2022
Flag  
GDP
$579BCURRENT US$
Rnk 24 / 186
2012-2022
Flag
GDP GROWTH
13%CURRENT US$
Rnk 141 / 186
2022
Flag
 GDP
$41.7BCURRENT US$
Rnk 96 / 186
2012-2022
Flag
GDP GROWTH
25.3%CURRENT US$
Rnk 110 / 186
2022
Flag
GDP PC 
$106,149CURRENT US$
Rnk 3 / 186
2012-2022
Flag
GDP PC GROWTH
3.89%CURRENT US$
Rnk 131 / 186
2022
Flag
GDP PC
$6,153CURRENT US$
Rnk 102 / 186
2012-2022
Flag
GDP PC GROWTH
9.46%CURRENT US$
Rnk 120 / 186

About

Norway-Paraguay Trade: In 2022, Norway exported $1.29M to Paraguay. The main products that Norway exported to Paraguay were Integrated Circuits ($382k), Packaged Medicaments ($170k), and Medical Instruments ($136k). Over the past 5 years the exports of Norway to Paraguay have decreased at an annualized rate of 21.4%, from $4.32M in 2017 to $1.29M in 2022.

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

Paraguay-Norway Trade: In 2022, Paraguay exported $1.17M to Norway. The main products that Paraguay exported to Norway were Other Oily Seeds ($621k), Wood Charcoal ($212k), and Twine, cordage or rope; knotted netting, made up fishing nets and other made up nets, of textile materials ($124k). Over the past 5 years the exports of Paraguay to Norway have increased at an annualized rate of 33.6%,  from $275k in 2017 to $1.17M in 2022.

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

Comparison: In 2022,  Norway ranked 43 in the Economic Complexity Index (ECI 0.54), and 28 in total exports ($285B). That same year, Paraguay ranked 81 in the Economic Complexity Index (ECI -0.34), and 103 in total exports ($10.1B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Norway exported $1.29M to Paraguay. The main products exported from Norway to Paraguay were Integrated Circuits ($382k), Packaged Medicaments ($170k), and Medical Instruments ($136k). During the last 5 years the exports of Norway to Paraguay have decreased at an annualized rate of 21.4%, from $4.32M in 2017 to $1.29M in 2022.

In 2017, Paraguay exported $1.17M to Norway. The main products exported from Paraguay to Norway were Other Oily Seeds ($621k), Wood Charcoal ($212k), and Twine, cordage or rope; knotted netting, made up fishing nets and other made up nets, of textile materials ($124k). During the last 5 years the exports of Paraguay to Norway have increased at an annualized rate of 33.6%, from $275k in 2022 to $1.17M in 2017.

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

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

Market Competitiveness

Color
Norway
Top Destination
Germany$78.1B
Paraguay
Top Destination
Brazil$3.67B

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

In 2022, countries that imported more from Norway than Paraguay included Germany ($78.1B), United Kingdom ($59.1B), and France ($25.9B).

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

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

Comparative Advantage Norway - Paraguay

Flow
Scale

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

During 2022, Norway had a large net trade with Paraguay in the exports of Machines ($504k), Chemical Products ($457k), and Instruments ($157k).

During 2017, Paraguay had a large net trade with Norway in the exports of Vegetable Products ($622k), Wood Products ($218k), and Textiles ($178k).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Norway Paraguay+$287kPackaged Medicaments
Top Product Potential Paraguay Norway+$152kWood Charcoal

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

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

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