According to official data from the Uruguayan Chamber of Information Technology (CUTI), this represented 4.4% of Uruguay's GDP.
As has been happening in recent years, Uruguay's technology sector grew both in exports and in sales in the domestic market.
According to official data from the Uruguayan Chamber of Information Technology (CUTI), in 2023, the turnover of this sector totaled US$ 3,381 million, reaching 4.4% of the Gross Domestic Product (GDP) of the Uruguayan country.
Technology exports reached US$ 2.168 billion in 2023, a year-on-year growth (compared to the previous year) of 19%. This involved both exports and sales made by subsidiaries of Uruguayan companies abroad.
The union also pointed out that of the total number of Uruguayan companies dedicated to offering services and products related to information and communication technologies (ICTs), 76% reported sales to clients outside the country, "which shows the growing importance of the external market for the sector."
When analyzing export markets, the United States was once again the leader, positioning itself as the main destination for the sector's external sales, accounting for more than 80% of the total.
Approximately 40% of the companies in the sector registered exports to this country. The second export destination was the United Kingdom, representing 8% of total sales abroad.
Spain, France and Mexico also entered the top 10 destinations last year.
Regarding the local market, sales surveyed by CUTI indicated a turnover of US$ 1,213 million, which implied an increase of 19% compared to the 2022 figure.
"During 2023, the majority of companies (57%) in the universe recorded an annual turnover of more than US$ 1 million. In particular, companies with annual turnover equal to or greater than US$ 5 million accounted for 92% of the sector's total sales," the CUTI report indicated.
Another 24% had an annual turnover of US$5 million or more, and 34% had a turnover of between US$1 million and US$5 million, while the rest of the companies had a turnover of less than US$1 million.
In relation to the domestic market, 76% of sales were destined for the private business sector, including financial institutions.
Of these total sales, almost 60% were to large companies and the remaining 40% to micro, small and medium-sized enterprises (MSMEs).
Meanwhile, 12% of domestic sales were destined for public companies, 7% were sales marketed to the national government and around 1% were sales to subnational governments and households.
WHAT HAPPENED TO EMPLOYMENT IN THE TECHNOLOGICAL SECTOR IN URUGUAY
In terms of employment, the annual CUTI survey (made up of a target universe of 262 member companies of the union) found that in 2023 there was a record level of employment with 20,375 jobs.
According to official data, this figure represented an increase of 500 jobs compared to the 2022 figure. However, they reported that female participation in the sector decreased, from 35% to 33% of the total.
