Diversification in Exports: Paraguay Enters Eight New Markets in July

Paraguay has made significant strides in diversifying its export markets, according to the Investment and Export Network (Rediex) through its Competitive Intelligence Division. In July 2024, Paraguay exported eight new products to international markets, totaling USD 13.269 million in value.

This growth marks a milestone in the country’s internationalization strategy. “New markets” are those when a given product is exported to a specific location for the first time in seven years. Frozen beef, rice, ethanol, and cut tobacco were among the leading products finding new destinations.

The exports are detailed below:

• Frozen beef to Bermuda worth USD 139,000
• Rice to the British Virgin Islands worth USD 69,000
• Sausage casings to Albania worth USD 54,000
• Rice to Slovakia worth USD 125,000
• Ethanol to Spain worth USD 12,300,000
• Corn to the Netherlands worth USD 53,000
• Soft drinks to Brazil worth USD 429,000
• Cut tobacco to Turkey worth USD 100,000

The USD 12.3 million ethanol shipment to Spain stood out as the most significant operation of the month, underscoring Paraguay’s growing role as a biofuel supplier in the European market. Additionally, the introduction of frozen beef in Bermuda and cut tobacco in Turkey highlights the country’s success in entering highly competitive markets.

This achievement strengthens Paraguay’s position as a relevant player in global trade, with a diverse and competitive offering that continues to reach new frontiers.

Source: Agencia de Información Paraguaya

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