MercoPress. South Atlantic News Agency

Paraguayan exports grow 24% driven by agriculture

Ostfield congratulated Paraguayan meat producers for being accepted into the US market

In the first eleven months of 2023, Paraguayan exports amounted to US$ 15.8787 billion, which represented a 24% interannual growth, it was reported in Asunción. The improvement was significantly explained by higher shipments of soybeans, rice, and soybean meal, which accounted for 69.3% of the sales abroad, reaching US$ 11,001.6 million, a 19.1% increase from November 2022.

In addition, re-exports grossed US$ 3.9048 billion (24.6% of the total) for an accumulated growth of 36.6%. All in all, Paraguay's foreign trade yielded a surplus of US$ 1,623 million as of November as imports reached US$ 14.2557 billion, an increase of 2.6% over the same period the previous year.

These results are expected to improve in the coming months after the United States made official Thursday the entry of Paraguayan meat to its market with 9 meat packing plants certified in the South American country, the US Food Safety and Inspection Service announced. However, the agency also explained that Paraguayan industrialized meat and other derivatives -fresh or frozen- were to be welcomed, albeit under certain conditions.

It was determined that Paraguayan fresh meat complied with the safety conditions, despite which measures will be taken to prevent the introduction of food that may pose a health risk to US citizens, it was explained.

“Officially, as of today, Paraguayan beef is authorized to enter the U.S.A. Congratulations, Paraguay,” US Ambassador to Asunción Marc Ostfield posted on X while attaching the link to a communiqué issued by the Department of Agriculture.