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2023
Flag → Flag
Exports $201MRnk 104 / 219
2023
Flag → Flag
Top Product $6.05MRefrigerators
2023
Flag → Flag
Exports $468MRnk 6 / 166
2023
Flag → Flag
Top Product $312MSulfate Chemical Woodpulp
2023
Flag
Economic Complexity (ECI) ECI 1.29Rnk 18 / 132
2023
Flag
Economic Complexity (ECI) ECI 0.22Rnk 52 / 132
2023
Flag  
GDP$2.3TCURRENT US$
Rnk 8 / 195
2013-2023
Flag
GDP GROWTH6.86%CURRENT US$
Rnk 165 / 195
2023
Flag
 GDP$77.2BCURRENT US$
Rnk 81 / 195
2013-2023
Flag
GDP GROWTH25.9%CURRENT US$
Rnk 122 / 195
2023
Flag
GDP PC $39,003CURRENT US$
Rnk 32 / 195
2013-2023
Flag
GDP PC GROWTH9.11%CURRENT US$
Rnk 136 / 195
2023
Flag
GDP PC$22,798CURRENT US$
Rnk 54 / 196
2013-2023
Flag
GDP PC GROWTH24.3%CURRENT US$
Rnk 90 / 195

About

Italy-Uruguay Trade: In 2023, Italy exported $201M to Uruguay. The main products that Italy exported to Uruguay were Refrigerators ($6.05M), Machinery Having Individual Functions ($5.36M), and Packaged Medicaments ($5.26M). Over the past 5 years the exports of Italy to Uruguay have increased at an annualized rate of 2.97%, from $174M in 2018 to $201M in 2023.

In 2020, Italy exported services to Uruguay worth $12.2M, with Travel ($5.94M), Other business services ($3.08M), and Transportation ($1.6M) being the largest in terms of value.

Uruguay-Italy Trade: In 2023, Uruguay exported $468M to Italy. The main products that Uruguay exported to Italy were Sulfate Chemical Woodpulp ($312M), Soybeans ($52.6M), and Frozen Bovine Meat ($26.4M). Over the past 5 years the exports of Uruguay to Italy have increased at an annualized rate of 5.62%,  from $356M in 2018 to $468M in 2023.

In 2023, Uruguay did not export any services to Italy.

Comparison: In 2023,  Italy ranked 18 in the Economic Complexity Index (ECI 1.29), and 6 in total exports ($638B). That same year, Uruguay ranked 52 in the Economic Complexity Index (ECI 0.22), and 100 in total exports ($11B).

Latest Trends

October, 2024

About

Overview In October 2024, Italy exported €13.9M and imported €44.3M from Uruguay, resulting in a negative trade balance of €30.4M. Between October 2023 and October 2024 the exports of Italy have decreased by €-7.4M (-34.7%) from €21.3M to €13.9M, while imports decreased by €-27.7M (-38.5%) from €71.9M to €44.3M.

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (October 2023 - October 2024)€-7.4M(-34.7%)
IMPORT GROWTH (October 2023 - October 2024)€-27.7M(-38.5%)

This section shows exports and imports data at subnational level for Italy. Click any date in the line plot or any product to explore the exports or imports behavior of Italy over time.

To check Uruguay and Italy trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Uruguay and Italy Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Italy exported $201M to Uruguay. The main products exported from Italy to Uruguay were Refrigerators ($6.05M), Machinery Having Individual Functions ($5.36M), and Packaged Medicaments ($5.26M). During the last 5 years the exports of Italy to Uruguay have increased at an annualized rate of 2.97%, from $174M in 2018 to $201M in 2023.

In 2018, Uruguay exported $468M to Italy. The main products exported from Uruguay to Italy were Sulfate Chemical Woodpulp ($312M), Soybeans ($52.6M), and Frozen Bovine Meat ($26.4M). During the last 5 years the exports of Uruguay to Italy have increased at an annualized rate of 5.62%, from $356M in 2023 to $468M in 2018.

Exports from Italy (Flag) to Uruguay (Flag) (2023)

Exports from Uruguay (Flag) to Italy (Flag) (2023)

Market Competitiveness

Color
Italy
Top DestinationGermany$71.4B
Uruguay
Top DestinationChina$2.34B

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 2023, countries that imported more from Italy than Uruguay included Germany ($71.4B), United States ($70.9B), and France ($61.1B).

In 2023, countries that imported more from Uruguay than Italy included Saint Martin ($25.6k) and British Indian Ocean Territory ($22.5k).

Difference in imports from Uruguay (Flag) and Italy (Flag) (2023)

Comparative Advantage Italy - Uruguay

Flow
Scale

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

During 2023, Italy had a large net trade with Uruguay in the exports of Machines ($78.7M), Chemical Products ($27.2M), and Plastics and Rubbers ($16.1M).

During 2018, Uruguay had a large net trade with Italy in the exports of Paper Goods ($312M), Animal Products ($57.6M), and Vegetable Products ($57.3M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Italy Uruguay+$5.34MVaccines, blood, antisera, toxins and cultures
Top Product Potential Uruguay Italy+$7.48MBovine Meat

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of Italy and Uruguay. This means that a dot/product with the flag of Italy indicates it has a comparative advantage over Uruguay. Similarly, a dot/product with the flag of Uruguay indicates it has a comparative advantage over Italy.

Product Space of Italy (Flag) and Uruguay (Flag) (2023)

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