Uruguayan exports reach historical record in 2022

Uruguayan exports of goods grew 16.5% in 2022, with a total of US$13.356 billion, a new all-time record, the Uruguay XXI foreign trade promotion institute reported Tuesday.

The trajectory of the shipments was divided into two periods, in which “between January and August, year-on-year increases were registered in all months and in the last four-month period of the year there were drops in export requests,” according to the official document.

Bovine meat was the main product exported in 2022 with US$2.557 billion traded, which represented almost 20% of the total exported.

In second and third position in the classification of shipments, soybeans appear with US$1.922 billion, more than double the values exported in 2021, while pulp had external sales of US$1.818 billion.

China was once again the main destination for Uruguayan shipments, concentrating 28% of the total with purchases for US$3.625 billion.

The European Union replaced Brazil as the second main market for Uruguayan products, with an incidence of 15%, while the South American giant represented 14% of the total.

China concentrated 58% of Uruguayan beef exports in 2022, with US$1.475 billion, according to Uruguay XXI.

“With a more adverse international context, with commodity prices below the 2022 average and a regional situation of economic slowdown, it is estimated that in 2023 Uruguayan exports of goods will total almost US$13 billion, which would imply a slight reduction of 2% in exported values,” according to the report.

In 2021, Uruguayan exports had registered a record high of US$11.549 billion after an increase of 43%.

With information from Xinhua