Israel-Paraguay trade exchange highest in the past 7 years – CACOPI
RIO DE JANEIRO, BRAZIL – Paraguayan exports to Israel through October 2021 have exceeded the figures generated in the whole of 2020, the most difficult period of the pandemic, and are among the highest in the past 7 years, according to a report by the Paraguayan-Israeli Chamber of Commerce (CACOPI).
Through October, products worth over US$112.622 billion were shipped, surpassing exports in the same period last year, which amounted to US$111.583 billion, according to data provided by the Investment and Exports Network (REDIEX), based on the National Customs Directorate’s (DNA) Sofia system.
This is one of the highest export figures since 2014, second only to 2019, the year before the pandemic, where exports to Israel totaled US$122.753 billion, according to the report.
Meat was and continues to account for the largest share of shipments over the years. So far this year, beef leads shipments with a value of US$88.236 billion; soybeans complete the podium, with an export value of US$13.443 billion, and charcoal, with US$3.796 billion.
IMPORTS
Imports through October this year reached US$9.505 billion, mainly due to the purchase of insecticides and pesticides; also mineral fertilizers or compound chemicals, hair products, tar distillation oils, as well as paper and uncoated cardboard.
“Paraguay has much potential that can be exploited in its relationship with Israel, including as a gateway to the European Union and the U.S.,” CACOPI states.
CACOPI chairman Alejandro Rubín Cymerman said that “as can be seen, the trade balance is 10 to 1 in favor of Paraguay. In the Chamber we highlight the generation of business and the stronger relationship between Paraguay and one of the most developed and innovative economies such as Israel, as one of its pillars,” he said.
He added that the Chamber promoted this report within the framework of its 5th anniversary, highlighting its active presence and providing a summary of the many achievements and activities since its creation.
Key Facts
— Deep Dive
— For the complete picture, read our in-depth guide: Paraguay: Washington's Most Valued Ally in Latin America
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