Paraguay: Agriculture Cushions Trade Deficit Amid Declining Exports

The agricultural sector remains the cornerstone of Paraguay’s economy, driving export revenues and ensuring economic stability. In a year marked by a 6% drop in total exports and a trade deficit of $168.2 million, Paraguay’s agricultural industry played a critical role in mitigating the broader impact on the country’s trade balance, according to the latest Foreign Trade Report from the Central Bank of Paraguay.

Corn and soybeans, flagship products of Paraguay’s agricultural output, experienced declines in export value due to global price fluctuations. However, their export volumes maintained a strong presence in international markets. Additional contributions came from oilseeds, fruits, wheat, sesame, and other commodities, which collectively bolstered the growth in primary product export volumes.

As the backbone of the country’s trade balance, agriculture continues to play a vital role in generating wealth, creating jobs, and fostering economic stability.

Source: Valor Agro

Original reporting available at: https://www.valoragro.com.py/economia/el-agro-mitigo-el-deficit-comercial-en-un-ano-de-caida-de-las-exportaciones-totales/

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