Overview In 2020 Uruguay was the number 84 economy in the world in terms of GDP (current US$), the number 97 in total exports, the number 107 in total imports, the number 54 economy in terms of GDP per capita (current US$) and the number 57 most complex economy according to the Economic Complexity Index (ECI).

Exports The top exports of Uruguay are Frozen Bovine Meat ($1.26B), Sulfate Chemical Woodpulp ($1.18B), Rice ($475M), Concentrated Milk ($470M), and Soybeans ($363M), exporting mostly to China ($1.79B), Brazil ($1.02B), United States ($558M), Netherlands ($387M), and Argentina ($361M).

Imports The top imports of Uruguay are Crude Petroleum ($728M), Packaged Medicaments ($348M), Cars ($241M), Broadcasting Equipment ($236M), and Pesticides ($161M), importing mostly from Brazil ($1.79B), China ($1.56B), United States ($1.03B), Argentina ($1.01B), and Germany ($272M).

Location Uruguay borders Argentinaand Brazil by land.

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The following section uses the most recent trade data from partners of Uruguay.

Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.

*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.

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Data is presented based on data availability. Only countries using the Harmonic System (HS) are selected. Every source is shown using their own latest twelve months of data.

*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.

Historical Data

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Yearly Exports

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Top Export (2020): Frozen Bovine Meat, $1.26B

Top Destination (2020): China, $1.79B

In 2020, Uruguay exported a total of $7.59B, making it the number 97 exporter in the world. During the last five reported years the exports of Uruguay have changed by -$651M from $8.24B in 2015 to $7.59B in 2020.

The most recent exports are led by Frozen Bovine Meat ($1.26B), Sulfate Chemical Woodpulp ($1.18B), Rice ($475M), Concentrated Milk ($470M), and Soybeans ($363M). The most common destination for the exports of Uruguay are China ($1.79B), Brazil ($1.02B), United States ($558M), Netherlands ($387M), and Argentina ($361M).

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Yearly Imports

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Top Import (2020): Crude Petroleum, $728M

Top Origin (2020): Brazil, $1.79B

In 2020 Uruguay imported $8.58B, making it the number 107 trade destination in the world. During the last five reported years the imports of Uruguay changed by -$3.25B from $11.8B in 2015 to $8.58B in 2020.

The most recent imports of Uruguay are led by Crude Petroleum ($728M), Packaged Medicaments ($348M), Cars ($241M), Broadcasting Equipment ($236M), and Pesticides ($161M). The most common import partners for Uruguay are Brazil ($1.79B), China ($1.56B), United States ($1.03B), Argentina ($1.01B), and Germany ($272M).

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Fastest Growing Export Markets (2019 - 2020)

Fastest Growing Import Markets (2019 - 2020)

Uruguay Exports Services (2018): $6.36B

Uruguay Imports Services (2018): $3.7B

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).

Tariffs by Product

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The top product import tariffs by their MFN Ad Valorem value for Uruguay are Boots, soles/uppers rubber or plastic, over ankle, ne (35%)and Footwear, nes (35%).

Click any of the products in the bar chart to see the specific Ad Valorem Duty Rates by partner country.

