The products most sold abroad were beef, cellulose and dairy products.
Uruguayan exports of goods fell in the second month of the year after having increased in January.
The main products exported abroad were beef, cellulose and dairy products. Foreign trade is expected to close the year with a limited expansion.
Sales abroad – including those in free trade zones – amounted to US$ 937 million in the second month of the year, with a year-on-year drop of 5%, the Uruguay XXI Institute reported on Wednesday.
With this record, exports completed an increase of 1% in the first two months of the year.
Beef was the main product sold with US$ 225 million, with a positive variation of 20% and practically a quarter of the total.
The dynamism was explained by a greater demand from the United States and the European Union (EU), despite the 21% drop in purchases from China.
Pulp was in second place with US$128 million, down 42% year-on-year. China remained the top destination with US$69 million.
Next came the EU with US$43 million, a sharp decrease of 60% compared to February 2024. In addition, Brazil joined the list of buyers with operations worth US$9.1 million.
Third place went to dairy products with US$ 72 million and a year-on-year growth of 39%. Algeria was the main destination with US$ 25 million and almost 34% of the total. Brazil, the United States and Chile were also exporters in the month. The main exported product was whole milk powder.
EXPORT DESTINATIONS
The official report indicated that Brazil was the main destination for Uruguayan exports with US$ 164 million, although with a year-on-year drop of 2%.
Vehicles led the ranking with US$22 million, followed by dairy products and plastics and their manufactures.
China came in second with US$161 million and a 22% annual decrease. Uruguay XXI said the decline was due to a 20% reduction in exports of cellulose, which was the main export product with US$69 million. There were also sales of beef, meat by-products, wool and textiles.
The EU was the third largest buyer with US$ 134 million, with a year-on-year drop of 35%, mainly due to the 59% drop in purchases of cellulose. There were also exports of beef, rapeseed and meat by-products.
PERSPECTIVES
The Uruguay XXI Institute mentioned that by 2025, in a context of climate stability and stable external demand, a consolidation of goods exports is expected, with a growth of around 2%, to reach approximately US$ 13.2 billion.
The document stated that unlike in 2024, when temporary factors such as agricultural recovery after the drought boosted foreign trade, in 2025 export performance will be determined by stability in the agro-industrial and forestry sectors.
In this context, the recent escalation of global trade tensions, with the imposition of new tariffs and retaliatory measures among major economies, has added a major factor of uncertainty to international trade.
According to the organization, this complicates estimates for exports in 2025, as it can generate both opportunities and risks for commodity markets.
On the other hand, the reconfiguration of trade flows could benefit certain exporters by redirecting demand to new suppliers.
Another aspect is that price volatility and the possible reduction in demand in key markets can negatively affect exports.
The text recalled that cellulose was consolidated last year as the main product sold. This situation will be repeated this year with sales estimated at US$ 2.75 billion, above the US$ 2.545 billion in 2024 and with an increase of 8%.
