Exports of Uruguayan goods increased 13% in the first seven months of the year

Uruguayan goods exports grew by 13% in the first seven months of 2024, driven by sales of pulp and soybeans.

The Competitive Intelligence Department of Uruguay XXI, also known as the Uruguay XXI Institute, published a new Foreign Trade Report revealing that, in July 2024, export requests from Uruguay reached US$ 1.137 billion. This represents a 32% increase compared to July 2023 and marks the fourth consecutive month of growth in the country’s goods exports.

The Uruguay XXI Institute reported that exports, including those from free zones, totaled US$ 7.333 billion, reflecting a 13% year-on-year increase.

Take a look at the chart below to discover the historical progression of Uruguay’s container exports from January 2021 and June 2024. The information comes from Datamar’s top-notch maritime intelligence service DataLiner.

Uruguay Container Exports | Jan 2021 – Jun 2024 | TEUs

Source: DataLiner (click here to request a demo)

The report highlighted that the main driver of growth in exports this month was soybeans, with external sales six times the amount reached in July of the previous year.

This increase is mainly due to the rise in export volume, which was eight times greater, despite a 20% decrease in export prices.

Pulp also showed an outstanding performance, with year-on-year growth of 31% and sales of US$ 194 million, solidifying its position as the country’s main export product.

Regarding destinations, China was the primary market for Uruguayan exports in July 2024, with sales totaling US$ 300 million, driven mainly by soybeans and cellulose.

Brazil maintained second place with purchases of US$ 243 million, highlighting vehicle exports. The European Union ranked third with US$ 162 million in exports, with pulp being the most exported product to this region.

Source: America Economía

Sharing is caring!