Sri Lanka (LKA) and Paraguay (PRY) Trade | The Observatory of Economic Complexity

About

Sri Lanka-Paraguay Trade: In 2023, Sri Lanka exported $2.07M to Paraguay. The main products that Sri Lanka exported to Paraguay were Knit T-shirts ($348k), Washing and Bottling Machines ($333k), and Knit Socks and Hosiery ($174k). Over the past 5 years the exports of Sri Lanka to Paraguay have increased at an annualized rate of 16.7%, from $954k in 2018 to $2.07M in 2023.

In 2023, Sri Lanka did not export any services to Paraguay.

Paraguay-Sri Lanka Trade: In 2023, Paraguay exported $94.6k to Sri Lanka. The main products that Paraguay exported to Sri Lanka were Animal Meal and Pellets ($94.6k). Over the past 5 years the exports of Paraguay to Sri Lanka have increased at an annualized rate of 23.8%, from $32.5k in 2018 to $94.6k in 2023.

In 2023, Paraguay did not export any services to Sri Lanka.

Comparison: In 2023, Sri Lanka ranked 85 in the Economic Complexity Index (ECI -0.44), and 90 in total exports ($13.8B). 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

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Sri Lanka exported $2.07M to Paraguay. The main products exported from Sri Lanka to Paraguay were Knit T-shirts ($348k), Washing and Bottling Machines ($333k), and Knit Socks and Hosiery ($174k). During the last 5 years the exports of Sri Lanka to Paraguay have increased at an annualized rate of 16.7%, from $954k in 2018 to $2.07M in 2023.

In 2018, Paraguay exported $94.6k to Sri Lanka. The main products exported from Paraguay to Sri Lanka were Animal Meal and Pellets ($94.6k). During the last 5 years the exports of Paraguay to Sri Lanka have increased at an annualized rate of 23.8%, from $32.5k in 2023 to $94.6k in 2018.

Exports from Sri Lanka () to Paraguay () (2023)

Exports from Paraguay () to Sri Lanka () (2023)

Latest Data

Trade between Sri Lanka () and Paraguay ()

Paraguay Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Sri Lanka
Top DestinationUnited States$2.98B

Paraguay
Top DestinationArgentina$4B

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

In 2023, countries that imported more from Sri Lanka than Paraguay included United States ($2.98B), Germany ($906M), and India ($991M).

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

Difference in imports from Paraguay () and Sri Lanka () (2023)

Comparative Advantage Sri Lanka - Paraguay

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Sri Lanka had a large net trade with Paraguay in the exports of Textiles ($1.26M), Machines ($399k), and Plastics and Rubbers ($270k).

During 2018, Paraguay had a large net trade with Sri Lanka in the exports of Foodstuffs ($94.6k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Sri Lanka Paraguay+$249kKnit T-shirts

Top Product Potential Paraguay Sri Lanka+$28.4kAnimal Meal and Pellets

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.

Subscribe today to OEC pro and access the latest data

Sign Up

Subscribe today to OEC pro and access the latest data

Sign Up

Economic Complexity

Competitive Landscape

Year

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

About

Historical Data

Bilateral Trade by Products

Exports from Sri Lanka () to Paraguay () (2023)

Exports from Paraguay () to Sri Lanka () (2023)

Latest Data

Trade between Sri Lanka () and Paraguay ()

Paraguay Exports

Market Competitiveness

Difference in imports from Paraguay () and Sri Lanka () (2023)

Comparative Advantage Sri Lanka - Paraguay

Potential Exports

Potential Exports

Subscribe today to OEC pro and access the latest data

Subscribe today to OEC pro and access the latest data

Economic Complexity

Competitive Landscape

Product Space of Sri Lanka () and Paraguay () (2023)

Keep Exploring