Uruguay's exports totaled 1,000 in October $1.076 million, thus achieving its seventh consecutive month of growth, according to the latest report from Uruguay XXI. Compared to October 2023, sales abroad increased by 10%, driven mainly by the export of Soybeans, cellulose and vehicles.
The report also shows that, in the year-to-date, exports – including those from free trade zones – have grown by 14%, totalling USD 10.807 million. This progress contrasts with the performance of 2023, when a severe drought negatively impacted agricultural production and, consequently, exports.
Among the most important products, soybeans rank fourth in the ranking of Uruguayan exports. Likewise, the placement of cellulose boosted growth, with 445.928 tons exported, mainly to the European Union and China.
In the meat sector, sales increased by 4% compared to October of the previous year, with the United States and China as the main buyers. In addition, the automotive industry showed an outstanding performance, with exports close to USD 56 million, of which Brazil acquired 93% of the exported units.
Export destinations
That way, Brazil The country consolidated its position as the largest market for Uruguayan exports in October, with sales of USD 226 million, representing 21% of the total exported. This 8% year-on-year increase was driven by exports of vehicles (23% of the total to Brazil) and dairy products (11%). European Union It ranked second, with exports of USD 162 million, 32% more than the previous year, with cellulose being the main exported product.
China fell to third place due to a 20% decrease in its purchases, affected by the drop in demand for beef. Argentina and United States completed the list of the five main export destinations, with significant increases in their purchases of soybeans and beef, respectively.(Foreign Trade Report - October 2024. Uruguay XXI)
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