Overview In 2020 Paraguay was the number 94 economy in the world in terms of GDP (current US$), the number 91 in total exports, the number 100 in total imports,
the number 102 economy in terms of GDP per capita (current US$) and the number 79 most complex economy according to the Economic Complexity Index (ECI).
Data is presented based on data availability. Only countries using the Harmonic System (HS) are selected. Every source is shown using their own latest twelve months of data.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
In 2020, Paraguay exported a total of $8.66B, making it the number 91 exporter in the world. During the last five reported years the exports of Paraguay have changed by $147M from $8.51B in 2015 to $8.66B in 2020.
In 2015, Paraguay exported $542M worth of services. The top services exported by Paraguay in 2015 were Other transport ($305M), Government services, n.i.e. ($171M), Air transport ($18M), Communications services ($16M), and Auxiliary services ($12M).
The top services imported by Paraguay in 2015 were Air transport ($294M), Other transport ($267M), Sea transport ($104M), Financial services ($47.3M), and Government services, n.i.e. ($33.3M).
Click any of the products in the bar chart to see the specific Ad Valorem Duty Rates by partner country.
*The tariffs applied to imports for Paraguay are:23: AAP.AG N° 02 - Acuerdo de Alcance Parcial para la Liberación y Expansión del Comercio Intrarregional de Semillas Suscrito por el Art. 12 del TM8026: AAP.CE N° 13 - Complementación Económica entre Argentina y Paraguay35: AAP.CE N° 35 - Complementación Económica entre MERCOSUR y Chile36: AAP.CE N° 36 - Complementación Económica entre MERCOSUR y Bolivia48: AAP.CE N° 52 - Complementación Económica entre Cuba y Paraguay60: AAP.CE N° 58 - Complementación Económica entre Argentina, Brasil, Paraguay, Uruguay y Perú61: AAP.CE N° 59 - Complementación Económica entre Argentina, Brasil, Paraguay, Uruguay, Colombia, Ecuador y Venezuela73: AAP.R N° 38 Acuerdo de Alcance Parcial de Renegociación N° 38 Celebrado entre la República de México y la República del Paraguay79: AR.AM N° 01 - Acuerdo Regional de Apertura de Mercados en Favor de Bolivia80: AR.AM N° 02 - Acuerdo Regional de Apertura de Mercados en favor de Ecuador82: AR.CEYC N° 7 Acuerdo de Cooperación e Intercambio en las Áreas Cultural, Educacional y Científica (Argentina, Bolivia, Brasil, Chile, Colombia, Cuba, Ecuador, México, Panamá, Paraguay, Perú, Uruguay)83: AR.PAR N° 04 - Preferencia Arancelaria Regional (Argentina Bolivia Brasil Chile Colombia Cuba Ecuador México Panamá Paraguay Perú Uruguay Venezuela)136: Most Favoured Nation duty rate treatement239: Preferential tariff for India244: Preferential tariff for Israel269: Preferential tariff for MERCOSUR countries (Southern Common Market)
Paraguay has a high level of specialization in Electricity (107), Soybean Oil (77.1), Soybeans (65), Soybean Meal (53.8), and Wood Charcoal (50.3). Specialization is measured using RCA, an index that takes the ratio between Paraguay observed and expected exports in each product.
The top export opportunities for Paraguay according to the relatedness index, are Wool (0.12), Gold (0.12), Cocoa Beans (0.11), Raw Cotton (0.11), and Dried Legumes (0.11). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Paraguay is not specialized in.
The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products a country currently specializes in.
This network shows the products most related to the production structure of Paraguay. These are products that tend to be co-exported with the products that Paraguay exports. Higher relatedness values indicate greater knowledge, which predicts a greater probability of exporting that product in the future.
The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities.
Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower greenhouse emissions.
During the last 20 years Paraguay's economy has become relatively less complex, moving from the 64th to the 79th position in the ECI rank.
These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.