Paraguay: Market for Articles Of Iron Or Steel 2024

Market Size for Articles Of Iron Or Steel in Paraguay

In 2022, the Paraguayan steel and iron articles market increased by 14% to $X, rising for the second year in a row after three years of decline. In general, consumption, however, showed a slight descent. Steel and iron articles consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Exports of Articles Of Iron Or Steel

Exports from Paraguay

In 2022, shipments abroad of articles of iron or steel increased by 265% to X tons, rising for the second consecutive year after two years of decline. Overall, exports continue to indicate resilient growth. Over the period under review, the exports reached the maximum at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, steel and iron articles exports surged to $X in 2022. In general, exports continue to indicate a prominent expansion. The pace of growth was the most pronounced in 2021 with an increase of 249% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Guyana (X tons) was the main destination for steel and iron articles exports from Paraguay, accounting for a 92% share of total exports. It was followed by the United States (X tons), with a 2% share of total exports. Uruguay (X tons) ranked third in terms of total exports with a 1.8% share.

From 2012 to 2022, the average annual growth rate of volume to Guyana was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-9.9% per year) and Uruguay (+43.4% per year).

In value terms, Guyana ($X) emerged as the key foreign market for articles of iron or steel exports from Paraguay, comprising 83% of total exports. The second position in the ranking was taken by Uruguay ($X), with a 5.1% share of total exports. It was followed by Brazil, with a 2.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Guyana was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Uruguay (+56.2% per year) and Brazil (-30.6% per year).

Export Prices by Country

The average steel and iron articles export price stood at $X per ton in 2022, which is down by -22.9% against the previous year. In general, the export price, however, saw mild growth. The growth pace was the most rapid in 2016 an increase of 223%. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Uruguay ($X per ton), while the average price for exports to the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Uruguay (+9.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Articles Of Iron Or Steel

Imports into Paraguay

In 2022, after three years of decline, there was significant growth in purchases abroad of articles of iron or steel, when their volume increased by 21% to X tons. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of 29% against the previous year. As a result, imports attained the peak of X tons. From 2016 to 2022, the growth of imports remained at a lower figure.

In value terms, steel and iron articles imports surged to $X in 2022. Over the period under review, imports, however, saw a slight contraction. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Brazil (X tons) and Argentina (X tons) were the main suppliers of steel and iron articles imports to Paraguay, together comprising 87% of total imports. Chile, the United States and India lagged somewhat behind, together comprising a further 7.1%.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +19.6%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest steel and iron articles suppliers to Paraguay were Brazil ($X), China ($X) and Argentina ($X), together comprising 75% of total imports. The United States, Chile and India lagged somewhat behind, together comprising a further 7.2%.

India, with a CAGR of +19.3%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average steel and iron articles import price amounted to $X per ton, remaining stable against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 an increase of 24%. Over the period under review, average import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Chile ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+3.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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