Uruguayan exports fall 8% in February, record trade with Brazil

Uruguay’s exports of goods recorded a year-on-year drop of 8 percent last February, totaling US$939 million, including free trade zones, the foreign trade promotion institute Uruguay XXI reported.

“This is explained by the fall in exports of beef, wood and wood products, meat by-products, and rice, which did not offset the significant increase in cellulose and beverage concentrate exports,” the institute assured.

Beef was the main exported product, with US$196 million traded in February, after a 21 percent decrease compared to the same month of 2022 and a 21 percent share in total foreign sales.

Meanwhile, cellulose was the second most sold product, generating revenues of US$ 173 million, 38 percent above February last year and an 18 percent share.

It was followed by dairy products (US$64 million), beverage concentrate (US$59 million), and wood (US$54 million).

Brazil was the main market for Uruguayan products, acquiring US$143 million last February, 25 percent more than in the same month of 2022.

In 2022, Uruguay’s goods exports reached a record of US$13.356 billion after a year-on-year growth of 16.5 percent.

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