Overview: In 2018 Paraguay was the number 94 economy in the world in terms of GDP (current US$), the number 101 in total exports, the number 89 in total imports, and the number 87 most complex economy according to the Economic Complexity Index (ECI). In 2018, Paraguay exported $7.14B and imported $12.9B, resulting in a negative trade balance of -$5.81B. In 2018, Paraguay's exports per capita were $1.03k and its imports per capita were $1.86k.
In 2018 Paraguay exported a total of $7.14B, making it the number 101 exporter in the world. During the last five reported years the exports of Paraguay have changed by -$2.37B from $9.5B in 2013 to $7.14B in 2018.
In 2018 Paraguay imported $12.9B, making it the number 89 trade destination in the world. During the last five reported years the imports of Paraguay changed by $1.02B from $11.9B in 2013 to $12.9B in 2018.
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).
This section shows forecasts for total product exports and imports for Paraguay. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.
*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)
During the last 20 years Paraguay's economy has become relatively less complex, moving from the 68th to the 87th 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.
Paraguay has a high level of specialization in Soybean Oil (139), Soybeans (97.1), Soybean Meal (90.2), Wood Charcoal (69.2), and Frozen Bovine Meat (68.5). 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 Crustaceans (0.13), Gold (0.12), Raw Cotton (0.12), Insect Resins (0.12), and Dried Legumes (0.12). 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 it is currently specialized in.
The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities.
Relatedness is a 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 emissions.
Paraguay
