Paraguay’s Exports Jump 25.7% as Maquila Gains, but Beef Sales Decline

Paraguay exported almost USD 16 billion in the first nine months of 2026, a strong increase driven by soy products and manufacturing under the maquila regime. Yet weaker beef and rice sales show why international investors should look beyond the headline growth rate.

14 October 2026

The Central Bank of Paraguay’s September trade report, published in October, puts cumulative exports at USD 15.97 billion, up 25.7% from the same period of 2025. Imports rose 15.0% to USD 15.26 billion, leaving a trade surplus of USD 712 million.

The composition of exports matters. Registered exports accounted for USD 10.22 billion, or 64% of the total. Re-exports reached USD 3.99 billion, representing another 25%, while the remaining category of other exports contributed USD 1.76 billion. These classifications should not be confused: not every dollar recorded in total exports represents goods manufactured domestically.

Agricultural products remain influential. Reported soybean-grain exports amounted to USD 3.11 billion, alongside USD 591.7 million in soybean oil and USD 565.3 million in soybean meal. Increased shipments in these categories explain much of the rise in registered exports, underscoring the economy’s continued exposure to harvests and commodity markets.

Manufacturing also expanded. Exports under the maquila regime reached USD 1.15 billion, 29% above the comparable 2025 figure. The regime supports production in Paraguay for foreign markets and is increasingly relevant to companies evaluating regional supply chains. Its shipments are part of the reported trade statistics, not an additional amount to be added to total exports.

Performance was not uniform. Exports of beef and bovine offal fell 5.3% in value to USD 1.54 billion, while parboiled rice exports declined 6.6% to USD 262.1 million, according to the Central Bank figures reported by local media.

For foreign investors, rising imports alongside export growth suggest activity in both domestic demand and international supply chains. The trade figures, however, do not by themselves establish improvements in margins, production volumes or competitiveness; price movements can also affect values.

The principal question for the remainder of 2026 is whether Paraguay can maintain manufacturing growth while broadening its export base beyond a small group of agricultural commodities.

Sources