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2023
Flag → Flag
Exports $13.8MRnk 47 / 153
2023
Flag → Flag
Top Product $11.2MSoybean Oil
2023
Flag → Flag
Exports $60kRnk 93 / 122
2023
Flag → Flag
Top Product $20kIndustrial Food Preperation Machinery
2023
Flag
Economic Complexity (ECI) ECI -0.42Rnk 81 / 132
2023
Flag
Economic Complexity (ECI) ECI -0.82Rnk 100 / 132
2023
Flag  
GDP$43BCURRENT US$
Rnk 98 / 195
2013-2023
Flag
GDP GROWTH11.6%CURRENT US$
Rnk 152 / 195
2023
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GDP PC $6,276CURRENT US$
Rnk 111 / 195
2013-2023
Flag
GDP PC GROWTH-2.48%CURRENT US$
Rnk 157 / 195

About

Paraguay-Venezuela Trade: In 2023, Paraguay exported $13.8M to Venezuela. The main products that Paraguay exported to Venezuela were Soybean Oil ($11.2M), Packaged Medicaments ($1.36M), and Starches ($650k). Over the past 5 years the exports of Paraguay to Venezuela have decreased at an annualized rate of 5.85%, from $18.6M in 2018 to $13.8M in 2023.

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

Venezuela-Paraguay Trade: In 2023, Venezuela exported $60k to Paraguay. The main products that Venezuela exported to Paraguay were Industrial Food Preperation Machinery ($20k), Cereal Flours ($15.7k), and Other Plastic Sheetings ($9.7k). Over the past 5 years the exports of Venezuela to Paraguay have decreased at an annualized rate of 24%,  from $237k in 2018 to $60k in 2023.

In 2023, Venezuela 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, Venezuela ranked 100 in the Economic Complexity Index (ECI -0.82), and 113 in total exports ($7.63B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Paraguay exported $13.8M to Venezuela. The main products exported from Paraguay to Venezuela were Soybean Oil ($11.2M), Packaged Medicaments ($1.36M), and Starches ($650k). During the last 5 years the exports of Paraguay to Venezuela have decreased at an annualized rate of 5.85%, from $18.6M in 2018 to $13.8M in 2023.

In 2018, Venezuela exported $60k to Paraguay. The main products exported from Venezuela to Paraguay were Industrial Food Preperation Machinery ($20k), Cereal Flours ($15.7k), and Other Plastic Sheetings ($9.7k). During the last 5 years the exports of Venezuela to Paraguay have decreased at an annualized rate of 24%, from $237k in 2023 to $60k in 2018.

Exports from Paraguay (Flag) to Venezuela (Flag) (2023)

Exports from Venezuela (Flag) to Paraguay (Flag) (2023)

Latest Data

Trade between Paraguay (Flag) and Venezuela (Flag)

Paraguay Exports

Market Competitiveness

Color
Paraguay
Top DestinationArgentina$4B
Venezuela
Top DestinationUnited States$3.81B

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

In 2023, countries that imported more from Paraguay than Venezuela included Argentina ($4B), Brazil ($3B), and Chile ($1.26B).

In 2023, countries that imported more from Venezuela than Paraguay included United States ($3.81B), China ($739M), and Spain ($670M).

Difference in imports from Venezuela (Flag) and Paraguay (Flag) (2023)

Comparative Advantage Paraguay - Venezuela

Flow
Scale

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

During 2023, Paraguay had a large net trade with Venezuela in the exports of Animal and Vegetable Bi-Products ($11.2M), Chemical Products ($1.36M), and Vegetable Products ($715k).

During 2018, Venezuela had a large net trade with Paraguay in the exports of Machines ($20.8k), Vegetable Products ($15.7k), and Plastics and Rubbers ($9.75k).

Economic Complexity

Competitive Landscape

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

Product Space of Paraguay (Flag) and Venezuela (Flag) (2023)

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