Mexico (MEX) and Paraguay (PRY) Trade | The Observatory of Economic Complexity

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Mexico-Paraguay Trade: In 2023, Mexico exported $156M to Paraguay. The main products that Mexico exported to Paraguay were Delivery Trucks ($28.4M), Beer ($15.4M), and Tractors ($11.5M). Over the past 5 years the exports of Mexico to Paraguay have decreased at an annualized rate of 8.53%, from $244M in 2018 to $156M in 2023.

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

Paraguay-Mexico Trade: In 2023, Paraguay exported $27.4M to Mexico. The main products that Paraguay exported to Mexico were Other Oily Seeds ($13.8M), Packaged Medicaments ($4.04M), and Wadding ($2.29M). Over the past 5 years the exports of Paraguay to Mexico have decreased at an annualized rate of 3.1%, from $32.1M in 2018 to $27.4M in 2023.

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

Comparison: In 2023, Mexico ranked 25 in the Economic Complexity Index (ECI 1.09), and 8 in total exports ($603B). That same year, Paraguay ranked 81 in the Economic Complexity Index (ECI -0.42), and 94 in total exports ($12.2B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Mexico exported $156M to Paraguay. The main products exported from Mexico to Paraguay were Delivery Trucks ($28.4M), Beer ($15.4M), and Tractors ($11.5M). During the last 5 years the exports of Mexico to Paraguay have decreased at an annualized rate of 8.53%, from $244M in 2018 to $156M in 2023.

In 2018, Paraguay exported $27.4M to Mexico. The main products exported from Paraguay to Mexico were Other Oily Seeds ($13.8M), Packaged Medicaments ($4.04M), and Wadding ($2.29M). During the last 5 years the exports of Paraguay to Mexico have decreased at an annualized rate of 3.1%, from $32.1M in 2023 to $27.4M in 2018.

Exports from Mexico () to Paraguay () (2023)

Exports from Paraguay () to Mexico () (2023)

Latest Data

Trade between Mexico () and Paraguay ()

Mexico Exports

Date

Paraguay Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Mexico
Top DestinationUnited States$456B

Paraguay
Top DestinationArgentina$4B

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

In 2023, countries that imported more from Mexico than Paraguay included United States ($456B), Canada ($33B), and China ($15B).

In 2023, countries that imported more from Paraguay than Mexico included Argentina ($4B), Russia ($267M), and Bangladesh ($94.6M).

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

Comparative Advantage Mexico - Paraguay

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Mexico had a large net trade with Paraguay in the exports of Transportation ($49.8M), Machines ($47.4M), and Chemical Products ($21.9M).

During 2018, Paraguay had a large net trade with Mexico in the exports of Vegetable Products ($15M), Chemical Products ($4.69M), and Textiles ($2.57M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Mexico Paraguay+$14.3MCars

Top Product Potential Paraguay Mexico+$3.84MPackaged Medicaments

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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Economic Complexity

Competitive Landscape

Year

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

About

Historical Data

Bilateral Trade by Products

Exports from Mexico () to Paraguay () (2023)

Exports from Paraguay () to Mexico () (2023)

Latest Data

Trade between Mexico () and Paraguay ()

Mexico Exports

Paraguay Exports

Market Competitiveness

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

Comparative Advantage Mexico - Paraguay

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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