So far in 2024, compared to the same period in 2023, soybean revenues in the Uruguayan country have grown significantly, there has been a significant increase in cellulose, and in the case of beef, the figures are similar, according to the Uruguay XXI Institute.
Considering the export goods that generate the most income in Uruguay, the podium led by cellulose and complemented by beef and soybeans has new readings, based on the monthly report on foreign trade prepared by the professionals of Uruguay XXI.
So far in 2024, compared to the same period in 2023, soybean revenues have grown significantly, there has been a significant increase in cellulose, and in the case of beef, the figures are similar.
TWO STRONG INCREASES AND A STABLE INDUSTRY
After nine months, cellulose exports (including free trade zones) amounted to US$ 1,888 million, 36% more than in the same period in 2023.
In the case of beef, US$ 1,477 million was exported, a similar amount to that from January to September 2023.
Soybeans are in third place, with US$1.048 billion and the highest growth among the products on the podium: 172% more than in the first nine months of last year.
The three sectors together account for 45% of total revenues, which have reached US$9.732 billion so far this year: 19% corresponds to cellulose, 15% to beef, and 11% to soybeans.
WHAT'S HAPPENING IN THE REST OF THE TOP 10?
- Beverage concentrate, US$ 615 million, +11% and 6%.
- Dairy products, US$ 578 million, -5% and 6%.
- Rice, US$ 424 million, -7% and 4%.
- Vehicles, US$ 337 million, +18% and 3%.
- Meat by-products, US$ 327 million, 0% and 3%.
- Wood and wood products, US$ 326 million, -4% and 3%.
- Wheat, US$ 278 million, +76% and 3%.
Note: Accumulated revenue in 2024, variation compared to 2023 and share in total revenue.
WHAT HAPPENED IN SEPTEMBER
During September 2024, the podium has changed: US$ 260 million came in for cellulose, US$ 164 million for soybeans, and US$ 162 million for beef.
In the ninth month of the year, compared to September 2023, the turnover for cellulose exports increased by 36%, that of soybeans grew by 89% and that of beef decreased by 1%.
Finally, looking at the impact of each item on total monthly export revenues, cellulose accounts for 22%, soybeans for 14% and beef also for 14%.
CHINA LEADS AMONG THE MARKETS
China, with US$ 2,482 million accumulated in the period January-September and a 26% share of the total (US$ 9,732 million), led among the destinations generating foreign currency, with a growth of 36% in relation to the amount for that period in 2023.
Brazil follows with US$1.797 billion, a share of 18% and growth of 9%.
In third place is the European Union, with US$ 1.38 billion, 14% share and a decrease in this case of 7%.
Fourth place is occupied by the United States, with US$862 million, 9% share and 37% growth.
In fifth place is Argentina, with US$ 413 million, 4% share and a decline of 7%.
THE CONTEXT THAT URUGUAY XXI OBSERVED
In September 2024, export applications, including free trade zones, reached US$1.182 billion, marking a year-on-year increase of 13.6%.
This growth was mainly driven by soybean and cellulose exports. Meat exports had a slight negative impact on total exports.
In the year to date, exports of goods, including free trade zones, totaled US$ 9.732 billion, registering a year-on-year increase of 14.6%.
