Sign In
Pricing

2022
Economic Complexity
Trade 0.15Rank 57 of 133
2021
Economic Complexity
Technology -0.44Rank 62 of 96
2022
Economic Complexity
Research -0.072Rank 59 of 135
2022
Product
Exports | Imports $12B | $14.5B98 of 226 |  104 of 226
2022
Per Capita Product
Exports | Imports $3.5k | $4.24k76 of 220 |  89 of 220

About

Overview In 2022, Uruguay was the number 79 economy in the world in terms of GDP (current US$), the number 98 in total exports, the number 104 in total imports, the number 49 economy in terms of GDP per capita (current US$) and the number 57 most complex economy according to the Economic Complexity Index (ECI) .

Exports The top exports of Uruguay are Frozen Bovine Meat ($2.14B), Sulfate Chemical Woodpulp ($1.84B), Soybeans ($793M), Concentrated Milk ($632M), and Rice ($502M), exporting mostly to China ($2.89B), Brazil ($1.69B), Argentina ($999M), United States ($818M), and Netherlands ($587M).

Imports The top imports of Uruguay are Crude Petroleum ($1.93B), Cars ($473M), Packaged Medicaments ($418M), Broadcasting Equipment ($362M), and Delivery Trucks ($354M), importing mostly from Brazil ($2.92B), China ($2.63B), United States ($2.21B), Argentina ($1.53B), and Germany ($368M).

Location Uruguay borders Argentina and Brazil by land.

Latest Trends

Latest Trade

Flow
View
Y-AXIS SCALE

The following section uses the most recent trade data from partners of Uruguay.

Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.

* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

Subscribe today to OEC pro and access the latest data

Sign Up

Latest Data

Flow
Color
Depth

The data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.

*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.

Subscribe today to OEC pro and access the latest data

Sign Up

Subscribe today to OEC pro and access the latest data

Sign Up

Historical Data

Yearly Trade

Flow
Color
Depth
Top Export (2022)Frozen Bovine Meat$2.14B
Top Destination (2022)China$2.89B

In 2022, Uruguay exported a total of $12B, making it the number 98 exporter in the world. During the last five reported years the exports of Uruguay have changed by $2.92B from $9.07B in 2017 to $12B in 2022.

The most recent exports are led by Frozen Bovine Meat ($2.14B), Sulfate Chemical Woodpulp ($1.84B), Soybeans ($793M), Concentrated Milk ($632M), and Rice ($502M). The most common destination for the exports of Uruguay are China ($2.89B), Brazil ($1.69B), Argentina ($999M), United States ($818M), and Netherlands ($587M).

Explore Visualizations

Exports (2022)
[Click to Select a Product]

Destinations (2022)
[Click to Select a Country]

Market Growth

Flow
View
Growth
Fastest Growing Export Markets (2021 - 2022)
Argentina$441M (+ 78.8%)
United States$211M (+ 34.7%)
South Korea$141M (+ 112%)
Fastest Growing Import Markets (2021 - 2022)
United States$919M (+ 71.4%)
Brazil$823M (+ 39.2%)
Argentina$352M (+ 29.8%)

Total Export Growth by Market (2021 - 2022)

Potential Exports

Potential Exports

Type
Flow
Depth
View
Sort By

Subscribe today to OEC pro and access the latest data

Sign Up

Service Trade

Service Trade

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).

Service Exports (2018)

Service Imports (2018)

Economic Complexity

Overview

Economic Complexity (Trade)0.15Rank 57 of 133
Economic Complexity (Technology)-0.44Rank 62 of 96
Economic Complexity (Research)-0.072Rank 59 of 135

Most Specialized Products by RCA Index

Uruguay has a high level of specialization in Malt (123), Frozen Bovine Meat (110), Prepared Wool or Animal Hair (104), Sulfate Chemical Woodpulp (91.5), and Bovine, Sheep, and Goat Fat (74.5). 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

The highest complexity exports of Uruguay according to the product complexity index (PCI) are Ketones and quinones; whether or not with other oxygen function, and their... (1.32), Acrylic polymers in primary forms (1.17), Polymers of vinyl acetate or of other vinyl esters, in primary forms;... (1.01), Prepared glues and other prepared adhesives, n.e.c. or included; products suitable for... (1.01), and Provitamins, vitamins; natural or reproduced by synthesis (including natural concentrates) derivatives thereof... (0.95). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

The top export opportunities for Uruguay according to the relatedness index, were Sorghum (0.15), Gold (0.15), Manganese Ore (0.15), Raw Cotton (0.14), and Iron Ore (0.14). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Uruguay is not specialized in.

Product Space

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.

Relatedness Space

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.

Relatedness Space (2022)

Diversification Frontier

Filter
Depth

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.

Diversification Frontier

Economic Complexity Ranking

Methodology
Scale

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.

Explore Rankings

ECI (Trade) Ranking by Country

Keep Exploring

Have questions, comments, or concerns?
Send us an e-mail: support@oec.world
Follow @OECtoday on
Created, Designed, and Developed by:
In collaboration with
About the OECPrivacy PolicyTerms