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March 17, 2023
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Oil industry “forced” to export grains due to low profitability of industrialization

Oil industry "forced" to export grains due to low profitability of industrialization

February 2023, total exports reached a value of USD 2,203.1 million, 22.8% higher than the USD 1,794.3 million in February of the previous year.

The foreign trade report corresponds to the Central Bank of Paraguay (BCP).

Meanwhile, registered exports represented the 60.6% of the total, reaching USD 1,334.3 million6.1% higher than the accumulated value as of February 2022.

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The re-exports, with the 32% of the total, registered a value of USD 704.6 million, with an increase of 46.4% compared to the same period last year.

The other exports, with a 7.5% participation, registered an increase of 196.7% compared to the value as of February of the previous year, standing at a level of USD 164.2 million.

The increase observed in registered exports is mainly explained by higher shipments of corn, electricity and soybeans.

Shipments made under the maquila regime reached USD 174.6 million, higher by 24.6% to what was registered in the same period of 2022.

As of February 2023, total imports reached USD 2,313.1 million, 3.5% higher Compared to the same period of the previous year.

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Registered imports represented the 95.8% of the total, reaching a value of USD 2,215.2 million, 3.5% higher than the accumulated value as of February 2022, while other imports represented the remaining 4.2%, for a value of USD 97.9 million.

In volumes, a reduction of 21.9% was observed.

Finally, the trade balance, in the second month of 2023, registered a deficit of USD 110.0 million, USD 330.1 million less than the deficit registered in February 2022.



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