The United States and Paraguay Trade and Investment Framework Agreement (TIFA) entered into force in 2021. The TIFA establishes the Council on Trade and Investment as the primary mechanism for bilateral trade and investment issues.
The Council last met in 2024, and issued a Joint Statement.
Other statements related to bilateral work:
- 2023 Joint Statement – Second Meeting of the Council on Trade and Investment
- 2022 Joint Statement – First Meeting of the Council on Trade and Investment
Paraguay Trade Summary
U.S. goods and services trade with Paraguay totaled an estimated $4.2 billion in 2024, up 17.0 percent ($609.6 million) from 2023.
U.S. total goods trade with Paraguay were an estimated $3.5 billion in 2024. U.S. goods exports to Paraguay in 2024 were $3.2 billion, up 15.0 percent ($415.2 million) from 2023. U.S. goods imports from Paraguay in 2024 totaled $355.6 million, up 34.6 percent ($91.4 million) from 2023. The U.S. goods trade surplus with Paraguay was $2.8 billion in 2024, a 12.9 percent increase ($323.8 million) over 2023.
U.S. total services trade (exports plus imports) with Paraguay totaled an estimated $655 million in 2024. U.S. services exports to Paraguay in 2024 were $362 million, up 34.6 percent ($93 million) from 2023. U.S. services imports from Paraguay in 2024 were $303 million, up 3.4 percent ($10 million) from 2023. The U.S. services trade surplus with Paraguay was $59 million in 2024, a 345.8 percent increase ($83 million) from a services trade deficit of $24 million in 2023.
