Paraguay’s Trade Balance Swings to a $746 Million Surplus

PARAGUAY · TRADE

Paraguay’s trade balance flipped to a surplus of about US$746.6 million in the first half of 2026, a sharp turnaround from a deficit a year earlier, driven mainly by soybeans and soybean oil. The rebound gives the landlocked economy a rare external cushion.

A deficit becomes a surplus

A year ago Paraguay ran a first-half trade deficit of about US$373.8 million. This year the same period closed with a surplus of roughly US$746.6 million.

The full swing is worth more than US$1.1 billion, an unusually large move for an economy Paraguay’s size. It reflects both stronger shipments and steadier import demand.

Soybeans do the heavy lifting

Exports of about US$10.16 billion were led by soybeans, soybean oil and beverages. Agriculture remains the backbone of Paraguay’s foreign sales.

June alone saw exports climb 25.1% from a year earlier to US$1.74 billion. That single-month surge underlines how much the harvest cycle drives the headline.

Imports rise, but more slowly

Imports totalled about US$9.42 billion, up 9.2%, led by fuels and lubricants, cars, SUVs and pickups, and electrical equipment. Rising imports usually signal firmer domestic demand.

Because exports outran imports, the gap turned positive. That balance is what converts a farm-driven boom into a headline surplus.

What to watch

A surplus built on soybeans is only as reliable as the harvest and world prices. A weak crop or softer demand would narrow it quickly.

For now the cushion helps Paraguay weather a period of tighter regional trade and volatile currencies. The second-half data will show whether the trend holds.

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