*Paraguay’s central bank (BCP) has released new foreign trade figures showing a trade deficit of US$168.2m between January and November 2024, a sharp drop from the surplus of US$1.4bn registered for the same period in 2023. Total exports to November 2024 amounted to US$14.7bn, 6% less than the US$15.7bn accumulated in the same period in 2023. The BCP attributed the reduction to decreased sales of electrical energy, a fall in maize exports, and lower prices of soybeans compared to the period in the previous year. Argentina was the main recipient of Paraguayan exports, accounting for 32.2% (US$3.3bn), followed closely by Brazil at 32.1% (US$3.2bn), and Chile at 8.3% (US$854m). Total imports to November 2024 amounted to US$14.9bn, 4.4% higher than the US$14.3bn recorded in the same period in 2023. China remained the main source of Paraguayan imports, accounting for 32.5%, followed by Brazil (24.6%) and Argentina (7.0%).
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