OVERVIEW

Uruguay is a South American country known for its democratic values, social progress and peaceful atmosphere.

The nation often stands out for its renewable energy policies, digital development and inclusive society, with a strong cultural identity centered in its capital, Montevideo.

In 2023, Uruguay ranked

  • 81st in terms of GDP, currently valued as $77.2B, out of 195 economies in the world;
  • 103rd in terms of total exports out of 226 countries;
  • 54th in terms of GDP per capita, valued with current US$, out of 196 economies in the world.

ECONOMIC COMPLEXITY RANKING

EXPORT

In 2023 it was estimated that the principal products that were exported from Uruguay were

  • Sulfate Chemical Woodpulp - $2.11B;
  • Frozen Bovine Meat - $1.61B;
  • Rice - $621M;
  • Concentrated Milk - $607M;
  • Bovine Meat - $435M.

On the other hand, the commonest destinations for Uruguay exports were

  • China - $2.34B;
  • Brazil - $1.92B;
  • United States - $880M;
  • Argentina - $569M;
  • Netherlands - $568M.

IMPORT

In 2023 the most imported products from other countries to Uruguay were

  • Crude Petroleum - $1.07B;
  • Refined Petroleum - $839M;
  • Cars - $550M;
  • Delivery Trucks - $418M;
  • Broadcasting Equipment - $330M.

These goods are mainly produced by

  • Brazil - $3.03B;
  • China - $2.49B;
  • Argentina - $1.5B;
  • United States - $1.23B;
  • Nigeria - $534M.

Lastly, in the latest year it was revealed that the country was the world’s largest importer of Mate, with an estimated amount of $65M.

YEARLY TRADE

During the past five years, the exports of Uruguay have increased by $1.45B from $9.52B in 2018 to $11B in 2023.

The most recent exports are led by

  • Sulfate Chemical Woodpulp - $2.11B;
  • Frozen Bovine Meat - $1.6B;
  • Rice - $642M;
  • Concentrated Milk - $608M;
  • Bovine Meat - $427M.

They were exported primarily to

  • China - $2.35B;
  • Brazil - $1.89B;
  • United States - $880M;
  • Argentina - $577M;
  • Netherlands - $571M.

CONCLUSIONS

Despite environmental and economic pressures, Uruguay has shown how a small country can face global challenges with balance and resilience, continuing to prioritize social equity, sustainability, and innovation.

Source: https://oec.world/en

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