Flag Paraguay

2019
Economic
Complexity
: -0.39, Rank 93 of 157

2019
Product
Exports | Imports
: $7.79B | $10.6B, 100 of 225 |  99 of 225

2019
Per Capita Product
Exports | Imports
: $1.11k | $1.5k, 119 of 219 |  130 of 219

2015
Service
Exports | Imports
: $542M | $802M, 131 of 170 | 132 of 170

Overview: In 2019 Paraguay was the number 95 economy in the world in terms of GDP (current US$), the number 100 in total exports, the number 99 in total imports, the number 102 economy in terms of GDP per capita (current US$) and the number 93 most complex economy according to the Economic Complexity Index (ECI).

Exports: The top exports of Paraguay are Soybeans ($1.58B), Electricity ($1.57B), Soybean Meal ($692M), Frozen Bovine Meat ($557M), and Bovine Meat ($468M), exporting mostly to Brazil ($2.53B), Argentina ($1.74B), Chile ($624M), Russia ($607M), and United States ($189M).

Imports: The top imports of Paraguay are Broadcasting Equipment ($1.52B), Cars ($401M), Pesticides ($389M), Refined Petroleum ($374M), and Rubber Tires ($199M), importing mostly from Brazil ($2.5B), United States ($2.3B), China ($1.8B), Argentina ($1.07B), and Chile ($481M).

Location: Paraguay borders Argentina, Bolivia, and Brazil by land.

Yearly Exports

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Value
Depth

Top Export (2019): Soybeans, $1.58B

Top Destination (2019): Brazil, $2.53B

In 2019, Paraguay exported a total of $7.79B, making it the number 100 exporter in the world. During the last five reported years the exports of Paraguay have changed by -$2.12B from $9.91B in 2014 to $7.79B in 2019.

The most recent exports are led by Soybeans ($1.58B), Electricity ($1.57B), Soybean Meal ($692M), Frozen Bovine Meat ($557M), and Bovine Meat ($468M). The most common destination for the exports of Paraguay are Brazil ($2.53B), Argentina ($1.74B), Chile ($624M), Russia ($607M), and United States ($189M).

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Yearly Imports

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Value
Depth

Top Import (2019): Broadcasting Equipment, $1.52B

Top Origin (2019): Brazil, $2.5B

In 2019 Paraguay imported $10.6B, making it the number 99 trade destination in the world. During the last five reported years the imports of Paraguay changed by -$1.49B from $12.1B in 2014 to $10.6B in 2019.

The most recent imports of Paraguay are led by Broadcasting Equipment ($1.52B), Cars ($401M), Pesticides ($389M), Refined Petroleum ($374M), and Rubber Tires ($199M). The most common import partners for Paraguay are Brazil ($2.5B), United States ($2.3B), China ($1.8B), Argentina ($1.07B), and Chile ($481M).

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Flow

Fastest Growing Export Markets (2018 - 2019)

Fastest Growing Import Markets (2018 - 2019)

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).

Tariffs by Product

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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.

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*The tariffs applied to imports for Paraguay are:
23: AAP.AG N掳 02 - Acuerdo de Alcance Parcial para la Liberaci贸n y Expansi贸n del Comercio Intrarregional de Semillas Suscrito por el Art. 12 del TM80
26: AAP.CE N掳 13 - Complementaci贸n Econ贸mica entre Argentina y Paraguay
35: AAP.CE N掳 35 - Complementaci贸n Econ贸mica entre MERCOSUR y Chile
36: AAP.CE N掳 36 - Complementaci贸n Econ贸mica entre MERCOSUR y Bolivia
48: AAP.CE N掳 52 - Complementaci贸n Econ贸mica entre Cuba y Paraguay
60: AAP.CE N掳 58 - Complementaci贸n Econ贸mica entre Argentina, Brasil, Paraguay, Uruguay y Per煤
61: AAP.CE N掳 59 - Complementaci贸n Econ贸mica entre Argentina, Brasil, Paraguay, Uruguay, Colombia, Ecuador y Venezuela
73: AAP.R N掳 38 Acuerdo de Alcance Parcial de Renegociaci贸n N掳 38 Celebrado entre la Rep煤blica de M茅xico y la Rep煤blica del Paraguay
79: AR.AM N掳 01 - Acuerdo Regional de Apertura de Mercados en Favor de Bolivia
80: AR.AM N掳 02 - Acuerdo Regional de Apertura de Mercados en favor de Ecuador
82: AR.CEYC N掳 7 Acuerdo de Cooperaci贸n e Intercambio en las 脕reas Cultural, Educacional y Cient铆fica (Argentina, Bolivia, Brasil, Chile, Colombia, Cuba, Ecuador, M茅xico, Panam谩, Paraguay, Per煤, Uruguay)
83: AR.PAR N掳 04 - Preferencia Arancelaria Regional (Argentina Bolivia Brasil Chile Colombia Cuba Ecuador M茅xico Panam谩 Paraguay Per煤 Uruguay Venezuela)
136: Most Favoured Nation duty rate treatement
239: Preferential tariff for India
244: Preferential tariff for Israel
269: Preferential tariff for MERCOSUR countries (Southern Common Market)

Economic Complexity

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Economic Complexity Ranking

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Scale

During the last 20 years Paraguay's鈦 鈦╡conomy has become relatively m谩s complex, moving from the 鈦┾仺94th to the 93rd鈦 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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Most Specialized Products by RCA Index

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Paraguay has a high level of specialization in Soybean Oil (103), Electricity (102), Soybeans (66.5), Soybean Meal (65.2), and Wood Charcoal (59.1). Specialization is measured using RCA, an index that takes the ratio between Paraguay observed and expected exports in each product.

Most Complex Products by PCI

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The highest complexity exports of Paraguay according to the product complexity index (PCI) are Nonwovens textiles except felt (1.08), Derivatives of cyclic alcohols (0.97), Plastic floor, wall or ceiling covering, roll or tiles (0.87), Aluminium tube or pipe fittings (0.82), and Pig and poultry fat, unrendered (0.58). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

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The top export opportunities for Paraguay according to the relatedness index, are Gold (0.13), Raw Cotton (0.12), Crustaceans (0.12), Dried Legumes (0.12), and Wool (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.

Diversification Frontier

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Depth

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.