Republic of Paraguay
Landlocked · South America · between Argentina, Brazil and Bolivia
- Capital
- Asunción
- Largest city
- Asunción
- Languages
- Spanish and Guaraní (both official)
- Demonym
- Paraguayan
- Government
- Unitary presidential republic
- President
- Santiago Peña (since 15 August 2023)
- Currency
- Paraguayan guaraní (PYG · ₲)
- Area
- 406,752 km²
- WTO member
- Yes — since 1995
- Trade bloc
- Mercosur (founding member)
Paraguay's Geography & People
Paraguay is a landlocked country in the heart of South America, bordered by Argentina, Brazil and Bolivia. Most of its trade moves along the Paraguay–Paraná river system to Atlantic ports.
Asunción, the capital, sits on the Paraguay River.
Paraguay's Economy
Paraguay is one of the world's major exporters of soybeans and beef. It also exports large amounts of hydroelectric power from the Itaipú and Yacyretá dams it shares with Brazil and Argentina.
A growing maquila (export assembly) industry produces auto parts, electrical cables and textiles, mainly for Brazil.
Paraguay's Trade Policy
Paraguay is a founding member of Mercosur, alongside Argentina, Brazil and Uruguay, and has been a WTO member since 1995.
Ciudad del Este, on the Brazilian border, is a major re-export hub, so re-exports are a large share of Paraguay's recorded exports.
Paraguay's Trade Position
Exports in 2026 are on course for a record year, driven by a strong soybean harvest and growing manufacturing (BCP). After a deficit for all of 2025, trade has swung into surplus.
Exports are highly concentrated in neighbouring markets: Argentina, Brazil and Chile together take nearly three-quarters of them.
Paraguay's Top Trading Partners
Goods · Jan–Jun 2026 · BCPArgentina and China are Paraguay's two biggest partners, in opposite directions: Argentina is its largest export market and China its largest supplier. Brazil is both the second-largest market and the second-largest supplier.
| # | Partner | Paraguay's exports to | Paraguay's imports from |
|---|---|---|---|
| 1 | 🇦🇷 Argentina | $2,771M (42.3%) | — |
| 2 | 🇧🇷 Brazil | 2nd market | $1,980M |
| 3 | 🇨🇳 China | — | $3,317M |
| 4 | 🇺🇸 United States | — | $586M |
January–June 2026, Central Bank of Paraguay figures as reported by EFE and InfoNegocios. Exports to Argentina rose 52.5%, mostly soybeans for crushing; imports from Brazil rose 21.5% and from the US 6.4%. The half-year summaries give only the largest values in each direction, so a dash means not reported, not zero. Total exports were $10,162M and imports $9,416M, a surplus of $746.6M. Source: Banco Central del Paraguay, Informe de Comercio Exterior, June 2026.
Mercosur–India Preferential Trade Agreement
Paraguay trades with India under the Mercosur–India Preferential Trade Agreement, in force since 1 June 2009, which cuts tariffs on about 450 tariff lines in each direction. Check trade obstacles for your product →
Other Country Profiles
Import Summary
Paraguay's Top Import Sources
Goods · Jan–Aug 2026 · BCPChina supplied $4,753 million of Paraguay's imports in January–August 2026, 36.4% of registered imports, mainly mobile phones, laptops and electronics. Brazil and the United States follow.
| # | Country | Imports | Period | Change |
|---|---|---|---|---|
| 1 | 🇨🇳 China | $4,753M | Jan–Aug 2026 | — |
| 2 | 🇧🇷 Brazil | $1,980M | Jan–Jun 2026 | ▲ 21.5% |
| 3 | 🇺🇸 United States | $586M | Jan–Jun 2026 | ▲ 6.4% |
| 4 | 🇦🇷 Argentina | $456M | Jan–May 2026 | ▲ 11.0% |
Central Bank of Paraguay figures as reported in the Paraguayan press; Brazil, US and Argentina values come from earlier 2026 reports because the August summary gave only China's value. Argentina's change is calculated from the reported increase of $45M. In 2025 as a whole, China supplied $6,122M (34.5%) and Brazil $4,141M (23.4%) of total imports of $18,111M. Sources: Banco Central del Paraguay, Reporte de Comercio Exterior, May, June and August 2026 and December 2025.
Paraguay's Top Imported Products
Jan–Jun 2026 · BCPLATEST| # | Product | Imports | Share | Change |
|---|---|---|---|---|
| 1 | Motor vehicles | $651M | 6.9% | ▲ 42.7% |
| 2 | Data processing machines (computers) | $361M | 3.8% | ▲ 62.9% |
These are the two import lines the Central Bank highlighted for the first half of 2026. Shares are of first-half imports ($9,416M, implied by BCP's export and surplus figures). Change versus January–June 2025.
Paraguay's Import Trend
Goods · US$| Period | Goods Imports | Change vs a year earlier |
|---|---|---|
| Jan–Aug 2026 | $13,308M | ▲ 13.9% |
| 2025 (full year) | $18,111M | — |
The 2025 value is implied by BCP's reported 2025 exports ($16,720M) and deficit ($1,391M). Source: Central Bank of Paraguay.
Tariff preferences for Indian goods
Indian exporters pay Mercosur's common external tariff in Paraguay, with reductions on the products covered by the Mercosur–India Preferential Trade Agreement. Check import duty for your product →
Export Summary
Paraguay's Top Export Markets
Goods · Jan–Jul 2026 · BCPLATEST| # | Country | Exports | Share |
|---|---|---|---|
| 1 | 🇦🇷 Argentina | $3,280M | |
| 2 | 🇧🇷 Brazil | $1,990M | |
| 3 | 🇨🇱 Chile | $504M |
Shares as reported by the Central Bank. Exports to Argentina rose 52.6%, mostly soybeans; to Brazil 3.7%, including electricity and auto parts; to Chile they fell 11.5% on weaker beef sales. Source: BCP data, as reported by La Nación Paraguay and Datamar News.
Paraguay's Top Exported Products
Jan–Aug 2026LATEST| # | Product | Exports | Share | Change |
|---|---|---|---|---|
| 1 | Soybeans (grain) | $2,886M | 20.6% | ▲ 45.9% |
| 2 | Beef & beef offal | $1,349M | 9.6% | ▼ 6.8% |
Soybean value from Capeco, the grain exporters' chamber; beef from the Central Bank. Other large exports, including soybean meal and oil, electricity and maquila goods, are covered in the summary and notes because matching January–August values were not published. Change versus January–August 2025.
Paraguay's Export Trend
Goods · US$| Period | Goods Exports | Change vs a year earlier |
|---|---|---|
| Jan–Aug 2026 | $14,025M | ▲ 24.7% |
| 2025 (full year) | $16,720M | — |
Paraguay's record year remains 2023, with $17,158M of exports. Source: Central Bank of Paraguay.
Paraguay's Exports by Type
Jan–Aug 2026 · BCP| Type | Value | Change |
|---|---|---|
| Registered exports (64.4%) | $9,029.9M | ▲ 18.9% |
| Re-exports (25.1%) | $3,523.9M | ▲ 18.9% |
| Other exports (10.5%) | $1,471.5M | ▲ 113.7% |
Paraguay's Central Bank splits exports into registered exports, re-exports (a large trade centred on Ciudad del Este) and other exports. Source: BCP, Reporte de Comercio Exterior, August 2026.
India is a growing market for Paraguay
Paraguay's exports to India topped $27 million in April 2026 alone, placing India among its main markets that month (Convue, Paraguay's export single window). Check trade obstacles →