MercoPress. South Atlantic News Agency

Uruguay heading for a record export year: 6 billion US dollars

Uruguay's exports increased 59.6% last April compared to the same month a year ago, with the whole expansion for the first four months reaching 44%, according to the latest statistics released by the government funded institution Uruguay XXI.

In April exports reached 564 million US dollars and in the first four months, 1.9 billion US dollars. April's experienced the second highest percentage increase since February 2006 when exports jumped 62.4%. The trade surplus in April was 21 million US dollars. Imports, excluding electricity, increased 52.5% totaling 543 million US dollars. In the last twelve months to April exports reached 5.179 billion US dollars (up 24% over the same period a year ago) while imports totaled 5.988 billion US dollars (up 33.9%). At this annual rate, Uruguay's exports should break a record with six billion US dollars. Brazil remains as the main client for Uruguayan exports which in the January/April period jumped 59%, representing 16.4% of the Uruguay's total overseas sales. Argentina follows with 8.7% of the total exports (up 48.4% in the four months) while the free zone of Nueva Palmira which exports mainly grains in bulk, represented 7.2%. Russia was fourth with 6.6% with a huge 447% jump over the four months of 2007 because of beef exports. However sales to United States dropped 69.6%. Regarding export items, frozen beef shipments increased 55.9% and ranked top of the list of Uruguay's sales in the four months period with 16.2%. Rice, soy beans and wheat together represent almost 15% of Uruguayan exports in the first four months of 2008. Figures referred by the Uruguay XXI institution are in value (US dollars) and not volume.