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

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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.

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 0.6%, from $229M in 2018 to $237M in 2023.

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

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

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, 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 2018 to $173M in 2023.

In 2018, 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 0.6%, from $229M in 2023 to $237M in 2018.

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

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

Latest Data

Trade between Uruguay () and Mexico ()

Uruguay Exports

Date

Mexico Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Uruguay
Top DestinationChina$2.34B

Mexico
Top DestinationUnited States$456B

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

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

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

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

Comparative Advantage Uruguay - Mexico

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, 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).

During 2018, Mexico had a large net trade with Uruguay in the exports of Transportation ($87.1M), Machines ($57.9M), and Chemical Products ($31.9M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Uruguay Mexico+$5.56MConcentrated Milk

Top Product Potential Mexico Uruguay+$25.6MCars

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 Uruguay and Mexico. This means that a dot/product with the flag of Uruguay indicates it has a comparative advantage over Mexico. Similarly, a dot/product with the flag of Mexico indicates it has a comparative advantage over Uruguay.

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Historical Data

Bilateral Trade by Products

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

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

Latest Data

Trade between Uruguay () and Mexico ()

Uruguay Exports

Mexico Exports

Market Competitiveness

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

Comparative Advantage Uruguay - Mexico

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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