MercoPress. South Atlantic News Agency

Uruguayan exports in January grow 31% annually

China remained the main destination for Uruguayan sales abroad

Uruguay's exports grew 31% in January of 2022 when compared to the same month last year, it was announced Tuesday in Montevideo. Beef topped the list of products sold abroad, reaching US$ 207 million.

Total exports reached US $ 883 million, a yoy increase of 31%, according to an Uruguay XXI report released Tuesday.

In addition to beef, beverage concentrate, electricity, vehicles and meat by-products boosted Uruguay's economy, while rice and cattle sales fell from previous years. Beef's US$207 million, represented a 59% rise compared to the same month in 2021. “Thus, beef exports maintain the growing trend registered in 2021,” Uruguay XXI said.

The main destination for Uruguayan products was China, who bought 70% of the country's exports, a growth of 111% yoy, while Brazil purchased 21%, which represented a 33% progress compared to last year and generated revenues for US $ 138 million.

Meat sales to the European Union also grew, with the bloc now ranked as the second destination, worth US $ 10 million of trade.

Electricity accounted for US $ 40 million, while vehicles added US $ 19 million to Uruguay's coffers.

Meanwhile, rice exports showed a 47% drop when compared to January 2021. In the case of live cattle, sales of US $ 16 million were recorded in the same month last year, against US $ 5 million in 2022.

Sales abroad of dairy products also slumped 3% when compared to the amounts exported in January of 2021, but it nevertheless remained the third most exported item of the month, with US $ 65 million.

Meanwhile, a report by the Union of Exporters of Uruguay (UEU) showed that, without including tax-free zones, January's exports went up 23.1% compared to December 2021.

Pulp was the second most exported product of the month with US $ 87 million in January, which represented an increase of 16% year-on-year.

Fourth place is held by beverage concentrates, which showed a year-on-year increase of 73% -65 million dollars- and became the one with the greatest positive impact in January.

Argentina was Uruguay's fourth destination with US $ 42 million (6% of total exports), while the United States ranked fifth with US $ 39 million.