MercoPress. South Atlantic News Agency

Paraguayan exports on the rise but not for all products

However, there were significant reductions in exports of corn, beans, soybeans, and electricity

Paraguayan authorities reported Monday in Asunción that the South American country's global trade had recorded a 6.8% interannual increase in the first four months of 2024. Also showing significant progress was the e-commerce sector.

A study drafted by the Economy Ministry's Trade Policy and Integration General Directorate noted that global trade amounted to US$ 9,324,000 from US$ 8,689,968 in 2023, representing a nominal variation of US$ 634,032. Brazil remained Paraguay's main trading partner with a 25.4% share of operations, followed by Argentina (21.5%), China (20.3%), the United States (5.6%), and Chile (3.7%). Generally speaking, Mercosur accounted for 72.6% of all shipments.

While an overall increase in sales abroad was reported in April, there were significant reductions in exports of corn, beans, soybeans, soybeans, and electricity. The products with the highest positive year-on-year variation were rice, pesticides, and electrical wires.

In the meantime, Paraguay's e-commerce grew in 2023 and the trend remained unchanged in the first quarter of 2024 thanks to new payment alternatives and greater confidence in online platforms.

Paraguayan Chamber of Electronic Commerce (Capace) President Andrés Veirano said that online sales increased by 35% last year from 2022, exceeding US$ 1.3 billion. “This growth is due to improvements in technological infrastructure, greater internet access, and favorable policies for e-commerce. In addition, initiatives to strengthen micro, small, and medium-sized enterprises allowed local companies to expand their presence in the digital market,” he said.

“From Capace we recognize the challenges faced by consumers in Paraguay, especially regarding scams and phishing in the digital environment. Faced with this reality, we have prioritized user security as one of our main objectives,” he added.