2023
Exports
$205MWorld Rnk 11 / 142
Flag Rnk 10 / 902
2023
PRODUCT COMPLEXITY IN Soybeans
-1.67Rnk 968 / 1025
2023
Imports
$23.1MWorld Rnk 56 / 193
Flag Rnk 113 / 1152
2023
ECONOMIC COMPLEXITY of Uruguay
0.22Rnk 52 / 132

About

Exports In 2023, Uruguay exported $205M in Soybeans, making it the 11th largest exporter of Soybeans in the world. At the same year, Soybeans was the 10th most exported product in Uruguay. The main destination of Soybeans exports from Uruguay are: China ($93.9M), Italy ($52.6M), Argentina ($19.8M), Spain ($14.9M), and Brazil ($7.63M).

The fastest growing export markets for Soybeans of Uruguay between 2022 and 2023 were Italy ($52.6M), Spain ($14.9M), and Bolivia ($20.7k).

Imports In 2023, Uruguay imported $23.1M in Soybeans, becoming the 56th largest importer of Soybeans in the world. At the same year, Soybeans was the 113th most imported product in Uruguay. Uruguay imports Soybeans primarily from: Brazil ($11M), Argentina ($10.4M), Paraguay ($1.64M), United States ($16.6k), and China ($6.55k).

The fastest growing import markets in Soybeans for Uruguay between 2022 and 2023 were Brazil ($11M), Argentina ($5.39M), and Paraguay ($1.21M).

Latest Trends

Jan 2025

Subnational Monthly Trade

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Flow
Y-AXIS SCALE

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

The following visualization shows the latest trends on Soybeans. Countries are shown based on data availability.

* Using January 2020 exchange rates when trade data is reported in local currency.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$205M
IMPORTS (2023)$23.1M
NET TRADE (2023)$182M

In 2023, Uruguay exported $205M in Soybeans. The main destinations of Uruguay exports on Soybeans were China ($93.9M), Italy ($52.6M), Argentina ($19.8M), Spain ($14.9M), and Brazil ($7.63M).

In 2023, Uruguay imported $23.1M in Soybeans, mainly from Brazil ($11M), Argentina ($10.4M), Paraguay ($1.64M), United States ($16.6k), and China ($6.55k).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Soybeans EXPORT MARKETS FOR Uruguay WERE (2022 - 2023):
Italy$52.6M (1%)
Spain$14.9M (9.76M%)
Bolivia$20.7k (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Soybeans BY Uruguay WERE (2022 - 2023):
Argentina-$352M (-94.7%)
China-$230M (-71%)
Egypt-$76.6M (-93.3%)

Change in Exports by Market (2022 - 2023)

Market Concentration

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Flow
Type
In 2023, Uruguay's main exporting competitors in Soybeans were:
In 2023, Uruguay's main importing competitors in Soybeans were:
China $56.6B
Japan $2.14B

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Trade Value of Soybeans by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $128M
TOP IMPORT POTENTIALArgentina+ $3.46M

Soybeans’s highest export potential is China. With an export gap of $128M.   Soybeans’s highest import potential is Argentina with an import gap of $3.46M.

See methodology.

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