2023
Flag  
GDP
$45.1BCURRENT US$
Rnk 96 / 195
2013-2023
Flag
GDP GROWTH
47.2%CURRENT US$
Rnk 80 / 195
2023
Flag
 GDP
$43BCURRENT US$
Rnk 98 / 195
2013-2023
Flag
GDP GROWTH
11.6%CURRENT US$
Rnk 152 / 195
2023
Flag
GDP PC 
$3,686CURRENT US$
Rnk 135 / 195
2013-2023
Flag
GDP PC GROWTH
28.4%CURRENT US$
Rnk 82 / 195
2023
Flag
GDP PC
$6,276CURRENT US$
Rnk 111 / 196
2013-2023
Flag
GDP PC GROWTH
-2.48%CURRENT US$
Rnk 157 / 195

About

Bolivia-Paraguay Trade: In 2023, Bolivia exported $56.3M to Paraguay. The main products that Bolivia exported to Paraguay were Nitrogenous Fertilizers ($10.8M), Petroleum Gas ($9.28M), and Electric Batteries ($5.69M). Over the past 5 years the exports of Bolivia to Paraguay have decreased at an annualized rate of 0.83%, from $58.7M in 2018 to $56.3M in 2023.

In 2023, Bolivia did not export any services to Paraguay.

Paraguay-Bolivia Trade: In 2023, Paraguay exported $167M to Bolivia. The main products that Paraguay exported to Bolivia were Refined Petroleum ($60.5M), Pesticides ($18.6M), and Wheat ($11.7M). Over the past 5 years the exports of Paraguay to Bolivia have increased at an annualized rate of 15.4%,  from $81.6M in 2018 to $167M in 2023.

In 2023, Paraguay did not export any services to Bolivia.

Comparison: In 2023,  Bolivia ranked 105 in the Economic Complexity Index (ECI -0.85), and 103 in total exports ($10.6B). That same year, Paraguay ranked 81 in the Economic Complexity Index (ECI -0.42), and 94 in total exports ($12.2B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Bolivia exported $56.3M to Paraguay. The main products exported from Bolivia to Paraguay were Nitrogenous Fertilizers ($10.8M), Petroleum Gas ($9.28M), and Electric Batteries ($5.69M). During the last 5 years the exports of Bolivia to Paraguay have decreased at an annualized rate of 0.83%, from $58.7M in 2018 to $56.3M in 2023.

In 2018, Paraguay exported $167M to Bolivia. The main products exported from Paraguay to Bolivia were Refined Petroleum ($60.5M), Pesticides ($18.6M), and Wheat ($11.7M). During the last 5 years the exports of Paraguay to Bolivia have increased at an annualized rate of 15.4%, from $81.6M in 2023 to $167M in 2018.

Exports from Bolivia (Flag) to Paraguay (Flag) (2023)

Exports from Paraguay (Flag) to Bolivia (Flag) (2023)

Market Competitiveness

Color
Bolivia
Top Destination
Brazil$1.54B
Paraguay
Top Destination
Argentina$4B

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

In 2023, countries that imported more from Bolivia than Paraguay included China ($1.21B), India ($1.33B), and United Arab Emirates ($901M).

In 2023, countries that imported more from Paraguay than Bolivia included Argentina ($4B), Brazil ($3B), and Chile ($1.26B).

Difference in imports from Paraguay (Flag) and Bolivia (Flag) (2023)

Comparative Advantage Bolivia - Paraguay

Flow
Scale

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

During 2023, Bolivia had a large net trade with Paraguay in the exports of Chemical Products ($16.2M), Mineral Products ($11.9M), and Machines ($6.76M).

During 2018, Paraguay had a large net trade with Bolivia in the exports of Mineral Products ($64.1M), Chemical Products ($38.8M), and Metals ($22.7M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Bolivia Paraguay+$1.21MNitrogenous Fertilizers
Top Product Potential Paraguay Bolivia+$1.34MInsulated Wire

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 Bolivia and Paraguay. This means that a dot/product with the flag of Bolivia indicates it has a comparative advantage over Paraguay. Similarly, a dot/product with the flag of Paraguay indicates it has a comparative advantage over Bolivia.

Product Space of Bolivia (Flag) and Paraguay (Flag) (2023)

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