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Paraguayan exports grow 30.1 % in the first four months of the year

Paraguay’s total exports experienced a significant growth of 30.1 percent at the end of the first four months of the year compared to the same period last year, according to the foreign trade report of the Central Bank of Paraguay (BCP) released on Thursday.

The same refers to that from January April 2023, shipments reached a value of US$5.614 billion, compared to the US$4.316 billion generated in the same period of 2022, making transactions with a total of 121 countries that constitute the destinations of Paraguayan exports.

As for imports, these totaled US$4.698 billion, an increase of 3.1 percent over the first four months of the previous year, and registering purchases in 127 countries that constituted the origin of the same.

Asunción, the capital of Paraguay. (Photo internet reproduction)
Asunción, the capital of Paraguay. (Photo internet reproduction)

As a result of the trade balance, this leaves a surplus of US$916.3 million, higher by ?US$1.156 billion than the deficit recorded up to April 2022.

The official report of the Paraguayan parent bank indicates that in the first four months of the year 2023, transactions were carried out in the South American country’s foreign trade for US$10.312 billion dollars, representing an increase of 16.2 percent with respect to the accumulated value as of April of the previous year.

When analyzing the behavior of exports recorded in values by processing levels, it was observed that primary products amounted to US$1.828 billion, representing an increase of 99.8 percent with respect to the same period of the previous year.

The products with the highest positive impact were soybeans, corn, rice, and other oilseeds and oleaginous fruits.

Soybeans and corn were also the products with the most significant impact on total exports in volume terms, with 3,642,100 tons shipped up to April.

On the other hand, exports of fuels and energy increased by 17.6 percent, reaching a value of US$513.8 million, explained by the increase in the export levels of electric power, according to the report.

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