Latin America & the Caribbean
Opportunities for UK companies
Paraguay
Paraguay has achieved impressive economic growth and shared prosperity over the last 15 years.
As a global leader in production and export of renewable energy, Paraguay is committed to sustainable economic expansion. Total trade in goods and services (exports plus imports) between the UK and Paraguay was £46 million in the four quarters to the end of Q3 2020, a decrease of 45.2% or £38 million from the four quarters to the end of Q3 2019[1].
Market Detail
Paraguay’s main economic activities consist of making the most of its natural resources and expanding their potential, which gives opportunities in implementation of technology for agriculture and commodities. Paraguay’s good management in economic policies support the free market economy. The Paraguayan Government also promotes and offers attractive investment incentives for assembly/distribution operations and the lowest factor costs in the region.
With the largest barge fleet in LATAC, Paraguay is the most frequent user of its waterway, conveniently distributing products throughout Mercosur countries.
UK companies exporting to Panama will find:
- Abundance of young workforce
- Low operational costs
- Competitive tax regime
- No limitation for incoming or outgoing of foreign currency
- Abundant and Low-cost renewable electric energy
- Government support for foreign investment
- Abundance of natural resources
- Growing consumer market
- Political, macroeconomic and social stability
Opportunities in Paraguay for UK companies:
- Agri-tech
- Defense and Security
- Life Sciences
- Maritime
- Food & Drinks
- Technology
- Infrastructure
- Fintech
- Renewable energy
