The Uruguay’s foreign trade Its trajectory continues to boost its growth, after the strong impact it experienced last year from covid-19 pandemic. Proof of this is that so far this year (January-September), foreign sales totaled $7,903 million, which is a 35% increase over the same period of the previous year. During this period, overseas sales with the highest positive impact were beef, electric, cellulose, wood and meat by-products and beverage center.
As reported yesterday by the Investment Promotion Agency, Uruguay Twenty-firstDuring the month of September, total export orders – including free zones – totaled US$1,085 million, which is a 46% increase over the same month last year.
“The increase in exports of beef, cellulose, wood, electricity, concentrated drinks and meat by-products are the commodities with the highest positive effect that explains the monthly variance. Exports of barley, wool fat, wool, fabrics, live cattle and leather, among others,” indicated Uruguay 21.
When analyzing what happened to exports – without including what comes out of free zones – overseas sales rose 32.2% year-on-year in September, according to data from Uruguay Exporters Association (UEU).
“In September, orders totaled $887.5 million and accumulated $6,716 million in the first nine months of the year, which is a 32% increase over the same period in 2020,” the union’s report cited the source.
The Asian giant was once again the top export destination for the month, accounting for 35% of the total. The sales to china It achieved a 99% expansion in September (compared to the same month last year) and reached $292 million. In the cumulative year, sales to this destination increased by 64% to reach US$1,851 million.
Brazil was the second export destination Uruguay products. Sales to the neighboring country amounted to US$158 million, which was 19% of the total exports for the month.
The third destination was the European Union. In this case, exports to the European bloc amounted to $78 million in September, up 9%. It is followed by Argentina ($43 million) and the United States ($42 million).
They expect a 31% increase in 2021
According to Uruguay’s XXI forecast, exports “will achieve an estimated growth of approximately 31% in 2021 and will have a total volume of about 10,500 million US dollars”. This would mean “not only a rebound in terms of pre-pandemic values,” the agency said, but would be “an all-time high.”