Paraguay (PRY) and South Korea (KOR) Trade | The Observatory of Economic Complexity

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Paraguay-South Korea Trade: In 2023, Paraguay exported $112M to South Korea. The main products that Paraguay exported to South Korea were Corn ($106M), Preserved Meat ($1.81M), and Scrap Aluminium ($835k). Over the past 5 years the exports of Paraguay to South Korea have increased at an annualized rate of 26.1%, from $34.9M in 2018 to $112M in 2023.

In 2023, Paraguay did not export any services to South Korea.

South Korea-Paraguay Trade: In 2023, South Korea exported $185M to Paraguay. The main products that South Korea exported to Paraguay were Cars ($76.1M), Low-voltage Protection Equipment ($10.5M), and Insulated Wire ($9.07M). Over the past 5 years the exports of South Korea to Paraguay have decreased at an annualized rate of 5.01%, from $239M in 2018 to $185M in 2023.

In 2023, South Korea did not export any services to Paraguay.

Comparison: In 2023, Paraguay ranked 81 in the Economic Complexity Index (ECI -0.42), and 94 in total exports ($12.2B). That same year, South Korea ranked 4 in the Economic Complexity Index (ECI 1.85), and 5 in total exports ($645B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Paraguay exported $112M to South Korea. The main products exported from Paraguay to South Korea were Corn ($106M), Preserved Meat ($1.81M), and Scrap Aluminium ($835k). During the last 5 years the exports of Paraguay to South Korea have increased at an annualized rate of 26.1%, from $34.9M in 2018 to $112M in 2023.

In 2018, South Korea exported $185M to Paraguay. The main products exported from South Korea to Paraguay were Cars ($76.1M), Low-voltage Protection Equipment ($10.5M), and Insulated Wire ($9.07M). During the last 5 years the exports of South Korea to Paraguay have decreased at an annualized rate of 5.01%, from $239M in 2023 to $185M in 2018.

Exports from Paraguay () to South Korea () (2023)

Exports from South Korea () to Paraguay () (2023)

Latest Data

Trade between Paraguay () and South Korea ()

Paraguay Exports

Date

South Korea Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Paraguay
Top DestinationArgentina$4B

South Korea
Top DestinationChina$162B

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

In 2023, countries that imported more from Paraguay than South Korea included Argentina ($4B), Russia ($267M), and Uruguay ($274M).

In 2023, countries that imported more from South Korea than Paraguay included China ($162B), United States ($118B), and Hong Kong ($28.8B).

Difference in imports from South Korea () and Paraguay () (2023)

Comparative Advantage Paraguay - South Korea

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Paraguay had a large net trade with South Korea in the exports of Vegetable Products ($107M), Animal Products ($1.85M), and Metals ($1.54M).

During 2018, South Korea had a large net trade with Paraguay in the exports of Transportation ($94.1M), Machines ($40.3M), and Plastics and Rubbers ($14.8M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Paraguay South Korea+$1.9MScrap Copper

Top Product Potential South Korea Paraguay+$16.4MCars

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

Year

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

About

Historical Data

Bilateral Trade by Products

Exports from Paraguay () to South Korea () (2023)

Exports from South Korea () to Paraguay () (2023)

Latest Data

Trade between Paraguay () and South Korea ()

Paraguay Exports

South Korea Exports

Market Competitiveness

Difference in imports from South Korea () and Paraguay () (2023)

Comparative Advantage Paraguay - South Korea

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Paraguay () and South Korea () (2023)

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