Thursday, January 3rd 2013 - 15:46 UTC

Uruguay exports in 2012 reach 8.7bn dollars, a new numerical record

Uruguay exports increased 9% last year over 2011 reaching 8.751 billion dollars a numerical historic record according to the primary figures released by the Instituto Uruguay XXI, a government funded organization to promote foreign trade. Soybeans, beef and rice remain as Uruguay’s main export items.

Soy, beef and rice remain as Uruguay’s main goods exports

The Institute points out that if exports from free trade zones are also included, “the total volume for 2012 jumps to 9.83bn dollars”, which means the free trade zones represent 11% of Uruguay’s total exports.

However the report also points out that the export of goods during December dropped 5.9% compared to the same month in 2011. The December eroding tendency is a repeat of previous months: November (down 4%), September (6%) and April (1%) compared to the same periods of 2011.

Brazil, China, the Nueva Palmira Free Zone and Argentina were the main trade partners of Uruguay last year. Sales to Brazil reached 1.746bn dollars, up 6.4% over 2011. China absorbed 916 million dollars, up 22% over the previous year mainly because of higher soybean prices. This was followed by Nueva Palmira free trade zone and Argentina.

Argentina which usually figures in second or third place as Uruguay’s trade partner, ranked fourth because of the protectionist measures implemented by the administration of President Cristina Fernandez which meant a drop of 14.7% in sales.

Uruguay’s exports in 2011 totalled just over 8bn dollars and in 2010 had reached 6.8bn dollars.
 

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1 ChrisR (#) Jan 03rd, 2013 - 08:19 pm Report abuse
20% increase 2010 - 2011: 8.75% increase 2011 - 2012.

When you consider that in the last 18 months the USD has slid by 20% itself against the UYU Pesos MP are quite correct to put the headline as they have.

It could easily have been worse.

Unless the government starts tackling the problems of fiscal drag that they themselves have caused AND ARE STILL CAUSING the figure for 2012 - 2013 is going to be a real disappointment.

Of course it may be too late given the time lag between actions taken and results obtained that are typically experienced with decisions such as those required here.

I hate to repeat myself but the huge increase in government employees that Pepe has presided over needs to be pulled back and then some.

It would be nice to think that those people transferred to the private sector would be able to increase significantly the nascent 11% contribution from the Freezone.

Bear in mind also the win-win situation when a government employee is transferred to the private sector: they become an ASSET not a DRAG on the economy.
2 British_Kirchnerist (#) Jan 07th, 2013 - 06:46 pm Report abuse
Well done Uruguay =) Totally unnecessary dig at Cristina and Argentina of course, but I suppose that's to be expected here...
3 mastershakejb (#) Jan 10th, 2013 - 07:09 am Report abuse
no one “digs” at Uruguay worse than Argentina/Cristina. worst neighbors EVER

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