Paraguay (PRY) and Belgium (BEL) Trade | The Observatory of Economic Complexity

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Paraguay-Belgium Trade: In 2022, Paraguay exported $8.35M to Belgium. The main products that Paraguay exported to Belgium were Other Mineral ($1.8M), Non-Iron and Steel Slag, Ash and Residues ($1.72M), and Raw Sugar ($1.51M). Over the past 5 years the exports of Paraguay to Belgium have increased at an annualized rate of 12.4%, from $4.66M in 2017 to $8.35M in 2022.

In 2022, Paraguay did not export any services to Belgium.

Belgium-Paraguay Trade: In 2022, Belgium exported $67.2M to Paraguay. The main products that Belgium exported to Paraguay were Refined Petroleum ($20.7M), Vaccines, blood, antisera, toxins and cultures ($16.3M), and Pesticides ($5.16M). Over the past 5 years the exports of Belgium to Paraguay have increased at an annualized rate of 9.56%, from $27M in 2017 to $67.2M in 2022.

In 2022, Belgium did not export any services to Paraguay.

Comparison: In 2022, Paraguay ranked 81 in the Economic Complexity Index (ECI -0.34), and 103 in total exports ($10.1B). That same year, Belgium ranked 19 in the Economic Complexity Index (ECI 1.25), and 13 in total exports ($475B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Paraguay exported $8.35M to Belgium. The main products exported from Paraguay to Belgium were Other Mineral ($1.8M), Non-Iron and Steel Slag, Ash and Residues ($1.72M), and Raw Sugar ($1.51M). During the last 5 years the exports of Paraguay to Belgium have increased at an annualized rate of 12.4%, from $4.66M in 2017 to $8.35M in 2022.

In 2017, Belgium exported $67.2M to Paraguay. The main products exported from Belgium to Paraguay were Refined Petroleum ($20.7M), Vaccines, blood, antisera, toxins and cultures ($16.3M), and Pesticides ($5.16M). During the last 5 years the exports of Belgium to Paraguay have increased at an annualized rate of 9.56%, from $27M in 2022 to $67.2M in 2017.

Exports from Paraguay () to Belgium () (2022)

Exports from Belgium () to Paraguay () (2022)

Latest Data

Trade between Paraguay () and Belgium ()

Paraguay Exports

Date

Belgium Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Paraguay
Top DestinationBrazil$3.67B

Belgium
Top DestinationGermany$91.9B

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

In 2022, countries that imported more from Paraguay than Belgium included Argentina ($1.91B), Chile ($1.16B), and Brazil ($3.67B).

In 2022, countries that imported more from Belgium than Paraguay included Germany ($91.9B), France ($71.1B), and Netherlands ($65.7B).

Difference in imports from Belgium () and Paraguay () (2022)

Comparative Advantage Paraguay - Belgium

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Paraguay had a large net trade with Belgium in the exports of Mineral Products ($3.52M), Foodstuffs ($2.36M), and Metals ($1.69M).

During 2017, Belgium had a large net trade with Paraguay in the exports of Chemical Products ($29.3M), Mineral Products ($21M), and Machines ($5.19M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Paraguay Belgium+$1.08MScrap Copper

Top Product Potential Belgium Paraguay+$21.3MRefined Petroleum

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 Paraguay and Belgium. This means that a dot/product with the flag of Paraguay indicates it has a comparative advantage over Belgium. Similarly, a dot/product with the flag of Belgium indicates it has a comparative advantage over Paraguay.

About

Historical Data

Bilateral Trade by Products

Exports from Paraguay () to Belgium () (2022)

Exports from Belgium () to Paraguay () (2022)

Latest Data

Trade between Paraguay () and Belgium ()

Paraguay Exports

Belgium Exports

Market Competitiveness

Difference in imports from Belgium () and Paraguay () (2022)

Comparative Advantage Paraguay - Belgium

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Paraguay () and Belgium () (2022)

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