Export diversification: Paraguay enters eight new markets in July

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Asuncion, IP Agency.- The Investment and Export Network (Rediex), through its Competitive Intelligence Directorate, has reported significant progress in the diversification of markets for Paraguayan products. During the month of July 2024, Paraguay registered the export of eight new products to international markets, which represented a total value of USD 13,269,000.

This expansion marks a milestone in the country’s internationalization strategy, as a “new market” is considered when a specific product is exported for the first time to a particular destination in the last seven years. Among the notable products that found new destinations are frozen beef, rice, ethanol and chopped tobacco.

The details of the exports are as follows:

• Frozen beef to Bermuda worth USD 139,000.
• Rice to British Virgin Islands for USD 69,000.
• Tripas to Albania for USD 54,000.
• Rice to Slovakia for USD 125,000.
• Ethanol to Spain for USD 12,300,000.
• Corn to the Netherlands for USD 53,000.
• Soft drinks to Brazil for USD 429,000.
• Shredded tobacco to Türkiye for USD 100,000.

The export of ethanol to Spain, worth USD 12.3 million, stands out as the most significant transaction of the month, underlining Paraguay’s growing role as a supplier of biofuels to the European market. In addition, the introduction of frozen beef in Bermuda and chopped tobacco in Turkey indicate the success in opening highly competitive markets.

This achievement reinforces Paraguay’s position as a relevant player in global trade, with a diversified and competitive offering that continues to conquer new frontiers.