Paraguay-Brazil Trade Grows 9.8%, Hits 10-Year Record

The commercial exchange between Paraguay and Brazil recorded 9.8% growth in 2024, reaching USD 7.271 billion, representing the best result of the last decade. According to Brazil’s Ministry of Development, Industry, Trade and Services, this expansion reflects economic recovery and strengthening commercial ties between both countries.

Paraguayan exports to the Brazilian market totaled USD 3.518 billion, showing a 19.2% increase compared to the previous year. Among the most exported products were electrical energy, valued at USD 1.030 billion, followed by corn at USD 526 million and soybeans at USD 319 million, which experienced remarkable growth of 304%. Meanwhile, meat registered a 4.3% reduction, while electrical distribution equipment increased by 22%.

According to Paraguay’s Central Bank (BCP), manufactured product exports under the maquila regime reached a record USD 1.124,4 billion, reflecting 10.4% growth compared to the previous year. Brazil consolidated its position as the main destination, representing 62.7% of total exports. The most prominent products in this category include electrical wires and cables for the automotive industry, textile garments, and aluminum products.

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Regarding imports, Paraguay registered purchases from Brazil totaling USD 3.753 billion in 2024, representing a 2.3% increase compared to 2023. The main imported goods were fertilizers, transformation industry products, and automobiles, with 10.5% growth. However, agricultural machinery suffered a 34% decline, reflecting the local productive sector’s slowdown.

Despite export growth, Paraguay closed the year with a USD 234 million trade deficit, as imports exceeded exports. This result reflects the constant demand for industrial inputs and consumer goods from Brazil, which represent a key supply component for the Paraguayan economy.

Artículo en español aquí.