Uruguayan exports maintain strong dynamism, growing 31% in January

RIO DE JANEIRO, BRAZIL – Requests for exports of goods in January -including free trade zones- totaled US$883 million, which implied a 31% growth in year-on-year terms, reported Uruguay XXI. In 2021, foreign sales reached a record US$11.6 billion after expanding 43% in the year-on-year comparison, so the dynamism of foreign trade was maintained at the beginning of this year.

Exports of beverage concentrate, beef, electric power, vehicles, and meat by-products were the products with the highest positive impact that explained the monthly variation in the first month of 2022. Meanwhile, dairy products, live cattle, and rice had a negative impact in January.

Beef was once again the main export item at the beginning of the year, totaling US$207 million in January, which reflects an increase of 59% in the year-on-year comparison. Thus, according to Uruguay XXI, foreign beef sales continue the growing trend recorded in 2021.

China once again became the primary and fastest-growing market for Uruguayan beef. The Asian giant had a 70% share of external beef sales, some US$150 million, which meant a variation of 111% compared to the same month of 2021.

Meanwhile, cellulose exports reached US$87 million in January and ranked second in the month. The amount exported had a year-on-year increase of 16%, which is explained by prices that continue to be high in the year-on-year comparison (47%).

Exports of dairy products -third in the ranking of exports for the month- fell slightly in the year-on-year comparison (-3%), totaling US$ 65 million.

ENERGY SALES REMAINED DYNAMIC

According to the records of the National Customs Directorate (DNA), the export of electric energy reached US$50 million in January 2022, an amount that doubles what was exported in January 2021 when sales reached US$24 million. Brazil was the main destination with 80% of total exports. The remaining 20% was exported to Argentina.

When analyzing exports by destination, China was Uruguay’s main export market with US$216 million – 65% higher than January 2021 – representing 32% of Uruguayan exports in January.

Meanwhile, Brazil -second destination- obtained a share of 21%. Sales to this market showed an increase of 33% year on year, reaching US$138 million. Vehicle exports stood out, totaling US$19 million last month. The European Union ranked third in the ranking of destinations for the month, reaching US$46 million, which implied an increase of 22% compared to January 2021, according to Uruguay XXI.

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