Paraguay (PRY) and Italy (ITA) Trade | The Observatory of Economic Complexity

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Paraguay-Italy Trade: In 2023, Paraguay exported $67.5M to Italy. The main products that Paraguay exported to Italy were Tanned Equine and Bovine Hides ($24.4M), Soybean Meal ($20M), and Frozen Bovine Meat ($9.42M). Over the past 5 years the exports of Paraguay to Italy have decreased at an annualized rate of 18.1%, from $184M in 2018 to $67.5M in 2023.

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

Italy-Paraguay Trade: In 2023, Italy exported $135M to Paraguay. The main products that Italy exported to Paraguay were Industrial Food Preperation Machinery ($9.82M), Washing and Bottling Machines ($6.87M), and Other Electrical Machinery ($6.09M). Over the past 5 years the exports of Italy to Paraguay have increased at an annualized rate of 6.72%, from $97.3M in 2018 to $135M in 2023.

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

Comparison: In 2023, Paraguay ranked 81 in the Economic Complexity Index (ECI -0.42), and 94 in total exports ($12.2B). That same year, Italy ranked 18 in the Economic Complexity Index (ECI 1.29), and 6 in total exports ($638B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Paraguay exported $67.5M to Italy. The main products exported from Paraguay to Italy were Tanned Equine and Bovine Hides ($24.4M), Soybean Meal ($20M), and Frozen Bovine Meat ($9.42M). During the last 5 years the exports of Paraguay to Italy have decreased at an annualized rate of 18.1%, from $184M in 2018 to $67.5M in 2023.

In 2018, Italy exported $135M to Paraguay. The main products exported from Italy to Paraguay were Industrial Food Preperation Machinery ($9.82M), Washing and Bottling Machines ($6.87M), and Other Electrical Machinery ($6.09M). During the last 5 years the exports of Italy to Paraguay have increased at an annualized rate of 6.72%, from $97.3M in 2023 to $135M in 2018.

Exports from Paraguay () to Italy () (2023)

Exports from Italy () to Paraguay () (2023)

Latest Data

Trade between Paraguay () and Italy ()

Paraguay Exports

Date

Italy Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Paraguay
Top DestinationArgentina$4B

Italy
Top DestinationGermany$71.4B

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

In 2023, countries that imported more from Paraguay than Italy included Argentina ($4B), Uruguay ($274M), and Bolivia ($167M).

In 2023, countries that imported more from Italy than Paraguay included Germany ($71.4B), United States ($70.9B), and France ($61.1B).

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

Comparative Advantage Paraguay - Italy

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Paraguay had a large net trade with Italy in the exports of Animal Hides ($24.5M), Foodstuffs ($21.4M), and Animal Products ($11.3M).

During 2018, Italy had a large net trade with Paraguay in the exports of Machines ($62M), Chemical Products ($23.5M), and Instruments ($7.21M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Paraguay Italy+$11.1MCorn

Top Product Potential Italy Paraguay+$3.89MPackaged 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 Paraguay and Italy. This means that a dot/product with the flag of Paraguay indicates it has a comparative advantage over Italy. Similarly, a dot/product with the flag of Italy indicates it has a comparative advantage over Paraguay.

About

Historical Data

Bilateral Trade by Products

Exports from Paraguay () to Italy () (2023)

Exports from Italy () to Paraguay () (2023)

Latest Data

Trade between Paraguay () and Italy ()

Paraguay Exports

Italy Exports

Market Competitiveness

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

Comparative Advantage Paraguay - Italy

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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