Despite the drop, beef represented 21% of the total exported by Uruguay in February, although a year ago it represented 30% of shipments abroad.
Exports fell 8% in February
All foreign trade suffered a blow during February and exports of goods totaled 939 million dollars, a figure 8% lower than that registered in the same month of 2022. In the accumulated value of the first two months, exports totaled 1,786 million dollars, a decrease 4% compared to the same period last year.
The drop is mainly due to the lower exports of beef and its by-products, which constitute the main export sector of goods in Uruguay. In this item, the decrease in the two-month period is 28%, and is explained both by lower prices and lower volumes. Last year the meat sector had set a historical record in its export performance.
The drop in meats is partially offset by increases in exports of cellulose and beverage concentrates (both from free trade zone) as well as in dairy (despite the fact that in this case there was a year-on-year drop in January).
The export dynamics has been affected by international prices and also by the exchange rate variations.