Exports in August, including free trade zones, totaled 858 million dollars, which implies an increase of 1,5% compared to the same month last year, according to the Monthly Foreign Trade Report published by Uruguay XXI.
"This is mainly explained by soybean exports and, to a lesser extent, by rice and beef.", the document highlights, adding that, on the other hand, "livestock, wood, malt, cellulose and wool had a negative impact."
In the first eight months of the year, foreign sales totaled 6.212 billion dollars, 2% more than in the same period of 2018. “Soybeans, beef and wheat were the products with the greatest positive impact. While cattle on the hoof, wood and leather were the products with the greatest negative impact” in this period, according to Uruguay XXI.
In August, soybean sales abroad totaled 139 million dollars, “The amount is almost three times larger than in August 2018,” which is explained by the increase in exports to China, which rose from $26 million to $35 million, compared to August last year.
New markets for soybeans also emerged, such as Tunisia (11 million dollars), Holland (91 million), Germany (2018 million) and Egypt (39 million). Meanwhile, sales of cattle on the hoof decreased by 43%, because in August no shipments were made to Turkey, a country that in August XNUMX bought XNUMX million dollars of cattle on the hoof, of the XNUMX million dollars of the product sold during the month.
Uruguay XXI highlights that rice was the fifth most exported product in August, with 49 million dollars, increasing 85% year-on-year. This is due to “a higher amount exported to Mexico and Venezuela, destinations that went from buying 6 million dollars and 250 thousand dollars in August 2018 to 12 and 7 million dollars respectively in August 2019.”
Destinations
China continues to be Uruguay's main trading partner, totaling 168 million dollars (22%) in August. “The amount exported increased 31% year-on-year due to the 60% increase in sales of frozen beef, which rose from 60 million dollars to 96 million, and 35% in soybeans, which rose from 26 million dollars to 35 million in the year-on-year comparison,” the report states.
Second is found Brazil with "a total of US$ 87 million and a share of 11% of the total exported. Sales to this destination experienced a 20% year-on-year decrease," the report highlights.
On the other hand, "external sales to the European Union totaled US$ 86 million, a similar amount to that of August 2018," the document analyzes.
Followed by the European Union is United States, a destination that experienced a 24% decrease in the year-on-year comparison. "This is largely due to the drop in sales of frozen beef (37%), the main export product to the US."
Argentina It ranked fifth in the ranking of export destinations, with sales totaling US$ 26 million, "implying a 35% decrease compared to the same month in 2018, following the downward trend in sales to this destination," the report concludes.
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