Uruguay's Exports Up 29% Year-on-year in August, China Remains Top Export Market

According to the U.S. Bureau of Investment and Export Promotion, including the Free Trade Zone, U.S. exports in August totaled $1.231 billion, up 29 percent year-on-year. Soybean exports ranked first, with exports of $330 million, up 176% year-on-year, with significant growth in both volume and price. Beef was second, with exports of $186 million, down 20 percent year-on-year, due to reduced slaughter, prices at a high level, and the highest amount of beef exports in history last year. Pulp third, exports amounted to $ 157 million, up 21% year-on-year.

Export destinations, in August, U exported to a total of 110 countries or regions. The top export market remains China, with exports of $230 million, down 1 percent year-on-year, mainly due to a 26 percent drop in beef and a 33 percent drop in meat by-products, but exports of soybeans and dairy products increased. Brazil ranked second, with exports of $183 million, up 69 percent year-on-year. The largest exports to Brazil were dairy products, accounting for 20 percent of the total, followed by malt and vehicles. Argentina is the third largest export market, exports amounted to $ 0.77 billion, an increase of 69%, of which soybeans accounted for 37%, and exports of automobiles and parts, paints and plastics also increased. The EU ranked fourth, with exports of $75 million, down 8 percent year-on-year, beef exports fell 5 percent, meat by-products fell 51 percent, while timber, wool and soybean exports maintained growth.

In the first eight months of this year, the cumulative exports of U.S. $ 9.406 billion, an increase of 35%. Soybeans replaced beef to become the first export products, January to August cumulative exports of $1.85 billion, beef exports of $1.831 billion, an increase of 126% and 27%, respectively. Pulp exports were third, with a cumulative total of $1.118 billion, up 21.9 percent year-on-year.