Uruguay’s Exports Decline by 13% in 2023, Hit by Agricultural Challenges

Uruguay experienced a 13% drop in goods exports last year, totaling $11.518 billion. The decline was primarily attributed to the impact of drought on agricultural yields and reduced demand from China, leading to lower prices in meat exports.

These factors were partially offset by increased exports of cellulose and concentrated beverages from the Colonia Free Zone.

Beef remained the leading export category, totaling $2.081 billion, closely followed by cellulose at $2.019 billion. Dairy products secured the third position with $818 million in exports.

China emerged as the primary destination for exports, accounting for 22% of the total, closely followed by Brazil at 19%, with the European Union contributing 16% to the overall export volume.

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