Overview: In 2018 Uruguay was the number 79 economy in the world in terms of GDP (current US$), the number 92 in total exports, the number 96 in total imports,
the number 53 economy in terms of GDP per capita (current US$) and the number 58 most complex economy according to the Economic Complexity Index (ECI)
In 2018, Uruguay exported a total of $8.96B, making it the number 92 exporter in the world. During the last five reported years the exports of Uruguay have changed by -$435M from $9.4B in 2013 to $8.96B in 2018.
In 2018 Uruguay imported $11.2B, making it the number 96 trade destination in the world. During the last five reported years the imports of Uruguay changed by -$1.39B from $12.6B in 2013 to $11.2B in 2018.
In 2018, Uruguay exported $6.36B worth of services. The top services exported by Uruguay in 2018 were Personal travel ($2.04B), Merchanting and other trade-related services ($1.47B), Miscellaneous business, professional, and technical services ($1.33B), Business travel ($314M), and Telecommunications services ($229M).
The top services imported by Uruguay in 2018 were Personal travel ($954M), Miscellaneous business, professional, and technical services ($869M), Sea transport ($488M), Air transport ($327M), and Computer and information services ($266M).
This section shows forecasts for total product exports and imports for Uruguay. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.
These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.
The top export opportunities for Uruguay according to the relatedness index, are Tin Ores (0.16), Gold (0.16), Raw Cotton (0.15), Crustaceans (0.15), and Insect Resins (0.15). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Uruguay is not specialized in.
The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.
The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities.
Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.