Paraguay (PRY) and Russia (RUS) Trade | The Observatory of Economic Complexity

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Paraguay-Russia Trade: In 2023, Paraguay exported $267M to Russia. The main products that Paraguay exported to Russia were Soybeans ($129M), Frozen Bovine Meat ($112M), and Edible Offal ($16.6M). Over the past 5 years the exports of Paraguay to Russia have decreased at an annualized rate of 19.5%, from $790M in 2018 to $267M in 2023.

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

Russia-Paraguay Trade: In 2023, Russia exported $76.1M to Paraguay. The main products that Russia exported to Paraguay were Mixed Mineral or Chemical Fertilizers ($36.1M), Refined Petroleum ($31.7M), and Potassic Fertilizers ($3.55M). Over the past 5 years the exports of Russia to Paraguay have decreased at an annualized rate of 5.32%, from $100M in 2018 to $76.1M in 2023.

In 2020, Russia exported services to Paraguay worth $112k, with Other business services ($60k), Transportation ($32k), and Financial services ($11k) being the largest in terms of value.

Comparison: In 2023, Paraguay ranked 81 in the Economic Complexity Index (ECI -0.42), and 94 in total exports ($12.2B). That same year, Russia ranked 50 in the Economic Complexity Index (ECI 0.3), and 18 in total exports ($394B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Paraguay exported $267M to Russia. The main products exported from Paraguay to Russia were Soybeans ($129M), Frozen Bovine Meat ($112M), and Edible Offal ($16.6M). During the last 5 years the exports of Paraguay to Russia have decreased at an annualized rate of 19.5%, from $790M in 2018 to $267M in 2023.

In 2018, Russia exported $76.1M to Paraguay. The main products exported from Russia to Paraguay were Mixed Mineral or Chemical Fertilizers ($36.1M), Refined Petroleum ($31.7M), and Potassic Fertilizers ($3.55M). During the last 5 years the exports of Russia to Paraguay have decreased at an annualized rate of 5.32%, from $100M in 2023 to $76.1M in 2018.

Exports from Paraguay () to Russia () (2023)

Exports from Russia () to Paraguay () (2023)

Latest Data

Trade between Paraguay () and Russia ()

Paraguay Exports

Date

Russia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Paraguay
Top DestinationArgentina$4B

Russia
Top DestinationChina$129B

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

In 2023, countries that imported more from Paraguay than Russia included Argentina ($4B), Chile ($1.26B), and Uruguay ($274M).

In 2023, countries that imported more from Russia than Paraguay included China ($129B), India ($66.1B), and Turkey ($31B).

Difference in imports from Russia () and Paraguay () (2023)

Comparative Advantage Paraguay - Russia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Paraguay had a large net trade with Russia in the exports of Vegetable Products ($133M), Animal Products ($132M), and Animal and Vegetable Bi-Products ($1.8M).

During 2018, Russia had a large net trade with Paraguay in the exports of Chemical Products ($39.8M), Mineral Products ($32.5M), and Machines ($2.9M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Paraguay Russia+$15.5MSoybeans

Top Product Potential Russia Paraguay+$45.6MRefined Petroleum

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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Bilateral Service Trade

Rus Year

In 2020, Russia exported services to Paraguay worth $112k, with Other business services ($60k), Transportation ($32k), and Financial services ($11k) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Russia () to Paraguay () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Year

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

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Historical Data

Bilateral Trade by Products

Exports from Paraguay () to Russia () (2023)

Exports from Russia () to Paraguay () (2023)

Latest Data

Trade between Paraguay () and Russia ()

Paraguay Exports

Russia Exports

Market Competitiveness

Difference in imports from Russia () and Paraguay () (2023)

Comparative Advantage Paraguay - Russia

Potential Exports

Potential Exports

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Bilateral Service Trade

Services Exports from Russia () to Paraguay () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Product Space of Paraguay () and Russia () (2023)

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