FX.co ★ Paraguay Trade Balance Turns Negative in May

Paraguay experienced a significant shift in its trade balance in May 2025, recording a trade deficit of USD 538.4 million, compared to a surplus of USD 420.9 million during the same month last year. Export revenues declined by 8.4% year-over-year, totaling USD 4.53 billion. This decrease was primarily attributed to a substantial 21% drop in primary product exports, notably soybeans, which fell by 26.8%. However, this loss was partially offset by gains in wheat and corn exports. Agro-industrial goods showed resilience, increasing by 3.3% due to robust beef exports, while industrial manufactured goods saw a rise of 2.7%, driven by aluminum and electrical cable sales. Unfortunately, energy exports suffered an 11.9% decline. In contrast, imports grew by 5.4%, reaching USD 6.85 billion, primarily due to heightened imports of industrial goods (up 9%), agro-industrial goods (up 11.9%), and primary products (up 14.9%). Meanwhile, fuel and lubricant imports decreased by 19.1% as a result of reduced demand for diesel and gasoline. These changes highlight a combination of declining external sales and increased domestic consumption.