Wednesday, August 4th 2010 - 01:21 UTC

Uruguay’s exports in seven months increase 23% and reach 3.9 billion USD

Uruguayan exports increased 22.78% during the first seven months of 2010 compared to the same period a year ago, according to Uruguay’s Union of Exporters. Sales totalled 3.9 billion US dollars while in the seven months of 2009, they reached 3.2 billion USD.

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Nueva Palmira has become a crucial port for Uruguayan exports

Imports in the same period totalled 3.65 billion US dollars which represents a 33.2% increase over the first seven months of 2009.

Among the country’s ten leading markets, the Russian Federation emerges with a 100% increase (mainly beef exports) while sales to Portugal soared 365%. Nevertheless Portugal only represents 1.02% of Uruguay total overseas sales.

Brazil remains as the main market for Uruguayan exports with 18.69%, followed by the free zone of Nueva Palmira, 11.91%; Argentina, 7.03%; China, 6.31%, with sales soaring 88% compared to 2009 and Russia with 5.5%. Sales to UK contracted 17.4% in the first seven months of 2010.

Nueva Palmira is a free port which handles much of the country’s grain, pulp and minerals exports, which therefore makes China a far more important trade partner than what figures in the official statistics.

The main export items in US dollars were meats and offal, 19%, followed by soy-bean, 16% and cereals, 9%. Considering physical volume, wood and coal, followed by soybeans were the leading items.

Regarding the main increase in exports over the same period a year ago wood and coal lead with 81%, followed by soy beans, seeds and oil, 79%; automobiles, 79% and rubber goods, 79%.

Uruguay’s exports in July reached 615 million US dollars, 16% higher than a year ago.