Flag Italy / Uruguay Flag

Exports FlagFlag  (2018): $251M, Rnk 96 / 213

Top Product FlagFlag (2018): $73.1M, Packaged Medicaments

Exports FlagFlag (2018): $324M, Rnk 8 / 157

Top Product FlagFlag (2018): $242M, Sulfate Chemical Woodpulp

Economic Complexity of Flag (2018): ECI 1.31, Rnk 18 / 137

Economic Complexity of Flag (2018): ECI 0.17, Rnk 58 / 137

Italy-Uruguay: In 2018, Italy exported $251M to Uruguay. The main products exported from Italy to Uruguay were Packaged Medicaments ($73.1M), Blood, antisera, vaccines, toxins and cultures ($10.3M), and Rubberworking Machinery ($8.85M). During the last 23 years the exports of Italy to Uruguay have increased at an annualized rate of 1.58%, from $175M in 1995 to $251M in 2018. In 2016, Italy exported services to Uruguay worth $31M, with Travel ($23.4M), Transportation ($2.99M), and Other business services ($2.88M) being the largest in terms of value.

Uruguay-Italy: In 2018, Uruguay exported $324M to Italy. The main products exported from Uruguay to Italy were Sulfate Chemical Woodpulp ($242M), Frozen Bovine Meat ($28.7M), and Bovine Meat ($11.4M). During the last 23 years the exports of Uruguay to Italy have increased at an annualized rate of 6.36%, from $78.5M in 1995 to $324M in 2018.

Comparison: In 2018, Italy ranked 18 in the Economic Complexity Index (ECI 1.31), and 8 in total exports ($540B). That same year, Uruguay ranked 58 in the Economic Complexity Index (ECI 0.17), and 92 in total exports ($8.96B). N/A

Bilateral Trade by Products

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Depth
Value

In 2018, Italy exported $251M to Uruguay. The main products exported from Italy to Uruguay were Packaged Medicaments ($73.1M), Blood, antisera, vaccines, toxins and cultures ($10.3M), and Rubberworking Machinery ($8.85M). During the last 23 years the exports of Italy to Uruguay have increased at an annualized rate of 1.58%, from $175M in 1995 to $251M in 2018.

In 2018, Uruguay exported $324M to Italy. The main products exported from Uruguay to Italy were Sulfate Chemical Woodpulp ($242M), Frozen Bovine Meat ($28.7M), and Bovine Meat ($11.4M). During the last 23 years the exports of Uruguay to Italy have increased at an annualized rate of 6.36%, from $78.5M in 1995 to $324M in 2018.

Market Competitiveness

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Measure

Italy
Top Destination
: Germany, $67.8B

Uruguay
Top Destination
: China, $2.04B

This map shows whether countries import more from Italy or Uruguay. Each country is colored based on the difference in imports they receive from Italy and Uruguay or the difference in the growth in imports.

In 2018, countries that imported more from Italy than Uruguay were Germany ($67.8B), France ($56.4B), and United States ($50.6B).

In 2018, countries that imported more from Uruguay than Italy were Paraguay ($147M), Sierra Leone ($14.2M), and Saint Helena ($27.9k).

Comparative Advantage Italy - Uruguay

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Depth

This chart compares trade between Italy and Uruguay by product, considering products traded by both, Italy and Uruguay.

During 2018, Italy had a large net trade with Uruguay in the exports of Chemical Products ($102M), Machines ($73.9M), and Foodstuffs ($11.7M).

During 2018, Uruguay had a large net trade with Italy in the exports of Paper Goods ($242M), Animal Products ($49.5M), and Textiles ($20M).

Tariff Section

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This sections shows import tariffs for products traded between Italy and Uruguay (using the HS6 product classification and the last year reported).

In 2017, the products from Italy that paid the highest import tariffs to enter Uruguay were Sugar beet (178%) and Whey (173%).

In 2018, the products from Uruguay that paid the highest import tariffs to enter Italy were Refined sugar, in solid form, flavoured or coloured (35%) and Refined sugar, in solid form, nes, pure sucrose (35%).

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*The tariffs present between Italy and Uruguay are:
122: EU preferential tariff for sugar producing countries
136: Most Favoured Nation duty rate treatement

Trade Forecasts

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This section shows a forecast for total trade between Italy and Uruguay. The forecast is based on a long short-term memory model or LSTM constructed using yearly trade data.

To create custom forecast, or modify the parameters of the forecasting model, visit our Forecast Section.

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Bilateral Service Trade

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In 2016, Italy exported services to Uruguay worth $31M, with Travel ($23.4M), Transportation ($2.99M), and Other business services ($2.88M) being the largest in terms of value.

Service trade data is presented based on availability.

Economic Complexity

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Competitive Landscape

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This visualization show the product space at the HS4 level colored from blue to red.  This mean that the more blue a dot/product is, the more Italy has comparative advantage over Uruguay. Similarly, the more red a dot/product is, the more Uruguay has comparative advantage over Italy.