The ultimate guide to unlocking eCommerce growth in Paraguay
Gain insights on eCommerce in Paraguay: Market size, growth, payment preferences, regulatory development, and more.
Paraguay’s eCommerce market
Uniquely, in contrast to other regions in Latin America, the start of the COVID-19 pandemic caused Paraguay’s eCommerce market to shrink; falling from US$219 million in 2017 to US$211 million in 2020.
This was, in part, largely due to the inland country being mostly reliant on cross-border eCommerce transactions, which were interrupted by the pandemic. Despite the negative growth, however, Paraguay has a projected eCommerce growth of 60% for 2021.
Local payment habits in Paraguay
Paraguay has low banking and credit penetrations but 73% of working people are under the age of 34, which means that the country is poised to adopt eCommerce methods and digital payment technologies in a matter of years.