Trade Between Brazil and Paraguay Sees Significant Growth in 2024

Trade between Brazil and Paraguay in the first half of 2024 grew by over 13%, with Paraguayan exports expanding by 25.9% compared to the same period in 2023. This commercial exchange reached a turnover of USD 3,429 million, representing a 13.6% increase from the accumulated value as of June 2023, according to data from Brazil’s Ministry of Development, Industry, Commerce and Services (MDIC).

The trade balance slightly favored Paraguay, with a surplus of USD 5.6 million. This resulted from a modest 3.1% increase in Brazilian exports and a robust 25.9% growth in Paraguayan exports compared to the same period last year.

Brazil’s exports to Paraguay totaled USD 1,712 million by June 2024. The Brazilian export pattern remains diverse and includes high-value goods, with industrial products making up 97% of total exports in the first half of the year. Notable exports from Brazil to Paraguay included agricultural machinery (USD 81.7 million, 4.8% of total exports), processing industry products (USD 81.6 million, 4.8%), chemical fertilizers (USD 74.4 million, 4.3%), alcoholic beverages (USD 67.5 million, 3.9%), and insecticides and herbicides (USD 54.7 million, 3.2%). Paraguay ranked as the 22nd destination for Brazilian exports during this period.

Paraguayan exports to Brazil reached USD 1,717 million from January to June 2024, marking a 24.9% increase from the same period last year. The primary contributors to this growth were soybeans (+528%), wheat (+56%), and rice (+36.8%). Conversely, there was a 6% decline in electrical energy exports.

Brazil’s main imports from Paraguay included electrical energy (USD 483 million, 28% of total imports), soybeans (USD 261 million, 15%), shelled or semi-processed rice (USD 208 million, 12%), equipment for electrical energy distribution (USD 127 million, 7.4%), and chilled or frozen meat (USD 75.2 million, 4.4%). Paraguay ranked as the 15th largest supplier to Brazil.

Brazil continues to be the most important market for exports from Paraguay’s maquiladoras. According to the Central Bank of Paraguay (BCP), exports of goods under this regime reached USD 518.9 million by June 2024, a 2% increase from June 2023. Key exported products included traditional items like wires and cables (auto parts) and textiles, along with new products such as undenatured ethyl alcohol, stamped sheets, aluminum containers, and metal screw caps.

Source: Agencia de Información Paraguaya

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