Flag Uruguay

Econ Complexity (2018): 0.17, Rank 58 of 137

Product Exports (2018): $8.96B, Rank 92 of 222

Exports Per Capita (2018): $2.6k, Rank 166 of 219

Product Imports (2018): $11.2B, Rank 96 of 221

Imports Per Capita (2018): $3.25k, Rank 182 of 219

Service Exports (2018): $6.36B, Rank 38 of 88

Service Imports (2018): $3.7B, Rank 45 of 88

GDP (2018): $59.6B, CURRENT US$
Rank 79 of 196

GDP growth (2008 - 2018): 96.3%, CURRENT US$
Rank 33 of 196

GDP PC (2018): $17,278, CURRENT US$
Rank 53 of 196

GDP PC GROWTH (2008 - 2018): 90.1%, CURRENT US$
Rank 20 of 196

Overview: This page contains the latest international trade data for Uruguay, including service trade data, and tariffs. 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, and the number 58 most complex economy according to the Economic Complexity Index (ECI). In 2018, Uruguay exported $8.96B and imported $11.2B, resulting in a negative trade balance of -$2.24B. In 2018, Uruguay's exports per capita were $2.6k and its imports per capita were $3.25k.

Trade: The top exports of Uruguay are Sulfate Chemical Woodpulp ($1.79B), Frozen Bovine Meat ($1.28B), Concentrated Milk ($461M), Rice ($397M), and Bovine Meat ($363M). The top imports of Uruguay are Crude Petroleum ($2.26B), Packaged Medicaments ($416M), Cars ($352M), Broadcasting Equipment ($269M), and Delivery Trucks ($179M).

Destinations: Uruguay exports mostly to China ($2.04B), Brazil ($1.14B), Netherlands ($553M), United States ($478M), and Argentina ($456M), and imports mostly from Brazil ($3.01B), China ($1.76B), Argentina ($1.17B), United States ($952M), and Nigeria ($364M).

Location: Uruguay borders Argentina and Brazil by land.

Yearly Exports

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Value
Depth

Top Export (2018): Sulfate Chemical Woodpulp, $1.79B

Top Destination (2018): China, $2.04B

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.

The most recent exports are led by Sulfate Chemical Woodpulp ($1.79B), Frozen Bovine Meat ($1.28B), Concentrated Milk ($461M), Rice ($397M), and Bovine Meat ($363M). The most common destination for the exports of Uruguay are China ($2.04B), Brazil ($1.14B), Netherlands ($553M), United States ($478M), and Argentina ($456M).

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Yearly Imports

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Value
Depth

Top Import (2018): Crude Petroleum, $2.26B

Top Origin (2018): Brazil, $3.01B

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.

The most recent imports of Uruguay are led by Crude Petroleum ($2.26B), Packaged Medicaments ($416M), Cars ($352M), Broadcasting Equipment ($269M), and Delivery Trucks ($179M). The most common import partners for Uruguay are Brazil ($3.01B), China ($1.76B), Argentina ($1.17B), United States ($952M), and Nigeria ($364M).

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Flow

Fastest Growing Export Markets (2017 - 2018)

Fastest Growing Import Markets (2017 - 2018)

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).

Trade Forecasts

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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.

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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.

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*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)

Economic Complexity

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Economic Complexity Ranking

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Scale

During the last 20 years Uruguay's鈦 鈦╡conomy has become relatively less complex, moving from the 鈦┾仺38th to the 58th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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Most Specialized Products by RCA Index

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Uruguay has a high level of specialization in Prepared Wool or Animal Hair (119), Horse Meat (112), Frozen Bovine Meat (107), Malt (97.5), and Sulfate Chemical Woodpulp (91.1). 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 (1.63), Synthetic organic colouring matter (1.14), Glues and adhesives nes, pack <1kg (1.09), Nonwovens textiles except felt (1.04), and Provitamins and vitamins, their derivatives (1.04). 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 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.

Diversification Frontier

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Depth

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.