MercoPress. South Atlantic News Agency

Paraguay's exports in seven months reached US$ 5,8bn; Mercosur represents 63%

Paraguay’s imports in the first seven months of 2022, reached US$ 8.9 billion, with a trade deficit of US$ 3.1 billion Overall imports rose 27% and sales dropped 8,5%

In the first seven months of this year, Paraguayan exports totaled US$ 5,8 billion and involved 136 countries. Data from the country’s Ministry of Finance show Brazil (36%) and Argentina (24.9%) as the main buyers, which added to Uruguay, Mercosur represents 63.1% of foreign sales.

Besides Brazil and Argentina, the “Top 5” customers of Paraguay include Chile (8.8%), Russia (3.8%), and the United States (2.5%). Produce most exported were soybeans (18%), electricity (14%), chilled beef (9%), frozen beef (9%), soy flour (8%), soybean oil (7% ), corn (4%) and rice (3%).

As for Paraguay’s imports in the first seven months of 2022, reached US$ 8.9 billion, with a trade deficit of US$ 3.1 billion Overall imports rose 27% and sales dropped 8,5%, compared to last year.

China (30.9%), Brazil (22.4%), Argentina (8.4%), United States (7.5%), and India (2.7%) lead the list of 141 countries from which Paraguay purchased, fuel (14%), telephone equipment (9%), cars (4%), agricultural and similar machinery (3%), insecticides (2%) and tires (2%).

Figures are similar to previous years: Brazil, Argentina, and Chile predominating among export destinations; and China, Brazil, and Argentina on the podium of biggest suppliers. The main route of entry and exit of products is the Paraná-Paraguay waterway

In related news Paraguay during July exported 273,000 tons more of the new harvested corn than an year ago, reported the Paraguayan Grains and Oilseed Traders Association (Capeco). In effect in July 2021, the country shipped 101,000 tons of corn, whereas in July this year, 375,000 tons were exported

According to Sonia Tomassone, Capeco’s Foreign Trade Advisor, 80% of the new corn crop has already been harvested. In the north of the country the crop has been good, high yields and productivity, but in the south fungi reduced yield and quality.

Overall the 2022 corn crop is in good shape, with a volume of 5 to 5,5 million tons. With domestic demand in the range of 1,5 to 2 million tons, the export surplus could reach 3 to 3,5 million tons