Uruguay’s Exports Fall 5% in February, Totaling USD 937 Million

Uruguayan exports dropped 5% in February compared to the same month last year, reaching USD 937 million, according to data released Wednesday by Uruguay XXI. The decline was driven by weaker shipments of pulp, despite strong demand for beef in key markets.

In the first two months of 2025, total exports amounted to USD 1.84 billion, up 1% from the same period in 2024.

Beef remained Uruguay’s top export in February, generating USD 225 million and accounting for 24% of total shipments. Sales surged 20% year-over-year, fueled by rising demand from the United States and the European Union, even as shipments to China declined.

Pulp, the second-largest export, brought in USD 128 million, representing 14% of total sales. However, exports of the commodity plummeted 42% compared to February 2024. Dairy products ranked third, with shipments jumping 39% to USD 72 million.

Brazil was the top destination for Uruguayan goods, absorbing 18% of total exports. China followed with 17%, while the European Union accounted for 14%. The United States took fourth place with 12%, and Argentina rounded out the top five with 4%—equivalent to USD 42 million in shipments.

Uruguayan exports surged 14% in 2024, bolstered by the agricultural sector’s rebound from the previous year’s drought and the full-scale operation of UPM’s second pulp mill. Looking ahead, Uruguay XXI projects a more moderate 2% increase in export values in 2025, bringing the total to an estimated USD 13.2 billion, as stable weather conditions and steady external demand shape trade dynamics.

Source: Subrayado

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