Mexico (MEX) and Uruguay (URY) Trade | The Observatory of Economic Complexity

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Mexico-Uruguay Trade: In 2023, Mexico exported $237M to Uruguay. The main products that Mexico exported to Uruguay were Cars ($44.7M), Delivery Trucks ($28.1M), and Video Displays ($16.5M). Over the past 5 years the exports of Mexico to Uruguay have increased at an annualized rate of 0.72%, from $229M in 2018 to $237M in 2023.

In 2023, Mexico did not export any services to Uruguay.

Uruguay-Mexico Trade: In 2023, Uruguay exported $173M to Mexico. The main products that Uruguay exported to Mexico were Rice ($45.7M), Cheese ($23.1M), and Plywood ($22.9M). Over the past 5 years the exports of Uruguay to Mexico have decreased at an annualized rate of 3.18%, from $204M in 2018 to $173M in 2023.

In 2023, Uruguay did not export any services to Mexico.

Comparison: In 2023, Mexico ranked 25 in the Economic Complexity Index (ECI 1.09), and 8 in total exports ($603B). That same year, Uruguay ranked 52 in the Economic Complexity Index (ECI 0.22), and 100 in total exports ($11B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Mexico exported $237M to Uruguay. The main products exported from Mexico to Uruguay were Cars ($44.7M), Delivery Trucks ($28.1M), and Video Displays ($16.5M). During the last 5 years the exports of Mexico to Uruguay have increased at an annualized rate of 0.72%, from $229M in 2018 to $237M in 2023.

In 2018, Uruguay exported $173M to Mexico. The main products exported from Uruguay to Mexico were Rice ($45.7M), Cheese ($23.1M), and Plywood ($22.9M). During the last 5 years the exports of Uruguay to Mexico have decreased at an annualized rate of 3.18%, from $204M in 2023 to $173M in 2018.

Exports from Mexico () to Uruguay () (2023)

Exports from Uruguay () to Mexico () (2023)

Latest Data

Trade between Mexico () and Uruguay ()

Mexico Exports

Date

Uruguay Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Mexico
Top DestinationUnited States$456B

Uruguay
Top DestinationChina$2.34B

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

In 2023, countries that imported more from Mexico than Uruguay included United States ($456B), Canada ($33B), and China ($15B).

In 2023, countries that imported more from Uruguay than Mexico included Algeria ($121M), Russia ($63.2M), and Venezuela ($52.6M).

Difference in imports from Uruguay () and Mexico () (2023)

Comparative Advantage Mexico - Uruguay

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Mexico had a large net trade with Uruguay in the exports of Transportation ($87.1M), Machines ($57.9M), and Chemical Products ($31.9M).

During 2018, Uruguay had a large net trade with Mexico in the exports of Vegetable Products ($45.7M), Animal Products ($33.5M), and Animal and Vegetable Bi-Products ($27M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Mexico Uruguay+$25.6MCars

Top Product Potential Uruguay Mexico+$5.56MConcentrated Milk

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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Economic Complexity

Competitive Landscape

Year

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

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Historical Data

Bilateral Trade by Products

Exports from Mexico () to Uruguay () (2023)

Exports from Uruguay () to Mexico () (2023)

Latest Data

Trade between Mexico () and Uruguay ()

Mexico Exports

Uruguay Exports

Market Competitiveness

Difference in imports from Uruguay () and Mexico () (2023)

Comparative Advantage Mexico - Uruguay

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Mexico () and Uruguay () (2023)

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