or -100%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (August 2023 - August 2024)€52.2k(4.9%)
IMPORT GROWTH (August 2023 - August 2024)€-39.1k(-14.9%)

This section shows exports and imports data at subnational level for Belgium. Click any date in the line plot or any product to explore the exports or imports behavior of Belgium over time.

To check Paraguay and Belgium trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Paraguay and Belgium Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Belgium exported $67.2M to Paraguay. The main products exported from Belgium to Paraguay were Refined Petroleum ($20.7M), Vaccines, blood, antisera, toxins and cultures ($16.3M), and Pesticides ($5.16M). During the last 5 years the exports of Belgium to Paraguay have increased at an annualized rate of 20%, from $27M in 2017 to $67.2M in 2022.

In 2017, Paraguay exported $8.35M to Belgium. The main products exported from Paraguay to Belgium were Other Mineral ($1.8M), Non-Iron and Steel Slag, Ash and Residues ($1.72M), and Raw Sugar ($1.51M). During the last 5 years the exports of Paraguay to Belgium have increased at an annualized rate of 12.4%, from $4.66M in 2022 to $8.35M in 2017.

Exports from Belgium (Flag) to Paraguay (Flag) (2022)

Exports from Paraguay (Flag) to Belgium (Flag) (2022)

Market Competitiveness

Color
Belgium
Top DestinationGermany$91.9B
Paraguay
Top DestinationBrazil$3.67B

This map shows whether countries import more from Belgium or Paraguay. Each country is colored based on the difference in imports they receive from Belgium and Paraguay or the difference in the growth in imports.

In 2022, countries that imported more from Belgium than Paraguay included Germany ($91.9B), France ($71.1B), and Netherlands ($65.7B).

In 2022, countries that imported more from Paraguay than Belgium included Argentina ($1.91B), Chile ($1.16B), and Brazil ($3.67B).

Difference in imports from Paraguay (Flag) and Belgium (Flag) (2022)

Comparative Advantage Belgium - Paraguay

Flow
Scale

This chart compares trade between Belgium and Paraguay by product, considering products traded by both, Belgium and Paraguay.

During 2022, Belgium had a large net trade with Paraguay in the exports of Chemical Products ($29.3M), Mineral Products ($21M), and Machines ($5.19M).

During 2017, Paraguay had a large net trade with Belgium in the exports of Mineral Products ($3.52M), Foodstuffs ($2.36M), and Metals ($1.69M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Belgium Paraguay+$21.3MRefined Petroleum
Top Product Potential Paraguay Belgium+$1.08MScrap Copper

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of Belgium and Paraguay. This means that a dot/product with the flag of Belgium indicates it has a comparative advantage over Paraguay. Similarly, a dot/product with the flag of Paraguay indicates it has a comparative advantage over Belgium.

Product Space of Belgium (Flag) and Paraguay (Flag) (2022)

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