Paraguay Launches Ambitious Export Project to United Kingdom

Paraguay, a member of Mercosur, is undertaking an ambitious project aimed at boosting its exports to around $900 million annually within a few years. This goal was outlined in a recent report from the Export and Investment Network (Rediex) during an event held in partnership with the Paraguayan-British Chamber of Commerce.

Paraguay exports goods worth $51 million annually to the United Kingdom, while its imports total $141 million. The main exports from Paraguay to the UK include soybean products, beef, rice, and other commodities. Between 2021 and 2023, the most exported products were soybean meal for animal feed, which accounted for 76.8% of the total, followed by charcoal (8.2%), veneer (4%), rice (3.4%), and other products such as sesame seeds, chia seeds, and frozen beef.

The following chart shows the month-over-month progress of container exports, measured in TEUs, from Paraguay to the UK. The data is from DataLiner. Readers may request a demo below.

Paraguayan Exports to UK | Jan-Aug 2021 vs. Jan-Aug 2024 | TEU

Source: DataLiner (click here to request a demo)

Conversely, Paraguay’s imports from the UK consist primarily of alcoholic beverages (40% of the total), as well as automobiles, phones, saline solutions, and vaccines.

Federico Silva, director of the Paraguayan-British Chamber of Commerce, highlighted the significant growth potential for Paraguayan exports to the UK. He pointed out that fresh or chilled beef, rice, and soybean oil present significant opportunities to set new export records. Silva also emphasized that exports of products such as charcoal, frozen beef, sesame seeds, chia seeds, and veneer are expected to continue growing, driven by strengthened bilateral relations.

Source: 100 Fronteiras

Click here to read the original reporting: https://100fronteiras.com/paraguai/noticia/paraguai-com-o-ambicioso-projeto-de-exportacao-para-o-reino-unido/

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