*The tariffs applied to imports for Uruguay are:
3: AAP.A14TM N掳 6 (Argentina Brasil Uruguay) Acuerdo de Alcance Parcial de Cooperaci贸n e Intercambio de Bienes utilizados en la Defensa y Protecci贸n del Medio Ambiente
4: AAP.A14TM N掳 7 Acuerdo de Alcance Parcial para la Conformaci贸n del Mercado Com煤n del Libro Latinoamericano Brasil Uruguay
23: AAP.AG N掳 02 - Acuerdo de Alcance Parcial para la Liberaci贸n y Expansi贸n del Comercio Intrarregional de Semillas Suscrito por el Art. 12 del TM80
29: AAP.CE N掳 2 Acuerdo de Complementaci贸n Econ贸mica N掳 2 celebrado entre la Rep煤blica Federativa del Brasil y la Rep煤blica Oriental del Uruguay
35: AAP.CE N掳 35 - Complementaci贸n Econ贸mica entre MERCOSUR y Chile
36: AAP.CE N掳 36 - Complementaci贸n Econ贸mica entre MERCOSUR y Bolivia
42: AAP.CE N掳 44 Acuerdo de Complementaci贸n Econ贸mica N掳 44 Celebrado entre la Rep煤blica de Cuba y la Rep煤blica Oriental del Uruguay
50: AAP.CE N掳 55 Acuerdo de Complementaci贸n Econ贸mica N掳 55 celebrado entre el MERCOSUR y los Estados Unidos Mexicanos
51: AAP.CE N掳 57 Acuerdo de Alcance Parcial de Complementaci贸n Econ贸mica N掳 57 Suscrito entre la Rep煤blica Argentina y la Rep煤blica Oriental del Uruguay
60: AAP.CE N掳 58 - Complementaci贸n Econ贸mica entre Argentina, Brasil, Paraguay, Uruguay y Per煤
61: AAP.CE N掳 59 - Complementaci贸n Econ贸mica entre Argentina, Brasil, Paraguay, Uruguay, Colombia, Ecuador y Venezuela
63: AAP.CE N掳 60 Acuerdo de Complementaci贸n Econ贸mica N掳 60 Suscrito entre la Rep煤blica Oriental del Uruguay y los Estados Unidos Mexicanos
67: AAP.CE N潞 63 Acuerdo de Complementaci贸n Econ贸mica N掳 63 Suscrito entre la Rep煤blica Oriental del Uruguay y la Rep煤blica Bolivariana de Venezuela
79: AR.AM N掳 01 - Acuerdo Regional de Apertura de Mercados en Favor de Bolivia
80: AR.AM N掳 02 - Acuerdo Regional de Apertura de Mercados en favor de Ecuador
81: AR.AM N掳 03 - Acuerdo Regional de Apertura de Mercados en Favor de Paraguay
82: AR.CEYC N掳 7 Acuerdo de Cooperaci贸n e Intercambio en las 脕reas Cultural, Educacional y Cient铆fica (Argentina, Bolivia, Brasil, Chile, Colombia, Cuba, Ecuador, M茅xico, Panam谩, Paraguay, Per煤, Uruguay)
83: AR.PAR N掳 04 - Preferencia Arancelaria Regional (Argentina Bolivia Brasil Chile Colombia Cuba Ecuador M茅xico Panam谩 Paraguay Per煤 Uruguay Venezuela)
136: Most Favoured Nation duty rate treatement
239: Preferential tariff for India
244: Preferential tariff for Israel
269: Preferential tariff for MERCOSUR countries (Southern Common Market)
392: AAP.CE N潞 72 Argentina Brasil Colombia Paraguay y Uruguay. Acuerdo Contempla entre sus objetivos la conformaci贸n de un 谩rea de libre comercio
396: AAP.CE N潞 73 Chile Uruguay: Acuerdo Dispone el establecimiento de una Zona de Libre Comercio y reconoce la intensi贸n de las Partes de coexistir con los acuerdos internacionales existentes

Economic Complexity

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Most Specialized Products by RCA Index

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Uruguay has a high level of specialization in Frozen Bovine Meat (103), Prepared Wool or Animal Hair (96.5), Sulfate Chemical Woodpulp (91.6), Malt (80.5), and Bovine, Sheep, and Goat Fat (62). Specialization is measured using RCA, an index that takes the ratio between Uruguay observed and expected exports in each product.

Most Complex Products by PCI

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The highest complexity exports of Uruguay according to the product complexity index (PCI) are Acrylic polymers in primary forms (1.33), Provitamins and vitamins, their derivatives (1.19), Glues and adhesives nes, pack <1kg (1.18), Compounded unvulcanised rubber, in primary forms (0.98), and Pigments for paint, stamping foils, dyes, retail (0.91). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

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The top export opportunities for Uruguay according to the relatedness index, are Gold (0.17), Other Hides and Skins (0.17), Raw Cotton (0.16), Raw Sugar (0.16), and Cocoa Beans (0.16). 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 a country currently specializes in.

Relatedness Space

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This network shows the products most related to the production structure of Uruguay. These are products that tend to be co-exported with the products that Uruguay exports. Higher relatedness values 鈥嬧媔ndicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Diversification Frontier

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The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is 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 greenhouse emissions.

Economic Complexity Ranking

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During the last 20 years Uruguay's鈦 鈦╡conomy has become relatively less complex, moving from the 鈦┾仺38th to the 57th鈦 position in the ECI rank.

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.

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