Uruguay (URY) and Italy (ITA) Trade | The Observatory of Economic Complexity

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Uruguay-Italy Trade: In 2022, Uruguay exported $444M to Italy. The main products that Uruguay exported to Italy were Sulfate Chemical Woodpulp ($346M), Frozen Bovine Meat ($26.6M), and Prepared Wool or Animal Hair ($24M). Over the past 5 years the exports of Uruguay to Italy have increased at an annualized rate of 9.67%, from $280M in 2017 to $444M in 2022.

In 2022, Uruguay did not export any services to Italy.

Italy-Uruguay Trade: In 2022, Italy exported $271M to Uruguay. The main products that Italy exported to Uruguay were Packaged Medicaments ($59M), Vaccines, blood, antisera, toxins and cultures ($20.1M), and Machinery Having Individual Functions ($7.14M). Over the past 5 years the exports of Italy to Uruguay have increased at an annualized rate of 4.41%, from $219M in 2017 to $271M in 2022.

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.

Comparison: In 2022, Uruguay ranked 57 in the Economic Complexity Index (ECI 0.15), and 98 in total exports ($12B). That same year, Italy ranked 17 in the Economic Complexity Index (ECI 1.29), and 7 in total exports ($634B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Uruguay exported $444M to Italy. The main products exported from Uruguay to Italy were Sulfate Chemical Woodpulp ($346M), Frozen Bovine Meat ($26.6M), and Prepared Wool or Animal Hair ($24M). During the last 5 years the exports of Uruguay to Italy have increased at an annualized rate of 9.67%, from $280M in 2017 to $444M in 2022.

In 2017, Italy exported $271M to Uruguay. The main products exported from Italy to Uruguay were Packaged Medicaments ($59M), Vaccines, blood, antisera, toxins and cultures ($20.1M), and Machinery Having Individual Functions ($7.14M). During the last 5 years the exports of Italy to Uruguay have increased at an annualized rate of 4.41%, from $219M in 2022 to $271M in 2017.

Exports from Uruguay () to Italy () (2022)

Exports from Italy () to Uruguay () (2022)

Latest Data

Trade between Uruguay () and Italy ()

Uruguay Exports

Date

Italy Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Uruguay
Top DestinationChina$2.89B

Italy
Top DestinationGermany$78.5B

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

In 2022, countries that imported more from Uruguay than Italy included Paraguay ($149M).

In 2022, countries that imported more from Italy than Uruguay included Germany ($78.5B), United States ($68.2B), and France ($63.8B).

Difference in imports from Italy () and Uruguay () (2022)

Comparative Advantage Uruguay - Italy

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Uruguay had a large net trade with Italy in the exports of Paper Goods ($346M), Animal Products ($49.5M), and Textiles ($30M).

During 2017, Italy had a large net trade with Uruguay in the exports of Chemical Products ($97.2M), Machines ($72.9M), and Plastics and Rubbers ($13.5M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Uruguay Italy+$7.48MBovine Meat

Top Product Potential Italy Uruguay+$5.34MVaccines, blood, antisera, toxins and cultures

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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Bilateral Service Trade

Ita Year

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.

Service trade data is presented based on availability.

Services Exports from Italy () to Uruguay () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Year

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

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Historical Data

Bilateral Trade by Products

Exports from Uruguay () to Italy () (2022)

Exports from Italy () to Uruguay () (2022)

Latest Data

Trade between Uruguay () and Italy ()

Uruguay Exports

Italy Exports

Market Competitiveness

Difference in imports from Italy () and Uruguay () (2022)

Comparative Advantage Uruguay - Italy

Potential Exports

Potential Exports

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Bilateral Service Trade

Services Exports from Italy () to Uruguay () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Product Space of Uruguay () and Italy () (2022)

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