Paraguay · Economy

Soybeans, soy derivatives and cross-border factory goods pushed Paraguay’s foreign sales to a fresh high in the first seven months of the year — and flipped the trade balance back into the black.

The Paraguay export boom is real, and the official numbers now confirm it. The Central Bank of Paraguay says the country sold US$12,133.7 million worth of goods abroad between January and July 2026, a 25.2% jump on the same stretch of 2025. That is enough to turn last year’s trade gap into a solid surplus, and it puts Paraguay on track for one of its strongest trade years on record.

Soybeans and maquila drove Paraguay’s export surge. (Photo: Internet Reproduction)

Inside the Paraguay export boom

Start with the headline figure. The US$12,133.7 million total covers everything Paraguay ships out — not just home-grown goods. The BCP splits it three ways. Registered exports, meaning products actually made or grown in Paraguay, came to US$7,884.3 million, or about 65% of the total, and rose 20.5%. Re-exports — goods that pass through the country on their way somewhere else — added US$3,071.8 million. A third bucket the bank calls “other exports” more than doubled to US$1,177.6 million.

The trade balance tells the clearest story. Imports also grew, reaching US$11,454.6 million, up 12.8%. But exports climbed far faster than imports. That gap produced a US$679.1 million surplus. A year earlier, Paraguay was running a US$462.9 million deficit over the same months. That is a swing of more than US$1.1 billion in twelve months.

Soybeans do the heavy lifting

If you want one word for what is powering all this, it is soy. Raw soybean shipments alone brought in US$2,648.6 million, close to 50% more than a year earlier, on volumes up nearly 41%. Soybean oil added US$432.3 million (up 23.1%) and soybean meal another US$432.2 million (up 18.7%). Together, the soy complex is doing most of the work.

A good harvest and firm prices explain the surge. Primary products as a whole — the raw farm goods — rose about 40% to US$3,151.5 million. Factory goods made under Paraguay’s maquila regime, where companies assemble products for export using cheap local labor and power, climbed 32.1% to US$858.7 million. That maquila growth matters, because it shows the boom is not only about the weather and the soybean crop.

Where beef and power slipped

Not every sector joined the party, and this is worth flagging. Beef, usually one of Paraguay’s proudest exports, went the other way. Shipments fell 7.4% to US$1,120.5 million, with volumes down almost a quarter. Cattle numbers and shifting demand appear to be weighing on the sector for now.

Electricity was the other soft spot. Paraguay is a huge power producer thanks to the Itaipú and Yacyretá dams, and energy sales are often cited as a pillar of its exports. This year, though, electricity export volumes fell 19.3%, which the central bank links to higher use at home. So while soy and maquila are lifting the total, beef and power are quietly dragging — a useful reminder that headline growth can hide very different stories underneath.

Who is buying, and why it matters to you

Paraguay’s neighbors are its best customers. Argentina took US$3,279.3 million of shipments, 41.6% of the total, and its purchases jumped 52.6%. Brazil was next at US$1,995.1 million (25.3%), up a modest 3.7%. Chile came third at US$503.8 million, though its buying slipped 11.5%. In short, the Southern Cone is buying big, and Argentina in particular is back at the table.

Here is why this should matter if you live in or invest across Latin America. A country running a trade surplus tends to earn more hard currency, which supports its guaraní and helps keep inflation and interest rates steadier — part of why Paraguay keeps drawing farmers, manufacturers and remote workers looking for a low-cost, low-tax base. A strong trade year also feeds the wider economy, from trucking and ports to the small businesses that serve them. If you are weighing a move, a property purchase or a supplier in the region, Paraguay’s export strength is one more sign of an economy holding its footing while others wobble.

Frequently Asked Questions

Sources: Central Bank of Paraguay (BCP) foreign trade report, via ABC Color, La Nación, Última Hora and El Trueno (August 12, 2026).