Paraguay’s Foreign Trade Sees Significant Growth in 2023

According to the trade report from the Central Bank of Paraguay (BCP), the country’s total exports reached $12.851 million by September 2023, marking a substantial 20.6% increase compared to the $10.655.2 million observed in the same month of 2022.

The report provides a breakdown of exports, indicating that registered exports accounted for 69.7% of the total, reaching $8.960.4 million, an impressive 15.8% increase when compared to the accumulated value up to September 2022.

Reexports represented 24.4% of the total and recorded a value of $3.132.2 million, showing significant growth of 31.8%. Other exports, with a 5.9% share, increased by 39.5%, reaching a value of $758.5 million.

The surge in exports can be attributed primarily to increased shipments of soybeans, rice, and soy meal. Operations conducted under the maquila regime reached $736.7 million, indicating a slight reduction of 2.3% compared to the same period in 2022.

By September 2023, total imports reached $11.460 million, marking a modest 0.9% increase compared to the previous year.

Registered imports represented 95.9% of the total, reaching a value of $10.985.5 million, demonstrating a 0.6% growth compared to the accumulated value up to September 2022. Other imports made up the remaining 4.1%, with a value of $474.5 million. A reduction in volume of 3.5% was observed.

Finally, as of the ninth month of 2023, the trade balance registered a surplus of $1,391.1 million.

Source: Agencia de Información Paraguay

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