Exporting to Paraguay

Paraguay is a South American country with a population of over 7.1 million people (IMF, 2019). It is landlocked and bordered by Argentina, Brazil and Bolivia. It is the UK's 139th largest trading partner, with exports totaling £43 million in the year up until June 2019 (ONS, 2019).

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.

Strengthening economy

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.

Ease of doing business

113th

out of 190 countries (World Bank, 2018)

Currency

Paraguayan Guarani

Business language

Spanish

GDP per capita

$5,934.2

UK is $42,558 (IMF, 2018)

Economic growth

3.7%

(IMF, 2018)

Time zone

GMT -4

Next steps

DIT can advise you on doing business abroad, and help put you in touch with other people who can help such as lawyers and distributors.