Asunción, Agencia IP.- More than 70 new markets conquered, increased investments, and export diversification reflect the impact of the authorities’ efforts in the international arena, leaving positive results for the national economy.
The efforts deployed by the Government of Paraguay in international trade missions during 2024 have yielded significant results, positioning the country as a key player in global trade and an attractive destination for foreign investments.
The Central Bank of Paraguay (BCP) reported that foreign direct investment reached USD 9,966.6 million at the end of the third quarter of 2024, marking an increase of 4.1% compared to the same period in 2023.
In addition, countries such as Brazil, Uruguay, and Spain significantly increased their participation, with additional investments of USD 191 million, USD 97 million, and USD 75 million, respectively, in 2023. These figures are the direct result of strategic meetings led by government authorities.
The opening of new markets was also key for last year, as Paraguay gained access to 72 international destinations, including countries such as Kenya, where it managed to export USD 2.2 million; followed by Hungary, with USD 453,000; Cambodia, with USD 259,000, and Laos, where products worth USD 95,000 were sent.
Furthermore, this expansion was complemented by the diversification of exported products, highlighting intermediate iron or steel products that reached USD 2,048,000. In contrast, methylated oil reached USD 1,167,000, among others.
Trade relations
The Ministry of Industry and Commerce highlights that trade missions were also fundamental to strengthening bilateral relations and positioning the country in strategic markets in Southeast Asia, Northern Europe, and the Middle East.
The authorities’ participation in international fairs and economic forums not only promoted the «Country Brand» but also secured investments and opened doors for key exports of agricultural products, biofuels, and manufactures.
It is worth noting that this positive momentum for the national economy will also be seen in 2025 since the International Monetary Fund (IMF) and the BCP project GDP growth of 3.8%, with a total investment estimated, according to economic analysts, of up to USD 11,260 million, consolidating the positive impact of the efforts made during 2024.