MercoPress. South Atlantic News Agency

Uruguay's trade deficit in 7 months reaches 1.2 b USD

Uruguay reported a trade surplus of 68.3 million US dollars after having accumulated 1.2 billion US dollars deficit in the first seven months of 2008, according to the country's Central Bank.

The August surplus did not include oil and gas purchases of which Uruguay is totally dependent and compares favorably with August 2007 when the trade deficit was 73.1 million US dollars including 66 million for the oil bill. August 2008 exports reached 648.2 million US dollars and imports, 579.8 million having increased 22.5%. In the first seven months of 2007 trade deficit was 230 million USD. Imports in the first half of this year soared 78.9% totaling 4.8 billion US dollars. Exports on the other hand increased 46.6% to 3.6 billion US dollars with meat exports as the first item, 980 million US dollars followed by agriculture, 489.3 USD. Uruguayan exports to Mercosur associates, Argentina, Brazil, Paraguay and Venezuela increased 42.3% reaching 907 million USD. Brazil proved to be the main Mercosur client for Uruguayan goods, 552.9 million USD, up 50.6%. Uruguay's total trade deficit in 2007 reached 765 million US dollars, up 42.2% USD. Uruguay's economy has been growing for the sixth year running and in undergoing a consumer boom.