Singapore (SGP) and Paraguay (PRY) Trade | The Observatory of Economic Complexity

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Singapore-Paraguay Trade: In 2022, Singapore exported $365M to Paraguay. The main products that Singapore exported to Paraguay were Refined Petroleum ($343M), Air Conditioners ($5.13M), and Polyacetals ($2.06M). Over the past 5 years the exports of Singapore to Paraguay have increased at an annualized rate of 57.6%, from $37.5M in 2017 to $365M in 2022.

In 2022, Singapore did not export any services to Paraguay.

Paraguay-Singapore Trade: In 2022, Paraguay exported $73.9M to Singapore. The main products that Paraguay exported to Singapore were Alcohol > 80% ABV ($69.7M), Frozen Bovine Meat ($1.18M), and Essential Oils ($1.1M). Over the past 5 years the exports of Paraguay to Singapore have increased at an annualized rate of 13%, from $7.23M in 2017 to $73.9M in 2022.

In 2022, Paraguay did not export any services to Singapore.

Comparison: In 2022, Singapore ranked 6 in the Economic Complexity Index (ECI 1.68), and 21 in total exports ($379B). That same year, Paraguay ranked 81 in the Economic Complexity Index (ECI -0.34), and 103 in total exports ($10.1B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Singapore exported $365M to Paraguay. The main products exported from Singapore to Paraguay were Refined Petroleum ($343M), Air Conditioners ($5.13M), and Polyacetals ($2.06M). During the last 5 years the exports of Singapore to Paraguay have increased at an annualized rate of 57.6%, from $37.5M in 2017 to $365M in 2022.

In 2017, Paraguay exported $73.9M to Singapore. The main products exported from Paraguay to Singapore were Alcohol > 80% ABV ($69.7M), Frozen Bovine Meat ($1.18M), and Essential Oils ($1.1M). During the last 5 years the exports of Paraguay to Singapore have increased at an annualized rate of 13%, from $7.23M in 2022 to $73.9M in 2017.

Exports from Singapore () to Paraguay () (2022)

Exports from Paraguay () to Singapore () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Singapore
Top DestinationHong Kong$51.6B

Paraguay
Top DestinationBrazil$3.67B

This map shows whether countries import more from Singapore or Paraguay. Each country is colored based on the difference in imports they receive from Singapore and Paraguay or the difference in the growth in imports.

In 2022, countries that imported more from Singapore than Paraguay included Hong Kong ($51.6B), China ($51.2B), and Malaysia ($35.9B).

In 2022, countries that imported more from Paraguay than Singapore included Brazil ($3.67B), Argentina ($1.91B), and Chile ($1.16B).

Difference in imports from Paraguay () and Singapore () (2022)

Comparative Advantage Singapore - Paraguay

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

This chart compares trade between Singapore and Paraguay by product, considering products traded by both, Singapore and Paraguay.

During 2022, Singapore had a large net trade with Paraguay in the exports of Mineral Products ($344M), Machines ($11.9M), and Chemical Products ($3.18M).

During 2017, Paraguay had a large net trade with Singapore in the exports of Foodstuffs ($69.7M), Animal Products ($1.94M), and Chemical Products ($1.1M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Singapore Paraguay+$25.5MRefined Petroleum

Top Product Potential Paraguay Singapore+$1.04MFrozen Bovine Meat

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Economic Complexity

Competitive Landscape

Year

This visualization shows the product space at the HS4 level with the flags of Singapore and Paraguay. This means that a dot/product with the flag of Singapore indicates it has a comparative advantage over Paraguay. Similarly, a dot/product with the flag of Paraguay indicates it has a comparative advantage over Singapore.

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Historical Data

Bilateral Trade by Products

Exports from Singapore () to Paraguay () (2022)

Exports from Paraguay () to Singapore () (2022)

Market Competitiveness

Difference in imports from Paraguay () and Singapore () (2022)

Comparative Advantage Singapore - Paraguay

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Singapore () and Paraguay () (2022)

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