Exporting to Paraguay
Imports are increasing
Paraguay’s import market has grown every year from 2014 to 2018 (IMF, 2019). Apart from a dip in 2019, this growth is projected to continue until at least 2024 (IMF, 2019). UK businesses looking to export to Paraguay may benefit from the increase in demand for UK goods and services.
Demand for UK goods
UK exports to Paraguay increased by 8.5% in the year up until March 2019 (ONS, 2019). Goods made up 86% of the total exports during this period (ONS, 2019). Top UK exports to Paraguay include beverages, manufacturing, office machinery and cars (ONS, 2019). If you’re a UK specialist in these areas, you may find opportunites in here.
Economic conditions are improving in Paraguay. GDP growth has been positive every year since 2014, whilst unemployment levels have held at just under 6% over the same period (IMF, 2019). Growth is projected to continue for at least the next five years (IMF, 2019), which should equate to an increase in spending power for local consumers.