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).
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.
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.
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.
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).
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° 6 (Argentina Brasil Uruguay) Acuerdo de Alcance Parcial de Cooperación e Intercambio de Bienes utilizados en la Defensa y Protección del Medio Ambiente4: AAP.A14TM N° 7 Acuerdo de Alcance Parcial para la Conformación del Mercado Común del Libro Latinoamericano Brasil Uruguay23: AAP.AG N° 02 - Acuerdo de Alcance Parcial para la Liberación y Expansión del Comercio Intrarregional de Semillas Suscrito por el Art. 12 del TM8029: AAP.CE N° 2 Acuerdo de Complementación Económica N° 2 celebrado entre la República Federativa del Brasil y la República Oriental del Uruguay35: AAP.CE N° 35 - Complementación Económica entre MERCOSUR y Chile36: AAP.CE N° 36 - Complementación Económica entre MERCOSUR y Bolivia42: AAP.CE N° 44 Acuerdo de Complementación Económica N° 44 Celebrado entre la República de Cuba y la República Oriental del Uruguay 50: AAP.CE N° 55 Acuerdo de Complementación Económica N° 55 celebrado entre el MERCOSUR y los Estados Unidos Mexicanos51: AAP.CE N° 57 Acuerdo de Alcance Parcial de Complementación Económica N° 57 Suscrito entre la República Argentina y la República Oriental del Uruguay60: AAP.CE N° 58 - Complementación Económica entre Argentina, Brasil, Paraguay, Uruguay y Perú61: AAP.CE N° 59 - Complementación Económica entre Argentina, Brasil, Paraguay, Uruguay, Colombia, Ecuador y Venezuela63: AAP.CE N° 60 Acuerdo de Complementación Económica N° 60 Suscrito entre la República Oriental del Uruguay y los Estados Unidos Mexicanos67: AAP.CE Nº 63 Acuerdo de Complementación Económica N° 63 Suscrito entre la República Oriental del Uruguay y la República Bolivariana de Venezuela79: AR.AM N° 01 - Acuerdo Regional de Apertura de Mercados en Favor de Bolivia80: AR.AM N° 02 - Acuerdo Regional de Apertura de Mercados en favor de Ecuador81: AR.AM N° 03 - Acuerdo Regional de Apertura de Mercados en Favor de Paraguay82: AR.CEYC N° 7 Acuerdo de Cooperación e Intercambio en las Áreas Cultural, Educacional y Científica (Argentina, Bolivia, Brasil, Chile, Colombia, Cuba, Ecuador, México, Panamá, Paraguay, Perú, Uruguay)83: AR.PAR N° 04 - Preferencia Arancelaria Regional (Argentina Bolivia Brasil Chile Colombia Cuba Ecuador México Panamá Paraguay Perú Uruguay Venezuela)136: Most Favoured Nation duty rate treatement239: Preferential tariff for India244: Preferential tariff for Israel269: Preferential tariff for MERCOSUR countries (Southern Common Market)392: AAP.CE Nº 72 Argentina Brasil Colombia Paraguay y Uruguay. Acuerdo Contempla entre sus objetivos la conformación de un área de libre comercio396: AAP.CE Nº 73 Chile Uruguay: Acuerdo Dispone el establecimiento de una Zona de Libre Comercio y reconoce la intensión de las Partes de coexistir con los acuerdos internacionales existentes
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.
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 indicate greater knowledge, which predicts a greater probability of exporting that product in the future.
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.
During the last 20 years Uruguay's economy has become relatively less complex, moving from the 38th to the 57th 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.