Uruguayan exports expanded over 20% in value during the first ten months of the year with Brazil consolidating as the country’s main trade partner, according to a report from Uruguay’s Exporters Union.
Exports requests totalled 5.5 billion US dollars between January and October 2010, which is 21.76% higher than the same period a year ago when sales reached 4.54 billion USD. Taking October, exports totalled 554 million USD which is 15% higher than the same month in 2009.
Brazil has become Uruguay’s main trade partner absorbing 20.6% of all exports. The second destination is the Free Trade Zone of Nueva Palmira with 12% and Argentina, 7.4%. China follows with 5.8%; Russia, 5.19%, which means the five leading buyers of Uruguayan goods total 50.22% of the country’s total exports.
Among the top 20 export markets in the ten month period, sales to Portugal soared 369%; Turkey, 125%, while increases to China, Russia, Germany and Paraguay were up 50%. The only countries that experienced a setback were Mexico (down 2.59%); Holland (1%) and United Kingdom down 24.49%.
By geographic areas Mercosur, Chile and Venezuela represented 36% of total exports; Nafta (US, Canada and México) 5.9%; European Union 15% and the rest of the world, 29%.
Uruguay’s main export item in US dollars was again beef with 17.73% of total sales. This is followed by soybeans, 12.82%; grains, dairy products and wood and coal.