Trinidad and Tobago (TTO) and Paraguay (PRY) Trade | The Observatory of Economic Complexity

About

Trinidad and Tobago-Paraguay Trade: In 2023, Trinidad and Tobago exported $41.2k to Paraguay. The main products that Trinidad and Tobago exported to Paraguay were Stone Processing Machines ($17.5k), Hard Liquor ($13.7k), and Other Engines ($7.62k). Over the past 5 years the exports of Trinidad and Tobago to Paraguay have increased at an annualized rate of 3.54%, from $34.6k in 2018 to $41.2k in 2023.

In 2023, Trinidad and Tobago did not export any services to Paraguay.

Paraguay-Trinidad and Tobago Trade: In 2023, Paraguay exported $113k to Trinidad and Tobago. The main products that Paraguay exported to Trinidad and Tobago were N/A. Over the past 5 years the exports of Paraguay to Trinidad and Tobago have decreased at an annualized rate of 32.2%, from $791k in 2018 to $113k in 2023.

In 2023, Paraguay did not export any services to Trinidad and Tobago.

Comparison In 2023, Trinidad and Tobago ranked 98 in total exports ($11.7B), and does not have data regarding Economic Complexity Index. 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, Trinidad and Tobago exported $41.2k to Paraguay. The main products exported from Trinidad and Tobago to Paraguay were Stone Processing Machines ($17.5k), Hard Liquor ($13.7k), and Other Engines ($7.62k). During the last 5 years the exports of Trinidad and Tobago to Paraguay have increased at an annualized rate of 3.54%, from $34.6k in 2018 to $41.2k in 2023.

In 2017, Paraguay exported $113k to Trinidad and Tobago. There were not main exports from Paraguay to Trinidad and Tobago in 2017. During the last 5 years the exports of Paraguay to Trinidad and Tobago have decreased at an annualized rate of 32.2%, from $791k in 2022 to $113k in 2017.

Exports from Trinidad and Tobago () to Paraguay () (2023)

Exports from Paraguay () to Trinidad and Tobago () (2023)

Latest Data

Trade between Trinidad and Tobago () and Paraguay ()

Paraguay Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Trinidad and Tobago
Top DestinationUnited States$3.26B

Paraguay
Top DestinationArgentina$4B

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

In 2023, countries that imported more from Trinidad and Tobago than Paraguay included United States ($3.26B), China ($783M), and Guyana ($625M).

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

Difference in imports from Paraguay () and Trinidad and Tobago () (2023)

Comparative Advantage Trinidad and Tobago - Paraguay

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Trinidad and Tobago had a large net trade with Paraguay in the exports of Machines ($26.4k), Foodstuffs ($13.7k), and Metals ($995).

During 2017, Paraguay had a large net trade with Trinidad and Tobago in the exports of .

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Trinidad and Tobago Paraguay+$30.9kHard Liquor

Top Product Potential Paraguay Trinidad and Tobago+$2.01kCorn

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

About

Historical Data

Bilateral Trade by Products

Exports from Trinidad and Tobago () to Paraguay () (2023)

Exports from Paraguay () to Trinidad and Tobago () (2023)

Latest Data

Trade between Trinidad and Tobago () and Paraguay ()

Paraguay Exports

Market Competitiveness

Difference in imports from Paraguay () and Trinidad and Tobago () (2023)

Comparative Advantage Trinidad and Tobago - Paraguay

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Trinidad and Tobago () and Paraguay () (2023)

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