Paraguay2020 Economic Complexity : -0.45, Rank 79 of 127
2020 Product Exports | Imports: $8.66B | $9.97B, 91 of 226 | 100 of 226
2020 Per Capita Product Exports | Imports: $1.21k | $1.4k, 101 of 219 | 128 of 219
2015 Service Exports | Imports : $542M | $802M, 134 of 173 | 135 of 173
Overview In 2020 Paraguay was the number 94 economy in the world in terms of GDP (current US$), 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).
Exports The top exports of Paraguay are Soybeans ($2.15B), Electricity ($1.73B), Soybean Meal ($684M), Frozen Bovine Meat ($592M), and Bovine Meat ($527M), exporting mostly to Brazil ($3.02B), Argentina ($2.13B), Chile ($773M), Russia ($487M), and United States ($180M).
Imports The top imports of Paraguay are Broadcasting Equipment ($1.41B), Refined Petroleum ($967M), Cars ($352M), Pesticides ($343M), and Mixed Mineral or Chemical Fertilizers ($195M), importing mostly from China ($2.81B), Brazil ($2.19B), United States ($1.04B), Argentina ($875M), and Chile ($367M).
Location Paraguay borders Argentina, Bolivia, and Brazil by land.
The following section uses the most recent trade data from partners of Paraguay.
Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
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.
The most recent exports are led by Soybeans ($2.15B), Electricity ($1.73B), Soybean Meal ($684M), Frozen Bovine Meat ($592M), and Bovine Meat ($527M). The most common destination for the exports of Paraguay are Brazil ($3.02B), Argentina ($2.13B), Chile ($773M), Russia ($487M), and United States ($180M).
Paraguay Exports Services (2015): $542M
Paraguay Imports Services (2015): $802M
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).
The top product import tariffs by their MFN Ad Valorem value for Paraguay are Aluminium sulphate (35%) and Containers nes, outer surface plastic or textile (35%).
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:
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 highest complexity exports of Paraguay according to the product complexity index (PCI) are Derivatives of cyclic alcohols (0.89), Nonwovens textiles except felt (0.78), Articles of aluminium nes (0.69), Aluminium tube or pipe fittings (0.54), and Uncoated paper and paperboard nes (0.54). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
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.
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.
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