Paraguay uses only 49% of its market potential for exports

India, as a strategic country due to the diplomatic relations that it combines as a trading partner, is one of the economies outside the region in which Paraguay has the greatest potential to increase its exports to the said market, but Paraguay is only taking advantage of 49.6%.

This is what the head of Commercial Agreements of the Ministry of Finance, Raúl Domínguez, stated in relation to what the ITC market access map indicates, which reveals that Paraguay only exports US$123 million.

And the premise that it only takes advantage of about 50% of everything it can sell to this Asian country is that, according to the map, the export potential is US$227 million, leaving a gap or unexplored potential of US$115 million.

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Likewise, according to the potential export map published by Domínguez on his Twitter account, the five markets with the greatest potential and current destinations are Brazil, Argentina, Russia, Chile, and India is already in fifth place, even above the United States and Israel.

This was announced after the recent meeting between the Substitute Minister for Foreign Affairs, Ambassador Raúl Silvero, and the Ambassador of the Republic of India in Asunción, Yogeshwar Sangwan, on which occasion they reviewed the bilateral agenda on political, economic and trade, investment and cooperation in various fields.

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In this context, they addressed the favorable opportunities to cooperate between Paraguay and India, such as non-reimbursable cooperation with Paraguay, the training of university students, and the modernization of national public institutions, among other actions.

On this issue, the page called Economic and Commercial Profile was consulted, where it is observed that in 2020 the deficit trade balance (more imports than exports) of Paraguay with respect to India was US$70 million, with total shipments for a value of US$164.9 million.

With information from La Nacion