Trade: Paraguay
Paraguay sold US$17.8 billion of goods abroad from January to October 2026, a quarter more than a year earlier, and still ended up with a trade surplus of US$668.6 million. The Banco Central del Paraguay (BCP), the country’s central bank, published the figures on Thursday 12 November 2026.
Key Facts
—Surplus. Paraguay’s trade surplus reached US$668.6 million over January to October 2026.
—Exports. Total exports rose 25% to US$17.8 billion, led by soy, soybean oil and soybean meal.
—Imports. Imports grew more slowly, up 14.5% to US$17.1 billion.
—Factories. Maquila (assembly-for-export) shipments, reported on their own line, rose 26.4% to US$1.3 billion.
—Rating. S&P Global Ratings, a US credit agency, rates Paraguay BBB-, investment grade, since December 2025.
What the Numbers Show
Total exports grew 25% from US$14.25 billion a year earlier. Imports rose 14.5% to US$17.1 billion, up from US$14.97 billion.
Exports therefore outran imports by US$668.6 million. Subtracting the 2025 totals gives a deficit of about US$720 million for the same ten months last year, by our own calculation.
What Drove the Gain
The BCP’s largest category, registered exports, totalled US$11.36 billion, or 63.8% of the total. They rose 19.3%, driven mainly by soybeans, soybean oil and soybean meal.
Re-exports, goods that are imported and then sold on to other countries, reached US$4.44 billion, up 18.6%. The BCP’s other-exports category more than doubled, rising 105% to US$2.01 billion.
The BCP also reports maquila exports on their own line: factories that assemble goods for sale abroad shipped US$1.30 billion, up 26.4%. On the import side, registered purchases made up 98% of the total at US$16.80 billion, up 14.8%.
Why It Matters to Investors and Expats
A trade surplus means more foreign currency flows in from sales abroad than flows out to pay for imports. S&P Global Ratings, a US credit agency, upgraded Paraguay to BBB-, an investment-grade rating, from BB+ on 17 December 2025.
Registered exports were driven mainly by soy and its derivatives, so crop prices and harvests matter for the country’s dollar earnings. A strong currency can weigh on exporters, as we reported when the guaraní surged against farm exporters.
What Is Not Known
The cumulative surplus stood at US$712 million at the end of September. That implies a deficit of about US$43 million in October alone, unless earlier months were revised.
The next BCP update, covering November, will show whether the surplus is holding. For more on the country’s institutions, see our coverage of the new central bank chief and the Paraguay news hub.
Frequently Asked Questions
How big is Paraguay’s trade surplus in 2026?
Paraguay recorded a trade surplus of US$668.6 million from January to October 2026, according to the Banco Central del Paraguay. Exports totalled US$17.8 billion and imports US$17.1 billion.
What drove Paraguay’s export growth?
Total exports rose 25%, with registered exports led by soybeans, soybean oil and soybean meal. Maquila shipments, from factories that assemble goods for sale abroad, rose 26.4%.
Sources
Banco Central del Paraguay, foreign trade report, 12 November 2026, as carried by La Nación, 12 Nov 2026 · Revista PLUS, 12 Nov 2026 · 1000 Noticias, 12 Nov 2026. September cumulative: La Nación, 13 Oct 2026. Rating: S&P Global Ratings, 17 December 2025.
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