Paraguay: 11 products will benefit from zero tariffs in trade with Taiwan

Between January and October 2022, Paraguay’s accumulated exports total US$847 million, which represents 20% more than the US$705 million mobilized in the same time frame of 2021. The data comes from the report of the presidency of the National Council of Export Maquiladora Industries (Cnime), in charge of the Ministry of Industry and Commerce (MIC).

The most exported product so far this year corresponds to the auto parts sector, which represents 27%, followed by food products with 20%, clothing and textiles with 17%, aluminum and its manufactures with 12%, as well as that of plastics and their manufactures with 8%. Those five products comprise 83% of the total exported from January to October, according to the MIC report.

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As for the monthly export corresponding to October 2022, it totaled US$87 million, that is, 8% more in relation to the US$81 million registered in the same month of 2021.

Among the main export destinations, Brazil continues to be one of the most important markets, with a 65% share; while Argentina follows with 12%; Singapore and the United States with 6% each; to Uruguay it was possible to export 3% and to Chile 3% of the maquiladora industrial production. With this, 79% of the industrial products of the maquila regime are destined for Mercosur.

Imports registered from January to October reach US$535 million, which is 16% higher than the US$460 million imported in the same period of 2021.

The monthly import of supplies, during the month of October 2022, registered purchases worth US$49 million, which represented an increase of 3% in relation to the US$47 million imported in the month of October 2021.

The trade balance, exports less imports, accumulated from January to October of the current year, registered an increase of 27% compared to the same period in 2021.

In the months of January to October 2022, the trade balance surplus reached US$313 million, while in 2021 the accumulated surplus was US$245 million.

With information from PortalPortuario