Uruguay exports grew up to 16% in FY 2022

 Uruguay is a progressing economy. Uruguay exports have propelled over the years. According to the Uruguay customs data reports, the exports were only $9.5 billion during FY 2021. Whereas, during FY 2022, the exports were recorded to be $12 billion with over 16% increase as compared to previous year.  This is the highest value of exports ever reached by Uruguay.

Uruguay’s majority of the exports were to China. As per Uruguay import export data, China has imported over 2.5 billion dollars worth of goods from Uruguay having over 20% share in the country’s overall exports. Bovine meat was the most demanded item from Uruguay in the Chinese market. It had over 40% share in Uruguay's overall exports during FY 2022. 

Soybean was the second most imported goods by China from Uruguay. Uruguay export data shows that over $478 million worth of soybeans were imported in China. Chemical woodpulp, edible offal, goat meat, fuel wood, wool, precious stones were other major imports made by China.

On the other hand, the maximum amount of shipments were made to European Union countries. EU had over 15% share in Uruguay's overall exports. Wood Pulp, paperboard were the most shipped products to the EU with over 50% share in Uruguay's overall exports. 

Whereas animal products were the second most imported product by EU with over 22% share followed by vegetable goods (7.5%) and wood.(4.2%). Brazil was the third leading destination for Uruguay's exports followed by Argentina, the United States, Netherlands, Chile, Paraguay and Mexico.

Uruguay’s top performing exports products include meat, oil seeds, wood articles, dairy products, cereals, animal, vegetable oils, pharma products. Conaprote Cooperatova Nacional De Productores De Leche, Cargill SA, Frigorifico Tacuarembo, and Frigorifico Las Piedras SA were the top Uruguay export companies in terms of maximum shipments.

On the other hand, Uruguay imports during FY 2022 were recorded  to be $12 billion. Brazil was the top exporter to Uruguay having over 20% share in Uruguay's overall imports. Around $2.6 billion worth of goods from Brazil were imported by Uruguay. Brazil’s top exports include cars, trucks, bovine meat, pork and iron structures. China was the second leading market for Uruguay's imports. China export data shows that the key imports of Uruguay are electronics equipment, chemicals, pesticides, computers, trucks. The overall imports of Uruguay from China totaled to be $2.4 billion this year.

The United States was the third biggest exporter to Uruguay with over $2 billion exports that year. Argentina, Nigeria, Germany, India, Spain, Mexico, and France were other major exporters to Uruguay. Uruguay import data shows that the country's key imports include mineral fuels, motor cars, electrical equipment, fertilisers and medicaments are the most imported products from Uruguay.

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